“Brain Dumping” can be described as a creative way to easily identify innovative business ideas, which have the potential to be a success. The tool consists of four distinct stages producing dissimilar contents to devise a new business idea. This tool will be used to generate two different business ideas. The following activity just depicts the same:
The First Business Idea Is “Digital Marketing”.
This involves providing numerous digital services to the target client. The list of services includes SEO, content marketing, web development, and others. The reason for picking up this idea is it satisfies my creative thinking and desire to do something different. Besides, there is a growing demand for “3D design”, “Emoji design”, the creation of creative websites, etc. (Behance.net, 2022). Notably, a company’s website is a great source to convey the desired message the brand wants its target population to know.
The Second Business Idea Is “Translation Service”.
According to a study by IBISWorld, the translation service witnessed its decline in demand in 2020, just like it happened to other companies. However, its demand will expectedly increase in the next five years (Businessnewsdaily.com, 2022).
Digital Marketing: The idea is to assist our clients with their ‘digital marketing needs. A business these days should also promote its branding on channels other than just traditional platforms like Newspapers and Television. As the number of users for social media channels is increasing, there shouldn’t be any double thought investing in digital marketing.
Translation Service: This will allow us to take benefit from our multilingual speaking to offer plenty of services, like document translation and website language into useful information across various global markets.
Given a chance, I would explore “Instagram” with my creative content about digital marketing. I am sure to get the response in quick times since I am going to charge less for the similar service as offered by existing market players. Also, my works include no copy-pasting from “Google” or other search engines. Instead, it will be something like people have seen less or they have limited options in the market.
With regards to ‘Translation Service’, my fluency in multiple languages would help me in creating a niche in the translation services industry.
If I start working now on this idea, I can start up within a month since I need to gather the required tools, like my personal computer systems to commence my work.
For translation service, I will expectedly take around 15 days to start. Meanwhile, I will gather information on what kind of work is in demand in the market.
1. |
2. |
3. |
1. |
2. |
3. |
1. |
2. |
3. |
8. |
Home Care Service |
Cleaning Service |
8. |
Home Care Service |
4. |
8. |
Home Care Service |
4. |
7. |
6. |
5. |
7. |
6. |
5. |
7. |
6. |
5. |
1. |
2. |
3. |
1. |
2. |
3. |
1. |
2. |
3. |
8. |
Home Care Service |
4. |
8. |
Home Care Service |
4. |
8. |
Home Care Service |
4. |
7. |
6. |
5. |
7. |
6. |
5. |
7. |
6. |
5. |
1. |
2. |
3. |
1. |
2. |
3. |
1. |
2. |
3. |
8. |
Home Care Service |
4. |
8. |
Home Care Service |
4. |
8. |
Home Care Service |
4. |
7. |
6. |
5. |
7. |
6. |
5. |
7. |
6. |
5. |
Tool 1 (Brain Dumping) – Generating two different innovative business ideas
As evidenced in the table “Lotus Blossom” table above, we have identified two innovative business ideas. These are:
The demand for this service will only be growing. According to a study, the aging population in the world will grow momentarily. In 2019, about one-fifth of the United Kingdom population was aged 65 years. This has increased at a rate of 23% between 2009 and 2019. Interestingly, the growth of the whole population of the UK was only 7% during the same period (Commonslibrary.parliament.UK, 2022).
This is one of the business ideas that can work wonders in favour of the business owner. This market can be divided into household and commercial properties. Both have their demand, but the fact is the industry is booming and held strong during the COVID-19 pandemic when most other industries struggled to perform. As per a report, the general building cleaning market in the country has a growth rate of 7.7% as of 2022 (Ibisworld.com, 2022).
Parameter 1 |
Parameter 2 |
Parameter 3 |
Parameter 4 |
Parameter 5 |
Target audience |
Service mode |
Theme |
Rate (hourly) |
Deadline |
Media companies |
Online |
Media publishing works |
£48 |
2-3 days |
Small companies |
Online |
Contents for their official website |
£48 |
2-3 days |
Family business |
Online |
Contents for their official website |
£48 |
2-3 days |
Marketing agency |
Online |
Contents for their official website |
£48 |
2-3 days |
In-house service |
In-house |
Contents for the official website |
NA (not applicable) |
NA (not applicable) |
NOTE: – The charges will be a bit high when the demand would be to deliver the work in quick hours. The quicker they need a service, the more they will have to pay for it.
Parameter 1 |
Parameter 2 |
Parameter 3 |
Parameter 4 |
Parameter 5 |
Target audience |
Service mode |
Theme |
Rate (hourly) |
Deadline |
Media sector |
Online |
Transcription works |
£1.50 per minute |
24 hours |
Healthcare sector |
Online |
Transcription works |
6-14 cents/line of transcription |
24 hours |
Family business |
Online |
Transcription works |
£1.50 per minute |
24 hours |
Marketing companies |
Online |
Transcription works |
£1.50 per minute |
24 hours |
Hospitality industry |
Online |
Transcription works |
£1.50 per minute |
24 hours |
The two ideas such as above are all potential business areas. We can pick anyone of it; however, that lot will depend on the resources we have and on our capabilities. Regardless of what we decide to do, we will perform extensive research of the market to identify evidence gaps between the market demand and the services offered by existing companies.
S |
Substitute |
|
Instead of hiring a ‘logistic service’, we will own one to ensure some costs are cut, which could have gone to paying the middle-man. |
||
C |
Combine |
|
We will deliver medicines alongside lab specimens and equipment |
||
A |
Adapt |
|
We will buy eco-friendly vehicles to have some control over our environmental performance. We aim to contribute to the environment’s wellbeing in this way and another. |
||
M |
Modify |
|
Initially, we will operate smaller as long as we don’t have more customers retained to serve regularly. Later, we have plans to invest in new equipment or more new vehicles. |
||
P |
Put to other purposes |
|
We will offer free deliveries in our first month of service post which the charges will be nominal and less than our competitors. |
||
E |
Eliminate |
|
We will hire locals to cover more areas and thus eliminate the need to travel far longer distances, which could result in possible late deliveries. |
||
R |
Rearrange / Reverse |
|
We will tie hands with local doctors, doctors available online and pharmacy websites to ensure faster and reliable delivery of service. So, we will be one solution for your many medical needs. |
S |
Substitute |
|
We can work on the ingredient part of the burger because the US burger tastes far much better than the UK burger. Instead of the traditional style of cooking in the UK, we will use about 15-20% of fat content to make the burger taste better. |
||
C |
Combine |
|
Of course, the process of cooking will be from the finest in the world. So, our style of cooking will be fairly different from other food truck brands in the United Kingdom. |
||
A |
Adapt |
|
We will distribute food in reusable plates to make sure we don’t add more to environmental pollution. |
||
M |
Modify |
|
The food truck will be bigger and comes with seating arrangements for about 10 people once. So, it is like a mini restaura |
||
P |
Put to other purposes |
|
In addition to the market trend with a food truck, we are planning food deliveries to the locals. However, this will come later and definitely, is a part of the business. |
||
E |
Eliminate |
|
We will use cooking machines that can cook the food faster to ascertain customers aren’t to wait longer. |
||
R |
Rearrange / Reverse |
|
We will offer beverages free with French fries. |
Name of product/service
“Freelance Content Writing”
Describe your new product or service
What exactly is the product or service?
This will be a company of Freelance content writers. So, we will work for our clients with our in-house freelance writers.
What does it do?
This is a freelance content writing service provider in the United Kingdom. It will serve clients media sector, healthcare industry, family businesses, hospitality industry, and marketing companies. The kind of service will be content writing. So, we will be creating content to be used on the websites of companies in the aforementioned industries.
How should I use it?
All you need is to go to our website: www.xyz.co.uk and click on the service section to understand what we can do for our client. The best thing about our website is you can also compare the prices charged by us with market existing companies in the comparison section.
Tool 2 (Lotus Blossom) – Identifying two innovative business ideas
What does it look/sound/feel/taste like?
It would look like this. We could have more sections than those visible in the image for your convenience.
Why should people buy your product or use your service?
We save the time of our customers by providing a user-friendly interface to our official website and delivering the service in the quickest possible time. Surely, our target is to deliver quality content at a quicker rate and at the best prices.
Who are your competitors within the industry/sector?
Our competitors are many but the below listed are few which we determine to face off directly:
“RBSEO” because they have huge facts showing their dominance in the market.
- “Onto the Page” since they have been catering to the service of the client in several industries.
- “Making your Content” as they enjoy a global client base.
The list of competitors doesn’t just end here. Instead, we need to be watchful for what our competitors are doing differently.
1. Name of product/service
Food Truck
2. Describe your new product or service
What exactly is the product or service?
This is a food truck business to be located in the most populous and denser parts of London.
What does it do?
As the name of the brand suggests, it will be serving foods on the street to the passers-by. Our physical appearance resembles other food trucks in London but we still maintain some points of difference with them. We will innovate with the flavour of the food by following recipes, which are popular in the different parts of the globe. Also, we will entertain food deliveries to local places.
How should I use it?
All you need is to visit our official website: www.abc.co.uk and hit the location section to get information on where we are available. For online orders, you need to follow the booking section to order food online in easy user-friendly steps.
What does it look/sound/feel/taste like?
It appears more like this with increased seating capacity.
3. Why should people buy your product or use your service?
People should buy from us because we cook quality foods in the world’s best flavour. Not just this, we distribute food in reusable plates and mugs to control our environmental impacts. We also deliver food online to suit the demand of office goers and others. We also allow customers to set their budget and accordingly, we will produce the best that they can get at the prices mentioned.
4. Who are your competitors within the industry/sector?
The industry is fiercely competitive. We cannot survive unless we learn to innovate with our service to keep it refreshing for our target customer. We have direct competition with fast-food outlets and food trucks, especially organic food on wheels in London. Besides, we face indirect competition from more established restaurants because they attract a substantial part of the food customer population of the UK.
Tool 3 (Morphological Matrix) – Potential ideas for Freelance Content Writing and Transcription Service
1. Description of the features of the product/service
What are the features? Be descriptive
The features of the product or service will be as outlined as:
- Economic activity– writing content for our clients across industries
- Buying and selling– we will attract the client and deliver on their needs such as designing content for their website. Essential equipment such as computer devices will be procured to facilitate writing.
- Profit motive– like many other businesses we intend to make profits out of content writing; however, we will maintain difference without rivals in terms of fair charging and value for money service.
- Risk and uncertainties– freshly recruited writers could create problems if they don’t learn to deliver quality work. We might not have in-house writers as well as our competitors. Some uncertainties could be the economic recession that might affect our client’s potential to invest. However, we have seen works were increased for the writing industry during COVID-19 (Europeanwriterscouncil.eu, 2022).
- Creativity– we can provide our staff with ‘Grammar Checking’ software to avoid grammatical issues that affect the quality of the paper.
- Customer satisfaction- for customer satisfaction we will keep investing in our training programs to enhance the skills set of our staff. This is for both front and back-end staff.
- Social activity– we will create and maintain our official social accounts on Facebook, Twitter, Instagram, and LinkedIn. We need this to let more people know about us.
- Government control- any government regulation is likely to impact our business. For instance, the fair competition policy of the United Kingdom can limit our capacity to exploit the market and our competitors (Assets.publishing.service.gov.uk, 2022).
What is the purpose of the features?
The features such as above indicate our strengths and weaknesses. This tells us about the areas where we need to be an extra bit careful. Also, it lets us know the market opportunities and threats, so, we could know what to avoid in the market to leverage the opportunities.
What do they do, what do they look like, and what functionality do they serve?
The features indicate the several activities that we will be doing besides some risks and uncertainties the business is explored. They taught us what is our target and how to achieve those. Moreover, it gives us a never-dying attitude to look for opportunities and avoid potential risks the business faces.
2 – Description of the benefits associated with the above features
What are the functional and rational benefits?
The functional benefits include the smooth functioning of a business and its capacity to maintain a profit margin. The rational benefits are justification for why should our business at least have an existence and why it should learn those things to be successful.
What are the emotional benefits?
The emotional benefits include having a proactive approach towards skills development of the staff and doing every necessary to better serve our client.
How do the benefits make your customer feel?
The benefits those above should please our client because they will be assured of guaranteed service for the best prices. We maintain a relationship with our client by also providing an excellent after-sales service.
What value do the benefits add to your customer experience/life?
Trustworthy, assured and 100% quality service at the industry’s most affordable prices.
In the grid below, select five features and associated benefits offered by your competitors. Please use at least two competitors (more if you wish)
Competitor Name |
Feature |
Benefit |
RBSEO |
High-quality service, affordable prices, large clients |
Appeal to a large client base, but not to those looking for the cheapest option. |
Papers Junction |
Non-plagiarised content |
The client will get original work. |
Words and Deeds |
Proofreading |
A client can on their work and get it rechecked by ‘Words and Deeds’ to ensure the quality of the content. |
FatBuzz |
Specialised in digital media, and marketing and design |
The client will get served in diverse sectors. |
Inqsys Technologies |
IT service provider |
Have a client in USA, India, and UK |
Table 1: List of Competitors
(Source: Goodfirms.co, 2022)
Following your competitor analysis, how do your features/benefits compare to your competitors?
What is similar, how is it similar, how do you rate your competitors’ version of the feature?
What features are they offering that you are not?
While we are comparable with our direct and indirect rivals, we lack a diversified portfolio, such as with Inqsys Technologies and FatBuzz. We provide content writing services just like others on the table, but we do not have a vast presence as to some of these companies. To us, we are into an industry, which is fiercely competitive and highly valuable to those who can offer services into diversified segments. Some of them are offering IT services besides writing that we have not yet planned. The other is a specialized agency in digital marketing. We need to travel a lot to pose some real challenges to these companies and hence, earn the client’s attention for increased profit.
Tool 4 (SCAMPER) – Enhancing potential for Medical Courier Service
4 – Summary of USP (unique selling point)
Following your competitor analysis, summarise your USP – Why should the customer choose your product/service above the competition?
The customer should choose our service because we aim at delivering 100% quality solutions at the most affordable prices. Our writing will be free from any Grammatical issues and we will deliver the project faster than most of our rivals could do.
1 – Description of the features of the product/service
What are the features? Be descriptive
- Order windowto allow customers to book their orders
- Refrigeration unitto keep the food cool and fresh for longer
- Prep tableto prepare the food
- Fryers and cooktopsto fry the frying items and cook the food
- Wi-Fi for e-commerce serviceto facilitate online book and delivery of orders
- Digital menu displayto allow consumers to have a sight of the menu we offer
What is the purpose of the features?
These features indicate how we are going to serve our target customer. Moreover, it shows we are thinking of our customers from many perspectives.
What do they do, what do they look like, and what functionality do they serve?
These features do numerous things. For instance, the digital menu displays the food we offer. They represent our branding like how we are going to serve our target customer. These features serve plenty of functionalities, like a prep table in food preparation.
2 – Description of the benefits associated with the above features
What are the functional and rational benefits?
The functional benefits of these features include drawing the attention of consumers and ensuring they are converted to our target customers. The rational benefits include we serve the food needs of diverse cultural experiences as well as novelty cuisines (Loh and Hassan 2021).
What are the emotional benefits?
The emotional benefits are that we have been providing a range of food and beverage at great prices and with incredible service.
How do the benefits make your customer feel?
The customers would feel the food truck has injected a vibrant culture and people of vivid thinking have created a common public space in numerous ways.
What value do the benefits add to your customer experience/life?
We will target underserved areas instead of the same locale as food trucks tend to flourish, which operate also in unearned areas. We are aiming at keeping the barriers as low as possible. We are to hold fast to the health standards instead of hindering its existence by focusing on common exercises by other food trucks in London.
In the grid below, select five features and associated benefits offered by your competitors. Please use at least two competitors (more if you wish)
Competitor Name |
Feature |
Benefit |
Bell & Brisket |
Salt Beef Bagels & Rye |
Decent salt beef bagel in London |
Pizza Pilgrims |
Pizza at various events in London |
They can be invited to the events. |
You Doughnut |
Handmade, bite-sized doughnuts |
This is something for those who love a sweet taste. |
The Orange Buffalo |
Hand-made New York-style free-range wings |
Award-winning crispy fried chicken wings |
Healthy Yummies |
Fresh produce with a nutritional conscience |
Healthy flavour-packed food |
Table 2: Competitor Analysis
(Source: Eatingeurope.com, 2022)
Following your competitor analysis, how do your features/benefits compare to your competitors?
What is similar, how is it similar, how do you rate your competitors’ version of the feature?
What features are they offering that you are not?
We maintain to be similar with our rivals in the table above in many regards. We are a food truck business to serves quality flavoured food at the best prices. However, we do acknowledge that some of our competitors target a niche segment, which we will not in the short term. For instance, “Healthy Yummies” targets health-oriented customers and “The Orange Buffalo”, people who love New York-style free-range wings.
4 – Summary of USP (unique selling point)
Following your competitor analysis, summarise your USP – Why should the customer choose your product/service above the competition?
The customer should choose to eat from us because we are quality-oriented and aim at satisfying the taste and price needs of our target customer.
Research We will deliver our service online, so that, we could reach our customers. Our customers are the middle-income groups, and small-to-medium size companies. The most critical thing about this business is our ability to attract the client that is through marketing and sales skills (Pauliukevi?ien? and Stankevi?ien? 2021). So, we need to be in touch with the people and networked partners on social sites. Also, we need to keep a check of regulatory needs to avoid any challenges on this front (Pauliukevi?ien? and Stankevi?ien? 2021). |
Research The food truck business is for all who love eating outside at the convenience of their reach and expenses they can afford. For this business to succeed, we need to have excellent insights into our customers, so that, we could serve them a relevant variety of foods. The selection of location holds the key because we need to have people interested in our concept (Mallik and Farhan 2018). |
1. – Industry Research
Areas you could cover:
What is the industry?
Writing industry
What size is the industry?
The growth in the Authors, Writers, and Translators has been by 24.8 thousand between 2010 and 2021 (Statista, 2022).
What are some current/emerging industry trends?
A shift to remote working, AI in content marketing, SEO is still leading, a focus on value, video scriptwriting, improving the user experience, and repurposing content (Linkedin.com, 2022).
Use recent news stories/articles to gain information about the activity with your industry and include them here?
Grammarly
CopyAI
ShortlyAI
Jarvis
Nichesss
Word Hero
Copysmith
Article Forge
Headlime
Kafkai
Areas you could cover:
What customer groups are active in this market?
Content writing agencies, content writers, business companies
Where is the market activity? physical or online – provide detail
This is an online service. The order for a writing assignment is placed on an online platform and service providers respond to it by delivering content of demand at the best prices in a given time.
Use recent news stories/articles to gain information on areas such as buying habits, pricing, turbulence within the market, changes within the market, opportunities, etc.
Include your completed competitor analysis grid (you may need to use one of your additional pages)
Summarise key findings from the competitor analysis
Competitor Name |
Feature |
Benefit |
RBSEO |
High-quality service, affordable prices, large clients |
Appeal to a large client base, but not to those looking for the cheapest option. |
Papers Junction |
Non-plagiarised content |
The client will get original work. |
Words and Deeds |
Proofreading |
The client can on their work and get it rechecked by ‘Words and Deeds’ to ensure the quality of the content. |
FatBuzz |
Specialised in digital media, and marketing and design |
The client will get served in diverse sectors. |
Inqsys Technologies |
IT service provider |
Have a client in USA, India, and UK |
We need to look to the areas where our competitors are doing fairly well, so that, we gain a strong foothold in the market.
1. Industry Research
Areas you could cover:
What is the industry?
What size is the industry?
What are some current/emerging industry trends?
Use recent news stories/articles to gain information about the activity with your industry and include them here?
What customer groups are active in this market?
People 20-60 plus, male, female, youngsters
Where is the market activity? physical or online – provide detail
Physical and online. Foods will be sold physically but orders will be made online and followed by home deliveries.
Use recent news stories/articles to gain information on areas such as buying habits, pricing, turbulence within the market, changes within the market, opportunities, etc.
Include your completed competitor analysis grid (you may need to use one of your additional pages)
Summarise key findings from the competitor analysis
Competitor Name |
Feature |
Benefit |
Bell & Brisket |
Salt Beef Bagels & Rye |
Decent salt beef bagel in London |
Pizza Pilgrims |
Pizza at various events in London |
They can be invited to the events. |
You Doughnut |
Handmade, bite-sized doughnuts |
This is something for those who love a sweet taste. |
The Orange Buffalo |
Hand-made New York-style free-range wings |
Award-winning crispy fried chicken wings |
Healthy Yummies |
Fresh produce with a nutritional conscience |
Healthy flavour-packed food |
We have areas to cover up as some of our competitors are targeting a niche segment. We need to get into those areas also.
This section covers the chosen idea from the two, Freelance Content Writing and Food Truck. We choose to go with “Food Truck” as the new business idea.
Competitor 1 |
Competitor 2 |
Competitor 3 |
Competitor 4 |
Competitor 5 |
|
Competitor name |
Bell & Brisket |
Pizza Pilgrims |
You Doughnut |
The Orange Buffalo |
Healthy Yummies |
Overview of product service |
Salt Beef Bagels & Rye |
Traditional Italian Pizza |
Doughnuts |
New York-style free-range wings served with homemade sauces |
Fresh produce |
Target market |
Beef lovers, youngsters |
Youngsters, Pizza lovers |
Young population |
25 years and above |
Young urban males |
Price info |
per person £13 |
£4.99 to £14.97 |
Reasonable |
Reasonable |
£2.29 |
Sales platforms |
Physical, online |
Physical, online |
Physical, online |
Website, Twitter |
Website |
Promotional methods |
Website |
Website |
Website |
Website, Twitter |
Website |
Website/social media platforms |
Website |
Website |
Website |
Yes |
Website |
Website/social media quality |
Okay |
Okay to good |
Good |
Okay to good |
Okay |
Strengths of competitor |
Quality |
Traditional food |
Market positioning |
Market presence |
Healthy items are a good alternative to food |
Weaknesses of competitor |
Prices |
Prices, promotion |
Lack the variety |
Lack of food variety |
No variety |
Similarities with your idea |
Food truck business |
Food truck |
Food truck |
Food business with a niche segment |
Food truck |
Differences with your idea |
The kind of food |
Niche segment |
Niche segment |
Not aiming at food variety |
Niche segment |
1 – Start-up Costs
Start-up item |
Cost |
Source of information (reference) |
Head Chef |
£XX,450 |
https://www.businessleader.co.uk/how-to-start-a-food-truck-business-start-up-and-running-costs-2/ |
Chef/Assistant |
£XX,375 |
https://www.businessleader.co.uk/how-to-start-a-food-truck-business-start-up-and-running-costs-2/ |
Food Truck |
£1,279 |
https://www.businessleader.co.uk/how-to-start-a-food-truck-business-start-up-and-running-costs-2/ |
Marketing and Sales |
£1147.22- £2294.44 |
https://www.businessleader.co.uk/how-to-start-a-food-truck-business-start-up-and-running-costs-2/ |
Ingredients |
£1147.22- £1526.87 |
|
TOTAL |
£16,000- £31,000 |
The total costs could be less or more than £16,000- £31,000. The source of funding would be personal savings and a bank loan.
Our pricing strategy will be to offer the food at the most affordable rate.
Competitor |
Competitor price for similar product/service |
Source of information (reference) |
Bell & Brisket |
£13/person |
https://restaurantguru.com/The-Bell-and-Brisket-The-Barley-Mow-London |
The Orange Buffalo |
Reasonable |
https://www.tripadvisor.in/Restaurant_Review-g186338-d3485006-Reviews-The_Orange_Buffalo-London_England.html |
NOTE: – We have omitted other companies from the list since they all serve a niche segment.
1. How did this learning experience facilitate your skills of developing a new business idea?
This gave me an entirely new learning experience I had never been to. I did learn what to search for and from where to develop a new business idea.
2. How did this learning experience challenge your ability to identify the viability of a business opportunity?
The learning experience was full of challenges. I had the challenge of identifying relevant articles and setting up an expected figure for the costs of operations for our business. However, a lot of things that I could do ensure these are essentials for analysing the viability of the business.
3. How effective was your business pitch? How did you feel pre and post-delivery of the pitch? What did you learn about yourself?
The business pitch was good but it could have been more effective. I was very confused pre-delivery of the pitch like whether I will be able to deliver it. Post-delivery I am sure the next time I will do much better work.
4. What type of challenges did you experience through the course of the unit?
I faced a challenge finding relevant articles. Knowing about the competitors was fairly a challenging task as I didn’t know earlier what pieces of information to collect and from where.
5. How might you have aimed to resolve these challenges? What would you do differently in the future?
Given a chance, I will do it better. I will be ready with the piece of information required to do this task. Moreover, I will take the help of Google to find some sites and how they have worked on a business plan.
6. As a result of engaging the ICBS unit, please identify 3key skills/qualities/ attributes that you have developed personally:
- Creative skills
- Research skills
- Analytical skills
GOAL (Ambition, Aim or Training, Learning, Development need) |
What do you hope to gain? (skills, knowledge, experience, opportunities) etc.) |
How will this be met ? (e.g., training, work experience, e-learning, etc.) |
The target date for completion |
Source of funding (e.g., self-funding, parents, part-time job, etc.) |
Measurement – How will you measure when the task is complete? |
1. Research skills |
Find articles more easily |
Work experience |
1 month |
Self-funding |
Quality articles |
2. Business management |
Management skills |
Training, work experience |
3 months |
Self-funding, full-time working |
Number of cases managed successfully |
3. Entrepreneurship |
Entrepreneurial skills |
Work-experience |
6 months |
Full-time working, Part-time working |
Number of creative business ideas produced |
4. Problem-solving |
Problem-solving skills |
Work experience |
1 Year |
Full-time working at a managerial position |
Number of business problems solved |
5. Idea generation |
Business idea generation |
Work experience |
1-2 years |
Full-time working |
Number of business ideas generated |
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