Evaluate business idea

[fattony]

Hey,

Now this question might sound stupid but does anybody have any good tips or ideas on how to evaluate an online business?
Now I know there the obvious ones like check out the competition and the like but I wonder does anybody have any kinda plan they follow to help decide.

Thanks

[bennyhill]

Hey,

Now this question might sound stupid but does anybody have any good tips or ideas on how to evaluate an online business?

The more money it makes, the better it is.

[fattony]

Is your avatar a pic of sherlock holmes cos that would be ironic.

[3ntrepreneur]

All I know is that picture scarry.

[NeeJam]

to evaluate an online business find how much money is in that business/market you're planning on doing.

[fattony]

to evaluate an online business find how much money is in that business/market you're planning on doing.

and then what?

[NeeJam]

well then you decide if that market is viable and sustainable for you to make the amount you want. So say you wanted $10k and you have an idea lets say a new search engine then you work out the market value basically just look how much google is making and then work out how you can take enough of the market ot make your $10k if the market doesnt meet your financial needs then either theres no point as the market is saturated or if theres no competition then do it becuase you've probably found yourself a niche!

[fattony]

hmmm, i like it. Thanks for that

[LightHouse]

depending on the initail investment i wouuldnt evaluate anything, i would go for it unless its a copycat and see what you come up with. then let people evaluate YOUR business. just a thought

[F360]

Search for both Porters forces and SWOT analysis. They should help.

[907Group]

well you can hire me.. i think my credentials are pretty good and i'm confident at what i can do and my expertise..

i work in an finance industry and have computer experience for past 20 years.. been doing this kind of stuff since i was 6.. wish i picked up sports when i was young not computers
i could like tiger woods or something.. lol

[Danny-B]

SWOT is so out...haven 't you read!!

[BizGambit]

http://www.njsbdc.com/ebusiness/evaluate.php.... just came across that, maybe it will help answer some basic questions... also, a while back on entrepreneur.com they had actual checklists for evaluating online businesses and their sites

[bwoj]

Danny-B:

What's the deal with SWOT? Was it beat to death in another thread?

[NeeJam]

Danny-B:

What's the deal with SWOT? Was it beat to death in another thread?

I've never seen swot analysis beaten down in another thread before. I actually find SWOT analysis very effective especailly for offline businesses.