How to decide on your next business

Most argue the best thing to do is focus on just one business at a time, but in spite of that we all have dreams of multiple launches in all kinds of different industries. How do you know which idea to act on next?

Fear not, help is at hand in the shape of a new school of thinking described in this article on openforum.com. Basically, you can pick which idea to run with using a simple scoring system.

By jotting down the factors that influence your decision – paths to market, whether you are passionate about the ideas, which has the greatest chance of success, for example – and rating each against the ideas in your head, you’ll come up with an overall score which solves your dilemma.

It’s a simple idea, but one that could save you a lot of time and confusion in the long run.

Related articles:How to write a business planHave you done a SWOT analysis for your business yet?

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