From a ZDNet article:
1. Is there a ‘killer’ application for the first targeted niche? Or is there merely a solution looking for a problem?
2. Do you know exactly what your target niche is? Do you know why consumers in that niche will buy?
3. Do you understand the ‘adoption process’ among the customers in your target niche?
4. Are you aware of the specific needs of each phase of the adoption curve?
5. Are your budget estimates realistic? What percentage of the market must you gain for your business to work?
6. Passion and Trustworthiness: does the would-be entrepeneur have a passion to succeed?
7. What kind of track record does a would-be entrepreneur have?
8. Is the would-be entrepreneur coachable?
9. Leadership and Vision: Entrepreneurs who can motivate, persuade, influence, and communicate effectively are indispensable leaders.
10. Does the future entrepreneur have a realistic path to a liquidity event if needing investors?