Please enable JavaScript.
Coggle requires JavaScript to display documents.
(4) Conducting a feasibility analysis and designing a business model -…
(4) Conducting a feasibility analysis and designing a business model
Idea assessment
Value proposition
Core competencies
Offering
People
Customers
Business planning process
(6) Creating a strategic plan
(7) Launching the business
(5) Crafting a business plan
(4) Developing a business model
(3) Conducting a feasibility analysis
(2) Conducting an idea assessment
(1) Business ideas
Feasibility analysis
Entrepreneur / team feasibility:
Is this idea right for me?
Core values
Personal entrepreneurial readiness
Personal aspirations and priorities
Financial feasibility:
Is there enough margin?
Estimated earnings
Time out of cash
Capital requirements
Return on investment
Product or service feasibility:
Is there a market?
Primary research
Prototypes
In-home trials
Focus groups
"Windshield" research
Customer surveys and questionnaires
Secondary research
Trade associations and business directories
Industry databases
Demographic data
Census data
Forecasts
Market research
Articles
Local data
Internet
Industry and market feasibility
Competitive environment
Customers
Substitutes
Competitors
Suppliers
Macro environment
Sociocultural forces
Technological forces
Economic forces
Demographic forces
Political & Legal Forces
Global forces
Industry analysis:
Porter's Five Forces Model
Threat of new entrants to the industry
Threat of substitute products or services
Bargaining power of buyers
Rivalry among existing firms
Bargaining power of suppliers
Five forces matrix
Industry analysis:
Market Niches
Niches change
Niches can go away
Entering a niche requires adaptability in your initial plan
Niches can grow
Developing and testing a business model
Business model canvas
Key activities
Key resources
Channels
Key partners
Customer relationships
Value proposition
Revenue streams
Customer segments
Cost structure
Business modeling process
Phase 2: Test the value proposition with customers
Phase 3: Test the product with prototype or minimal visible product
Phase 1: Develop the business model canvas
Phase 4: Pivot business model until ready to expand
Product pivot
Customer pivot
Revenue model pivot