New Project Worksheet [Project Name]

povertywhyInternet και Εφαρμογές Web

18 Νοε 2013 (πριν από 3 χρόνια και 9 μήνες)

96 εμφανίσεις







New Project Worksheet

[Project Name]


































Text highlighted in Blue represent unconfident estimates/guesses
.

Text in Red represent outstanding questions
.

Text highlighted in Red represents a potential problem
.

Text highlighted in Green represents potential opportunities
.


New
Project Worksheet




11/18/2013

Shane Kercheval

2

Title


Name of the Project

Description



Brief Description of the Project. What is the purpose? How what value does it add?

Possibly list main features.

What would you want to do with the app if you were the customer
?






Initial



Feasibility

Preliminary thoughts and descriptions that will help define the details of the product.
Enables the discovery/ideation process and
helps define the characteristics of the product
before defining the 5 Minute Pitch
, but can also be done after the 5 Minute Pitch.

Strength
1

(Red
-
light, yellow
-
light, green
-
light,
substantial
-

opportunity)








4 Q’s



Do consumers recognize that they
have the problem you are trying
to solve?







If there were a solution, would they buy it?







Would they buy it from us?







Can we build a solution for that problem?





Target
Market



Who will buy the product/service? Is the product in a niche
market? (i.e.
high
-
level
demographics, psychographics, etc.)








What is the estimated size of the target market population?








What is the estimated (realistic) conversion rate of the target
market?








If this is a second business or spin off, are

the demographics the
same as the original? (e.g. are you expanding to a different
location?)








Why will they buy it? What value does it add, what problem does it
solve? How important will be it be, or how compelled will they be
to buy it? What area in

their life does this affect? Is it significant?

(e.g.
Requirement, Need, Want
? Are they aware of this need?)








Where will they buy it? How will it be distributed?








What would they be willing to pay for it?








Who
isn’t

a part of the target?








How stable is the target market in terms of their characteristics
and what they are wanting?





Competitors



What companies already produce the product?








What do they charge for their product service?








If there are no other significant competitors, what current
options/alternatives exist for consumer?








Is the product a specialized market niche, or is it competing directly
with other products?








Can Competitors Copy Our Product (easily)?





Ecosystem



Are risks upstream or downstream in the ecosystem/value
-
chain?








What dependencies do the upstream or downstream components
have?








Will these dependencies support the product?





Mission



What

is

the mission statement for the product?








1
Limitation of this is that it is subjective.
It also doesn’t give a weighting for
importance
.

New
Project Worksheet




11/18/2013

Shane Kercheval

3




What

is

the mission statement for the company?



Do they align?








What contribution(s) does the product make to the company? (e.g.
profit, brand recognition, first to market, etc.)







5 Minute
Pitch


Develop 5 minute pitch

This should be
something you can do over lunch/coffee, possibly leveraging a napkin or the modern day
equivalent, PowerPoint on a tablet.

Prototype

If it is possible to develop a prototype, given resources and time constraints, a prototype can help flush out ideas
and give customers something tangible to use in order to create feedback.


Product
Feasibility

Analysis


Ultimately, answers to this sec
tion will be organized as part of the business plan.


Technological



Is the product technologically feasible?



How will customers get/buy the product? (i.e. distribution) What are the
risks/challenges?



How will customers get updates/upgrades?



What
technology/platforms will the customer want to use it on? What will be
supported in the short
-
term/long
-
term?



What are the possible assumptions? (e.g. Does the manufacturer provide access to
device’s or platform’s features/functionality for third
-
party pro
ducts? If the product
runs on multiple devices, will all of the devices provide that access to the
functionality?)



Do consumers have secure information that will be stored?

Demand



Analyze answers from the Details
-
> Target Market section
. Are these items

reasonable?
What are any concerns?



Who is the Target Market?

o

Demographics

o

Who are the decision makers? (e.g. wife, management, committee)

Do they have
the same demographics or is there another subset?

o

Who are the customers of the target market?



What is
the price of the product
?



What is the size of the target market?



What is the growth profile of the target market? (e.g. growth rate over time)
(Peter
& Donnerlly, Jr., 2013, p. 17)



What is the expected (realistic)
conversion rate of the target market (i.e. what
percent of the market can you capture?)



What quality expectations will the customers have? The following
criteria are

from
(Peter & Donnerlly, Jr., 2013, p. 112)
.

o

Performanc
e

o

Features

o

Reliability

o

Conformance

o

Durability

o

Serviceability

o

Aesthetics



Should any market research be done (
surveys
, focus groups, etc.) to determine
potential demand based on price and features? (i.e. test the Target Market
assumptions in the Details
section. Do they hold up? What new information was
obtained
?)

o

Lack of Market Research
is

often
cited

as
greatest

reason for failure.

o

Primary Research: Questionnaires, Focus Groups, Interviews

o

Secondary Research: Reports, Studies, Statistics



http://www.quantcast.com/

New
Project Worksheet




11/18/2013

Shane Kercheval

4

Resources and
Costs



What type of corporation?

o

What is the Tax Rate?



Who are the required resources?



What are the required resources? (e.g. software, laptops, etc.) This might go into
the
Overhead charge combined with admin.



Intellectual property?



Distribution Channel Costs

Competitors



Porter’s Five Forces.



What companies already produce the product? (From Details
-
> Competitors)



What are the competitor’s products strengths? What version
of the product are they
on? How many resources do they have?



What are the competitor’s products weaknesses? What features do they lack?



Can competitors COPY what we do? How easily?



If there are no other significant competitors, what current options/alterna
tives exist
for consumer? (From Details
-
> Competitors) Is there significant value added from
the alternative?



Should the company obtain any patents, trademarks, or copyrights for the product?
Does another entity already own the rights to something that i
s a key part of this
strategy?

Market Share /
Advertisement



What market share currently exists among competitors?



What market share does this company expect gain/control?



What are the primary ways (advertising, etc.) that this product will reach its target
market?
(Target Market defined in Demand section)

o

Search Engine Optimization

o

Adwords



How will the company enable customer feedback and word of mouth promotions
among exis
ting customers?



Control. How will the company assess the effectiveness of the marketing strategy?

o

E.G.



Google Analytics

o

What are the specific measurable goals of the marketing strategy?

o

How long of a gap between the advertisement campaign and the expected

purchase? (e.g. if it is a corporate purchase, it might need to be approved.)

o

What feedback loops exist to allow the company to continually adjust?

Profits



Where will the cash flows come from? (E.g. initial purchases, advertising, etc.)



What is the
purchase strategy? (E.g. one
-
time purchase, subscription).



Can this company compete on price and be profitable?



How much will it cost to produce the product?



How many
items
need to be sold to break
-
even?



How long before the projected break
-
even point?

Regulations



What regulations would affect the product?



If the product runs on different devices, or is an add
-
in to another application, what
fees do those vendors charge to run?

Risks



What are the known risks moving forward?



How are those risks being
mitigated?



What are the implications of these risks?



Worst Case?

Misc.



Does this company have the resources needed to develop the product? If not, what
additional resources are needed? Developers, lawyers, etc.?



How long will it take to develop the produc
t?



How will the company handle customer service? (E.g. Problems with products,
refunds, etc.)



New
Project Worksheet




11/18/2013

Shane Kercheval

5

Screen
Design

Develop screen shots or simple interactive demonstration
.



New
Project Worksheet




11/18/2013

Shane Kercheval

6

Works Cited

Li, H. (September/October 2007). Surveyor of the Fittest.
Marketing Management

, pp. 39
-
44.

Peter, J. P., & Donnerlly, Jr., J. H. (2013).
A Preface to Marketing Management

(Thirteenth ed.). New York:
McGraw
-
Hill.

Pinson, L. (2008).
Anatomy of a Business Pl
an.

Out Of Your Mind . . . And Into The Mark.

The Staff of Entrepreneur Media Inc. (2012).
Start Your Own Business

(Vol. Fifth Edition). Entrepreneur Press.