Checkpoint Report:

Business Idea Development and Analysis Template

This document is designed to guide you through the development and analysis of your
business idea. By completing each section carefully, you will create a comprehensive
overview of your business model, target customers, market conditions, and the potential
value your business can offer. Use this template to ensure a systematic and thorough
approach to developing your business idea.

Replace the Guiding Questions with your answers. Do not change the format of this
document.

Total number of A4 pages no more than 10 pages.

Times New Roman font size 12, single spacing, normal margins of 2.54cm

1. Business Model Canvas

Objective: To outline the foundational aspects of your business

model, including value propositions, customer segments, channels,
and more.

Customer Segments:
Define the different groups of people or organizations you aim to reach and serve.

Guiding Questions:

 • Who are your target customers? What are their key characteristics?
 • Are the target customers companies or consumers? What is the size of these groups?

Value Proposition:
Describe the products or services that create value for your customers.

Guiding Questions:

 • What problem does your business solve for the customer?

 • What unique value does your product/service offer?
 • Why would a customer choose your product/service over others?

Channels:
Determine how you will reach your customers to deliver your value proposition.

Guiding Questions:
 • Through which channels will you communicate with your customers?
 • Which channels will you use to distribute your products/services?

Customer Relationships:
Define the types of relationships you will establish with your customers.

Guiding Questions:

 • How will you interact with your customers (e.g., personal service, automated
service)?
 • What will you do to maintain customer loyalty?

Revenue Streams:
Describe how your business will earn revenue.

Guiding Questions:

 • What are customers willing to pay for?

 • What pricing strategy will you use?
 • Will you use a subscription model, one-time payment, or something else?

Key Resources:
Identify the most important resources your business needs to operate effectively.

Guiding Questions:

 • What physical, financial, intellectual, or human resources are crucial?

 • What resources do you need to deliver your value proposition and maintain
customer relationships?

Key Activities:
Outline the critical activities that your business must perform to deliver value.

Guiding Questions:

 • What are the essential activities for developing and delivering your product/service?
 • What do you need to do to build and maintain customer relationships?

Key Partnerships:
List the partners and suppliers that are essential for your business.

Guiding Questions:

 • Who are your key partners, and how do they contribute to your business?
 • What resources and activities do your partners provide?
Cost Structure:
Identify the key costs associated with your business model.

Guiding Questions:

 • What are the major costs involved in your business?

 • Which resources and activities are the most expensive?

2. Persona Development

Objective: To create a detailed persona that represents your target

customer, helping to better tailor your product/service to their needs.

Personal Characteristics:
Provide a detailed profile of your Persona.

Guiding Questions:

 • What is the name, age, gender, occupation, and location of your Persona?

Personality:
Describe the personality traits of your Persona.

Guiding Questions:

 • Is your Persona introverted or extroverted? Do they make decisions based on logic

or intuition?

Goals:
Outline what your Persona wants to achieve.

Guiding Questions:

 • What are the primary goals or motivations of your Persona?

Frustrations:
Identify the pain points and challenges your Persona faces.

Guiding Questions:

 • What are the main frustrations or challenges for your Persona?

Bio:
Provide a brief background of your Persona.

Guiding Questions:
 • What key experiences or background information define your Persona?

Interests:
Detail the hobbies and interests of your Persona.

Guiding Questions:

 • What does your Persona do in their free time? What are their passions?

Preferred Channels:
Describe the communication channels your Persona prefers.

Guiding Questions:

 • Through which channels does your Persona prefer to interact with businesses?

Brands:
List the brands your Persona is loyal to or frequently engages with.

Guiding Questions:

 • What are the typical brands your Persona interacts with?

3. SWOT Analysis

Objective: To assess the internal and external factors that may

impact your business.

Strengths:
List the strengths of your business.

Guiding Questions:

 • What does your business do well? What advantages do you have?

Weaknesses:
Identify the weaknesses of your business.

Guiding Questions:

 • What areas need improvement? What disadvantages do you face?

Opportunities:
List potential opportunities for your business.

Guiding Questions:
 • What market trends or external factors could benefit your business?

Threats:
Identify potential threats to your business.

Guiding Questions:

 • What external challenges could harm your business?

4. PESTLE Analysis

Objective: To evaluate the external macro-environmental factors

that could impact your business.

Political:
Analyze political factors that may affect your business.

Guiding Questions:

 • What government policies or regulations could impact your business?

Economic:
Analyze economic factors that may affect your business.

Guiding Questions:

 • What economic trends (e.g., inflation, unemployment) could impact your business?

Social:
Analyze social factors that may affect your business.

Guiding Questions:

 • What are the key demographic or cultural trends that could affect your business?

Technological:
Analyze technological factors that may affect your business.

Guiding Questions:

 • What technological advancements could impact your business?

Legal:
Analyze legal factors that may affect your business.

Guiding Questions:
 • What laws and regulations (e.g., employment, data protection) could impact your
business?

Environmental:
Analyze environmental factors that may affect your business.

Guiding Questions:

 • What environmental concerns (e.g., climate change, resource scarcity) could impact
your business?

5. Porter’s Five Forces

Objective: To assess the competitive landscape of your industry.

Intensity of Competition:
Evaluate the level of competition within your industry.

Guiding Questions:

 • Who are your main competitors? How intense is the competition?

Threat of New Entrants:

Analyze the potential threat of new businesses entering your market.

Guiding Questions:

 • How easy is it for new businesses to enter your market? What are the barriers?

Threat of Substitutes:
Identify the threat posed by alternative products or services.

Guiding Questions:

 • Are there alternative products/services that customers could use instead?

Bargaining Power of Suppliers:

Evaluate the power of your suppliers over your business.

Guiding Questions:

 • How many suppliers are there? How dependent are you on specific suppliers?

Bargaining Power of Buyers:

Assess the power of your customers in the market.
Guiding Questions:

 • How many buyers are there? How much influence do they have over pricing?

6. Value Builder

Objective: To align your product/service with the needs and wishes

of your target customer group.

Identify Customer Group:

Define the specific group your product/service is targeting.

Guiding Questions:

 • Who is your target customer group? What are their characteristics?

Determine Customer Goals:

Outline the goals of your customer group when using your product/service.

Guiding Questions:

 • What are the primary objectives your customers want to achieve?

Describe Customer Wishes:

Detail the specific desires and requirements of your customer group.

Guiding Questions:

 • What features or benefits do your customers seek?

Describe Your Product/Service:

Provide a detailed description of your product/service.

Guiding Questions:

 • What does your product/service offer? What supporting services are included?

Analyze the Match:

Assess how well your product/service meets the needs of your customers.

Guiding Questions:

 • How well does your product/service align with customer needs? Are there any gaps?
7. Innovation One Pager

Objective: To succinctly describe your innovative business idea.

Situation:
Describe the context and the problem your innovation aims to address.

Guiding Questions:

 • What problem or need does your innovation address? What is the context?

Solution Direction:
Provide a brief description of the solution you propose.

Guiding Questions:

 • What is the core idea or solution you propose to address the problem?

Hypothesis:
State the assumptions or hypotheses you want to test.

Guiding Questions:

 • What key assumptions are you testing? What are the expected outcomes?

Possible Consequences:
Identify the potential consequences of your proposed solution.

Guiding Questions:

 • What are the expected outcomes? How will the solution impact stakeholders?

Measurability:
Describe how you will measure the success of your innovation.

Guiding Questions:

 • What metrics will you use to measure success? How will you track progress?

Experiment Team:
Outline the roles of the team members involved in developing the idea.

Guiding Questions:

 • Who are the key members of your team? What roles will they play?
Next Steps:
Detail the immediate actions required to move your innovation forward.

Guiding Questions:

 • What are the next steps? What resources do you need to proceed?