If you’ve got any sort of entrepreneurial cell inside, you would have asked yourself this question at least once: “I wonder, would this make a good business?”

Here’s a handy checklist to separate the “nice ideas” from the ideas with real potential.

Albert Einstein famously said that “In the middle of difficulty lies opportunity.” Covid-19 has provided plenty of opportunities for businesses to test Einstein’s theory. Difficulty has come at us from all angles including loss of revenue, staffing issues, lack of supply, working from home, childcare, and navigating government support and regulations.

We’ve all heard of the SWOT analysis—looking at the internal strengths and weaknesses and external opportunities and threats facing your business—but its lesser known cousin, the PESTLE analysis, deserves it’s own spot in the business strategy board meeting. Here’s why.

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