The New Business Road Testby John W. Mullins<br /><ul><li> “…provide[s] a reality check for anyone poised to jump into a n...
Slideshow put together by: <br />	Colin Postpost.colin@gmail.comWeb development and e-marketing campaignsImport / export m...
Business Road Test<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
Team Domain<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
Stage 1: Market Domain, Micro-Level<br />What customer pain will you resolve? How strongly will they want to pay? Will the...
Stage 2: Market Domain, Macro-Level<br />How large is the market? How many ways have you measured it?<br />How fast has it...
Stage 3: Industry Domain, Macro-Level<br />What industry will you compete in? Define it carefully.<br />Is it easy or diff...
Stage 4: Industry Domain, Micro-Level<br />Do you possess proprietary elements (patents, secrets, etc.) that other firms c...
Team Domain: What drives your team?<br />What’s your mission?<br />e.g. serve market, change industry, market product…<br ...
Team Domain: Can you execute?<br />What are the few critical success factors (CSF) in your industry? How can you show you’...
Team Domain: Connections matter<br />Who do you know up the value chain among likely suppliers to you and your competitors...
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The New Business Road Test by John Mullins

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Transcript of "The New Business Road Test by John Mullins"

  1. 1. The New Business Road Testby John W. Mullins<br /><ul><li> “…provide[s] a reality check for anyone poised to jump into a new venture without thinking.”</li></ul>– Financial Times<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  2. 2. Slideshow put together by: <br /> Colin Postpost.colin@gmail.comWeb development and e-marketing campaignsImport / export management for US-South AmericaInmersiones ingleses en CundinamarcaFreelance writingwww.expat-chronicles.com<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  3. 3. Business Road Test<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  4. 4. Team Domain<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  5. 5. Stage 1: Market Domain, Micro-Level<br />What customer pain will you resolve? How strongly will they want to pay? Will they pay a price that works?<br />Who, precisely, are the customers with the pain? Detailed info about who, where, etc.?<br />What benefits does your solution have that other solutions don’t?<br />What evidence do you have to show that your potential customers will buy, or that your target segment will grow?<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  6. 6. Stage 2: Market Domain, Macro-Level<br />How large is the market? How many ways have you measured it?<br />How fast has it grown over last 1 / 3 / 5 years?<br />How quickly will it grow over next 2 / 5 / 10 years?<br />What economical, demographic, sociocultural, technological, regulatory, or natural trends will affect your market?<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  7. 7. Stage 3: Industry Domain, Macro-Level<br />What industry will you compete in? Define it carefully.<br />Is it easy or difficult for companies to enter the industry?<br />Do industry suppliers have the power to set terms and conditions?<br />Do buyers have the power to set terms and conditions?<br />Is it easy or difficult for substitute products to steal your market?<br />Is competitive rivalry intense or genteel?<br />Based on the 5 forces, how attractive is this industry?<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  8. 8. Stage 4: Industry Domain, Micro-Level<br />Do you possess proprietary elements (patents, secrets, etc.) that other firms can’t imitate or duplicate?<br />Can you develop processes, capabilities, or resources that other firms can’t imitate or duplicate?<br />Is your business economically viable? Can you show you won’t run out of money quickly?<br />Revenue adequate to investment and margins needed?<br />How much will it cost to acquire and retain customers?<br />How long will it take to attract customers?<br />Will margins cover fixed costs soon?<br />How much cash will be tied up in working capital? For how long?<br />How quickly will customers pay?<br />How slowly can suppliers and employees be paid?<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  9. 9. Team Domain: What drives your team?<br />What’s your mission?<br />e.g. serve market, change industry, market product…<br />What’s your aspiration?<br />Work for yourself, change world, build big or small business?<br />What risks are you willing and not willing to take?<br />Invest your own money? Give up control? Secure salary? Time with family?<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  10. 10. Team Domain: Can you execute?<br />What are the few critical success factors (CSF) in your industry? How can you show you’ve identified them correctly?<br />Can you demonstrate that you can execute on each and every CSF?<br />Can you identify which CSF(s) your team is not well-prepared to meet?<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
  11. 11. Team Domain: Connections matter<br />Who do you know up the value chain among likely suppliers to you and your competitors? Who do you know among suppliers to substitute products?<br />Who do you know down the value chain among distributors and customers?<br />Who do you know across the value chain among competitors and substitute products?<br />Prepared by Colin Post – find me at www.expat-chronicles.com<br />
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