Idea Template by keralaguest


									NBIC BootCampBonanza 2011:
Idea Description

Guide to Writing a Business Idea
    The business idea description should be short, sections 1-6 should not exceed 3 pages total.
    The purpose is to make sure your idea is viable before you invest a lot of effort and time in
    writing a business plan for an idea that might have no chance in the market.
    NBIC will give you feedback on your idea. A key requirement is an innovative approach, i.e.
    you need to have something new or different in your product or service idea that makes it
    more attractive to customers than what the competition has.
    Look at what is missing in the Namibian market and come up with a solution, or look for
    solutions outside of Namibia that could be adapted for the Namibian market.
    Once your idea has been approved by NBIC, you will be able to attend workshops for market
    research and business planning and obtain mentoring in writing your business plan.
    The text in RED is instructional. You should delete it before printing or sending your plan.
    Please delete this section also before submitting your document.
    Keep your sentences short and concise. Use bulleted lists to highlight key points.
    Break up your paragraphs with extra headings if necessary.

                                           Page 1 of 4
NBIC BootCampBonanza 2011:
Idea Description

                                    [Your Logo (optional)]

                                        [NAME OF IDEA]
                                                Business Idea

                                           [Name of Entrepreneur(s)]

                                                    [Postal Address]

                                                      [month / year]

                      Page 2 of 4
NBIC BootCampBonanza 2011:
Idea Description

1 The Business Idea
     What is your idea? Provide a clear description in three sentences or less.

2 Motivation
     What excites you about your idea?

3 Innovativeness
     What is new or different about your business idea?
     How does it improve an existing product or service?
     How big is the difference? – The larger the better.
     Not required: market research, detailed comparisons.

4 Usefulness
     Who are the target users / customers of your idea?
     How does it help them / why would they use it?

5 Viability
     How realistic is your idea?
     Can it be implemented with reasonable means? – Many ideas never make it because they
      make a product too expensive compared to the value they offer, or because you would
      need 20 years of research to find a solution.
     Not required: detailed plans or descriptions

6 Growth Potential & Sustainability
     How big an impact could your idea have?
     Does it help only people in a small community solve a specific problem or would it help
      people across all of Africa and/or globally?
     Would your customers buy only once or would they come back regularly? – E.g. an
      indestructible fridge would be a great idea – but each customer would buy only one in
      her/his lifetime and you probably could not build a sustainable business.
                                         Page 3 of 4
NBIC BootCampBonanza 2011:
Idea Description
     Not required: financial plan and projections

                                        Page 4 of 4

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