1 / 19

What makes a good business idea? | Brandon Gaynor of Rancho Cucamonga

Brandon Gaynor is having experience been working as a Senior Branch Manager for a Mortgage company in Rancho Cucamonga since 2017. Brandon Gaynor is also a social Worker he always wants to help needy people that need any kind of help.<br>

9138
Download Presentation

What makes a good business idea? | Brandon Gaynor of Rancho Cucamonga

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What makes a good business idea? Brandon Gaynor of Rancho Cucamonga

  2. What makes a good business idea? • It starts with a good idea. • Good ideas fill a void or solve a problem:

  3. How? • It makes somebody... • Happier • Healthier • Richer • More attractive ...at a price they are willing to pay

  4. But... • Great ideas alone don’t make great businesses!

  5. How is a great business idea different? • You have to consider more than just the idea ●Micro level market attractiveness ●Macro level market attractiveness ●Macro level industry attractiveness ●Sustainable advantage ●Team

  6. Micro level market attractiveness Vs.

  7. Macro level market attractiveness • Market size • Short term market growth • Long term market growth

  8. Macro level industry attractiveness Porter’s five forces: 1. Threat of entry 2. Supplier power 3. Buyer power 4. Threat of substitutes 5. Competitive rivalry

  9. Macro level industry attractiveness ● Is it easy or difficult for companies to enter this industry? 1. Threat of entry Cost ○ Specialist knowledge Route to market ○ ○

  10. Macro level industry attractiveness 2. Supplier power Do suppliers to this industry have the power to set the terms and conditions? ● How many suppliers are there? How transparent are they? ○ ○

  11. Macro level industry attractiveness 3. Buyer power Do Buyers have the power to set terms and conditions? ● What are their alternatives? How easy is it to find them? ○ ○

  12. Macro level industry attractiveness 4. Threat of substitutes ● Is it easy or difficult for substitute products to steal my market? ○ Think about the customer need

  13. Macro level industry attractiveness Is the competitive rivalry intense? ● ○ Assess your competitors fairly. If you know about them, they may well be smarter and better funded than you. 5. Competitive rivalry ○

  14. Sustainable comparative advantage • Firstly, there must be an advantage (for your customers) • Better • Faster • Cheaper • Then, you have to sustain it.

  15. Sustainable comparative advantage ● Superior organisational processes (Vs. ) • Proprietary elements • Patents • Trademarks • Trade Secrets Business model is economically viable ● Commitment to innovation ●

  16. Team • Ability • Team as a whole • Find the gaps and fill them • Experience counts • Alignment • Commitment to the same goals • Passion • It will be hard

  17. Team • Network • How connected are you? • Suppliers to your business (and your competitors) • Distributors and customers (today and in the future) • Competitors and substitutes Names, titles, & contact information please. It’s not what you know, it’s who you know, so get networking!

  18. What makes a great business idea? • A good idea – Somebody needs/wants it • A good market – Large and growing • A good industry – You can enter (with an advantage) •A great team – Find the right people (they might not be your friends)

  19. Thank You

More Related