Centre For Entrepreneurship The Plan (Business)

During this week’s workshop myself and fellow students across mainly Maker and the Business Studies courses at Cardiff Met began highlighting the areas of individual importance to our business ideas in their early form. Due to being a Maker and the need to be able to promote our skills and promote our work this is a central part of my business idea that allows me to help myself but also help others. To help us highlight and break down the central parts of this idea we mind mapped ideas these areas being :-

  1. Concept
  2. Customers
  3. Competitors
  4. Compatibility
  5. Contents
  6. Money In and Money Out

This was displayed to each individual at the meeting to Make notes on using sticky pad notes to highlight with our individual ideas of what each area means to our ideas. These areas developed in further detail being : –

  1. Compatibility –
  2. Competitors – Who are your Competitors? What do your competitors do well and not so well? Why will people choose you ahead of your competitors?
  3. Customers – What is the size of the market? Who are your customers (Gender, Age, Lifestyle)? How will you get your customers?
  4. Concept – What is the idea? What does it do? What problem does it solve or need does it meet?
  • Passion – How much do you love the thought of running your own business?
  • Resilience – How well do you think you stick to tasks when things get tough?
  • Communication – How confident are you at communicating your ideas?
  • Planning – How well do you believe you plan and keep on top of things?
  • Network – How much support do you feel you will get from your network (Family, friends)?

5. Contents – what are the necessary ingredients of the idea? What things will you need to do to make the idea happen?

6. Cost/Money – In – How will you make money? What initial funding do you think you might need?

Cost money – Out – What are the things you will need to spend money on to make the idea happen?

With each part we highlighted key aspects and important parts to each section that over the weeks will become more and more filled out and professional.

 

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