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What to Do With That Great Idea

What to Do With That Great Idea. Writing and Presenting a Business Plan Chapter One. Idea Generation. Think Big At least eight inroads to ideas for new businesses Problem –Solution model Time/Money Filters Efficiency Model Social Entrepreneurship

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What to Do With That Great Idea

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  1. What to Do With That Great Idea Writing and Presenting a Business Plan Chapter One

  2. Idea Generation • Think Big • At least eight inroads to ideas for new businesses • Problem –Solution model • Time/Money Filters • Efficiency Model • Social Entrepreneurship • Tweak existing businesses for a new perspective • Make your Hobby your Job • Sell your own skill-set • Create a new industry

  3. Define your mission • Mission statement definition: A concise paragraph that defines a company’s values, goals and objectives • Answer four questions: • Why are you in business? • How will you succeed? • What is your product/service? • Who are your customers?

  4. Blue-Sky Executive Summaries • Put your dreams on paper • 500 words or less • Assume all things are possible • Define your best scenario for success • Be positive and idealistic – reality comes later

  5. Create your Identity • Name your company • Make it memorable, easy to spell • Name your product (s)/service (s) • Conduct a trademark/logo search, then create your own • Buy a URL to hold your web presence (many of the good names are taken – so be creative) • Think visual – you will need to market this!

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