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Mullins' Seven Domains Model

John Mullins' Seven Domains Model offers a structured approach to analyzing various factors influencing the success of a business venture. By examining each domain thoroughly, entrepreneurs can gain clarity on the viability and potential challenges associated with their business ideas. Below is an explanation of each domain in Markdown (.md) format:

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Market Attractiveness

Market Domain - Macro Level

  • Market Size: Assess the overall size of the market, potential customer base, revenue opportunities, and sales volume.
  • Market Trends: Analyze recent growth trends and predict whether this growth is sustainable in the future.

Target Segment Benefits and Attractiveness

  • Market Domain - Micro Level
    • Segment Identification: Identify the specific target segment for your product or service.
    • Differentiation: Determine how your offering stands out from competitors within the chosen segment.
    • Trends: Evaluate the growth prospects of the target segment and anticipate future developments.
    • Expansion: Consider potential future segments to target after establishing in the initial segment.

Industry Attractiveness

Industry Domain - Macro Level

  • Industry Definition: Define the industry you plan to enter and assess entry barriers and competition.
  • Competitive Landscape: Investigate the intensity of rivalry within the industry and gather intelligence on competitors.
  • Supplier and Buyer Power: Analyze the bargaining power of suppliers and buyers within the industry.

Competitive and Economic Sustainability

  • Industry Domain - Micro Level
    • Unique Selling Proposition (USP) Analysis: Identify and sustain a unique position in the market.
    • Resource Comparison: Evaluate your resources compared to competitors, including patents, processes, and capabilities.

Mission, Aspirations, Propensity for Risk

Team Domain

  • Personal Commitment: Reflect on personal motivations, values, and goals aligned with the business venture.
  • Team Alignment: Ensure team members share the same level of commitment and willingness to work hard for success.

Ability to Execute on Critical Success Factors

Team Domain

  • Identify CSFs: Determine the key activities or decisions crucial for business growth and success.
  • Assess Team's Capability: Evaluate whether the team possesses the skills and abilities required to execute CSFs effectively.

Connectedness Up, Down, Across Value Chain

Team Domain

  • Network Utilization: Leverage connections with suppliers, investors, customers, and distributors.
  • Resource Acquisition: Identify how connections can facilitate access to necessary resources and opportunities.

By systematically evaluating these seven domains, entrepreneurs can gain valuable insights into the feasibility and potential success of their business ventures. This structured approach helps in making informed decisions and mitigating risks associated with starting or expanding a business.

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