When considering any business idea here are the top 5 questions any entrepreneur should ask when testing a business idea.

1. How much time/effort will the idea to implement?

Most business ideas are “good ideas” but are they easily to implement with the least amount of time and effort possible? I’m a huge believer in Tim Ferriss’ 4 Hour Work Week and how he breaks down Parretto’s 80/20 rule; 80 percent of your profits come from 20 percent of your efforts. If you want to run a business you’ve got to prioritize where you put your time/effort and forget the little things that don’t bring you closer to your goals.

2. Is the idea profitable?

Business is about the bottom line. How does your idea effect your profits? Many ideas don’t affect the bottom line directly, but will benefit profits somehow in the long run, whether it’s customer relations, branding, human resources, etc. While all these business units are critical to running a successful business, these type of ideas need to revisit question #1–is it worth implementing?

3. Does the idea fit your businesses long term strategy?

Always know your company’s direction and always consider whether your new ideas fit with your businesses culture/strategy. Think about getting your business from Point A to Point B; from where you are to where you want to go; does this idea, get you to Point B? Now, consider trying to plan getting from Point A to Point B in as few steps as possible. When you get to Point B it’s time to re-evaluate your strategy and find a new Point B; set new goal and plan your route to get there.

4. How will the public view your idea?

Your customers, the media, your competition and the general public all need to be considered when testing your idea. Think about Heinz and their Green Ketchup–this took thousands of dollars in market research to be sure the public was ready. Launch an idea like this and it flops? You lose serious credibility in the market. Launch an idea like this and it sees incredible success? Everyone remembers your name.

5. How will your employees view your idea?

Great leaders learn quickly that pushing your ideas onto the people who are supposed execute them without their consent is a death sentence. Great leaders let their team come to their own conclusions and do more listening then talking. Sure, share your ideas with the team, but let them run with them–especially if it’s them who will be implementing it! Everyone loves to execute their own ideas, so let your team rally behind the idea and expand upon it themselves. Put your ego aside and let the team feel like their executing their own agenda.

Matt Wilson is co-founder of http://Under30CEO.com a company dedicated to helping young people get passionate about what they do for a living. Under30CEO is currently launching a social network for young entrepreneurs.