Idea Evaluation: Student Success Coaching

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.

Stay curious

– Michael

Idea Evaluation: Local Coffee Shop

1 The Idea – brief description

Open a local coffee shop in Passau (german city) serving quality coffee and sweets in a traditional american environment.

2 Problem Solved – what is broken that the idea fixes?

There is no such thing as a „Starbucks“ or anything comparable in Passau.

3 Who Has This Problem? – market size, characteristics, just me?

Coffee drinkers who enjoy the „Starbucks“ like coffee house environment. Might be especially attractive to young people and tourists.

4 How Resolved? – is the resolution economical, practical, technologically feasible?

Opening a coffee shop in a strategic position to maximize profit with low costs through smart decision making to boost productivity and sales.

5 Business Model – how can I make money solving this problem for the identified audience? How much money can I make?

Charging more for the coffee than the competition by establishing a brand that people are willing to pay for.

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.

Already existing coffee shops, like „Black Bean“, or „Kaffeebar“. Collaborations might be possible, because the existing coffee shops are independent and not too big.

7 Differentiation – what color are my elephant’s sunglasses, how I will beat the competition? To what extent are the points of differentiation sustainable?

The environment should be the main difference. Typical coffee house atmosphere to hang out, enjoy the coffee, talk, meet, etc. Most other coffee shops cannot provide this environment.

8 Challenges – what potential pitfalls that could cause the idea to fail?

Finding an appropriate location. To create the right atmosphere, a lot of space will be needed. And it will be difficult to become an established coffee house among the competitors with loyal customers.

9 Resources – what contacts, capital, facilities and other assets will be required to execute the idea?

Ground, labor, capital. Labor might be easier to get than the other two since tasks are quite easy. Quality coffee is needed as well as the facilities and an appropriate real estate with a strategic advantage. Position is key.

10 Fit – do I have the appropriate skills and passion to successfully execute this idea?

Not yet, since major organizing and business skills are needed which still are to required to pull something like this off. But it’s an idea to be remembered.

Stay curious
Michael