Story of the RATE Tool - Assessing Business Readiness

In 2019, I was toying with the idea of creating a tool that will answer questions I get repeatedly from people about starting a business ?

a. How do I start a business ?
b. What do I need to start a business ?
c. Where do I start from ?
d. How would I know that I am ready?

Before now I have had to answer questions via email, in a phone chat, WhatsApp reply or short videos or at a side bar during my speaking engagements.
I even thought of creating an eBook or writing a business book about my experience and the knowledge I have gathered working with business owners.

However, after thorough consideration and consultation with colleagues and industry experts, it became apparent that creating an eBook or a book on
Entrepreneurship was NOT adequate to address the issue at hand. A solution that was simpler, scientific, and ever green would do the trick.

Consequently, I developed this tool called the R.A.T.E Tool (Risk Assessment Test for Entrepreneur) that will poses a series of questions to prospective entrepreneurs and through a set of calculations and algorithm, will generate a score that indicates whether a business is primed for launch or not.

Regrettably, the tool sadly did not see the light of the day, because in 2020 when it was due to be launched, COVID-19 hit, and the project was shelved
and also, life got in the way.

A few months ago, I watched a Shark Tank episode ( U.S. reality television series where entrepreneurs present their business ideas to a panel of investors)
served as a catalyst for the revival of this project.

A businessman recounted how a shaving product invented by his father took two decades to reach the market, ultimately being featured on Shark Tank.
His narrative served as a compelling push for me to resurrect the RATE Tool.

A businessman recounted how a shaving product invented by his father took two decades to reach the market, ultimately being featured on Shark Tank.
His narrative served as a compelling push for me to resurrect the RATE Tool.

Today, April 29th, 2024, is indeed a joyous occasion for me and many business owners around the world. It is with great pleasure that I announce the formal launch of the R.A.T.E Tool.

For more details on how get access to the tool please visit

https://rate.suleimanshaibu.com

This diagram explains the benefit of the tool in simple terms.
It will help business owners decide if the business they want to launch is good to go or not.