This template will be useful to analyze the competitive positions of your idea in the market and to develop strategies. In the SWOT analysis we are evaluating the following:
Strengths (internal – talks about your idea) This refers to the strengths of your idea and the ways in which it can compete within the market.
Weaknesses (internal – talks about your idea) This refers to possible disadvantages of your idea that could become an obstacle when you go into the market.
Opportunities (external – talks about the market) You understand the opportunities offered by the market you’re about to enter and from which your idea can benefit.
Threats (external – talks about the market) We refer to those threats that may act as obstacles in the market you will be competing.
This template will help you organize your questions and summarize what you have learned. These interviews will help you understand your customers and their needs. You will also be able to identify trends that will validate your idea.
The empathy map helps you to better understand the customer by analyzing their opinions and behaviors when they encounter the problem you are solving. This map gives you a perspective on what they say, feel, think and do about the problem.
The experience map is an alternative tool used to understand and empathize with the customers when they encounter the problem you’re trying to solve. It is divided into the “before”, “while”, and “after” of the solution process. This tool will answer the questions “what actions does our customer take”, “what does our customer think through the process” and “how does our customer feel during the process.” This tool will help you identify areas of opportunity that you can incorporate into your idea to solve the customer’s problem.
Customer Journey Map
The customer journey map is another alternative tool you have when analyzing your customer’s journey. This template is different because it gives you a more detailed perspective by dividing the journey into five parts. In each one of these you can analyze in more depth the actions taken by the customer in solving the problem they face. This template, by focusing on actions, allows you to identify many areas of opportunity.
This feedback panel is a very useful tool in the “testing” stage. In this stage, we present to the customer how our idea will be and how it will work through a prototype to validate it. The client will be answering: “what they liked”, “what was not clear to them and created confusion” and “what criticisms they have to the prototype.” This tool is used in the Design Thinking Framework and helps you develop your idea focused on the customer’s needs.
Business Model Canvas (BMC)
The Business Model Canvas is a useful tool that summarizes your business idea on a single page. The BMC is divided into nine sections that cover the value you will provide to your customer, define who your customer is, how to reach them, how and what you will need to provide value to your customer, among others. This will summarize your idea clearly and concisely.
This tool will help you identify your direct, indirect or substitute competitors. In addition, in this template you will find a guide of questions to carry out your competitor analysis and a list of five benefits of analyzing them.
With this tool you will be able to learn about the six types of businesses that exist in the entrepreneurial field. This will give you the opportunity to identify which one or ones work best with your idea, as well as provide a basis for you to explore other business models once you have started.
Navigating the Entrepreneurial Ecosystem
Navigating the entrepreneurial ecosystem is a list of ten programs available in Puerto Rico to help you in each one of the stages of your entrepreneurship from the development and validation of the idea, to the growth and internationalization of the business.