Your team begins defining the company’s concept, the product and/or the services you want to offer to your clients. Based on your experiences and market research, you are certain that offering your product on the market is a niche that would meet the customers’ needs.
Food for Thought
If you want to establish a new idea on the market there should be at least one aspect which distinguishes you from your competitors. During the team meeting you are going to develop your concept. Why will your future company make a difference?
- Which product/service do you want to offer?
- What are the main points of your concept?
- Is there any competition, for example companies that may offer a similar service in your area?
- Which particular guarantees do you offer your costumers/clients?
- Challenge your concept by looking at the customers’ point of view. Is your company attractive to them?
- Why should a customer call you instead of another company?
Prepare a handout for the rest of your team. In your handout stress the following aspects:
- What particular needs do clients in your market segment have?
- What advantages do you offer in the client’s point of view?
- Compare and contrast your services/products to those offered by your competitors. Where are your strengths and weaknesses compared to your competitors?
- Do you need to establish partnerships with other companies in order to gain a strategic advantage?
- How long will your strategic advantage last?
- What market share do you wish to hold?
Now go on and start your meeting!
How does your company make a difference?
After having gathered all the neccessary information your team has to decide on the niche for your future start-up business.
- First of all choose the chair-person.
- Discuss all aspects.
- Sum up your results in the minutes (resources) of the 2nd session.
- Send your results and your decision to your tutor.
How to hold a meeting
Here you will find all the important documents and worksheets.