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Renewable Energy Consulting Services LLC
Renewable Energy Consulting Services "RECS Our Team"
Business Case & Market Analysis
Business Case & Market Analysis
A business case analyzes the likely costs, benefits, risks, financial results and other business consequences of an action or investment. It essentially asks: “What happens if we take this or that action? "
A market analysis allows you to define the path down which you are headed. Both will enable you to make more informed decisions, lure investors, sidestep pitfalls, attract customers and know how best to generate sales.
To win awards with a request for proposals, you need to convince the reviewers that you know what you are doing, are extremely good – if not the best – at what you do, have a solid plan for solving their problem, and are their best choice for providing the service or product being requested. A good business case and market analysis can help you win RFPs.
It’s the same when you are requesting financing. The best businesses and investments are those that provide an attractive return. The best businesses also use resources wisely.
One way to demonstrate this is through a thorough market analysis, which is a quantitative and qualitative assessment of a market. It looks into the size of the market you are targeting, both in volume and in value, and allows you to identify the market niches you can best serve, know who your customers are, understand their buying patterns, determine how best to attract them, determine your competitive advantages, pinpoint your competitors’ vulnerabilities, and understand the economic environment in which you must operate, including barriers to entry and regulation.
A market analysis needs to demonstrate your expertise in your particular market and the attractiveness of the market from a financial standpoint. Its objectives are to show to investors that:
-- You know your market, and
--The market is large enough to build a sustainable business.
Whenever resources such as money or effort are consumed, they should be in support of a specific business need or result in a commercial benefit.This is where the business case comes in. Business cases are created to help decision-makers ensure that:
-- A proposed initiative will make good business sense because it offers better value, greater efficiency, enhanced performance, increased sales, or improved customer satisfaction compared to other alternatives, including the alternative of doing nothing, and
-- The necessary milestones, measures and performance indicators are identified to guide implementation and realization of the proposed initiative.
Business cases can be comprehensive and highly structured, or informal and brief. A formal business case will include the background of the project, the expected business benefits, the options considered (with reasons for rejecting or carrying forward each option), the expected costs of the project, a gap analysis -- a comparison of actual performance with potential or desired performance -- and the expected risks. The business case should also discuss the option of doing nothing, including the costs and risks of inactivity. From this information, the justification for a project is derived.
-- Prepare a comprehensive, highly structure or informal and brief business case to provide the justification for a proposed business action or project,
-- Conduct a market analysis to help you better define your market,
-- Carry out a market review to confirm and expand on the information you have collected, or
-- Undertake a comprehensive market analysis to fully define a target market.
We also can review, offer suggestions for improvement and sharpen the impact of your current business plan, or prepare a business plan from start to finish, along with a financial model and the other elements of a successful financing package.
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