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5 Step Venture eMentoring Program™

Session 2: Business Idea

Module 2a: Personal Preferences Inventory

The logical first steps for developing a business idea are to conduct a personal preferences inventory and a personal skills inventory. The more nearly the business matches with your interests and strengths, the more likely you are to be happy in the operation, which is usually a strong additional impetus for success.

For the Personal Preferences Inventory Worksheet, look at your hobbies, volunteer experience, and leisure activities. What do you like to do? What don't you like to do? What interests you? What makes you happy? With the necessary business knowledge, something you take pleasure in doing could be a viable business idea for you. Use the following worksheet to start organizing your ideas.

Instructions: Read this list carefully, complete the form, and be as honest with yourself as possible. Your answers will help to identify potential business ideas. Once completed, review this list and talk it over with someone else - your partner, mentor or counselor. Using this as a basis for discussion can often uncover other issues affecting the business development process.

Personal Preferences Inventory
a. List below some of your preferred activities

1. Hobbies

2. Special Interests

3. Volunteer Work

4. Leisure Pursuits

5. Other Activities

b. With reference to the prior categories, respond to the questions below

1. What aspects of these activities do you like the most? Why?

2. What aspects of these activities do you like the least? Why?

3. What types of activities do you consider to be a lot of fun? Why?

4. What courses or subjects did you like to study in school and why?

5. Have you had any jobs that you really enjoyed? What did you like about the job?

6. What are some achievements that you are most proud of? Why?

7. If you could do anything as your own business, what would it be?

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