Business Plan Training Session 2: Opportunity Assessment
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Section 2: Market Opportunity Definition Chuck Behn 4 August, 2011
description
Explains how to assess the market opportunity and its correlation in the business plan
Transcript of Business Plan Training Session 2: Opportunity Assessment
Section 2: Market Opportunity DefinitionChuck Behn
4 August, 2011
1. Executive Summary2. Product/Business3. Market opportunity definition4. Competition5. Marketing & Sales6. Management7. Finance/Risks8. Appendices
Lucille Ball: dismissed from drama school as “too shy” The Beatles: turned down by a recording company
because “guitar music is on its way out” Michael Jordan: cut from his high school basketball team Thomas Edison: told by a teacher he was “too stupid to
learn anything” Walt Disney: fired from a newspaper because he
“lacked imagination and had no original ideas.” He was rejected by over 300 banks for funding of his theme park
Abraham Lincoln: failed in business twice and was defeated in 8 elections
JK Rowling: lived on welfare for years, failing many times as a writer, before penning the Harry Potter series and becoming the “richest woman in Great Britain”
Can you meet or come close to meeting ALL?
Cadbury’s Gorilla
http://www.youtube.com/watch?v=Wy52yueBX_s&feature=player_detailpage
Behavioralistic
Geographic
Demographic
Psychographic
Customer
Market Size
Potential Market 1,000,000
Available Market (20%) 200,000
Qualified Available Market (50%) 100,000
Target Market (50%) 50,000
Penetrated Market (3% over 5 yrs)
0
1,500
Market Size
Market Need
Market Profitability
How unique is your solution compared to competition?
Broad Market Niche Market
Education
Software Health Care Toys & Games
College SAT preparation
Phone apps Urgent Care
(CareNow) Online Gaming
Can you sell your idea/product to your customer?
"Latte" is Italian for “You paid too much."
Can you sell your idea/product at a profit?
Do you have the right team to succeed?
• Passion• Customer desire
for product/service• Strong team• $$ is king• Trial in parallel
Posted on http://finance.groups.yahoo.com/group/dfw_estartup/
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