Business Idea Dashboard

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?
33%
0%0%
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%
0%
Female Male Other
0%
26%
44%
15%
10% 5%
Up to 16 17 - 25 26 - 35
36 - 45 46 - 55 56 - 65
65+

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
31%
18%26%
10%
15% None 0-2 years
2-5 years 6-10 years
10+ years
56%
20%
21%
3%
0%
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%
0%
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

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?
61%13%
5%
3%
3%
15%
Under £1M £1M - £10M
£10M - £50M £50M - £250M
£250M+ Don't know
13%
54%
18%
0%
5%10%
Rapid growth
Steady growth
Intermittent growth
Low/No growth
In decline
Don't know
31%
33%
10%
16%
5%
5%
Customer has not yet recognised the
need for your product or service
Customer uses alternative solutions
that are adequate but not perfect
Customer has recognised the need but
has not yet allocated a budget for it
Customer has the need and the money
for it and competition is limited
Many similar solutions are already
available to the customer
Don't know or unsure
20%
26%
31%
13%
10%
0%0%
0%
0%0%0%
Working directly with a real
customer or a group of customers
I do not have one
Speaking to friends, family,
colleagues and others close to me
Carrying out online surveys
Desk/web based research

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
Marketing
Market
Channels
14%
6%
3%0%
0%
69%
8%
0%
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
appointments, online sales demo's,
telesales)
Public relations (e.g. Newspaper and
magazine articles/reports, TV and radio
presentations)
36%
0%
13%
43%
8%
0%
Selling directly to customers
Using intermediaries such as
distributors 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%
0%
3%
18%
I have some idea as who they
could be
I know who they are likely to be
I know who they are and know the
key decision makers I need to
speak to
I know who they are, who the key
decision makers are and already
have a relationship with them
13%
5%
36%
44%
2% One off purchase Rarely
Sometimes Frequently
Don't know

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?
28%
49%
18%
5% High Average
Low Don't know
30%
9%
0%43%
12%
6%
Cannot stop them
Offer lower prices
4%0%
9%
30%
57%
0%
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%
2%
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

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
@therapideval
therapidevaluation.com
Blog.therapidevaluation.com
contactus@therapidevaluation.com
Get in touch
Flashback by Joshua C. Harris
from The Noun Project
Earth by Thibault Geffroy from
The Noun Project
Graph by Mister Pixel from
The Noun Project
Team by Björn Andersson
Graph by DEADTYPE from The
Noun Project
Research by Brennan Novak
Credits under Creative Commons
Data collected via the revised Rapid Idea Evaluation App
Sample size: First 100 Users, Date: June 2014
Geographical analysis completed with ZIP codes and/or IP Address
Methodology

Business Idea Dashboard

Recomendados

Recomendados

Más contenido relacionado

Último

Último (20)

Destacado

Destacado (20)

Business Idea Dashboard