PESTEL is a checklist of outside forces that can make or break a business even when the product itself is solid: political, economic, social, technological, environmental, and legal. A new law, a recession, a shift in what people care about, a cheaper app, a harsh climate, or a permit rule can all change the plan. Teams scan those forces so they do not treat “we like this idea” as the whole picture.

Related Lessons:

• Click Here for our lesson on Market Research
• Click Here for our lesson on 5 Ways to Assess Business Risk