To complement your past and present analysis of the Problem, this week’s interviews should focus on the Problem, with the interviewees being prospective or current customers. The Problem chapter of the business plan should reflect an understanding of: the existing ecosystem; the current competitors who have significant market share; the gaps in the market that are not being addressed; and the target market being considered.
For this Problem chapter, a TWO-PAGE, SINGLE-SPACED length is appropriate and should address: What is the specific problem you are trying to address? Why is it a problem? Do people in the target industry care about this problem? Why do people care about this problem – does it cost money/time? Are they missing ways to make money? What are people doing about this problem now? Are customers spending money on this problem now? Has anyone else identified this as a problem? Are there competitive solutions to address this problem?
All questions should be answered from TBSB document attached in files
Your interviews from this week should provide you with answers to the above items. Your insights gained from customer interviews should reflect the customers pain points, unmet needs, and/or issues where the customer is seeking gains.
The sophistication of the questions asked, and the insights distilled from the answers, will determine the grade for this week’s assignments.