Business Analysis Board
Visually analyze your idea or business by using our Business analysis board. Ideal for consultants and startups.
- Steps
- 9
- Last edited
- Mar 2, 2022
- Created by
- Nova
About this process
This tool is ideal to evaluate your current business or idea. Use this tool before developing any products or a marketing strategy or before starting a business. You will analyze and understand your idea or business in-depth and it will provide you and your team information about how you should approach sales, marketing, and product development. We recommend using this tool with your team and discuss all the concepts and questions with each member. We also recommend using a discussion tool like "The six thinking hats" or "Roles" to ensure the discussion flows and everyone understands their role.
The process in detail
9 steps- 1
Who is the target market?
- 2
Define the problem or pain.
- 3
Empathize with your audience: What do they say? What do they do?...
- 4
What if...
- 5
Benefits of solving the problem.
- 6
Proposed Solution or ideas.
- 7
Benefits of the Solution (Optional)
- 8
Explore the idea/business solution further.
- 9
Re-Define your business or idea (Optional).
Read the full text
1. Who is the target market?
Define your target average prospect. Be very specific, as if it were ONE person. Gender, education, employment, family. Identify what it is about them that makes them destined to have the problem you aim to solve.
2. Define the problem or pain.
What is the nature of their specific problem? Physical, mental, emotional components? Answer the following questions. When do they actually experience the problem acutely? How often do they suffer? How long, What amount of time/money is wasted by the problem? Why can't they solve it themselves? Why ISN'T it their fault ie. What's their excuse for having this problem? Why does this problem happen to them vs others? How have they tried to solve the problem and failed? This has to do with things they thought to try themselves. It also has to do with competing solutions. Give them the 'full menu' of solutions that don't work.
3. Empathize with your audience: What do they say? What do they do?...
What do they hear, what do they say, what do they see, how do they feel?
4. What if...
What if they could solve it, what would life be like? Show them the possibilities of a life without suffering. Show them the reverse of all the things we identified above.
6. Proposed Solution or ideas.
What is your solution? What is the physical nature of it? What is included?
7. Benefits of the Solution (Optional)
Why has each component of your product or service been included? How does each benefit the prospect? The concept of time gratification: When can they solve the problem once they get it? Is it an instant solution?
8. Explore the idea/business solution further.
Where else can they use the solution? Where will they gain benefit beyond solving the specific problem? Mirror this to the ripple effect discussed above. Does your solution have multiple applications?
9. Re-Define your business or idea (Optional).
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- Use the sticky notes!
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