Identify the specific target market (people with purchasing power, willingness to buy, and authority to make the purchase decision) that you believe will be helped by this solution. Briefly describe the geographic, demographic, and/or psychographic of your target market.

Opening up a group home for at risk youth

4. Create 2 pages of a 7-page business feasibility plan by responding (in writing) to the prompt questions in the 7-Page Business Plan workbook. You will complete only the first 2 pages/steps of the 7-Page Business Plan. You will turn in your typed 2-3-Page Partial Business Feasibility Plan to me on the last day of class. (50 Pts)

5. Deliver a 2-3-minute pitch of your business idea to the class (50 Pts). You may include a PowerPoint presentation (optional) but there can be no more than 10 slides. Your 2-3-minute pitch/presentation must include the following:

• State the problem and the unmet need from Maslow’s Hierarchy of Needs

• Identify the specific target market (people with purchasing power, willingness to buy, and authority to make the purchase decision) that you believe will be helped by this solution. Briefly describe the geographic, demographic, and/or psychographic of your target market.

• Clearly describe what you believe to be an innovative, creative solution to the problem/unmet need

When choosing an idea for a business, the two most important considerations are:

1. Finding something you love to do and are good at doing.
2. Determining whether your idea can satisfy an “unmet or poorly met” need in the marketplace.

As you are thinking about possible business ideas, consider the following:
Some of the best business concepts—from high-profile corporations such as eBay to countless, successful smaller businesses—stem from individuals marketing solutions to problems that plagued them or their families on a personal basis. Your own life can be a rich source of new business ideas, especially when you leverage your creativity and that of your friends, family, and colleagues.