Web site calculates entrepreneurial odds.
For the last two years, EquityNet has been developing an online marketplace where investors and entrepreneurs can meet up to decide if they want to do business together, along with offering fee-based risk analysis software.
But a new online tool, dubbed the Odds of Success Calculator available through the StartupNation Web site, may give entrepreneurs some ideas to safeguard themselves.
"The calculator was introduced in response to growing interest among StartupNation site visitors to learn whether they're on the right track or not as they pursue their business opportunities. Interest in the business advice offered by StartupNation has surged recently, with Web site traffic up 210 percent over last year," a press release about the calculator states.
Judd Hollas, CEO of EquityNet, said the data generated by the calculator is not intended to be taken to the bank. Instead, it is supposed to be a ballpark figure to help entrepreneurs make better plans.
Users answer eight questions that should be part of their basic business plan and the calculator kicks back an odds percentage. In a test using made up but prudent numbers, the calculator kicked back a 59 percent chance of success.
"Your odds of success were calculated by comparing your answers to extensive data aggregated by EquityNet," the results page reads. "The performance of hundreds of thousands of businesses was taken into consideration to generate your result." The page gives notes on what factors helped the odds and which hurt the odds.
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|Title Annotation:||NW Journal: A Look at News From Northwest Arkansas|
|Date:||Jul 6, 2009|
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