Self Assessment tool

Business Circularity Self-assessment

A tool to help you measure the validity of your business idea, and the level of circularity of your current business model. It is time to write down the most important information about your future circular business.

Hint

Reduce: Minimization of use of raw materials
Reuse: Maximization of reuse of products and components
Recycle: Convertion of waste materials into new materials and products
Recover: Recovery of energy or by-products from what is disposed of as waste
Regenerate: Ensuring that the waste disposed by any process serves as a resource to the natural environment

Which of the 5Rs your idea is best connected to? Select as many options as you want.

Reduce

Reuse

Recycle

Recover

Regenerate

None of them

1 out of 17

Is there a real need? Is the problem real?

Yes

2 out of 17

Are there other products/services to solve the same problem(s)?

Yes, (Please describe in comments section)

3 out of 17

Is there a gap in the market?

Yes, (Please describe in comments section)

4 out of 17

Is there a business opportunity?

Yes, (Please describe in comments section)

5 out of 17

Hint

B2B: Business-to-business (B2B) is a business model where a business sells or purchases products or services to and from another business. This type of relationship is common among manufacturers, wholesalers, distributors, and retailers that will resell the products or services
B2C: Business-to-consumer (B2C) is a business model where a company sells products and services directly between a business and consumers who are the end-users of its products or services. Most companies that sell directly to consumers can be referred to as B2C companies
C2C: Customer to customer (C2C) is a business model whereby customers can trade with each other, typically in an online environment. Two implementations of C2C markets are auctions and classified advertisements. C2C marketing has soared in popularity with the arrival of the internet and companies such as eBay, Etsy, and Craigslist
C2B: Consumer-to-business (C2B) is a business model where an end user or consumer makes a product or service that an organization uses to complete a business process or gain competitive advantage
B2G: Business to government (B2G) is the sale and marketing of goods and services to federal, state, or local agencies.

Is it a B2B, B2C , C2C, C2B or B2G idea? Select as many options as you want.

B2B

B2C

C2C

C2B

B2G

6 out of 17

Does your idea intend to solve the problem(s) locally, nationally, globally? Please check

Locally

Nationally

Globally

7 out of 17

Is your market/industry growing? What are the trends?

Yes, (Please describe the trends in comments section

8 out of 17

Hint

Innovative idea: An innovative idea in business entails the development of a product, service, business model or strategy that’s both novel and useful. Novelty and creativity are key components of innovation in business. Innovations don’t necessarily include forward-looking or groundbreaking ideas in technology or new business models. They can provide an upgrade to a company’s customer service or contribute for the improvement of a product’s features or settings.
Niche market: It is a customer segment with very specific characteristics and particular needs. Customers that fall under this category require or rather expect to have a highly tailored product that satisfies their needs and preferences. Therefore, the traits of this customer segment define the value propositions and the distribution channels of a company. An example of a niche market is sportswear companies. They design clothing and shoes for athletic or highly active people.
Disruptive solution: It is a type of innovation that refers to the efforts of a smaller company, usually with fewer resources, to expand and challenge larger and well-established companies. Small-scaled companies enter the low end of a market or create a new market segment aiming to gain a portion of the market. There are two types of disruptive solution or innovation:
· Low-end disruption: companies use a low-cost business model to enter at the bottom of an already established market and claim a small portion of it.
· New-market disruption: Companies create a new segment in an already established market with a low-cost product or service.
Solution based on real market gap: Identifying market gaps in an industry is key to achieving long-term success in any business. This can be done through market research. If you want your business to have a steady growth you need to focus on making your brand appealing to the niche market you are targeting. By satisfying your customers’ preferences and expectations and by providing them a product or service with unsurpassed quality you increase your chances of having a long-term success. If you don’t do this, you will struggle trying to survive in the competitive business world.
Scalability: It refers to the capacity of a business to grow in order to meet increased demands. It allows a business to generate revenue without being concerned about its lack of resources or small size. While the volume of sales increases, so does the growth potential and efficiency of a company.

Can you define your idea’s major strengths? Select as many options as you want.

Innovative idea

Niche market

Disruptive solution

Solution based on real market gap

Scalability

Other (please mention in comments section)

9 out of 17

Can you define your idea’s limitations and weaknesses? Select as many options as you want.

Lacking important team expertise

Intense competition

Market/industry inexperience despite an innovative idea

Funding deficiencies

Complex solution

Other (please mention in comments section)

10 out of 17

Are there potential risks? Select as many options as you want.

Economic

Financial

Compliance

Security and Fraud

Other (Please describe in comments section)

11 out of 17

Are the risks rewardable?

Yes

12 out of 17

Is your idea unique/innovative?

Yes (Please describe in comments section)

13 out of 17

Is your idea simple or complex to develop in terms of technology? Please describe in comments section.

Simple

Complex

14 out of 17

How long will it take to get the business idea to market?

Up to 6 months

6 months to 1 year

1 to 3 years

More than 3 years

15 out of 17

What team is needed? Skills? Select as many options as you want.

Technical Skills

Managerial Skills

Customer Service Skills

Leadership Skills

Other (Please define in comments section)

16 out of 17

How is it going to be funded? Select as many options as you want.

Own money/family

Investors

Loans

Subsidies

Other (Please define in comments section)

17 out of 17

Time is Up!

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Business Circularity Self-assessment

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