Quick Analysis
(keep this page in your pocket all the time. Practice Quick Analysis a lot!)
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Is there already a lot of it available?
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Would there be a market for it , or more of it if it already exists?
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Who will buy it? How much will they buy? How often will they buy?
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What is needed to produce it? Make a list of things needed to produce it.
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List what is needed for production?
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Estimate expenses: Estimate Income: Estimate profits:
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Start up costs? What will it cost to get started?
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How long to get it to market?
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What will be the most effective and widely accepted sales pitch?
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Will there still be a market for this in 2 years? 5 years?
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Will it need to be promoted, or will people just see it, and automatically want to buy it?
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If it needs promotion, are you willing to learn how to promote things?
Material Costs Selling price for each
Other Costs How many sold in a month?
Income for month
Total Income – Total Costs = Gross Profit
Now, Gross Profit – Re-supply costs = Net Profit
(amount you actually made for one month)
Will this micro business be profitable?
From the video course: “How To Start A Micro Business” by Dr. Jerry Dean Epps, Ph. D.