Author: David Sklansky

A new business venture can be exciting, but risky unless one takes time to analyze the opportunity. The biggest mistake that most people commit is to make an investment without research and without planning. A simple and straightforward guideline that can help reduce those risks can increase the odds of success.

Advice on assessment of business opportunities prior to investment

Understand the market

Without demand for products or services, there is no way a business will flourish. You have to know the market before investing in any business.

Consider the following points when studying the market:

• Size of the market – identify whether the business has a niche or a large customer base.
• Growth potential – determine whether the industry is growing or not.
• Competitor level – research the number of competitors already in the market.
• Customer behavior- understand how customers decide to buy products.

Review the business model

A business model is how a firm raises money and continues to operate. Some generate revenues via direct sales, and others through subscriptions or services. Whether the model is long term sustainable and profitable should also be researched.

Some of the essential things to examine in a business model include:

• Revenue streams – find out all the different ways the company intends to make money.
• Cost structure – look at the key costs and their impacts on profit.
• Profit margins – are profits going to be consistent with the model?
• Scalability – test whether the business could expand without excessive expenses.

Analyze financial health

Numbers enable you to get more info about a good or bad business. It is always good to read financial records, regardless of whether you are an expert or not. You may request historical statements or projections to view management of money.

Some areas to focus on are:

• Revenue growth – does the revenue keep growing every year?
• Debt levels – is the business holding too much money?
• Cash flow – will the business be able to meet its daily operating expenses?
• Return on investment (ROI) – how much do you expect to make on your investment?

Assess the management team

A good idea will not work without effective leadership. The individuals that run a business have a very significant influence on whether the business will perform or not. See their capabilities, experience and previous successes.

Know if:

• Are they knowledgeable about the industry?
• Do they have experience in business?
• Do they have integrity and transparency?

Check the legal and regulatory side

A company has to comply with regulations and laws to escape penalties and shutdowns. You need to ensure that the company is licensed, permitted and registered before investing.

Some important considerations are:

• Business registration – is it a registered business?
• Tax compliance – are taxes current?
• licenses and permits – is the company licensed?
• Intellectual property – are there patents or trademarks in place?

Consider risks and challenges

All businesses have risks, though some are more critical than others. Early risk detection can enable you to prepare against risks. Most investors who fail to notice the risks are prone to bad surprises in the future.

The key risks to consider are:

• Economic risks – inflation or declines that impact sales.
• Market risks – abrupt fluctuations in customer demand.
• Operational risks – ineffective supply chain or ineffective system.
• Competitive dangers – entry of new competitors in the market.

Summary

Assessment of business opportunities before investments is not all about enthusiasm. The time you spend reviewing risks will also protect your money.

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