ENT301 Lean Business Start-Up: Market Viability Analysis

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ENT301 Lean Business Start-Up

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Question:

Assessment Title: Market Viability Analysis

Context

Entrepreneurs using the Lean Start-Up principles, methods and tools reach a point where, based on the best evidence available, decide to continue with the venture or discontinue. This is the GO/NOGO point. Past this point the venture moves forward to success, failure and/or pivot.

You have investigated the Lean Start-Up principles, used lean tools including the Lean Canvas and applied the learning to your own venture. You have developed and tested hypotheses with consumers and stakeholders and validated your learning. You have investigated the types of MVPs and how to build your own MVP.

You are now ready to analyse the market viability of your own venture and determine the GO/NOGO decision.

The purpose of this assessment is to demonstrate your knowledge of all lean principles, methods and tools. You will analyse the readiness of your venture for your market and the readiness of your market for your venture, and reach a conclusion around the market viability of your venture.

Instructions

Conduct an analysis of your own venture for market viability. Your analysis should include the following component as a minimum:

Briefly outline your business venture.

Lean Start-Up methods you have used.Outline activities you have undertaken, aligning them with methods you have studied in this subject. Include your analysis of the cycles, validation and learning.

Tools you have used.Provide tools such as the Business Model Canvas, Lean Canvas and other tools used as part of developing your business ideas, assumptions and planning. These may be provided as attachments.

Identify stakeholders and consumers in your tests.Provide both details and analysis of why specific people were targetted and why they represent the identified market for your venture.

Risk management strategies.Identify the risk management strategies you used and any you have identified for the future of your proposed venture. Include any revisions as you have conducted testing and learning.

Results of your testing with the market.Analyse and provide your results. These may be provided as attachments.

MVP and MVP strategy.Outline your approach to your MVP, its type and strategy to develop.

GO/NOGO.Outline your final analysis of the venture’s market readiness.

Briefly summarise your market viability as identified in your analysis.

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