In an effort to help small business owners correctly determine the risk associated with starting a business, an Odds of Success Calculator has been unveiled by business advice and networking website StartUpNation.com.
Eight factors are used to determine the chance of success for an entrepreneur: amount of capital investment, difficulty in obtaining funds, quality of financial management, degree of business planning, annual industry growth rate, management experience, industry experience and timeframe.
After completing a questionnaire, the utility calculates the probability of success by comparing the company with data points of up to thousands of other companies.
The idea for the calculator was in response to site visitors wanting a tool that could tell them if they’re on the right track or not. It’s also a bit entertaining – giving quick and definitive results.
Learn more and see how Twitter fared on the calculator by reading this Daily Dose post from Entrepreneur.com.
