Template for First ScreenComplete this screen by highlighting where you would rank your idea. Then prepare a paper that discusses these points and why you feel they are ranked as they are. Provide evidence of your ranking in your discussion. Part: $1$Strength of the Business IdeaLow Potential $(-1)$Moderate Potential $(0)$High Potential $(+1)1.$ Extent to which the idea:$-$ Takes advantage of an environmental trend$-$ Solves a problem$-$ Addresses an unfilled gap in the marketplaceWeakModerateStrong$2.$ Timeliness of entry to the marketNot timelyModerately timelyVery timely$3.$ Extent to which the idea adds value for its buyer or end$-$userLowMediumHigh$4.$ Extent to which the customer is satisfied by competing products that are already availableVery satisfiedModerately satisfiedNot very satisfied or ambivalent$5.$ Degree to which the idea requires customers to change their basic practices or behavioursSubstantial changes requiredModerate changes requiredSmall to no changes are required Part:$2$Industry$-$Related IssuesLow Potential $(-1)$Moderate Potential $(0)$High Potential $(+1)1.$ Number of competitorsManyFewNone$2.$ Stage of industry life cycleMaturity Phase or decline phaseGrowth phaseEmergence phase$3.$ Growth rate of the industryLittle or no growthModerate growthStrong growth$4.$ Importance of industrys products and$/$or services to customersAmbivalentWould like to haveMust have$5.$ Industry operating marginsLowModerateHigh Part: $3$Target Market and Customer$-$Related IssuesLow Potential $(-1)$Moderate Potential $(0)$High Potential $(+1)1.$ Identification of target market for the proposed new ventureDifficult to identifyMay be able to identifyIdentified$2.$ Ability to create barriers to entry for potential competitorsUnable to createMay or may not be able to createCan create$3.$ Purchasing power of customersLowModerateHigh$4.$ Ease of making customers aware of the new product or serviceLowModerateHigh$5.$ Growth potential of the target marketLowModerateHigh Part: $4$Founders Related IssuesLow Potential $(-1)$Moderate Potential $(0)$High Potential $(+1)1.$ Founders or founders experience in the industryNo experienceModerate experienceExperienced$2.$ Founders or founders skills as they relate to the proposed new ventures product or serviceNo skillsModerate skillsSkilled$3.$ Extent of the founders or founders professional and social networks in the relevant industryNoneModerateExtensive$4.$ Extent to which the proposed new venture meets the founders or founders personal goals and aspirationsWeakModerateStrong$5.$ Likelihood that a team can be put together to launch and grow the new ventureUnlikelyModerately likelyVery likely Part: $5$Financial IssuesLow Potential $(-1)$Moderate Potential $(0)$High Potential $(+1)1.$ Initial capital investmentHighModerateLow$2.$ Number of revenue drivers $($ways in which the company makes money$)$OneTwo to threeMore than three$3.$ Time to break evenMore than two yearsOne to two yearsLess than one year$4.$ Financial performance of similar businessesWeakModestStrong$5.$ Ability to fund initial product $($or service$)$ development and$/$or initial start$-$up expenses from personal funds or via bootstrappingLowModerateHigh Overall PotentialScore $(-5$ to $+5)$Overall Potential of the Business Idea Based on Each PartSuggestions for Improving the PotentialPart $1$: Strength of Business IdeaHigh potential Moderate potential Low potential Part $2$: Industry$-$Related IssuesHigh potential Moderate potential Low potential Part $3$:Target Market and Customer Related IssuesHigh potential Moderate potential Low potential Part $4$: Founders $($or Founders$)$ Related IssuesHigh potential Moderate potential Low potentialincrease the knowledge of the industries.Part $5$: Financial IssuesHigh potential Moderate potential Low potential.Overall AssessmentHigh potential Moderate potential Low potential