THE IDEA: This stage is for people who have an idea for a business, product or service.

Your idea might be very new and undefined or it may be something you have been thinking about for a while but have never put down on paper nows your chance to do something about it.

BizIdea 2011/12: Idea Stage From:

Name: Tri Minh Nguyen and Anand Singh. Email Tri_uk@baclieufis.vn, singhaanand@aol.com Student/ Staff/ Alumni MBA Students

Question 1: Describe your product or service idea and the problem it solves? Response: Our products are bio fertiliser, organic vegetable, bio fertiliser making machine. The whole process will not have any waste. Vegetable is for sell; the plant and waste from the process of growing will be made into bio fertiliser using the machine. The fertiliser will be put back to the soil to improve the quality of the next harvest. By doing this, we able to control the whole process of production. The next step is producing seed for vegetable as well. The process will maximise the best product we can get. This also creates a marketing concept of selling truly organic vegetable.

The problem is how to get the Biotechnology that best fit the UK soil. Find a good land for grown vegetables. The best is finding a real famer to cooperate.

Were looking for:

The product/service is described clearly & concisely including: how it works, its features, how it will be used. Diagrams, photographs or other graphics are used to illustrate. A significant problem has been identified.

Score: out of 4 2 4

Confidential panel feedback:

Question 2: Who might buy this product/service ? Response: The market trend is using organic vegetable at the moment. We are targeting UK domestic market at first. Due to we maximise the volume of the product. We believe that we can provide the best price for our vegetable. The product can go to supermarkets, famer market, and food factory. Truly organic, made in UK and affordable price. The fertiliser can be selling to other framer as well. Due to we have good result in our vegetable, our fertiliser will self promote itself. The next step is selling vegetable seed for other farm and end user. It is also a trend that people grown their own. We can supply the seed, the fertilisers, the technique if require.

Were looking for:

Score: out of

Confidential panel feedback:

One or more types of potential paying customer are described.

The relevant needs and habits of these customers are understood.

Question 3: What development does your idea need? Response: - Research more about market of organic vegetable. Price, consumption. - Research more about technology and it practices in the UK. - Calculate the risk production. We need to make sure that we can sell the product. - Research about the land and its fertility - SWOT analysis etc.

Were looking for:

Has identified areas of risk or uncertainty in product or service design. Has thought about which of these areas should be tested and how, e.g. by: building prototypes or models or creating a questionnaire. Has prototyped, tested, analysed the results and used this to improve the idea. Has identified a product/service likely to solve the problem/meet customer needs. Understands what other needs (e.g. end user, customer, distributor/ logistics, retailer, regulatory) must be met by the product/service at launch and what improvements can be

Score: out of
2

Confidential panel feedback:

planned for later. Has considered what assets must be put in place before the product/service can be provided for sale. e.g. Manufacture of a quantity of product or recruiting and training staff, or building a website with sufficient traffic to persuade advertisers.

Question 4: Why will customers buy your product/service? Response: Because it is truly organic, at affordable price and grown from its waste fertilizer Plus the right marketing concept, we believe the product can be selling.

Were looking for:

Has described the offer and its value to the customer, briefly, precisely and using common, readily understood language.

Score: out of
3

Confidential panel feedback:

Has identified the other offers competing for the customer and their strengths and weaknesses relative to the offer and the customer needs. Has included emerging competition and inertia, if relevant, as well as the established players. Has a valuable and compelling offer to each type of customer, relative to the competition.

Question 5: Estimate a price for your product/service Response: - Depend on the production and the harvest each year. - The product should be under 1 pound per kg. according to the factory figure. - Reasonable and cost effective

Were looking for:

Estimate covers the cost of producing the product or delivering the service and what profit needs to be made. Is based on a rough estimate of labour and material costs, overheads, margin for any sales channel and target profit. Has included evidence that the customer will consider this price gives good value, both for the benefits this product/service brings and compared with the price & value provided by the competition.

Score: out of
5

Confidential panel feedback:

Question 6: How will you sell your product/service? Who can help you reach interest and acquire customers? Response: Stage 1: sell in famer market to promote about product quality. Introduce the truly organic concept. Stage 2: sell direct to the consumer, home delivery service through out the supply chain. Stage 3: try to sell to the super market. Through out 3 selling channels.

Were looking for:

Has identified the best sales channels to use to get attention from potential customers. Possible sales channels include: an online shop; in person; a physical shop or market stall; a network of approved sales agents, through selected independent retailers. Has considered ways to present the offer to potential customers and create the circumstances where they buy the product/service. Has estimated how many leads/enquiries may be needed to make a sale and how these lead/enquiries may typically be converted into sales.

Score: out of
3

Confidential panel feedback:

Question 7: How might you maintain competitive advantage for your business? Response: Innovation in products. Due to vegetable are commodity goods. The way to innovation is that we product semi or end-user products. For example: ready made salad from our organic vegetable. Always research and develop new and better way to produce Bio- fertilisers. Innovation the machine to bring in up to area level. It is depend on the result of the fertilisers to promote the machine sale.

Were looking for:

Has identified how to keep competitive advantage for the business & prevent other businesses copying or piggybacking on its success through a combination of: building up the intellectual property of the business and protecting it; building strong/exclusive relationships in its supply/distribution networks; building strong consumer/customer loyalty or other.

Score: out of
10

Confidential panel feedback:

Question8: What impacts may your business have on the people involved in it , the wider community and the environment? Response:

Weather, communication with farmers. Communication in selling channel. Product quality control. Nature loving products, environment friendly and productive.

Were looking for:

Has identified the stakeholders in the business (eg employees, suppliers, customers, shareholders, distributors) & how to gain their help in succeeding Idea has potential to bring significant beneficial impact to the local/regional/national/global community.

Score: out of
2

Confidential panel feedback:

The business can be run in an environmentally sustainable way

Question9: Will the market support your business ambitions? Response: I believe the plan will be success and supported by current market. As we can see the market of organic based foods grew rapidly in UK and other countries like India, Vietnam, China etc. we have a chance and market to grow with inevitable pace.

Were looking for:

Has defined the ambition/scale of the business e.g. A business that supports founders, with a few others, with dozens of employees or as part of a network of other knowledge based businesses. Has provided evidence that there enough potential customers/is a big enough market to support the business. Has ability to find resources needed to start the business eg funding & team. There is a credible explanation of when & to whom the business

Score: out of
2

Confidential panel feedback:

3 3 2

may be sold or transferred and what the assets might be at this stage.

Question10: What are the barriers you need to overcome to succeed and how will you do this? Response: Technology barriers and competitor barrier. The most important barrier will be finding land to start but we are making plans and arranging interviews to overcome this barrier.

Were looking for:

Has identified a sequence of objectives for the business in the next two years Has identified what could go wrong/ the barriers to achieving each of these objectives. Has identified what to do to prevent /overcome these problems.

Score: out of
2

Confidential panel feedback:

Has a survival plan which allows for it taking longer than expected to generate a living income from this idea.