Marcus Lemonis from the CNBC show The Profit has a checklist for would-be business owners—a few questions that you should ask yourself before you embark on launching a business—or ask people to invest in it.
- Would you buy what you’re selling?
- Do you have the skills or connections to make this product or business a reality?
- What do your friends and family think of your idea?
- Do you have money of your own that you are willing and able to invest in your idea?
One more thing: You need a 30-second pitch for potential investors that shows you have thought through every angle of your idea.