Choosing your final year research project
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Submitted by sammi on Thu, 05/02/2013 - 17:04
Many students find it very hard to find their final year project idea. Indeed it is hard. Everyone is struggling looking for a killer business idea with a reputable business model.Now,i will be clear from the start. If your project does not answer the following questions, then,it is not worth working on.
- Customers:Which customers and users is your project goint to serve? Which jobs do they really want to get done?
- Value propositions: What are you offering them? What is that getting done for them? Do they care?
- Channels: How does each segment want to be reached? Through which interaction points?Do they like the interaction point you are putting in place?
- Customer relationships: What relationship are you establishing with each segment of your target custrmer base? Personal? Automated? Acquisitive? Retentive?
- Revenue streams: What are customers really willing to pay for? How?Are you generating transactional or recurring revenues?
- Key resources: What are the key resources that underpin the business model? Which assets are essential?
- Key activities: Which activities do you need to perform well in the business model? What is crucial?Focus on the crucial bits first.
- Key partners: Which partners leverage your model? Who do need to rely on? Are they accessible?
- Cost structure: What is the average cost structure?How much do you need to get the project working?
Simple: If your project can not find satisfactory answers to these questions, then,it is still lacking.