{"id":2425,"date":"2015-06-16T13:48:26","date_gmt":"2015-06-16T17:48:26","guid":{"rendered":"https:\/\/web.uri.edu\/risbdc\/?page_id=2425"},"modified":"2020-12-29T13:34:26","modified_gmt":"2020-12-29T18:34:26","slug":"businessstartup","status":"publish","type":"page","link":"https:\/\/web.uri.edu\/risbdc\/businessstartup\/","title":{"rendered":"Business Start-Ups"},"content":{"rendered":"<h1 style=\"text-align: center\">Business Start-Ups<\/h1>\n<h2 style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-3372 aligncenter\" src=\"https:\/\/web.uri.edu\/wp-content\/uploads\/sites\/987\/business-starting-line-300x200.jpg\" alt=\"Career\" width=\"300\" height=\"200\" srcset=\"https:\/\/web.uri.edu\/risbdc\/wp-content\/uploads\/sites\/987\/business-starting-line-300x200.jpg 300w, https:\/\/web.uri.edu\/risbdc\/wp-content\/uploads\/sites\/987\/business-starting-line-768x512.jpg 768w, https:\/\/web.uri.edu\/risbdc\/wp-content\/uploads\/sites\/987\/business-starting-line-1024x683.jpg 1024w, https:\/\/web.uri.edu\/risbdc\/wp-content\/uploads\/sites\/987\/business-starting-line.jpg 1254w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/h2>\n<div id=\"ContentPlaceHolder1_divTopInfo\">\n<p>&nbsp;<\/p>\n<p>After you have completed the following exercises and questions designed to assess your business idea, register for our no-cost <a href=\"https:\/\/www.risbdc.org\/Events.aspx?&amp;days=90\" target=\"_blank\" rel=\"noopener\">The Right Foot workshop<\/a>. This intensive three-hour workshop will assess the feasibility of your business idea and provide you with the tools and tips needed to plan for entrepreneurship. Get started with a self-assessment by reading below.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<p><span style=\"color: #0000ff\"><b>Questions to Assess Your Big Idea<\/b><\/span><\/p>\n<p>What is your primary aim in life and will your business help you fulfil that vision?<\/p>\n<p>What core competencies will you bring to the business?<\/p>\n<p>Are you missing any unique skills or resources that are vital to success?<\/p>\n<p>What product\/service are you proposing to offer?<\/p>\n<p>What is the problem \u2013 what is the burning need that needs to be relieved?<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #0000ff\"><strong>Questions to assess your Customers:<\/strong><\/span><\/p>\n<p><span style=\"color: #0000ff\"><strong> Customer segments are the group or groups of people and\/or organizations that a business owner aims to reach and create value for with a defined value proposition.<\/strong><\/span><\/p>\n<p>Who are your customers?<\/p>\n<p>Can you qualify the pain that your customers feel?<\/p>\n<p>How will you make your customers\u2019 lives better?<\/p>\n<p>How is your product\/service different than your competitors?<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #0000ff\"><strong>Video Exercise: Value Proposition Canvas<\/strong><\/span><\/p>\n<p>You need to tactfully match your value proposition with your customers\u2019 needs to attract their attention. Watch this four minute video and work out the defined concepts.<\/p>\n<div class=\"oembed oembed-youtube-com\" style=\"\" data-url=\"https:\/\/www.youtube.com\/watch?v=aN36EcTE54Q\"><iframe loading=\"lazy\" title=\"Value Proposition Canvas Explained\" width=\"1000\" height=\"563\" src=\"https:\/\/www.youtube.com\/embed\/aN36EcTE54Q?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p>Now that you\u2019ve watched the video, let\u2019s think about your team and what technology you have or will need to sustain your business. The \u201cteam\u201d can be defined broadly but it\u2019s those people who will help you. They could include business partners, employees, suppliers, family members and others. At this point, getting feedback from some of these folks could be helpful.<\/p>\n<p>You\u2019ve done a lot of work up to this point. You may want to join one of <a href=\"https:\/\/www.risbdc.org\/Events.aspx?&amp;days=90\" target=\"_blank\" rel=\"noopener\">our upcoming workshops<\/a> with our expert counselors to sort through the findings. OR, move onto the more advanced Business Model Canvas below. The Canvas addresses several important elements needed to plan your business.<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #0000ff\"><strong>Exercise: Business Model Canvas <\/strong><\/span><\/p>\n<p>Watch this <a href=\"https:\/\/www.youtube.com\/watch?v=QoAOzMTLP5s&amp;feature=youtu.be\" target=\"_blank\" rel=\"noopener\">two minute&nbsp;explaining the Business Model Canvas<\/a>. While watching the video keep in mind the following notes:<\/p>\n<ul>\n<li>Customer Segment: You\u2019ve already worked on this element above<\/li>\n<li>Value Proposition: You\u2019ve already worked on this element above<\/li>\n<li>Key Partners: Partners must be reliable, but always have a backup plan.<\/li>\n<li>Channels: Customers will tell you which distribution methods are most convenient<\/li>\n<li>Customer Relationships: Talk with the customers to ascertain their expectations.<\/li>\n<li>Revenue Streams: Be proactive to determine what customers\u2019 value.<\/li>\n<li>Key Resources: What assets in the business are indispensable for creating value<\/li>\n<li>Key Activities: Unique activities distinguish you from the competition.<\/li>\n<li>Cost Structure: Be judicious with relationships while shopping for value.<\/li>\n<\/ul>\n<p>The results of this Start-Up Process will lead to one of two conclusions. Either you will recognize the need to further develop the idea or it will strengthen your confidence about starting the business. If you want to move ahead, register for one of our <a href=\"https:\/\/www.risbdc.org\/Events.aspx?&amp;days=90\" target=\"_blank\" rel=\"noopener\">upcoming no-cost workshops here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business Start-Ups &nbsp; After you have completed the following exercises and questions designed to assess your business idea, register for our no-cost The Right Foot workshop. This intensive three-hour workshop will assess the feasibility of your business idea and provide you with the tools and tips needed to plan for entrepreneurship. Get started with a [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-2425","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/web.uri.edu\/risbdc\/wp-json\/wp\/v2\/pages\/2425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web.uri.edu\/risbdc\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/web.uri.edu\/risbdc\/wp-json\/wp\/v2\/types\/page"}],"replies":[{"embeddable":true,"href":"https:\/\/web.uri.edu\/risbdc\/wp-json\/wp\/v2\/comments?post=2425"}],"version-history":[{"count":1,"href":"https:\/\/web.uri.edu\/risbdc\/wp-json\/wp\/v2\/pages\/2425\/revisions"}],"predecessor-version":[{"id":9116,"href":"https:\/\/web.uri.edu\/risbdc\/wp-json\/wp\/v2\/pages\/2425\/revisions\/9116"}],"wp:attachment":[{"href":"https:\/\/web.uri.edu\/risbdc\/wp-json\/wp\/v2\/media?parent=2425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}