Idea into startup appraisal form
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Idea into startup appraisal form

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This is the worksheet to accompany the presentation "From idea to start-up"

This is the worksheet to accompany the presentation "From idea to start-up"

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    Idea into startup appraisal form Idea into startup appraisal form Document Transcript

    • Idea into Opportunity Appraisal Form 1. Idea Appraisal 1 2 3 4 5 1 2 3 4 5 Does the idea create value over what might already be available? Is this value easily perceived by the potential customer? What risk is involved with the idea? (see risk chart) Does the idea have potential customers and will they support the idea? Can the idea make money? Will this be hard to do? Do I have alternative things I can do with my time? (what is the opportunity cost?) Am I committed? (Am I motivated enough?) Are there great barriers in front of me? (1=yes, 5 = no) Can I handle these barriers? (1=no, 5=yes) Sub-Total (score out of 50) 2. Technology Appraisal Do you have access to the required technology? How expensive is this technology? (1 = most expensive - 5 = least expensive) Are you able to develop the necessary technology? (1 =no, 5=yes) Can you modify existing technologies in a way that will make it less expensive? (1 = very difficult - 5 = very easy) Will the technology give you any advantage over others already in the industry? Sub-Total (score out of 25)
    • 3. Resources Appraisal What resources do you need to make your business idea work? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------1 2 3 4 5 Can you acquire all the necessary resources you listed above? (1 = no 5 = yes) Are there any resources I can't acquire? (1 = yes 5= no) Can I do without them? (1 = no 5 = yes) Can I develop them as I go along? (1 = no 2 = yes) Will the resources you have give you flexibility? (1 = no 5 = yes) Sub-Total (score out of 25) 4. Skills Appraisal What skills do you need to make your business idea work? -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    • ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------1 2 3 4 5 1 2 3 4 5 Do I have the necessary skills to undertake the venture? If, not can I acquire and develop these skills (1 = difficult 5 = yes) Is there a large gap between what skills I have and what skills I need? How critical are these skills I don't have? (1 = critical 5 = not critical) Will these skills you have give you flexibility? (1 = no 5 = yes) Sub-Total (score out of 25) 5. Network Appraisal Do I know the potentially important stakeholders? (1 = no, 5 = yes) Can I get to know the important stakeholders I don't know? (1 = no, 5 = yes) Will these stakeholders support me? (1 = no, 5 = yes) How open and approachable are the important stakeholders in this industry? (1 = Closed, 5 = open) Are there any special membership restrictions in the industry (1 = yes, 5 = no special membership restrictions) Sub-Total (score out of 25)
    • 6. Value Chain Appraisal Where do I want to be in the value chain? What is required for me to get there? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------1 2 3 4 5 Do I know exactly where I want to be in the value chain? (1 = no, 5 = yes) Can I get to that position? (1 = no, 5 = yes) Do I have the skills? (1 = no, 5 = yes) Do I have the resources? (1 = no, 5 = yes) Do I have the networks? (1 = no, 5 = yes) Sub-Total (score out of 25) 7. Strategy Appraisal List the potential strategies I could pursue -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    • ------------------------------------------------------------------------------------------------------------------------------What are my external threats? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------What are my strengths? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------What are my weaknesses? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1 2 3 4 5
    • Are there a number of strategy options for my idea? (1 = no, 5 = yes) Can I overcome any barriers of entry within the market and value chain? (1 = no, 5 = yes) Can I overcome and/or react to external threats? (1 = no, 5 = yes) Do I have the right strengths to pursue my desired strategies? (1 = no, 5 = yes) Do any weaknesses I have prevent me from implementing the strategies I have in mind? (1 = yes, 5 = no) Sub-Total (score out of 25) 8. New Product Development Appraisal 1 2 3 4 5 1 2 3 4 5 Can I make this product or deliver the service? (1 = no, 5 = yes) Do I have the skills, resources, and advice available to help me develop the product? (1 = no, 5 = yes) Do I have the time and patience to develop the product? (1 = no, 5 = yes) Will the cost of the product enable me to sell it profitability? (1 = no, 5 = yes) Will the cost of the product enable me to sell it competitively? (1 = no, 5 = yes) Sub-Total (score out of 25) 9. Business model appraisal Is my vision and objectives clear? (1 = no, 5 = yes) Do I know what my key activities will be? (1 = no, 5 = yes) Do I know what my key capabilities should be? (1 = no, 5 = yes) Am I sure about how I should engage the customer? (1 = no, 5 = yes) Do I know what my revenue streams will be? (1 = no, 5
    • = yes) Sub-Total (score out of 25) 10. Total Evaluation Idea Appraisal (out of 50) Technology Appraisal (out of 25) Resources Appraisal (out of 25) Skills Appraisal (out of 25) Network Appraisal (out of 25) Value Chain Appraisal (out of 25) Strategy Appraisal (out of 25) New Product Development Appraisal (out of 25) Business model appraisal (out of 25) Total Possible (250) Multiple X 4/10 % Score Interpretation 100% Outstanding (the ideal business opportunity) 90-99% Very Good 80-89% Good (the plan is sound with a few areas that need to be refined) 70-79% Above Average (this plan has some good areas but needs reevaluation and
    • improvement) 60-69% Average (some areas covered in detail yet other areas show Weaknesses) 50-59% Below average (most areas evaluation and improvement) Below 50% Poor (plan needs to be researched and documented much better)