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  1. £20off Business Plan Pro Avail of your discount at www.businessplanuk.co.uk/startup/ • 500+ sample business plans • Step-by-step guidance • Complete forecasts and financials • Instant download available

  2. Assessing your Market Alan Gleeson Managing Director Palo Alto Software Ltd

  3. Who am I?

  4. What you will learn today How to generate an Idea How to understand your Market How to estimate the size of your Market The numbers that are Important Some Key Tips for a winning Business Plan

  5. Coming up with ideas

  6. eBay Pulse

  7. Surprise Winners

  8. Trend Watching

  9. Key Word Assistant

  10. Are all the good ideas gone?

  11. Specsavers

  12. Glasses Direct

  13. Mixt Greens

  14. Your idea

  15. Product or Service Key Features Key Benefits Evidence of demand Knowledge re Substitutes and Competition Commercially Viable Segments Access to the market and access to the segments

  16. Business Plan Pro • 500+ sample business plans • Step-by-step guidance • Complete forecasts and financials • Instant download available…. • Saves Lots of Time • Help at every step • Takes the pain of writing a business plan away • Easy to use • Saves Money

  17. Writing a business plan

  18. The IPod • Capacity: 20GB • Battery Life: Up to 15 hours • Display: 2-inch (diagonal) 65,536-colour LCD with LED backlight • iPod Ports: Dock connector, remote connector, stereo headphone jack, composite video and audio through headphone jack • Connectivity: USB 2.0 and FireWire 400 • Charge Time: About 5 hours • Audio Support: AAC (16 to 320 Kbps), Protected AAC (from iTunes Music Store), MP3 (16 to 320 Kbps), MP3 VBR, Audible (formats 2, 3, and 4), Apple Lossless, WAV, AIFF • Photo Support: Syncs iPod -viewable photos in JPEG, BMP, GIF, TIFF, PSD (Mac only) and PNG formats • Size (in inches): 4.1 x 2.4 x 0.63 • Weight: 5.9 ounces

  19. The IPod

  20. Understanding your Market

  21. Understanding your environment

  22. Considering London

  23. A Solution

  24. The Microchip

  25. Estimating the size and value of your Market

  26. Why it is important?

  27. Why it is important?

  28. Estimating the Size of your Market Top Down Approach UK Population 60,776,238 (July 2007 est.) Age structure: 0-14 years: 17.7% (male 5,490,592/female 5,229,691) 15-64 years: 66.5% (male 20,329,272/female 19,855,862) 65 years and over: 15.8% (male 4,063,357/female 5,472,683) (2005 est.) What is the target demographic profile for my good / service? Location/Age/Sex/ Income Level/Nationality etc

  29. Estimating the Size of your Market 1% of Market

  30. Estimating the Size of your Market Bottom up Approach Current sales level estimates Sales levels of competitors/ substitutes etc Extrapolate from a sample Is the market growing or shrinking?

  31. Want to open a coffee shopon the Hammersmith Road?

  32. Step 1: Acorn 2 Urban Prosperity E Educated Urbanites 18 Multi-ethnic young, converted flats

  33. Step 2: How is the market served already?

  34. Step 3: Footfall

  35. Step 4: The Numbers

  36. Step 5: Do the Maths

  37. But how do I forecast when something is completely new?

  38. Millennium Dome Year 1 Estimate Visitor Numbers ??m

  39. How would you calculate it?

  40. Top 10 attractions in the UK in 1999 1. Alton Towers 2.65m 2. Madame Tussaud's 2.64m 3. Tower of London 2.42m 4. Natural History Museum 5. Legoland 1.62m 6. Chessington World of Adventures 7. Science Museum 8. Royal Academy 1.39m 9. Canterbury Cathedral 10. Windsor Castle

  41. What is your estimate now?

  42. Millennium Dome 31 December 2000 : Dome closed to the public, having attracted just over six million visitors. The initial projected figure was twelve million.

  43. Business Plan:The Numbers

  44. The Key Numbers to focus on 1. Monthly Revenue Predictions: Numbers * Amount. 2. Monthly costs Fixed and Variable 3. Break Even Point: Fixed Costs ÷ Contribution Where the contribution represents the selling price - variable costs. 4. Free Cash Flows:Cash not required for operations or for reinvestment. 5. Growth Levels: Is the market growing or declining? This one is key for banks

  45. A Winning Business Plan

  46. A Winning Business Plan • Evidence that a market exists (there is a need/ problem) • Evidence that you can meet the needs of the market (a solution) • Evidence that you can do so profitably • Evidence that you can access the market • Evidence that you have the skills to manage the business • Evidence that the company can generate strong free cash flows

  47. Assessing your Market Alan Gleeson www.bplans.co.uk www.paloalto.co.uk