Grading criteria:
60 – key discussion blocks are poorly adressed;
70 – missing discussion of a considerable amount of points AND insufficient argumentation (idea needs to be seriously recalibrated);
80 – missing discussion of a medium amount of points AND minor flaws in argumentation (idea needs more evidence, certain building blocks should be revised);
90 – missing discussion of several points OR minor flaws in argumentation (idea needs to be slightly adjusted);
100 – ideal;
Feedback:
1) Offering need to clearly describe what to whom and how you are selling (executive summary in a way); define whether you are for-profit, non-profit of government-related (this will largely define all other components); clearly argue why would people want your product/service (e.g. hospitals may not care about supply sustainability since they are supplied by public contractors for free); try to think about feasibility of your venture in dimensions of a) technology b) finance c) common sense;
2) Customer for customer segmentation combine several characteristics (demographics, income, geography etc.); narrow down your target customer as much as possible (e.g. save everybody is unrealistic); estimate numbers for the total market and the reachable market (it is useful to come up with a pilot first); clearly differentiate between end user and the buyer (e.g. you might offer an educational program to certain groups of people but the actual buyer would be clinics/hospital); for growth potential consider the drivers of the problem/unmet need;
3) Value proposition – try to provide a simple statement summarizing your VP (e.g. for Ikea its affordable furniture that doesn’t look cheap, price with meaning); try to come up with a typical scenario for your customer indicating his/her pain points and how your product/service are solving them; think about VP in relative terms (faster, more affordable, more convenient etc. than existing solutions for the problem)
4) Substitutes and alternatives theres always a substitute or an alternative and you need to argue how your product/service is better;
5) people discuss how you will contribute to the venture; think of a) managing staff b) product/service staff c) operation/support staff;
6) distinctive competencies think about entrenched players/solutions how easily they can copy you;
7) other avoid ambiguous/highly subjective statements (e.g. strong business environment, kind people); avoid overgeneralization (e.g. everybody will want it); always come with sufficient evidence or reasonable assumptions for your statements; use only professional language.
