Letter M in Chocolate
photo credit: Pink Sherbet Photography

Evaluating a business idea’s “3 M’s” is a good way to quickly separate the good ideas from the bad. Ask yourself these three questions about each of your ideas:

1. Is there a market?

The first step is to determine if there are enough customers willing to buy your product or service for you to make a living.

2. Is there a margin?

Even if there is a market for your business, you still need to determine if it can earn you a living.

3. Is this for me?

The final step is to ascertain if the business is a good fit for you.

Dr. Cornwall explains this is greater detail on his blog.

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