General Business Viability Assessment

The General Business Viability Assessment tests the viability of any type of business. It consists of 49 questions and may take up to an hour to complete

Anyone with a business or business idea will benefit from this. This is a great starting point if you are new to Venture Navigator.

This assessment explores seven key aspects of a viable business. There are a total of forty-nine questions which can be completed in as little as 15 minutes although you may learn more if you spend more time composing your responses.

This test is based on the The New Business Road Test by John W Mullins of the London Business School. As a starting point it is worth understanding the seven domains model.

The model is comprised of four market and industry domains, including both macro- and micro-levels, and three additional domains related to the entrepreneurial team. These seven domains address the central elements in the assessment of any market opportunity.
• Are the market and industry attractive?
• Does the opportunity offer compelling customer benefits as well as a sustainable advantage over other solutions to the customer’s needs?
• Can the team deliver the results they seek and promise to others?

Once completed, you will be given comprehensive feedback on all your answers in addition to an overview of the favourability of your business venture.The figure to the left presents a graphical overview of these results. In this particular instance, it would seem that the idea being evaluated is not worth pursuing, as demonstrated by the low scores in the micro-market and both industry domains. The more specific feedback provided would facilitate a more specific identification of any problems and provide suggestions on how they might be minimised or avoided.

You can find additional information on the book here, or take the assessment here.