Post on 09-Jan-2017
Sectors Skills Needed
Overview Demographics The Team Sales & Marketing Finance & ResourcesMarket Research
Summary
Which key skills do you require to execute your business ideaIn which sector would you place your potential new business
Business Idea Dashboard June 2014
Education
AgeGender
How old are you?
To what level is your
education?
What is your gender?
Overview Demographics The Team Sales & Marketing Finance & ResourcesMarket Research
Summary
33%
8%13%
46%
Postgraduate university degree
University doctorate
Didn't really go to school at any level
High School
Post high school vocational training
Undergraduate university degree
49%51%Female Male Other
26%
44%
15%
10%5%Up to 16 17 - 25 26 - 35 36 - 45
46 - 55 56 - 65 65+
Business Idea Dashboard June 2014
Motivation Industry Experience
CapabilitiesTrack Record
What is the primary reason
you are starting a business?
How many experience do
you have in the industry in
which you are starting?
Which of the following resources and capabilities do you or your team posess? Leadership, Sales, Marketing, Operations, General Management, Technical and/or specialist knowledge
To what extent have you previously
been involved in a startup business?
16%
39%11%
13%
18%3% I don't want to work for
someone else
I have always wanted my own company
I have seen a gap in the market
I want to build wealth
I want to capitalise on an idea
Other
Overview Demographics The Team Sales & Marketing Finance & ResourcesMarket Research
Summary
31%
18%26%
10%
15%None 0-2 years
2-5 years 6-10 years
10+ years
56%21%
21%3%
None
I have worked for a start-up business
I have run my own business
I have run more than one business
Don't know
3%
28%
38%
26%
5%1 or 2 of the capabilities
3 of the capabilities
4 of the capabilities
5 or more of the capabilities
None of the above
Don't know
Business Idea Dashboard June 2014
Customer Needs
Customer Development
Market SizeMarket Trend
What would best describe the customers needs for you
product or service?
How will you gather and incorporate
feedback from potential
customers?
What is the total annual size of your
primary target market?
To what extent is your primary
market growing?
Overview Demographics The Team Sales & Marketing Finance & ResourcesMarket Research
Summary
62%13%
5%3%
3%15% Under £1M £1M - £10M
£10M - £50M £50M - £250M
£250M+ Don't know
13%
54%
18%
5%10% Rapid growth Steady growth
Intermittent growth Low/No growth
In decline Don't know
31%
33%
10%
15%
5%5%
Customer has not yet recognised the need for your product or serviceCustomer uses alternative solu-tions that are adequate but not perfectCustomer has recognised the need but has not yet allocated a budget for itCustomer has the need and the money for it and competition is limitedMany similar solutions are already available to the customerDon't know or unsure
21%
26%31%
13%
10% Working directly with a real cus-tomer or a group of customers
I do not have one
Speaking to friends, family, col-leagues and others close to me
Carrying out online surveys
Desk/web based research
Business Idea Dashboard June 2014
How frequently will your
customers make repeat purchases of
your product or service?
How clear are you on who your next 3
customers will be?
How do you intend to
promote your product or
service offering?
How are you going to sell
your product or service to potential
customers
Revenue Streams Selling
MarketingMarket Channels
Overview Demographics The Team Sales & Marketing Finance & ResourcesMarket Research
Summary
14%
6%3%
69%
8%
Word of mouth (e.g. face to face recommendations or social media)Advertising (e.g. Print ads, radio, television, billboard, Facebook, Google)Personal selling (e.g. sales ap-pointments, online sales demo's, telesales)Public relations (e.g. Newspaper and magazine articles/reports, TV and radio presentations)Direct Marketing (e.g. mobile messaging, email, fliers, letters)A combination of a number of the aboveAll of the aboveDon't know
36%
13%
44%
8%Selling directly to customers
Using intermediaries such as dis-tributors and retailers
Online via the Internet
Combination of two of the previous options
Combination of all channels
Don't know or unsure
33%
33%
13%
3%18%
I have some idea as who they could beI know who they are likely to beI know who they are and know the key decision makers I need to speak toI know who they are, who the key decision makers are and already have a relationship with themI am already in discussions with themDon't know who my next 3 big customers will be
13%5%
36%
44%
3%One off purchase Rarely
Sometimes Frequently
Don't know
Business Idea Dashboard June 2014
Profitability Timescales
FundingProtection
What kind of profit margin will you make on the product or service you
sell?
By when do you expect
your business to become profitable?
How much financial
investment, if any, is required
to start your business?
How will you protect
yourself from competitors?
Overview Demographics The Team Sales & Marketing Finance & ResourcesMarket Research
Summary
28%
49%
18%5%
High Average Low
Don't know
30%
9%42%
12%6%
Cannot stop themOffer lower pricesCreate a dependency for the customer ensuring they only buy from you (eg razer blades or printer cartridges)Create a strong brand and pro-tect it (via copyright, trademark, design rights)Have a patent or exclusive licensing agreementDon't know
4% 9%
30%57%
More than £1 million
£500,000 to £1 million
£100,000 to £500,000
£10,000 to £100,000
Less than £10,000
Don't know
18%
3%
46%
18%
13%3%More than 3 years
Between 2 to 3 years
Between 1 to 2 years
6 months to 1 year
Less than 6 months
Don't know
Business Idea Dashboard June 2014
What Stands Out?
GROWTH SECTORS Health, Education, Retail
JOBS OF THE FUTURE? Marketing in Health industry or Education sector?
WOMEN MATCH MEN 51% Male, 49% Female users
EDUCATED ENTREPRENEURS Almost 80% have at least an undergraduate degree
MOTIVATED BY FREEDOM & CONTROL Over half either always wanted own company or NOT to work for someone else
LIMITED EXPERIENCE Almost half have NO experience in sector AND in any kind of Startup environment
MICRO AMBITIONS Over half the ideas have a TOTAL market size of $1m. Over half need less than $10k to fund their idea
NOT ENOUGH CUSTOMER FOCUS 57% are gathering market feedback from friends/family or not at all. 66% are unclear on who their customers will be
Overview Demographics The Team Sales & Marketing Finance & ResourcesMarket Research
Summary
@therapidevaltherapidevaluation.com
Blog.therapidevaluation.comcontactus@therapidevaluation.com
Get in touch
Flashback by Joshua C. Harris from The Noun ProjectEarth by Thibault Geffroy from The Noun Project
Graph by Mister Pixel from The Noun Project
Team by Björn Andersson from The Noun Project
Graph by DEADTYPE from The Noun Project
Research by Brennan Novak from The Noun Project
Credits under Creative Commons
Data collected via the revised Rapid Idea Evaluation AppSample size: First 100 Users, Date: June 2014
Geographical analysis completed with ZIP codes and/or IP Address
Methodology
Business Idea Dashboard June 2014