The New Business Road Test: What Entrepreneurs and Executives Should Do before Writing a Business Plan

International Journal of Productivity and Performance Management

ISSN: 1741-0401

Article publication date: 1 October 2004

Citation

(2004), "The New Business Road Test: What Entrepreneurs and Executives Should Do before Writing a Business Plan", International Journal of Productivity and Performance Management, Vol. 53 No. 7. https://doi.org/10.1108/ijppm.2004.07953gae.004

Publisher

:

Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited


The New Business Road Test: What Entrepreneurs and Executives Should Do before Writing a Business Plan

The New Business Road Test: What Entrepreneurs and Executives Should Do before Writing a Business Plan

John MullinsPearsonISBN: 0273663569£21.99

This book is about testing business ideas before writing any business plan. Preventing failure – and avoiding wasted investment – is much better than clearing up after one. Providing vital help before you invest precious time, money and effort.

The author build on lessons learned by studying a number of entrepreneurs and sets out a practical framework for assessing new business ideas. The book identifies seven domains for the assessment of any market opportunity and guides the reader through how to test the idea. The model comprises of four market and industry domains and three related to the entrepreneurial team. These seven domains address the central questions in the assessment of any market opportunity:

  • Are the market and industry attractive?

  • Does the opportunity offer compelling customer benefits as well as distinct advantage over other solutions to the customer’s needs?

  • Can the team deliver the results they seek and promise to others?

The book sets out a customer-driven feasibility study that will guide the assessment of any new business idea or opportunity before any significant investment or time has been spent on the project.