Venture Planning:

Venture Map to Financing

Venture Planning Checklist: Venture Model

How can you turn the idea into a viable business?

By Venture Planning Associates. Used by permission.

Entrepreneurial Assessment     Customer Assessment     Venture Model     Financial Assessment     Reality Check

Questions to Answer Before Starting Your Venture

5.    Venture Models: How can you turn the idea into a viable business?

Business Model: Key Elements

  • List all the possible customer/product concepts to meet the needs

  • Can you do this best by R&D with licensing, distribution, retail, or service company models?

  • Brainstorm and list all concepts. The last 20% will be the strongest ideas.

  • After listing and outlining all concepts, choose the best three that will serve your customers.

  • Next, ask yourself is it unique, can it be copied, and how can I make it competition proof?

  • Is there current competition and how will I gain a competitive edge over them?

  • How much time is needed for the pre-startup phase and how does it affect the window of opportunity?

  • How can you shorten the time frame or extend the market window? What factors control the time frame and how can it be impacted by others or outside events?

  • How can you control risk? Can you pre-sell or pre-qualify likely sales?

  • What are the major risks associated with the model and how can you reduce the risk?

  • Has anyone else started a similar venture? Do you know what their mission, experience and results were? How long did it take them to get started? What resources were required and what are the lessons learned from the venture?

  • What type of venture is this? Lifestyle, High Profit, or High Growth?

  • Compare the answers to all three of these models and evaluate the results.