Starting a business is not for the risk averse. But in an effort to help entrepreneurs assess just how much risk is associated with launching or running their business, StartupNation.com, a website that provides business advice and networking for entrepreneurs, recently introduced an Odds of Success Calculator.
The business valuation device calculates a business owner’s odds of success based on eight factors: amount of capital investment, difficulty in obtaining funds, quality of financial management, degree of business planning, annual industry growth rate, management experience, industry experience and timeframe.
After a short questionnaire, the online tool computes the probability of success by accessing a database that compares the company against hundreds of thousands of data points of other companies.
Photo by svilen001.