Group Name: Scorecast
Flow Chart Template Outline
Use the flow chart template to help you through the key business planning stages.
1. Business Idea Development
Think of a Business Idea:
o What is your business idea?
Sports gambling site, that caters a range of sports from golf to basketball.
o What product or service do you want to create?
A betting service paying-out large winnings.
o What problem does it solve, or what need does it fulfill?
Gives sport fans, an opportunity to get large payouts at a high-risk. It’ll offer different bets such as
over/under, match wins, it gives people who are in need of desperate cash a chance to win.
o What makes your idea unique?
It has flexible options and unique algorithms like BetBuilder, and personalization through in-game
stats (points, assists, etc) to calculate bet odds based on real-time data and pay for knowledge on
personal preferences. Appealing to both casual and invested fans.
Write a brief statement of the business idea, focusing on its purpose and unique features.
2. Market Analysis
Identify Your Target Market:
o Who will use your product or service?
o Who is your target market? (Demographics, age, gender, interests, etc.)
o What are their needs or preferences?
Research Competitors:
o Who else is offering similar products or services? What do they do well, and how can you differentiate
your idea?
Create a brief profile of the target market. List one or two main competitors and a few points about their
strengths and weaknesses.
3. Product/Service Description
Describe Your Offering.
o What are the main features of your product or service?
o What benefits do these features provide to the customer?
o How does your product differ from competitors?
Describe the product/service using bullet points for features and corresponding benefits.
4. Risk Analysis
Identify Potential Risks:
o What challenges could your business face? Think about competition, market demand, or production
issues.
o What is one major risk your business might face? (Market risk, competition, etc.)
o What strategies can you use to mitigate this risk?
Identify one potential risk and write a brief plan for how to address it.
5. Implementation Timeline
Outline Key Steps and Milestones:
o What are the important steps you need to take to launch your business? Set realistic deadlines for
each step.
o What milestones will indicate success?
List two or three key milestones (e.g., product development completion, marketing launch) and approximate
dates for when these should occur.
