Evaluating an opportunity does not require a business plan for the analysis. Indeed, the first step prior to producing the plan is to assess whether there is a worthwhile idea at work. Evaluating an opportunity, claims Zenas Block, co author of Corporate Venturing: Creating New Businesses Within the firm, is not the same as evaluating a business plan. In fact, requiring detailed business plans too early in the process can result in wheel spinning and great works of fiction. At first the only issue to resolve is “ Are we interested in pursuing the idea further?”
For the entrepreneur, the evaluation of an opportunity is best carried out by answering the following questions: