Transforming Entrepreneurial Concepts

Question 1

HOW TO DEVELOP YOUR STARTUP IDEA

Answer 1

1.Consider and analyse the relevant markets

2.Note down your ideas and expand them

3.Carry out competitive analysis

4. Model your business
   Nine building blocks of your business model:
5. customer segments,
6. value propositions,
7. channels(to reach out to clients),
8. customer relationship,
9. revenue streams,
10. key resources,
11. activities that create value,
12. key partners, and
13. cost structure.

5.Create/design/sketch your mockup and then test
it
* Prototype testing
* Market testing

• 6.Execute a market survey
• 7.Develop your final product
• 8.Gathering customer feedback and measuring
  your business results

Question 2

ideas generating techniques

Answer 2

1. brainstorming
2. storyboarding
3. scamper
4. the 5 W’s
5. listening
6. mind mapping

Question 3

scamper

Answer 3

The word SCAMPER is an
acronym.
* S -Substitute
* C – Combine
* A – Adapt
* M – Modify
* P – Put to another use
* E – Eliminate
* R – Reverse

Question 4

Failing to create a successful brand

Answer 4

Not thinking analytically.
*Not maintaining the brand.
* Trying to appease everyone.
*Not knowing who you really are.
*Not fully committing to branding.
*Not sharing the joke.
*Not having a dedicated marketing plan.
* Trying too hard to be different.
*Not knowing when you have got them

Question 5

Brands that failed

Answer 5

Nokia
Ambassador
Nano
Logan

Question 6

successful comebacks

Answer 6

starbucks
magi
lego