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Vergos Panos MScBA in Entrepreneurship Rotterdam School of Management

Feasibility analysis of a startup. Vergos Panos MScBA in Entrepreneurship Rotterdam School of Management. About us: StudentHouse.gr is the first Greek real estate e-service, for student housing and low-cost lettings, totally free of any brokerage commission

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Vergos Panos MScBA in Entrepreneurship Rotterdam School of Management

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  1. Feasibility analysis of a startup Vergos Panos MScBA in Entrepreneurship Rotterdam School of Management

  2. About us: • StudentHouse.gr is the first Greek real estate e-service, for student housing and low-cost lettings, totally free of any brokerage commission • Our website promotes the less costly properties to rent in Greece and permits the direct contact between the potential tenant and the landlord • StudentHouse.gr does not serve only students, but also covers the entire range of low-cost house rentals • It is a C2C business with no intermediate costs

  3. 6 Ways to Achieve Feasibility Business Planning Personal traits of the Entrepreneur & the Team Networking Solid Marketing Strategy Pivoting Seed Capital "The best way to have a good idea is to have a lot of ideas" Linus Pauling Chemist

  4. 1. Business Planning (A) • The core of the new venture's feasibility. • Simple Definition: Those efforts by startup entrepreneurs to gather and analyze information about a business opportunity, evaluate tasks, identify risks and strategy, project financial developments and present a concept, in a written plan. • A complete BP enhances: • product development • venture organizing activity • the likelihood of the new venture's survival • And it provides the framework within which subsequent action takes place. • "The seeds of every company’s demise are contained in its business plan" Fred Adler Entrepreneur

  5. 1. Business Planning (B) • BP facilitates: • Goal attainment • Decision-making more quickly Vs trial-and-error learning • Managing resources in a way that minimizes time-consuming bottlenecks • Turning abstract goals into concrete operational activities • Keeping on track and correcting rapidly deviations • Communicating the vision of the entrepreneur to others, enhancing the pace for action

  6. 2. Personal traits of the Entrepreneur & the Team Some of them: • Need for achievement • Risk-taking • Innovativeness & Creativity • Autonomy • Locus of Control • Self-efficacy & personal initiative • "Teams outperform individuals, especially when performance requires multiple skills, judgments, and experiences" • Jon R. Katzenbach

  7. 3. Networking • External ties help to: • Discover and seize new opportunities • Access resources easier and cheaper • Gain legitimacy & improve performance • Raise financial support • Access high quality information • "Use a good accountant or book- keeper, and a good lawyer, and listen to their advice. Get help in those areas in which you aren't familiar" • Vaggelis

  8. 4. Solid Marketing Strategy • It can be achieved by: • Analyzing the Market & the Competition • Choosing your target market • Determining the 4 Ps • Product • Price • Place • Promotion • "If you don’t know what the customer benefit is, the whole thing’s a waste of time" • Branco Weiss Entrepreneur

  9. 5. Pivoting • Rapid shifting permits to: • Observe if something isn't working (customer discovery) • Orient yourself to the new facts • Decide what part needs to change • Act decisively and reconfigure • Operating in CHAOS + SPEED + PIVOTS= SUCCESS • "The hardest thing to see is what is in front of your eyes" • Goethe

  10. 6. Seed Capital • Last but not least. • Raise as much capital as you can, in order to: • launch and run your business successfully • be able to meet your current and future liabilities • Tip to remember: • Your financial plan is a only a collection of assumptions and fractions of the funds required. Do not hesitate to ask for more. • "What kind of numbers do we like to see? The more mature a business is, the more we rely on numbers. For a newer business, the numbers matter less and the words matter more" • Robert Mahoney, Investment banker

  11. Conclusion • Feasibility for startups is more a prediction, determined by several uncertain factors, rather than a solid proposition. It demands serious preparation before taking action, in an environment of extreme uncertainty. The viability of a new venture depends not only on the sufficient capital that has been raised, but mostly to these 5 other prerequisites that are the heart and the body of the new business. • "There is nothing in the world as powerful, as an idea whose time has come" Victor Hugo

  12. Q+A + thank u. vergospan@gmail.com facebook.com/studenthousegr twitter.com/studenthousegr "It’s a funny thing about life; if you refuse to accept anything but the best, you very often get it" Somerset Maugham

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