Prepare a one-page Power Point slide of your idea that could be the basis of a business plan. Use bullet points to address each of the key areas. Use the PPT template provided to create your business concept summary. I have provided a sample for you to follow using the Eye Talk project
Concept Description
What is the essence of the business? (Eg: This is a business that buys and sells used video games).
Opportunity/Need What is the problem and how does your product solve it? How big is the problem?
Product or Service
Describe the product/service. What is unique about your product or service?
Target market
If it is a consumer product, describe the demographics and psychographic. Describe how many people have this problem and the SIZE of the potential market. If it is a business product, describe the industry and type of company or organization that you would sell to and how many such companies exist
Benefits
What are the benefits to the target market? Why should they care?
Competitive Advantage
Who is the competition? What is your advantage over the competition? Is your advantage sustainable?
Profitability
What is the revenue model? What is the gross margin (difference between average cost and average selling price).