Submit a minimum of 100-word answer for each of the following questions.
Which areas of the First Screen were the easiest to complete and which areas were the most difficult?
Was the result of the exercise what you expected?
Please use the template attached (Excel) to complete your work: First Sreen.
3 4 5 1 First Screen Template 2 Idea or Product Name/Description: Web App to identify dish recipes based on the ingredients from the fridge 3 4 Low Medium High Part 1: Strength of the Business Idea (-1) (0) (+1) 6 Idea Takes Advantage of Trend, Solves a Problem, or Addresses Gap 7 Timeliness of Entry to Market 8 Adds Value for Buyer 9 Customer is Satisfied by Current Products 10 Product Requires Consumers to Change Behavior 11 Overall 0 12 13 Low (-1) Medium (0) High (+1) Part 2: Industry-Related Issues 14 15 Industry Issues Account for 8 to 30% of Variation in Firm Profitability 16 Number of Competitors 17 Stage of Industry Life Cycle 18 Growth Rate of Industry 19 Importance of Products 20 Industry Operating Margins 21 Overall 0 22 23 Low (-1) Medium (0) High (+1) Part 3: Market- and Customer Related Issues 24 25 Identification of Target Market 26 Ability to Create Barriers to Entry 27 Purchasing Power of Customers 28 Ease of Promoting New Product 29 Growth Potential of Target Market 30 Overall Low (-1) Medium (0) High (+1) Overall 0 31 32 Part 4: Founder-Related Issues 33 34 Experience in the Industry 35 Skills Related to New Product 36 Social & Professional Networks 37 Personal Goals and Aspirations 38 Likelihood Team Can Grow and Launch New Venture 39 40 41 Part 5: Financial Issues 42 43 Initial Capital Investment: 44 Number of Revenue Drivers 45 Time Needed to Break Even 46 Financial Performance of Similar Firms 47 Funding of Initial Product Development and/or Start-up Expenses 48 49 50 51 52 Overall Potential Low (-1) Medium (0) High (+1) Overall Low (-1) Medium (0) 0 High (+1) 3 4 5 1 First Screen Template 2 Idea or Product Name/Description: Web App to identify dish recipes based on the ingredients from the fridge 3 4 Low Medium High Part 1: Strength of the Business Idea (-1) (0) (+1) 6 Idea Takes Advantage of Trend, Solves a Problem, or Addresses Gap 7 Timeliness of Entry to Market 8 Adds Value for Buyer 9 Customer is Satisfied by Current Products 10 Product Requires Consumers to Change Behavior 11 Overall 0 12 13 Low (-1) Medium (0) High (+1) Part 2: Industry-Related Issues 14 15 Industry Issues Account for 8 to 30% of Variation in Firm Profitability 16 Number of Competitors 17 Stage of Industry Life Cycle 18 Growth Rate of Industry 19 Importance of Products 20 Industry Operating Margins 21 Overall 0 22 23 Low (-1) Medium (0) High (+1) Part 3: Market- and Customer Related Issues 24 25 Identification of Target Market 26 Ability to Create Barriers to Entry 27 Purchasing Power of Customers 28 Ease of Promoting New Product 29 Growth Potential of Target Market 30 Overall Low (-1) Medium (0) High (+1) Overall 0 31 32 Part 4: Founder-Related Issues 33 34 Experience in the Industry 35 Skills Related to New Product 36 Social & Professional Networks 37 Personal Goals and Aspirations 38 Likelihood Team Can Grow and Launch New Venture 39 40 41 Part 5: Financial Issues 42 43 Initial Capital Investment: 44 Number of Revenue Drivers 45 Time Needed to Break Even 46 Financial Performance of Similar Firms 47 Funding of Initial Product Development and/or Start-up Expenses 48 49 50 51 52 Overall Potential Low (-1) Medium (0) High (+1) Overall Low (-1) Medium (0) 0 High (+1)
