For your report, you will need to identify a problem, a set of stakeholders who could/should do something and a potential pathway to implementation. Also, you are expected to use a design thinking process, lean start-up theory and business model canvas to guide your proposal. For your proposal report, you should include the following elements:
1. Identify the Problem
a. Explain the problem you need to solve and why it is a problem.
2. Product or Service Analysis
a. Explain how you know this is a problem.
b. Identify the customers (people who are affected by the problem)
c. Identify everyone in the distribution chain
3. Stakeholders
a. Identify your stakeholders
b. Every entrepreneurial initiative needs an owner or champion. This might be yourself (alone or with
others involved in the startup), your company (ideally identify a role that would own the initiative) or
another company that is well-placed to act on the opportunity.
4. Design Thinking Process
a. Describe the stages of your design thinking process.
b. You should focus only on the first three stages: empathise, design, and ideate.
5. Description of Solution
a. Describe the potential solution. Explain why you have chosen your solution.
b. Detail how it solves the company’s viability, competition, capability, etc.
6. Explain the Value Proposition
a. What value do you provide your customer?
b. Each customer should have a separate value proposition
7. Draft Business Model
a. Complete a Business Model Canvas
8. Validation
a. What evidence have you found to provide support for your proposed solution, value proposition, and
business model? Include the justification for your proposal by including research and any insights.
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9. Testing
a. Explain the most important assumptions are you have made and how you could test it as quickly and
inexpensively as possible (minimal viable product).
10. Financial Model
a. Explain how your idea or business will make money. Try to quantify any revenues and costs in your
Business Model Canvas.
11. Challenges and Strategies
a. Identify any challenges you anticipate and the strategies you will utilise to manage or overcome the
challenges.
