This is the fifth of seven online seminars by which we put your business idea to the acid test. The result is a business idea that is directly implementable, economically viable and sustainable. Or not. In this case you will have to modify your business idea, maybe even radically by 180°. This is called a pivot. You can also learn how to do this in our online seminar series.
This fifth online seminar will deal with the key question "What is your market potential?".
The learning objectives that you will achieve are the following:
Being able to define geographic markets.
|Being able to estimate the market capacity.|
|Knowing purchase power on B2C markets.|
|Defining market potential.|
|Knowing the importance of unexploited market potential.|
|Being able to calculate the market volume.|
|Being able to calculate the level of market saturation.|
|Knowing the difference between growing and shrinking markets.|
|Being able to define sales volumes.|
|Being able to calculate market shares.|
Please perform the single steps in the following order:
|Before you start, we would like to ask you one or several introductory questions which you may have thought about earlier. You can save your answers, edit them at a later time, or share them with other participants.|
|Now work through the textbook. You can do this online or mobile, or you can download a PDF file and read it on your tablet or smartphone. Whatever you want! In any case, each seminar is designed to take an average of 45 to 60 minutes to complete.|
|For a more detailed explanation, you will find some Business Examples from best entrepreneurial practice. They also let you gain a better understanding for the everyday life of other entrepreneurs and will help you to complete the following tasks and processing steps.|
|After completing the seminar module, we would like to ask you to answer some Comprehension Questions. The business examples mentioned abouve can serve as a guide. You can save your answers, edit them at a later time or share information with other participants.|
Lessons Learned: Here you will find a summary of what you have already learned. Compare this to the learning objectives mentioned above. No more questions may have remained open! And if so, just repeat the part you are still unsure about, or get in touch with the other participants - or with us!
|And now it´s your turn: Edit Your Business Idea in the given order. It´s pretty simple. You just need to go step by step and, at the same time, document your personal progress in establishing your company.|
|In order to make your tasks easier we have developed a series of worksheets for you to work on your business idea. Simply print out the Worksheets or edit them on the screen. It´s your choice!|
|Another result that you hold in your hands after developing your business idea is the so-called Position Statement. This is to explain your business idea within 30 seconds to a possible customer, potential investor, partner, spouse or a member of your family, the circle of acquaintances, or friends.|
To ensure that you do not forget one of the steps, you should use the available Checklist. Only when all points are "checked off", you can proceed to the next seminar. With an entirely completed checklist you will document the successful completion of this online seminar.
|One thing would be there: the Entrepreneur Test. Of course, it´s voluntary - but its results are counted in your so-called Personal Entrepreneurship Points (PEP) - and give you, as well as others, the information about your personal development as an entrepreneur.|