The Micro Business Growth Club BIG IDEA Starts 18/04/2023
WHAT’S YOUR BIG IDEA?
1: The BIG IDEA is a development Programme
There is no shortage of new ideas in business, but often what's missing is the know-how of executing them profitably. A new programme for April 2023 is being launched that will show business owners how to test new ideas to ensure that an idea is viable before it's launched. It will take the guess work out of product and service development and give business owners tangible market research to base a product launch on.
During the sessions you will explore every aspect of your idea and test it using industry tools and analysis methods, that will give you the confidence to know that your product is viable and potentially profitable.
2: Programme Content
The programme will pose 5 critical questions for any new business idea
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How do I know it's a good idea?
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Is there an identified demand for it?
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How can I be sure it will be profitable?
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Who are the big hitters I will be competing with?
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What is the best marketing strategy?
The programme comprises 4 × 2-hour sessions over four consecutive weeks.
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The Idea; Using the Idea Concept Map participants will analyse every aspect of their idea, the market it will sit in and how best to target it through a product launch campaign. They will answer the following questions about their new idea; What it is, what does it do, what problem does it solve for your customers, what are its features and benefits, how does it win over similar products, what are its physical attributes and packaging requirements, what is the pricing strategy and profit margin.
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The Market; Using the market analysis tools participants will identify the size and value of the ideas’ market, conduct a product SWOT analysis, conduct a Competitor analysis for similar products.
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Feasibility testing; Using a basic set of costing tools the unit price, profit margin and retail price of the idea will be established and market comparisons made. Participants will also create an Ideal Client avatar for targeted sales and marketing campaigns.
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Branding and Launch; Having established the viability of the product, participants will consider the branding of the product paying careful attention to image, logo, product packaging, bringing the product to market. A draft marketing strategy will be created identifying the best communication channels, positioning, timing, creating desire, campaign costs.
3: Programme Delivery
There are just 20 places available for business owners with new ideas to participate in the programme. The limited place numbers ensure all participants receive individual support throughout the programme, and allow them to contribute equally during the sessions. A short interview will take place with each participant before the programme commences, to identify exactly what outcomes you want from the sessions.
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Each session will be delivered live, online via Zoom Videoconferencing, and will also be available as a downloadable presentation for participants to review at their leisure.
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At the conclusion of the programme, a 45-minute 1-2-1 coaching call will review progress and determine how you will proceed with your idea.
4: Onboarding Process
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To attend the online Zoom sessions on 18th, 25th April and 2nd and 9th May 2023
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To complete the mid-session activities fully and to the best of their ability
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To abide by, and maintain the Commercial in Confidence Agreement of the group and the programme, through non-disclosure.
In order to join the programme business owners need to be able to commit to the following
** This is critical due to the innovation and commercial value of each individual's BIG IDEA project **
