In the opportunity analysis plan, you will document the viability of an idea, state its competitive advantage, and outline a business path. You should deliver a concise report of your findings and two video presentations. Your plan must contain the following main elements:

Title page: Opportunity Analysis Plan

Report includes the following sections:

Section $1$: Description of Idea

Provide general overview of idea

Explain how it solves a problem, meets a need, and so on

Describe the basic business concept $($textbook worksheet, Chapter $2)$

Discuss and evaluate the competitive advantage

Section $2$: Market Analysis

Include the short paper from Milestone One

Section $3$: Assessment of the Entrepreneur and the Team

Where are the knowledge gaps and how are they covered?

How is the team structured?

Section $4$: Business Phasing

This is a discussion of the logical progression for growing a business, which starts from the initial idea and grows into a viable business venture.

The phasing approach should explain how the development phases minimize risk, aid learning and analysis at the earliest possible stages, and create a proper progression of the business venture.

The goal of developing phases is to show how much risk is required for each phase compared to the expected outcome or return on the investment; phasing allows for learning during each step and creates a decision point prior to moving on to the next phase on whether to proceed, modify the business, or exit $($with potentially a smaller overall loss$).$

Potential planning and development stages or phases:

Idea stage

Concept stage

Test marketing stage

Product or service development stage

Commercialization

Include anticipated resource requirements for each stage of development.