Calculator
BRL
BRL 1: Hypothesizing on a possible business concept.
1. Identify the Business problem:
Identify the business problem or need in the market that you believe you can solve or fulfil with a new business concept added by technology. This could be based on personal experience, literature review, and industry knowledge.
2. Brainstorm potential solutions:
Brainstorm potential solutions to the problem or need you have identified. Consider different business models, products, services, and delivery methods with the aid of a technology partner or Technology Innovation Hub (TIH)
3. Evaluate market potential:
Evaluate the market potential for your business concept by analyzing the size of the market, competition, and customer demand. Use market research and data to inform your evaluation. Here TIH can help.
4. Refine your concept:
Refine your business concept based on market research, feedback from potential customers, and other relevant data. Focus on developing a clear value proposition that differentiates your concept from competitors in the industry. Seek TIH help if needed.
5. Create a concept summary:
It may be good to create a summary of your business concept that outlines the problem it solves, the target market, the value proposition, and the potential revenue streams. Use this summary to communicate your concept to potential investors or partners. This may not be mandatory.
BRL 2: Here the business concept is described. Identified the overall market & a few competitors.
1. Define your business concept:
Clearly define your business concept by identifying the problem you are solving, the product or service you are offering, and the target market you are serving. Develop a unique value proposition that differentiates your business from competitors.
2. Conduct market research:
Conduct market research to identify the overall market size, growth potential, and customer segments. Look at demographic, economic, and social trends to understand your target market and their needs.
3. Identify your competitors:
Identify your competitors in the market and analyze their strengths and weaknesses. Look at factors such as their pricing strategies, marketing tactics, and product or service offerings to identify areas where you can differentiate your business.
4. Analyze the competitive landscape:
Analyze the competitive landscape to understand the overall market and how your business concept fits within it. Look at factors such as market share, industry trends, and barriers to entry to determine the feasibility of your business concept.
5. Develop a business plan:
Develop a comprehensive business plan that outlines your business concept, market analysis, competitive analysis, marketing strategy, and financial projections. Use this plan as a roadmap for launching and growing your business, and be prepared to adjust your strategy as needed based on market feedback and changing business conditions. Here TIH can help.
BRL 3: Draft of the business model to be with describing market potential & competitive overview.
1. Define the business model:
Clearly define the business model by outlining the key components such as revenue streams, cost structure, customer segments, and value proposition. Develop a detailed plan for how your business will operate and generate revenue.
2. Conduct market research:
Conduct market research to identify the overall market size, growth potential, and customer segments. Look at demographic, economic, and social trends to understand your target market and their needs.
3. Analyze the competition:
Conduct a competitive analysis to identify competitors in the market and their strengths and weaknesses. Look at factors such as their pricing strategies, marketing tactics, and product or service offerings to identify areas where you can differentiate your business.
4. Evaluate market potential:
Evaluate the market potential by assessing factors such as customer demand, industry trends, and regulatory environment. Identify opportunities for growth and areas where you can expand your business.
5. Develop a comprehensive plan:
Develop a comprehensive plan that outlines the business model, market potential, competitive overview, and financial projections. Use this plan as a roadmap for launching and growing your business, and be prepared to adjust your strategy as needed based on market feedback and changing business conditions. Here TIH can help.
BRL 4: First version of business model, first projections of economic viability & market potential.
1. Define the business model:
Define the key components of your business model, such as the value proposition, customer segments, revenue streams, cost structure, and key partners. Consider how these components interact and how your business will generate revenue.
2. Conduct market research:
Conduct market research to identify the overall market size, growth potential, and customer segments. Look at demographic, economic, and social trends to understand your target market and their needs. Analyze competitors to understand their strengths and weaknesses and identify areas where you can differentiate your business
3. Create financial projections:
Create financial projections based on your business model and market research. Estimate revenue, costs, and profits based on realistic assumptions. Consider factors such as pricing, marketing spending, and operational expenses.
4. Evaluate economic viability:
Evaluate the economic viability of your business model by comparing your financial projections to industry benchmarks and analyzing the feasibility of your revenue streams and cost structure. Identify risks and challenges and develop strategies to mitigate them.
5. Develop a comprehensive plan:
Develop a comprehensive plan that outlines the first version of your business model, financial projections, market potential, and competitive overview. Use this plan as a roadmap for launching and growing your business, and be prepared to adjust your strategy as needed based on market feedback and changing business conditions. Here TIH can help./label>
BRL 5: Business model testing, first revenue model launched, competitive position verified in the market.
1. Develop a Minimum Viable Product (MVP):
Develop a basic version of your product or service that can be tested in the market. The MVP should be designed to test key assumptions about your business model and gather feedback from potential customers.
2. Conduct customer testing:
Conduct customer testing to get feedback on your MVP and identify areas for improvement. Use this feedback to refine your product or service and adjust your business model.
3. Create a revenue model:
Create a revenue model based on your product or service offering and customer feedback. Consider pricing strategies, such as subscription-based or pay-per-use models, and how they impact revenue and profitability.
4. Analyze the competition:
Analyze the competition to verify your competitive position in the market. Look at factors such as market share, pricing, marketing strategies, and customer feedback to identify opportunities to differentiate your business and improve your competitive position.
5. Refine your business model:
Refine your business model based on customer feedback, revenue model testing, and competitive analysis. Use this information to develop a comprehensive plan for launching and growing your business, and be prepared to adjust your strategy as needed based on market feedback and changing business conditions. Here TIH can help.
BRL 6: Full business model including pricing to be verified on potential customers.
1. Develop a comprehensive business model:
Develop a comprehensive business model that includes key components such as the value proposition, customer segments, revenue streams, cost structure, and key partners. Use customer feedback, market research, and competitive analysis to inform your model.
2. Define pricing strategies:
Define pricing strategies based on your business model and market research. Consider factors such as customer demand, competition, and industry benchmarks when setting prices.
3. Conduct customer testing:
Conduct customer testing to verify pricing and gather feedback on your business model. Use this feedback to refine your pricing strategies and business model.
4. Analyze pricing effectiveness:
Analyze pricing effectiveness by measuring customer response to different pricing strategies. Look at factors such as sales volume, customer retention, and profitability to assess the impact of pricing on your business.
5. Refine your business model:
Refine your business model based on customer feedback, pricing effectiveness, and competitive analysis. Use this information to develop a comprehensive plan for launching and growing your business, and be prepared to adjust your strategy as needed based on market feedback and changing business conditions. Here TIH can help.
BRL 7: Product/market fit is demonstrated in revenue/ cost projections
1. Identify the target market:
Identify your target market by segmenting potential customers based on their needs, demographics, and behavior. Conduct market research to gain insights into the market size, trends, and competitors.
2. Develop a compelling value proposition:
Develop a compelling value proposition that addresses the needs of your target market and differentiates your product or service from competitors. Use customer feedback and market research to refine your value proposition.
3. Test product/market fit:
Test product/market fit by launching a minimum viable product (MVP) in the market and gathering feedback from customers. Use this feedback to refine your product or service and adjust your business model.
4. Create revenue and cost projections:
Create revenue and cost projections based on your business model and market research. Estimate revenue, costs, and profits based on realistic assumptions. Consider factors such as pricing, marketing spending, and operational expenses.
5. Evaluate financial viability:
Evaluate the financial viability of your business model by comparing your revenue and cost projections to industry benchmarks and analyzing the feasibility of your revenue streams and cost structure. Identify risks and challenges and develop strategies to mitigate them. Here TIH can help.
SBRL 8: The business model is fine-tuned. Sales & metrics to show business model can hold and can scale.
1. Analyze sales data:
Analyze your sales data to gain insights into customer behavior and identify trends. Use this information to refine your sales strategy and make data-driven decisions.
2. Review and adjust your business model:
Review and adjust your business model based on sales data, customer feedback, and market trends. Fine-tune your value proposition, revenue streams, and cost structure to maximize profitability and scalability.
3. Evaluate scalability:
Evaluate scalability by analyzing your operational processes, supply chain, and infrastructure. Identify potential bottlenecks and constraints and develop strategies to mitigate them.
4. Set metrics:
Set metrics to track the performance of your business model and measure its scalability. Consider metrics such as customer acquisition cost, customer lifetime value, and return on investment.
5. Test scalability:
Test scalability by gradually increasing your sales volume and evaluating the impact on your operations, customer experience, and financial performance. Use this information to refine your business model and make adjustments as needed. Here TIH can help.
BRL 9: The business model is finalized. Business scaling with recurring revenues works out.
1. Refine your value proposition:
Refine your value proposition to ensure that it meets the needs of your target market and differentiates your product or service from competitors. Use customer feedback and market research to refine your value proposition.
2. Finalize your business model:
Finalize your business model by developing a comprehensive plan for scaling your operations, generating recurring revenue streams, and maximizing profitability. Consider factors such as pricing, marketing, operations, and customer service.
3. Develop a sales and marketing strategy:
Develop a sales and marketing strategy that targets your ideal customer and leverages your unique value proposition. Use data and analytics to optimize your strategy and maximize your ROI.
4. Build recurring revenue streams:
Build recurring revenue streams by offering subscription-based products or services, providing ongoing maintenance and support, or developing a loyal customer base. Focus on providing value and building trust with your customers.
5. Scale your operations:
Scale your operations by hiring and training new employees, optimizing your supply chain and logistics, and expanding your customer base. Use technology and automation to streamline your operations and reduce costs. Here TIH can help.