Unit 2: Part 3

Be able to articulate a coherent vision for a new business idea

Business ideas: product or service; features of typical ‘targeted’ customers: age; location; interests; concerns; the benefit to customers or consumers of product or service; difference between ‘benefits’ and ‘features’

Plan: vision, concept, possible customers, possible routes to market, strategy for dealing with competitors, ideas for financing, ideas for implementation, ideas for expansion, ideas for closure (if appropriate), eg selling a business, closing a business.

Learner outcomes - Part 3:

• The learners need to take an idea and explain how it could be developed over a period of at least two years. If learners are planning to undertake other units in the BTEC Level 2 in Enterprise and Entrepreneurship then they should select an idea that is manageable for this qualification.
• If learners have undertaken Toolkits for Idea Generation, they should be able to select an idea from the outcomes of this unit.
• Otherwise, learners should develop an existing idea that has been the subject of their learning for learning outcome Part 1.