Entrepreneurs use business ideas to determine whether a business opportunity is

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Entrepreneurs use business ideas to determine whether a business opportunity is

Entrepreneurs use business ideas to determine whether a business opportunity is worth pursuing. This
assessment is designed to determine whether your business idea has a fatal flaw. It is both positive and
beneficial to find a fatal flaw. Place a mark on “Yes”, “Don’t Know” or “No” on the ‘testing your idea
viability’ template (found on the LearnJCU subject site).
Summarise your idea using each of the following headings in no more than two pages.
• what is your ‘business idea;’
• description of your product or service;
• description of your market (i.e., What kind of customers or clients you expect, expressed in
both demographic and psychographic terms);
• what kind of customer relationships you will seek to achieve;
• what will be the ‘value proposition’ you offer to customers or clients;
• what goals you intend to achieve (i.e., achieving what, by when?);
• what partners (if any) you expect to have;
• what ‘key resources’ you will need;
• what competitors (if any) you expect to have; and, last but not least,
• what will be your ‘revenue model’ (i.e. How will your venture make money for you, bearing in
mind your knowledge of the likely customers/clients and your costs?)
You should also attach the results of your ‘testing the viability of your idea’.
Guidelines:
• Pages: two (excluding title page, table of content, references, and appendix)
• Font: Arial 11, Calibri 12, or Times New Roman 12
• Line Spacing: 1.25
• Referencing: APA 7 style
• Minimum references: 10 x academic sources
• Please submit a PDF version of your document.
• Label the document as Your Name_LB5233_Assessment 1

WRITE MY ESSAY