BUSM 1901: Entrepreneurship for Creative Industries I (Alves) Spring 2024

Developing Your Pitch

A good business idea needs to be based on research. However, research isn't a straightforward process. As you research, your original idea will change - and get better!

Picking your topic IS research - a video from NCSU Library

How do you research your idea? First, think about the following questions:

• Describe your business idea (ex. family photography)
• What industries may be relevant (ex. schools, hospitals, children's clothing companies)
• Describe your target market. This can be both consumers and other businesses (ex. young families)
• What else may be relevant? (ex. experience working with kids)

Thinking about these questions gives you ideas for information to research (ex. birth rate in Vancouver) and ideas for keywords you can use to find that information ("birth rate", families, Vancouver etc.).

Types of Information

The type of information you'll want to find includes:

• industry overviews and trends
  • technological trends
  • market trends: products and services
• the competition: who are they and what are their strengths and weaknesses?
• your competitive advantage
• your target market and their size

You can find this information using the pages on the left: Industry Overviews and Trends, Target Markets, and Competitors.