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- What’s the ROI on Your Next Idea? (January 28, 2025)
What’s the ROI on Your Next Idea? (January 28, 2025)
Dave Lavinsky
January 28, 2025
Here’s what we will cover today:
Learn how to create financial projections to assess new growth opportunities
Discover the importance of compelling market research in attracting investors
Do you know who the first female self-made millionaire in America was?
Quote of the Day
"A man should never neglect his family for business.”
~Walt Disney
Today’s Tip
Yesterday, I told you about the importance of conducting market research to assess growth opportunities. In addition to market research, you must create financial projections to assess new ideas.
Specifically, you should create financial projections that show the potential impact on your bottom line should you choose to pursue these opportunities.
In developing these projections, be sure to identify the resources required to execute the opportunity (including cash and human resources), the time needed (in months) to do so, and the best, worst, and average-case scenarios.
Developing accurate financial projections for each potential growth opportunity will help you choose the one(s) that will have the greatest return on investment for your company.
Today’s Resource
Make Investors Say “Yes!”
Successful business plans share one thing: compelling market research.
It’s what convinces investors your idea is worth their money.
Growthink delivers everything you need from customer demographics to competitive profiles.
Win over investors.
Trivia
Today’s Question: She made her fortune by developing and marketing cosmetics and hair care products for black women. She's also listed as the first female self-made millionaire in America in the Guinness Book of World Records. Who is this woman?
Previous Question: He attended the University of Georgia and owned several agribusinesses before entering politics. He has served as the Secretary of State in his home state while in the midst of an extremely close governorship election. He received national attention when his state was one of the first to start the "re-opening" process during the COVID-19 pandemic. Who is this man?
Previous Answer: Brian Kemp
Born in Athens, Georgia, Kemp is a graduate of the University of Georgia. Before entering politics, he owned several agribusinesses, financial services, and real estate companies. In 2002, he was elected to the Georgia State Senate.
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