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54 thoughts on “How To Evaluate Business Opportunity and Idea”

  • Interesting you mentioned the $100,000, that projection just came out of my numbers. Well, now it's time to ask the 3 questions. Thank you!

  • Johnny Brascom says:

    there are many business opportunities online and offline. When evaluating these business opportunities, make sure that the business is established. Most of all, the business is what you like and believes in. If you don't believe in what you are presenting, then the people you are presenting it to won't either.

  • didn't expect im being so inspired by Dan. down to earth insights that a lot of business ppl/ books wouldn't have tapped in. thank you from HK.

  • Dan, geez, I am addicted to these videos. I am taking notes like I am in school again. It is amazing at the wealth of information that you provide. Thank you Dan.

  • You are the absolute best!! Nurturing to the spine!! Filling in the exact details I already had within but didn't know how to articulate. Thank you for taking that frequency from the air, practicing it and transforming it into words for all of us. Cheers Dan!!

  • Thank you. So many repeat the same thing over and over, but you do provide insight which speaks highly on what kind of person you are.

  • The risk evaluation seems to be a paramount piece of the process, however from what I've assessed, every business has risk but its interesting how simple its disected as opposed to the grouling process of elimination.

  • Abdi Aziz Ibrahim says:

    What I learn from Dan lok its that what ever business u do u have to think first the risk benefit before profit desirable , invest what u can to lose in long run and have a Cash so if down turn you can recover or change ur business model to another ,this much better strategy to create ur own business and could become long sustainable success business rather than putting ur eggs one plate assuming that every things will be OK and Honey ,bad assumption.

  • Very nice! The way of thinking is so important. You have to ask the right questions in life and it opens up possibilities you never thought about. Thank you very much for sharing the 3 questions at the end.

  • Watching your videos every morning Dan, reality bites! Nice signs, it was quite obvious; Dont go to that restaurant business since his risks was too high. ^^

  • Main takeaways are to ask myself daily:
    1. What could go wrong?
    2. What don't I know?
    3. What don't I see?
    Thank you, Sifu.

  • Hey Dan, you closed me on HTC. I have a question – why did you do two HTC videos – one with Kayvon, one with Stefan James. I'm okay with the answer that you would rather not answer that, but I'm curious either way.

  • The Schmidts says:

    Amazing business mind. I have been extremely successful in Sales and Business Development, but after 25 videos you've now become one of my main resources of new thinking.

  • Thank you Dan you're excellent. Getting to know you for the past month has made my world better,,,,, here at Planet David.

  • Sylvan Forsberg says:

    In One Deal The Guy Want To Buy 100 mackbooks A Day At $600 A Peice I Can Find A Way to The Laptops At $200 Apeice

  • Lou Pulkkinen says:

    I believe that if that fellow Filipino would listen to you then he would think of other ways or other business he could get into and become more profitable. Good stuff Don!

  • Dan, You have such great taste when it comes to fashion! That suit is so incredibly modern. I love it!.. and as always, great advice.

  • Wow Tobey! Nung una ka palang nag salita may kutob nako pinoy ka haha! Astig you actually attended Sifu Dan’s lecture 😍 πŸ‡΅πŸ‡­ much love!

  • How is "What don't I know?" different from "What don't I see?" ? You wouldn't be able to see what you don't know. What am I missing here?

  • Benjamin Schroeder says:

    Restaurants are the LOWEST profit margin business to start. Do not, under any circumstances, start a restaurant unless you know exactly what you are doing. The margins for the business in the US are 1-3%. That can get eaten up so quickly, especially if you have servers that are not careful and break stuff, refrigerators that break and ruin thousands of dollars of product, health inspections that will gut your business unless you know what to look for, dropped food, overcooked food, undercooked food, the 'I didn't like it but I ate three-quarters of it' food, the 'server made a mistake' food, the 'kitchen made a mistake' food and on and on and on. The only way you make money in a restaurant is to turn and burn those tables. Get those butts in the seats and practically shove the food down their throats to get them out as fast as possible. Squeeze as many seats as you can into the floor. Otherwise, you have to have a specialty, which requires much higher food costs (like a high-end steakhouse whose goal is to hit 35% food costs, but usually hits 40%). It's either that or you raise prices.

    Of course, that's just on a 'selling the food' basis. If all you sell is food, you'll lose unless you're Gordan Ramsey. You have to sell the experience of eating in your restaurant, not just the food you cook. Mediocre food with a great atmosphere will keep people coming in. Great servers will keep people coming back, even if the food isn't so good. Add a bar and you get a lot better margins, as alcohol can sell a whole lot more of that greasy, otherwise unappealing food. You still have to turn and burn the tables, but if you have repeat guests, you might have time to thank them before they leave every once in a while.

    Sry for the dump, but I've had to open a restaurant (one that had an already established client base) and it was hell for six months after I gave up on it. Even if you properly run the business, you're talking about being there every second of every day and then some. You may as well put a cot in the back room and sleep there because you'll be working 90+ hours a week. It is not for people who want to make money.

  • Jakrapatra Lauhawatana-HTC Graduate says:

    Evaluate business opportunities and ideas… dangerous words are:
    – my business is different

    How to think and how to view about the business. The battle is won even before it was fought.

    Avoid bad assumption in business, make sure to be measuring every aspect that can be measured

    What could go wrong?
    What don’t i know?
    What don’t i see?

  • Dan you are Awesome πŸ‘πŸ˜‡
    Thsnk for sharing these videosπŸ†πŸ’ŽπŸ’ŽπŸ’ŽπŸ’ŽπŸ’ŽπŸ’ŽπŸ’ŽπŸŽ‰πŸŽ‰πŸŽ‰πŸŽ‰πŸŽ‰πŸŽ‰πŸŽ‰πŸŽ‰πŸŽ‰πŸŒŽπŸŒŽπŸŒŽπŸŒŽπŸŒŽβ­β­β­β­β­

  • yshk viswanatham says:

    Four days back on business negative way going now how can positive expression there is two minds at you why we are die ? Why we study ? We study for living on Earth with comfortably life .we get good job monthly returns comming your living in better life you have plan it yourself without education can you do all thouse things we are studying Msc Bed good teacher post assigned. 1986 started salary RS 1300/- in 2015 1,30,000/- salary hike in 100 times we read so many books for knowledge 30 years service what givesπŸ”Što me good son higher education good job in New Delhi. His wife also Msc worked in TCS sixyears job she want to other two countries she is studying in good nature she is earned money in six years continuously .how it possible she is Msc stuided it gives 10+2 get this oppertunity . Why we study ? Are you understand now knowledge is circulated to others they will pay some thing to him then he has positiveness created .three years extarodinate work submitted to you last two and half years what you give me zero this is my respect at you good honour .by you . When you give it then better way going still normal going . Next why we die.

  • β€œThe Number One Key To Business Success Is To Avoid Bad Assumptions … All The Problems In My Life Started Off As A Good Idea.”

    Love it!!

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