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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