Business dreams are fun, but they don’t change the world or make you any money if you can’t turn them into a reality. Many aspiring entrepreneurs are stuck in the idea stage, and only a few have the discipline and the insight to move on to the execution phase. There is no magic formula for building a good business, but I’ve seen enough successful ventures to pick out some common elements.
In fact, as an angel investor, I find that many of the questions in the due-diligence process give me real insight into the maturity of a startup. I offer these same questions to you as a self-assessment of your own progress and ability to transform your idea into a business:
