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Entrepreneurship: Finding and Testing Your Business Idea

Entrepreneurship: Finding and Testing Your Business Idea

41mIntermediate2021-07-19

Authors

Dave Crenshaw

Dave Crenshaw

Author and Leadership Coach specializing in productive leadership

Course details

The prospect of starting your own business from scratch can feel at once exhilarating and overwhelming. Before you launch a new business, it's critical that you validate and test your ideas to determine if they represent legitimate market needs. In this course, Dave Crenshaw helps you determine first which businesses are best suited to you as an entrepreneur, and then how to brainstorm ideas and identify which idea is a real opportunity. Lastly, he helps you create and execute a plan to test for validity before you start a business.

Topics include:
Recognize effective an ineffective starting points for finding new business ideas.
Differentiate between business ideas with opportunity factors and those without.
Break down how demand relates to choosing a business idea.
List some of the resources you should assess before beginning a business.
Explain what proprietary advantage is and how it can benefit your business.
Summarize the benefits of creating a micro business plan before you invest money in your idea.

Skills covered

EntrepreneurshipSmall Business and EntrepreneurshipDeep Dive (X:Y)

Concepts

0. Introduction

  • 01 - Find your business idea

1. Matching the Idea to the Entrepreneur

  • 02 - Know yourself as the entrepreneur
  • 03 - Be aware of needs
  • 04 - Develop the new business idea list
  • 05 - Narrow the list to your best ideas

2. Separating Ideas from Opportunities

  • 06 - Understand the difference between idea and opportunity
  • 07 - Evaluate demand
  • 08 - Gauge your expertise
  • 09 - Assess your resources
  • 10 - Predict profit
  • 11 - Consider distribution
  • 12 - Determine proprietary advantage
  • 13 - Finalize your single best business idea

3. Creating the Micro Plan

  • 14 - Understand the business validation micro plan
  • 15 - Focus the business test

4. Executing the Micro Plan

  • 16 - Craft a few summary statements
  • 17 - Determine the best testing option
  • 18 - Test 1 - Interview or survey
  • 19 - Test 2 - Online ad
  • 20 - Test 3 - Micro pay-per-click
  • 21 - Evaluate your results

Conclusion

  • 22 - Start your new business

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