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Published in:
2019 | OriginalPaper | Chapter
2. How Good Is Your Idea?
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Abstract
This first chapter is intended to help you properly analyse your business idea. We look at who and where your customers are and what they want from you. Then who the competition is and how you are going to compete with them. The analysis looks at both the market you intend to sell to and the industry you will have to compete in. The market analysis includes stakeholder analysis, looking at customer behaviour, planning your market segmentation and a look at market dynamics. The industry analysis looks at the competitive landscape, customer and supply power and how you will keep ahead of the competition.
The chapter is designed to take you through the analysis through a series of questions which, at the end, will allow you to answer the question: Do you have a business?