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Learning Objectives. Explain what a business model is and what it accomplishes. Discuss the process for developing a business model. Explore the testing of a business model through feasibility analysis. “Understanding the 21st Century” Consumer” Janice Roberts. Business Model Components.

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learning objectives
Learning Objectives
  • Explain what a business model is and what it accomplishes.
  • Discuss the process for developing a business model.
  • Explore the testing of a business model through feasibility analysis.

“Understanding the 21st Century” Consumer”

Janice Roberts

why business models fail
Why Business Models Fail
  • Flawed logic
  • Limited strategic choices
  • Imperfect value creation and capture assumptions
  • Incorrect assumptions about the value chain
developing a concept for a new business
Developing a Concept for a New Business
  • A business concept is a concise description of an opportunity that contains four essential elements:
    • The customer definition
    • The value proposition
    • The product/service
    • The distribution channel

“The Internet is Under-Hyped”

FLOODGATE Fund

Partner Ann Miura-Ko

the entrepreneur s story
The Entrepreneur's Story
  • A compelling story has a beginning, middle, and end.
    • How they identified or created the opportunity
    • Challenges they overcame
    • Where they are now
building a business model
Building a Business Model
  • Stage 1: Identify position in value chain
  • Stage 2: Calculate how to create value for the customer
  • Stage 3: Identify revenue sources
  • Stage 4: Determining expenses and cost drivers
  • Stage 5: Develop the competitive strategy
  • Stage 6: Test the model through feasibility analysis
analyzing the feasibility of a business model
Analyzing the Feasibility of a Business Model
  • All opportunities involve uncertainty, which is characterized by varying degrees of risk.
  • Risks can be identified and dealt with.
  • Uncertainty means outcomes are unknown so subjective probabilities must be applied.
analyzing the feasibility of a business model cont d
Analyzing the Feasibility of a Business Model (cont’d)
  • Feasibility and the Business Plan
    • Split view amongst entrepreneurs on the value of the business plan.
  • The Outcomes of Feasibility Analysis
      • Determination of whether the business model appears feasible
    • Preparing for Feasibility Analysis
      • Critical success factors
  • The Feasibility Tests
    • Areas to be analyzed

“The New Business Model”

Guy Kawasaki -Garage Technology Ventures

quick screen for multiple options
Quick Screen for Multiple Options
  • Quick screen ideas before undertaking a thorough feasibility study on any one of the concepts:
    • Start with a concept statement
    • Examine the industry
    • Identify the market – customer & competitors
    • Identify how the product/service benefits the customer
    • Examine founding/management team capabilities
    • List all resources needed by the business
new venture action plan
New Venture Action Plan
  • Create a concept statement for a new venture.
  • Develop a business model for the venture.
  • Craft a story that explains the business and is compelling to others.
  • Prepare to conduct a feasibility analysis on the business model.

“Rapid Business Model Testing”

Ann Miura-Ko - FLOODGATE

new venture action plan a nd in class exercise
New Venture Action Plan… And In Class Exercise
  • Create Your Own Personal Creativity Action Plan.
  • Practice generating ideas and problems using the techniques provided in the chapter
  • NOW…In Class Exercise with Your Ideas…
  • The Exercise -“Developing Creative Skills.” (making connections with your ideas)
  • Instructions on next PowerPoint

** The video

shows tremendous creativity >>>

“Matching Your Product to Customers”

Bespoke Innovations Co-Founder Scott Summit

in class exercise instructions
In Class Exercise Instructions

From Your Homework (the Discussion Posting) –

  • Each person selects 1 of their ideas/innovations…
  • Form Groups of 3…(3 ideas per group)
  • Each person passes an idea to the left…(and so on)
  • Each person adds something to extend the idea
  • You should end up with 3 ideas, each with 2 extenders
  • Then, select the best idea of the group and present
  • Don’t take to long…avoid analysis paralysis
  • Don’t be shy, think out of the box and think big

Let Begin…Form Groups Please…