The main message of this manual is to stress the importance of prior planning and thinking through your idea. Prior planning encourages systematic thinking by management and leads to the development of proper controls. The result is a better overall preparedness and a more vivid sense of the interacting responsibilities.

The first step in the process is generating your idea. This is only the very first step; many things remain to be done before you can expect to realize and make money from the idea. At the minimum level your ideas will need to pass several tests so that you may determine whether or not it is an original idea, whether the idea can be produced and distributed profitably, and whether or not your idea can be protected. This seems simple enough until you examine the underlying questions that must be resolved. For example, to determine the commercial merit of an idea the following areas should be considered:

• Functional Feasibility Distribution
• Environmental Impact Safety
• Functions Perceived Need Profitability Existing Competition
• Potential Sales Societal Impact
• Potential Market Development Status
• Product Life Cycle Investment Costs
• Usage Learning Trend of Demand
• Product Visibility Product Line Potential
• Service Need
• Durability Promotion
• New Competition Appearance
• Functional Feasibility Price
• Production Feasibility Protection
• Stability of Demand Pay-Back Period
• Consumer/User Compatibility Marketing Research
• Product Interdependence Research and Development

It will take a great deal of personal commitment to turn your idea into reality. Small business owners must be willing to work exceptionally long hours and often forego financial rewards in the early stages of their operations, if these rewards come about at all. All too many businesses fail, but proper planning and dedication will certainly increase your chances for a successful venture.