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.
