The Strategic Foundation Workbook

This section provides practical exercises to apply everything you have learned in this module. Complete these exercises before moving to Module 2. Your answers will guide your decisions throughout the rest of the course.

Exercise 1: Ideal Customer Profile

Complete the Ideal Customer Profile template from Lesson 1.2. Write at least three paragraphs describing your ideal customer in detail. Include their daily challenges, their emotional state when searching for solutions, and what success looks like for them.

Exercise 2: Value Proposition Draft

Write three versions of your value proposition using the formula from Lesson 1.3. Test each version with the four tests (clarity, relevance, specificity, differentiation). Select your strongest version and refine it until it passes all four tests.

Exercise 3: Competitor Analysis

Identify five direct or indirect competitors. For each competitor, document:
  • Their stated value proposition
  • Their apparent target customer
  • Their positioning strategy
  • Their strengths and weaknesses
After analyzing all five, identify the gap in the market where you can position yourself.

Exercise 4: Perceptual Map

Create a perceptual map using two dimensions relevant to your market. Plot your five competitors and yourself. Identify whether your desired position is currently occupied or available.

Exercise 5: Business Model Selection

Evaluate your situation against the four factors from Lesson 1.5 (skills, timeline, goals, risk tolerance). Write a one-page explanation of your chosen business model and why it fits your current circumstances. If you plan a hybrid model, explain how the pieces fit together.

Exercise 6: The Strategic Summary Document

Combine your work from Exercises 1-5 into a single Strategic Summary Document. This document should include:
  • Your ideal customer profile
  • Your final value proposition
  • Your positioning strategy
  • Your business model choice
  • Your competitive differentiation
Keep this document accessible. You will reference it throughout the remaining modules.
PreviousNext