OS X Snow Leopard on External HD

I intend to install OS X Snow Leopard to a 1 TB Ext HD with the intention of then installing Toast 11 to that OS so I can use the software within Toast called Spin Doctor to do some recordings from vinyl into iTunes. Spin Doctor will not run on Mountain Lion. Does this sound like a viable option or is there a better suggestion out there. Thanks..

It should work. You could also partition your internal hard drive (assuming you have enough room) and install Snow Leopard to a separate partition. You didn't mention which Mac you have, but keep in mind that if your Mac was pre-installed with a later version of OS X, you may be unable to install Snow Leopard.

I am using an IMac running OS X 10.8.2 Mountain Lion. This program called Spin Doctor will not run on Mountain Lion but according to Correl Tech support it will run on Snow Leopard. I don't really want to partition the Mac HD, but I figure I can't do too much damage with the Ext HD. Also, could you give me a hint as to how to create a simple folder on the HD. I changed the formatting from NTFS to the Mac formatting but I have not as of yet found any option as to how to just create a folder to throw some junk into for storage. Thanks for the reply..