Reduce: Minimization of use of raw materialsReuse: Maximization of reuse of products and componentsRecycle: Convertion of waste materials into new materials and productsRecover: Recovery of energy or by-products from what is disposed of as wasteRegenerate: 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.
1 out of 17
Is there a real need? Is the problem real?
2 out of 17
Are there other products/services to solve the same problem(s)?
3 out of 17
Is there a gap in the market?
4 out of 17
Is there a business opportunity?
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 servicesB2C: 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 companiesC2C: 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 CraigslistC2B: 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 advantageB2G: 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.
6 out of 17
Does your idea intend to solve the problem(s) locally, nationally, globally? Please check
7 out of 17
Is your market/industry growing? What are the trends?
8 out of 17
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: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.
9 out of 17
Can you define your idea’s limitations and weaknesses? Select as many options as you want.
10 out of 17
Are there potential risks? Select as many options as you want.
11 out of 17
Are the risks rewardable?
12 out of 17
Is your idea unique/innovative?
13 out of 17
Is your idea simple or complex to develop in terms of technology? Please describe in comments section.
14 out of 17
How long will it take to get the business idea to market?
15 out of 17
What team is needed? Skills? Select as many options as you want.
16 out of 17
How is it going to be funded? Select as many options as you want.
17 out of 17
