Worksheet for Describing an Opportunity

INSTRUCTIONS

Understanding the industry, competition, and market is fundamental to developing a robust business plan. You
need to convince your readers that you have identified a promising opportunity that solves a real customer
problem. Use this worksheet to guide you as you describe the industry, competition, and market.

INDUSTRY BACKGROUND

1. Existing products and services. Describe the industry and its range of products or services.

2. Industry size and shape. Describe the industry's production capacity, unit sales, and overall profitability.
Include unique geographic or distribution factors.

3. Industry trends. Describe emerging trends such as the predicted growth rate, new patterns of and factors
contributing to growth, the overall competitive landscape, and any technological factors.

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4. Potential barriers. Describe any barriers to entry, such as required resources, knowledge, and skills; restrictive
regulations; and capital requirements.

COMPETITIVE ANALYSIS

5. Identify your competitors. Describe your competitors in terms of current offerings, strengths and weaknesses,
market share and strategy, and key success factors.

6. Distinguish your business from others. Describe what differentiates your product or service from others.
Explain how you are responding to a customer need in a new and unique way.

7. Assess threats from the competition. For each competitor, describe threats such as brand recognition, ability
to block your entrance, or the capacity to appropriate the attributes of your proposed offering.

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© 2012 Harvard Business School Publishing. All rights reserved.
Harvard Business Publishing is an affiliate of Harvard Business School.
 HARVARD MANAGEMENTOR

MARKET ANALYSIS

8. Assess the market's size and growth. Address questions such as: Is there room for you? Can the market
expand to include you? Will market demand grow? Be prepared to support your claims.

9. Define your target market. Describe your market in terms of who they are, where they are from, and what
characteristics they have. Include geographic, demographic, and behavioral factors.

10. Articulate your value proposition. Describe the unique set of benefits that customers get if they choose your
offering over your competitors' offerings.

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© 2012 Harvard Business School Publishing. All rights reserved.
Harvard Business Publishing is an affiliate of Harvard Business School.