How to develop a project

To develop a project, you need to come up with a business plan (concept), and then calculate it. The latter refers not only to profitability, but also reality: how vital is the developed concept, will it find a response with the target audience, what motives will be for clients (customers, customers).

You will need

• - a computer

• - telephone

• - marketing research results

Instruction manual

1

Describe your business plan on paper. This will be the concept preceding the development of the project. On a few sheets, briefly answer the questions: what kind of product; what assets are needed for its production; who needs a product; as needed; how to inform the audience that you have one; how to motivate the target group to buy; how to organize sales or delivery to the final consumer. These questions will slightly change when it comes to, for example, a service. But still, service is a product. And the main points of the concept will be the same.

2

Analyze how the described concept matches the way you imagined the future project before describing it. All of us in our thoughts tend to simplify the future business a little. Whereas the project described on paper requires more detail.

3

Discuss your business plan with colleagues. Even if the development of the project is one person’s business, it will be nice to voice your thoughts and arguments to people you trust because of their competencies. It’s good at this stage to hold a series of focus groups to discuss the advantages and disadvantages of the product.

4

Gather focus groups. First, decide how many will be. 3-4 focus groups are considered optimal if the project is designed for a narrow segment of buyers and up to 10 if it is a mass demand product. Decide on what criteria and how you will select participants. Invite them. Develop a presentation of the project or make prototypes. Formulate the questions you want answers to. Decide who will be the moderator - the leader of the focus groups, who - the observer. An observer is necessary in order to record non-verbal reactions of participants. In extreme cases, the observer can be replaced by a video camera, but, as a rule, people in front of the camera behave more restrained.

5

Support the results obtained using focus groups with marketing research data. For example, you will need data on the state of the production market (who produces the same product, at what cost it sells, its main consumer characteristics). Also consider customer market information. Drawing up a portrait of a potential target group will help with targeting the future project to consumers. The seller's market (when consumers were forced to buy what is) has already ended. Now the buyer’s market, and he dictates his own rules, which must be taken into account when developing the project.

note

When developing a project, you should not be guided solely by the idea, even if it seems brilliant to you. Arm yourself with a calculator and calculate whether all this is interesting in numbers.

Useful advice

To competently develop a project, it makes sense to do this not alone, but by a team of 3-4 people.

how to develop a plan in 2019