25 May HOW TO PURSUE THE OPPORTUNITIES IN DAILY LIFE?
¦The Benefits of the Product or Service: This section describes the benefits of the product or service and includes an account of how the product or service adds value and/or solves a problem.
Validate the UnderlyingPremise of the Product or Service Idea
This isaccomplished by showing the concept test to potentialcustomers and askingthem to complete a short questionnaire and offercomments and suggestions on how the ideacanbestrengthened.
Help Develop the Idea
Based on the results of the initial concept test, many entrepreneurs tweaktheiridea and then show a revised concept statement to another group of potentialcustomers.
This processcanberepeatedseveral times to help develop and strengthen the idea.
Try to Estimate Sales
Some type of buying intention question appears in almostevery concept test to try to determine how many people willactuallybuy the product or service.
ThreePrimaryPurposes for a Concept Test
Explain a concept statement and its contents.
Statement
¦A Description of How the Product willbePositioned Relative to SimilarOnes in the Market: A company’s position describes how itsproduct or service issituated
relative to competitors.
¦A Description of How the Product or Service willbeSold and Distributed: This section specifieswhether the productwillbesolddirectly by the manufacturer or throughdistributors or franchisees.
Chapter 6- Overview
1. What are my goals?
2. Do I have the right strategy?
3. Can I execute the strategy?
4. How do I characterize the business I have started?
5. How to pursue the opportunities in daily life?
Below is an expansion of these five categories
1. How to develop your idea
a) Not first but rather second, once you have an idea, focus on or rather imagine the process that your idea entails. Ex. My idea involves home appliances, therefore I should think about talking with the people who use these appliances and assure myself that my work will be of interest.
b) Gather group members to talk about the process (incidentally, not formally)
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