Your Grade For Your Business Idea
Vermicompost
Description: We make worm castings and worm tea in singapore
52.5 out of 100
- Strong entry barriers.
The resources needed to launch this business (time, skill, money) is a great entry barrier to help insulate this business from future competition. If you have the resources to make it happen, this is a huge strength. - Consumable product with moderate repeat use.
Looks like your product/service can be used occasionally, creating repeat buyers while generating some momentum in customer and revenue growth. With a repeat use product/service, marketing efforts and their financial returns expand.
- Some worrisome third-party dependencies.
Looks like you have some substantial third-party risk. When this occurs, your business will be subjected to the whims of a corporate patriarch. For instance, if you invent a product and only have two customers (Walmart and Amazon), your business will be subject to the decisions of those entities. While such dependencies can go on infinitely with no issues (while still making a good profit) it does introduce some risks to be concerned about. - Teeny-tiny market size
The size of your market is a huge concern. If your market isn't large enough, there may not be enough buyers to make your business worth an investment. If your 'best case scenario' just pays bills, is it really worth pursuing? With such a small market, you will need to execute perfectly. The only exception to this is when you have a big-ticket product or service. - Potential time dependencies.
Looks like your idea will require a lot of your time. While this isn't a deal killer (most businesses require HUGE time investments) eventually you'd like to transition out of the 'work for money' equation. This is only done through automation. - SIGNIFICANT FACTOR: Some effort required to reach potential buyers.
Reaching buyers might require a bit of expertise, money and creativity.
- Average need
The need you've identified, or the relative value as compared to existing options is just average. The need you're solving (or the unique value you're providing) is the most important. - Average replication ability.
Replicating your product is not relatively hard. While there might be some challenges in meeting a huge demand, you should be able to make it happen with some adjustments and/or investments in resources; human, financial, or digital capital. Your ceiling on wealth creation is correlated to this metric as it correlates to your ability to meet demand.
D+ Your idea needs a little work. It's unlikely this business will change your life, but it might be good enough to provide you with a livelihood that pays bills. Sadly, it might also waste your time and money. As an Unscripted Entrepreneur, you should aim for better.
Your Idea's Lifetime Potential Value Within The Execution Scale
The following chart are estimates of this idea's value based upon the assumption that you have the resources (time, money, skill) to bring the idea to market in a full committment.
| Excellent Execution | $2,500,000 or more... |
| Above Average Execution | $750,000 |
| Average Execution | $100,000 |
| Below Average Execution | $10,000 |
| Poor Execution | $0 or less... (losses likely) |
SAVE, LINK, OR BOOKMARK YOUR GRADE: Copy link below.
REMINDER: Your business idea's grade is based on the information you provided and follows the GIGO principle: Garbage In, Garbage Out. If you were not subjectively honest in your answers, or if your answers were based on faulty research and/or data, your grade will not be accurate.
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The C.E.N.T.S. Framework is a business strategy created by multi-millionaire entrepreneur and international best-selling author MJ DeMarco. As detailed in his two best-selling books The Millionaire Fastlane and Unscripted (translated worldwide in over two dozen languages) CENTS is an evaluation system that allows entrepreneurs to judge their ideas based on the their potential for life-changing outcomes: Massive success, financial freedom, passive income, and other results that go beyond just paying bills for the month and then repeating.
The CENTS Framework consists of 5 weighted factors as shown, plus an accessibility factor.
Want to discuss your business idea? Visit the forum and post a thread with a link to your evaluation!
- Control: Will any one entity reign over your business?
- Entry: How easy or hard will it be to compete against you?
- Need: What kind of value proposition and skew will you offer?
- Time: Can your value proposition exist separate from you?
- Scale: How often can your value be consumed and by how many?
- Access: Can you effectively reach your target audience?
Are you sitting on a GOLD-MINE? If your business idea scored well, get to work today! Learn how to turn your business idea into a multi-million dollar enterprise that goes beyond paying bills-- build something that will win your freedom for a lifetime. Start today— visit the entrepreneur discussion forum or download any of the books that will show you the way...
