1 The Idea – brief description
Personal coaching lessons for students to help them achieve their goals in school.
2 Problem Solved – what is broken that the idea fixes?
There is no advice available for students to teach them how to achieve their goals, work efficiently and handle their work in their day-to-day school life.
3 Who Has This Problem? – market size, characteristics, just me?
Basically every student. Especially the ones with bad grades and a lack of motivation.
4 How Resolved? – is the resolution economical, practical, technologically feasible?
One-To-One lessons and 30-minute coaching intervals to boost their self-esteem and confidence.
5 Business Model – how can I make money solving this problem for the identified audience? How much money can I make?
Price would vary from 5-7€ per 30 minutes.
6 Competition – which competitors will prove to be the most formidable? What potential competitors might arise – can they be converted to partners? NOTE: competitors validate your idea, if you lose heart after one Google search, you are not sufficiently passionate about the idea.
There is no competition at the moment. Just other services offering help in specific subjects like math or languages.
7 Differentiation – what color are my elephant’s sunglasses, how I will beat the competition? To what extent are the points of differentiation sustainable?
Private coaching usually focusses on specific subjects instead of the bigger picture to help students get better at school. My approach takes a look at the bigger picture and motivates students to be eager to learn.
8 Challenges – what potential pitfalls that could cause the idea to fail?
No demand or dissatisfaction with the service.
9 Resources – what contacts, capital, facilities and other assets will be required to execute the idea?
Just myself and some kinds of advertising to kickstart the process and get known.
10 Fit – do I have the appropriate skills and passion to successfully execute this idea?
All in all yes, even tough I would have to learn more about successfully coaching young people. But this shouldn’t be a problem since there are many resources available for this subject.