Is Your Business Idea Viable? Quiz Form

Transform your business vision into a concrete plan. Our AI-powered Viability Quiz guides you through crucial aspects of your startup idea, from problem-solution fit to market potential and financial planning. Receive instant, actionable feedback to identify strengths, uncover hidden weaknesses, and define your next steps towards success. This tool provides strategic insights, not just general guidance, to help you make informed decisions.

"*" indicates required fields

1Problem & Solution

2Market & Audience

3Competition

4Revenue & Financials

5Team & Resources

6Commitment & Risk

7Final Review

Do you have a specific problem your business idea solves or a need it meets?*

Yes, it addresses a very clear and urgent problem/need.

Yes, there’s a problem/need, but its urgency is debatable.

I’m not sure, I see it more as an opportunity.

No, it doesn’t solve a specific problem.

How effectively does your proposed solution (product/service) solve this problem?*

It’s the best or a unique solution available in the market.

It’s a good solution, but alternatives exist.

It offers a basic solution that could be improved.

It’s not a complete solution for the problem.

Can you clearly and concisely explain your solution in a few sentences (like an elevator pitch)?*

Yes, I have a very clear and compelling statement.

Yes, I can explain it, but it could be better.

I struggle to articulate it clearly.

No, I haven’t thought about this yet.

Do you have a specific target audience for this problem or need? How well do you know them?*

Yes, I have a detailed ideal customer persona defined.

Yes, I have a general target audience in mind.

There could be a few different groups, I’m not entirely sure.

I haven’t identified my target audience yet.

Do you have an idea of your target market size? (e.g., addressable market, number of potential customers)*

Yes, I’ve researched the market size and potential.

I have a general estimate.

It might be a very small niche market.

I have no idea.

Is your target audience willing to pay for your solution?*

Yes, our value proposition is strong, and willingness to pay is high.

Yes, they might pay a reasonable price.

I’m not sure; I need more research on pricing and willingness to pay.

They probably expect a free solution.

Are there direct or indirect competitors in the market? If so, who are they?*

Yes, I know all significant competitors and their market shares.

Yes, there are a few main competitors.

There seem to be too many competitors, or no competitors at all (both can be risky).

I haven’t researched competitors yet.

What is your unique selling proposition (USP) or competitive advantage that sets you apart from competitors?*

Yes, I have a clear and strong competitive advantage/USP.

I have a few potential advantages but I’m not sure which is strongest.

I don’t seem to have a very distinct difference from my competitors.

I haven’t thought about this yet.

How do you plan to make money from your business? (What is your revenue model?)*

Yes, I have a clear and viable revenue model.

I’m considering a few different revenue models.

My revenue model is not yet clear.

Making money is a secondary priority at this stage.

Do you have an estimate of your startup costs and basic operating expenses?*

Yes, I have a detailed budget and expense forecast.

I have a general idea but need to detail it.

I have very little information about the costs.

I haven’t considered this at all.

Do you have the necessary funding to start and sustain the business initially, or a plan to acquire it?*

Yes, I have sufficient personal savings/investors/loan options.

I have some resources, but additional funding may be needed.

I need to find funding but I’m unsure how.

Funding is completely uncertain.

Do you (or your team) have the core skills and experience needed to bring this business idea to life?*

Yes, I/my team is/are highly competent in this area.

I/we have some core skills but may need support in certain areas.

I/we have significant gaps in necessary skills and experience.

I haven’t assessed this.

Will you be able to dedicate enough time to develop and market your business idea?*

Yes, I can focus on it full-time.

Yes, I can dedicate a significant amount of time (e.g., part-time).

I have limited time available.

I have very little time, or it’s uncertain.

How passionate are you about this business idea? What is your motivation to persevere through challenges?*

Extremely passionate, this is my dream business!

Highly passionate, I believe it will succeed.

Moderately interested, I find it worth trying.

Low interest, it just came to mind as an idea.

Have you identified the top 2-3 risks associated with your business idea, and do you have a plan to mitigate them?*

Yes, I’ve identified risks and have mitigation strategies.

Yes, I’m aware of the risks, but my mitigation plan isn’t clear.

I haven’t fully assessed potential risks.

No, I haven’t thought about risks.

A Few Important Reminders

This tool is designed to provide you with general guidance and potential insights based on your answers. Our goal is to help you think critically about your business idea.

However, the feedback presented is not a substitute for professional business advice, market research, or financial planning. Every business idea and market is unique.

We strongly recommend conducting thorough research and consulting with mentors or business advisors before making significant commitments.

You’re almost there! Click the button below to see your business idea viability assessment and suggested next steps.

Please verify you're human.