is your idea viable? by nathalie alpi
DESCRIPTION
This talk was given during the workshop 'Start Your Own Business' organised by Bristol Business Mums. November 2013TRANSCRIPT
START YOUR OWN BUSINESS
15 NOVEMBER 2013
IS YOUR IDEA VIABLE?HOW TO FIND THE RIGHT PRODUCT FOR THE RIGHT MARKET
3 CLUES
RESOLVE A PROBLEM OR FILL A GAP
USE YOUR SKILLS & EXPERIENCE
BE PASSIONATE
MARKET RESEARCH
ANALYSE YOUR MARKET
IDENTIFY & UNDERSTAND POTENTIAL CUSTOMERS
ANALYSE YOUR COMPETITION
METHODS & TOOLS
STATISTICS & TRADE REPORTS
OBSERVATION & SURVEYS
SWOT ANALYSIS
GOOGLE KEYWORD PLANNER
STRENGTHS WEAKNESSES
OPPORTUNITIES THREATS
What are your strengths? What do you do better than others? What unique resources and capabilities do you have? What do others perceive as your strengths?
What are your weaknesses? What do your competitors do better than you? What can you improve? What do others perceive as your weaknesses?
What opportunities are available to you? What trends or conditions may have a positive impact on your business?
What trends or conditions may have a negative impact on your business? What are your competitors doing that may impact you? Do you have solid financial support?
HELPFUL HARMFUL
EXTERNAL (ATTRIBUTES OF THE
ENVIRONMENT)
products, pricing, costs, profitability, performance, quality, people, skills, adaptability, brands, services, reputation, processes, infrastructure…
INTERNAL (ATTRIBUTES OF THE
ORGANISATION)
markets, sectors, audience, fashion, seasonality, trends, competition, economics, politics, society, culture, technology, environment, media, law…
SWOT ANALYSIS
Search for new keywords and ad group ideas
Get search volume for a list of keywords
Get traffic estimates for a list of keywords
GOOGLE KEYWORD PLANNER
MARKET TESTING!
BUILD A PRODUCT PROTOTYPE
START TRADING ON A SMALL SCALE
USE FREE COMMUNICATION TOOLS
WRAP UP
BE PASSIONATE BUT BE RATIONAL
TRACK, MEASURE & KEEP RECORDS OF EVERYTHING
!
GOOD LUCK!
