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Who are your competitors? Please list three of them and include website addresses if you available.
It’s ok if you can’t answer to all the questions, just complete the ones you can.
Business Navigator Questionnaire
What are you passionate about and why?
2. If you start a business/social enterprise/Community group what will be your business’ main aims and objectives?E.g. provide easy buying options/online for women who can’t find their shoe size in the mainstream shops or provide a solution for home workers IT problems. Try and think of at least three aims for your business.
3. How much research have you done on your idea? Is your industry increasing or decreasing in size? What external threats can affect your launch, e.g. new technology, home products etc?
What will be your main products or services?
5. Is there a gap in the market for the service/product you want to provide/sell?Please explain.
6. Please write a short summary of your business model – elevator pitch. Please include as much information as you can. Include details of your products, services, history, reasons for business start up and any additional information you can think of.You should include how you want to operate your business, how long you have been doing this at home, part time etc, why you want to start your business etc.
7. What will be your business’ Unique Selling Point? E.g. my business provides hard to find size 10 and above party shoes for women online. USP = size 10 and above party shoes for women.
What business ideas have you explored in the past? What related jobs/businesses have you done in the past - what business/job led to this idea?
What are yourr past/current skills, knowledge, jobs, experience, qualifications and how do they relate to your idea?
Who are your target market and why? Who do you want to reach e.g. women, men, mothers, girls, youth, working class, professionals, affluent clients, religious groups, inner London folks, ethnic groups etc? You can choose any criteria to determine your market segment. Give examples.
11. How much free time do you have/want to commit to this business idea?Do you want to operate your business full time, part-time or moonlighting i.e. in addition to your current job/business?
12. What is your budget for this business idea?This should be how much funds you have and need for this business? You can do a simple cost analysis based on the information you already have to hand or based on research.
Are you looking for funds or using your savings to start your business? Also include how much funds you have to hand and how much you will need. Have you approached a bank, investors, grant providers etc?
What is your timescale for your business launch? Write here how long you think it will take you to set-up this business and when you think you will like to launch it.
What will motivate you to keep running this venture if the going gets tough?
What will be your business name and have you thought of a domain name or location etc? Include the prospective areas etc.
Who are your competitors? Please list three of them and include website addresses if you available.