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Business Idea Prompt
Business_Idea = “Write your Business Idea here”
Industry = “Write the Industry Here”
You are tasked with analyzing a business idea in a specific industry and developing a comprehensive business model and pitch. Follow these instructions carefully to complete the task:
First, you will be provided with a business idea and its corresponding industry:
<business_idea>
`{{BUSINESS_IDEA}}`
</business_idea>
<industry>
`{{INDUSTRY}}`
</industry>
Now, follow these steps to analyze and develop the business idea:
1. Identify Pain Points:
List the stakeholders in the `{{INDUSTRY}}` industry and identify their respective pain points. Present this information in a table format.
2. Determine Potential Business Models:
Based on the pain points identified, propose 10 to 15 potential business models that address these issues for all stakeholders. Briefly describe each model.
3. Rank Business Models:
Evaluate the scalability of each proposed business model and rank them from most scalable to least scalable. Provide a brief explanation for each ranking.
4. Develop a Lean Canvas:
Create a Lean Canvas using a hybrid approach of the top 3 business models. Present this in a structured format, addressing each component of the Lean Canvas including:
- Existing Alternatives: List currently available products or services on the market that are solving these problems.
- Early Adopters: Provide a detailed list of early adopters, along with criteria for choosing them (e.g., demographics, psychographics, specific behaviors, or challenges they face).
- Create a High-Level Concept: Describe the core value proposition that distinguishes your solution.
5. Create Variations:
Develop at least three variations of the Lean Canvas based on different customer segments. Present each variation in a structured format.
6. Craft "Why Now" Elevator Pitches:
For each Lean Canvas variation, create a "Why Now" elevator pitch using the following template:
<Why Now elevator pitch>
When `[customers]` encounter a `[triggering event]`,
they need to do `[job-to-be-done]` in order to achieve `[desired outcome]`.
They would normally use `[existing alternatives]`, but because of `[switching trigger]` these `[existing alternatives]` no longer work due to `[these problems]`.
If these problems are left unaddressed, then `[what's at stake]`.
So we built a solution that helps `[customers]` achieve `[desired outcome]` by helping them `[unique value proposition]`.
</Why Now elevator pitch>
7. Rank Variants Based on Desirability:
Evaluate and rank the variants based on desirability. Provide a brief explanation for each ranking.
8. Stress Test for Viability:
Stress test the top 3 variants for viability. Describe the stress testing process and results for each variant.
9. Rank Variants Based on Viability:
Evaluate and rank the variants based on viability. Provide a brief explanation for each ranking.
10. Stress Test for Feasibility:
Stress test each variant for feasibility. Describe the stress testing process and results for each variant.
11. Rank Variants Based on Feasibility:
Evaluate and rank the variants based on feasibility. Provide a brief explanation for each ranking.
12. Create Rollout Plans:
Develop a high-level rollout plan for each of the top 3 feasible variants. Present each plan in a structured format.
13. Develop a 3-Minute "Business Model Story Pitch":
For the most feasible variant, create a written 3-minute "business model story pitch" based on the following template. Each slide should be clearly labeled and include specific content:
<business model story pitch>
- Slide 1: Why Now - SWITCHING TRIGGER
Explain the switching trigger and the motivation for change.
- Slide 2: What's at Stake - THE MARKET OPPORTUNITY
Describe the market size, growth potential, and what is at stake if the opportunity is not seized.
- Slide 3: What's Broken - THE PROBLEM
Outline the problem in detail, discuss existing alternatives, and explain why they are inadequate.
- Slide 4: What's Your Fix - YOUR SOLUTION
Present your solution, emphasizing how it uniquely addresses the problem and adds value.
- Slide 5: What's Your Moat - UNFAIR ADVANTAGE
Highlight any competitive advantage you have or are building that others cannot easily replicate.
- Slide 6: How Do You Make Money - REVENUE STREAM
Clearly explain your business model and how you generate revenue.
- Slide 7: What Are Your Key Milestones - KEY METRICS
Showcase important milestones, traction achieved, and key metrics that signal growth.
- Slide 8: What's Your Current Progress - ROLLOUT PLAN
Provide details about your rollout plan, including timelines and go-to-market strategy.
- Slide 9: Can You Pull This Off - THE TEAM
Introduce the team and demonstrate why they are uniquely qualified to execute the plan.
- Slide 10: Call-to-Action - THE ASK
Clearly state your call-to-action, whether it is funding, partnerships, or other resources needed.
</business model story pitch>
14. Write a Verbal 3-Minute "Written Business Model Story Pitch":
Write a 3-minute verbal pitch that corresponds to the 10-slide presentation above. Ensure that the pitch is concise, engaging, and covers all key aspects of the business.
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Present your analysis and outputs in a clear, structured format. Use appropriate headings, subheadings, and formatting to enhance readability. Ensure that each step is clearly labeled and that all required information is provided.
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