FAQ
The BV Test (Business Validate) is a valuable tool designed to evaluate and assess your business idea. It helps you gain insights into its strengths and weaknesses by analysing 4 key business areas (Team, Market, Product, Finance), further broken down into 12 specific indicators . By undergoing the test you can identify crucial aspects of your business idea and make informed decisions about its viability and potential for success.
The BV Test enables you to analyze internal factors and external factors that may impact your business. This evaluation provides a comprehensive understanding of your idea’s potential, helping you refine and improve it to increase the chances of success.
In summary, The BV Test is an essential step in evaluating your business idea, allowing you to identify its positive attributes, potential challenges, and opportunities for growth. It empowers you to make strategic decisions and develop a solid foundation for your entrepreneurial journey.
The test comprises a set of 96 multiple-choice questions, accessible upon the purchase of our service. Upon completion, a comprehensive score card will be provided, offering valuable insights into the 12 key business indicators analyzed. Each indicator will be accompanied by specific suggestions tailored to your performance in that area. On average, the assessment takes approximately 30 to 45 minutes to complete.
The BusinessValidate test was meticulously crafted by a consortium of Business Angels and private equity organizations in 2021 with the aim of providing an initial assessment tool for the multitude of funding requests received from aspiring entrepreneurs. Drawing upon their expertise and experience in the industry, a comprehensive set of questions that cover crucial aspects of business viability and potential for success was crafted together with its scoring logic. The questions were designed to evaluate the key factors considered by investors when assessing investment opportunities. The test serves as a valuable resource to help both entrepreneurs and investors gain valuable insights into the feasibility and potential of business ideas seeking funding.
As the project leader, having immediate access to documentation is not required to undertake the test. However, if you have partners who specialize in specific project areas, it may be beneficial to include them in the test-taking process. It is important to note that insufficient information regarding essential aspects of your business can potentially contribute to a lower score in specific areas. Please keep in mind that receiving a high score is not the objective of the test, which is specifically designed to highlight such areas that need improvement.
Unfortunately this feature is unavailable at the moment, but you can always return to businessvalidate.com and retake the test if you have not yet submitted it.
