The definition of the business idea is followed by the market analysis, including a competitive analysis, based on the target group definition. In the first step of the market analysis, we determine the relevant market size and look at future market developments.With the help of the competitive analysis we identify market entry barriers, analyze your direct competitors and can assess the market attractiveness. The first phase helps us to determine the sales potential of our business concept.
Future customers will compare how attractive our offer is compared to the products/services of our competitors. Accordingly, it is important that we know your strengths and weaknesses compared to the most important competitors. Based on this, we can then identify the opportunities and risks arising from changing market conditions and strengths and weaknesses. The opportunities must then be used for our offer.
One of the most common reasons for the failure of start-ups is the insufficient interest of the market in the product to be purchased. By creating a Minimum Viable Product (MVP), we can quickly and easily evaluate the marketability of our innovation. With the MVP, we can then obtain initial feedback from the target group by entering the market at an early stage, and the product can then be continually improved in several cycles.
The customer will not buy the best product if he does not know it - accordingly, marketing is a decisive factor for the success of a company. In the past it was understood as pure advertising, today's marketing is a consistent orientation of the company towards the needs of the respective target customers. Therefore, the aim is to create a marketing concept for our company that is optimally tailored to the target customers in order to achieve the most efficient customer acquisition and customer retention and to avoid wastage.
From the calculation of turnover and costs to liquidity planning and profitability calculations, the finance plan is the core of every business plan. It presents the development of the company in figures and thus provides information as to whether the foundation is also economically worthwhile. At the same time, the business plan shows us how much capital is needed to finance the company. We are happy to work with co-investors during the founding process in order to secure the subsequent financing.
"There is no exact science of how to create a good start-up idea. However, there is one important point that connects all successful startups. Successful startups always solve a problem."