Based on 15 priorities, how do I rank business ideas on a scale of 1-7, with 7 being the highest?
I have a business assignment for which I need to come up with the ideas that best fit my criteria. I’ve established a personal criteria. I now have some business ideas that I need to rank against the aforementioned criteria and give a rank from 1 – 7.
How do I do that?
1. First, you have to give a weight for each of the criteria that you came up with. You give weight by giving each critria points in a 1 to 10 scale, or 10 to 100 scale. The most important criteria that you can’t do without is given 100 points. An importortant one is given 90. A not such important criteria is given 30 points. etc.
2. Next, you go through each of your ideas, and see which criteria they answer. Add up the weight of all the criteria it answers, and that way each idea gets points. It gets the number of points for all the criteria it answers.
3. Put the ideas in order of points, from highest to lowest. The idea with the highest points gets a rank of 7 on your 1 – 7 scale. the idea with the lowest amount of points gets a rank of 1. Fit in the other ideas occarding to how many points they have.