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INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
INJAZ Al-Arab Startups booklet
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INJAZ Al-Arab Startups booklet

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  • 1. Startup ProgramThe Young Entrepreneur Booklet
  • 2. Acknowledgments Consultants INJAZ Al-Arab expresses its gratitude to the consultants for their contributions to the development of INJAZ Al-Arab Startups Program. Their expertise in entrepreneurship, startups, business, curriculum development and pedagogy has significantly enhanced the quality of this program. • Khaled Sadeddin, Entrepreneurship and Business Management Consultant. • Maher Kaddoura, Founder and General Manager, Meydan Business Incubator. • Ayman Basheer, Startups Business Consultant.3
  • 3. 4
  • 4. Contents Program Overview P6 Startups Quick Guide P8 Startup Check List P 10 Website Registration P 14 Your Access Code P 16 Start The Application P 18 The Three Critical Parts Of The Application P 20 Application Submission P 22 The Complete Business Plan P 24 The One Hour Interview P 26 A Matching Event P 28 Booth Setup P 30 Elevator Pitch P 32 Incubator Agreement P 34 Mentors P 36 Seed Funding P 38 Company Registration P 40 Your Bank Account P 42 Accounting Firm P 445
  • 5. Bookkeeping And Auditing P 46The Incubation P 50Business Model, Financial Model, Business Plan, … P 52Your Learning P 54Incubation Sessions P 56Angel Investor P 58Execution P 60Achieving Sustainability And Profitability P 64Office Renting P 66Sustainability And Growth P 68ToolsTool # 2 : Executive Summary Template P 72Tool # 6 : Business Plan Tool Guide P 78Tool # 14 : Startup Stages P 88Websites P 90 6
  • 6. Program Overview Objective The program aims to give carefully selected “companies” the chance to establish real business entities and operate them into profitability as going concerns. Those selected companies would be provided with seed funding, physical incubation by sponsoring businesses, and mentoring services provided by the incubators’ staff. How does it work? In collaboration with various corporate incubators across the Arab World and a funding entity, the new program aims to bridge that gap in seed funding, eco-system support, and mentorship and offer the graduates of those programs a new path leading them to set up profitable small businesses with the potential of growth. Who Would Benefit? Short Tem Targets Companies that went through the JABE and Company Program are encouraged to apply and set up growth focused, for profit business entities that are going concerns. Long Term Targets Any startup company in Arab countries where INJAZ operate can benefit from this program. A slightly different path is set for them where such companies have to meet rigorous criteria before being admitted into the program.7
  • 7. The Process• INJAZ graduates: a. Apply to the program online b. Application is subjected to a set of selection criteria c. Once approved, the application is directed to the local INJAZ office/country where the company operates or intend to operate in d. Corporate incubation is offered through a match making process, where the incubator chooses the company it wants to incubate based on its own evaluation of the services and support it can offer the incubated company i. The company is physically incubated for six months and after six months they graduate from the program and have to be market ready and able to self-sustain through profitable operations or second round of Angel investment or Venture Capital Investment. e. Each incubator assigns a principal mentor i. The mentor ensures adequate support to the incubated company through direct interaction with him/herself and other mentors in the incubator or through mentor networking activities (where the company is matched with business mentors from other companies). f. Seed funding from INJAZ (which controls the funding process) is offered based on a submitted budget (with maximum funding of $ 15,000 USD). i. The budget is linked to certain milestones and the assigned mentor from the incubator is entrusted with monitoring the expenditures of the incubated company. ii. Expenses are monitored by the accounting entity who sign off on the account in collaboration with the incubated company 8
  • 8. Startups Quick Guide 1. Refer to your Startup Check List 2. Read Orientation to Startups to understand the stages that each startup goes through, the driving issues of each stage, and the deliverables/must have of each stage (Refer to Tool # 14, Orientation For Startups) 3. Read the What is a Business Model 4. Design your own business canvas 5. Refer to Business Modeling Guidelines Plus Examples for detailed explanation on business modeling and to see many examples of business models 6. Once you finish your Business Model Canvas, start working on your Financial Model 7. Read and closely examine the Financial Model Explained 8. Use the One Page Financial Model to build your own business model 9. Study the 10 Weeks Work Plan Explained carefully 10. Use the 10 Week Work Plan Template to develop your own work plan or action plan 11. Refer to the marketing and sales material and develop your own One Page Marketing Plan 12. Refer to the pitching folder and use the template as guidelines and develop your own Ten Minutes Pitch (the template is a guideline to help you develop your own pitch) 13. Once you launch your business, update your business plan to reflect realities of the market (including real sales versus projections, real costs versus projections, challenges in marketing and sales, etc.)9
  • 9. 10
  • 10. Startup Checklist 6 5 4 3 2 1 7 One Hour Interview Submit your Submit Finish the Start the Receive the Go to our complete application three critical application access code website and 8 business plan before parts of the to the tools register deadline application and the applicationA matching processevent 9 10 11 12 13 14 15 Set up a booth Give your two sign an Get mentors Seed Register your Open a bank minute agreement funding company account elevator pitch with a on stage particular incubator 11
  • 11. 26 25 G R O W ! 24 Sustainable and Now you Rent an profitable business should have office within 6-months a self- 23 sustaining business Start executing you work plan16 17 18 19 20 21 22 Prepare yourself for the angel investor Hire an Bookkeeping 6 months of Develop you Guide your Use the Three accounting And Auditing incubation business learning Types of firm model, interaction financial Sessions model, work plan, … 12
  • 12. We’re calling you for action!13
  • 13. Respond to call to action in the INJAZ marketing campaign. 14
  • 14. 1 Go to website and register for the startup program15
  • 15. 16
  • 16. 2 Receive the access code to the tools and the application process17
  • 17. 18
  • 18. 3 Start the application19
  • 19. 20
  • 20. 4 Finish the three critical parts of the application21
  • 21. You need to develop the following parts:1. Business Plan (use the business plan template provided in the tools section of the website, Refer to Tool # 6, Business Plan Template).2. Executive Summary (Refer to Tool # 2, Executive Summary Template).3. Two Minute Elevator Pitch: i. Make a video of the elevator pitch. ii. Upload the video to YouTube. iii. Attach the YouTube link to your application. 22
  • 22. 5 Submit application before deadline including all the part on the next page. If you passed this stage, you will be asked to submit your complete business plan.23
  • 23. Develop the following to send with the application:1. Initial application (Refer to Tool #13, Startup Program Application Form).2. The Executive Summary (Refer to Tool #2, Executive Summary Template).3. A YouTube video of the Two Minute Elevator Pitch 24
  • 24. 6 Go to website and submit your complete business plan.25
  • 25. 26
  • 26. 7 If your business plan meets all the criteria you will be asked for a one hour interview.27
  • 27. 28
  • 28. 8 If you are selected (after the interview), you will be asked to participate in a matching event where you will meet potential investors, incubators, and mentors.29
  • 29. 30
  • 30. 9 You will need to set up a booth and have your product demo/literature, company literature, and copies of your business plans ready for investors, mentors, and incubators31
  • 31. 32
  • 32. 10 You will be invited to give your two minute elevator pitch on stage and then retire to your booth where you will be expected to answer questions regarding your business and your business plan33
  • 33. 34
  • 34. 11 If an incubator selects you then you will be asked to sign an agreement with that particular incubator where you will be incubated in their premises for six months. (Refer to Tool #10, Sample MOU Agreement)35
  • 35. 36
  • 36. 12 You can also get mentors from the incubator and outside the incubator and you have to ask for their mentorship and solicit their advice at least once a week for two hours per week37
  • 37. 38
  • 38. 13 Seed funding would be provided by INJAZ and you will have to register a company to be eligible for the funding39
  • 39. 40
  • 40. 14 Once you register a company, the check for the company registration will be issued by the INJAZ office in your country41
  • 41. 42
  • 42. 15 Open a bank account.43
  • 43. 44
  • 44. 16 Upon company registration, you will be asked to hire an accounting firm that will monitor your financial activities and be a cosigner on all of your monthly expenses.45
  • 45. 46
  • 46. 17 Make sure you keep all of your expense receipts and submit to the accounting firm on a monthly basis47
  • 47. 48
  • 48. Congratulations!49 A new startup was just born.
  • 49. Congratulations, at this point you are officially a Startup. 50
  • 50. 18 You have 6 months of incubation51
  • 51. 52
  • 52. 19 With the help of your mentors, you need to develop all the points on the next page.53
  • 53. Develop and do the following:1. Business model.2. Financial model.3. Work plan.4. Marketing and sales plan.5. Pitching presentation for angel investors.6. Your budget for a year of operation.7. Continuously work on your business plan. 54
  • 54. 20 Use the available resources available on the website to guide your learning.55
  • 55. Use these resources:1. Use the references, resources, and tools designated for the startups on the website (those tools should help you design your business model, financial model, work plan, pitching to investors, sales and marketing, and your business plan).2. The incubator offering is a suggested list of topics you need to be aware of and study. 56
  • 56. 21 You should also use the Three Types of Interaction Sessions (available in your folder) to engage your mentor on a weekly basis.57
  • 57. 58
  • 58. 22 Prepare yourself for the angel investor by always updating your business plan to reflect your progress.59
  • 59. 60
  • 60. 23 Start executing you work plan and develop monthly milestones to achieve.61
  • 61. 62
  • 62. Involve your folks.63
  • 63. Involve your incubator and your mentor(s) in your progress anddiscuss your progress with them. 64
  • 64. 24 You should be a sustainable and profitable business by the end of the six month incubation cycle.65
  • 65. 66
  • 66. 25 Once your six month incubation is over, you have to rent an office and leave the incubator premises.67
  • 67. 68
  • 68. 26 At this point you should have a self-sustaining business with revenues, expenses, and profits as well as a full team working fully on the business.69
  • 69. 70
  • 70. Tool # 2 : Executive Summary Template Company Name and Logo Company Snapshot Year Founded: The Grab – This section is probably the most important part of your entire executive summary. In Industry: two or three sentences tell the reader why your business is special. Maybe you have Michael Jordan as Annual Sales: a customer and he has promoted your product on twitter for free. Maybe you just signed a partnership Growth Rate: with Google. Maybe you were just awarded a patent, or maybe you just made your first big sale. Whatever Investment Requested: it is ask yourself “so what” if it sounds reasonable to say so what then you didnt do a good enough job. Obviously if you just signed a partnership agreement with Google no one would say “so what” so grab their attention.71
  • 71. Big Problem – The first ingredient of a good business idea is a Big Problem, so explainthe Big Problem that your product addresses. For instance, there is too much traffic inChicago and everyone hates traffic. Everyone in the room should be saying “yeah I hatethat”.Unique Solution – The big problem is the easy part. Now you have to convince thereader that you have come up with a unique solution to the big problem. If you havethese two ingredients you have a good business side. Maybe you developed a newtraffic control system that will save 1 minute for every person in Chicago each day duringtheir commute. 1 minute each day is valuable when you are talking about a couplemillion people. 72
  • 72. Tool # 2 : Executive Summary Template (Cont.) Market Potential – Elaborate on the big problem, by providing stats for your industry. How much is spent annually on similar products or services and how fast is it growing. Maybe you operate an in home healthcare service company and with all of the Baby Boomers getting older and sicker each day you have a very large market potential with a rapidly growing market. Unique Selling Proposition – This is where you elaborate on your unique solution. What specifically gives your product or service an advantage over the competition? Maybe your home health care service actually sends Doctors to the home instead of just nurse practitioners. Or maybe you guarantee same day visits so that you dont have to schedule ahead of time. Just point out why you are special.73
  • 73. Management Team – Depending on what industry you are in this can be the mostimportant parts of your executive summary or one of the least important parts.Regardless your investors or bankers are putting trust in the team not the idea. Ideas areeasy to come by, but executing on those ideas can only be accomplished through astrong team. Quickly show why your team has the experience and know-how to executeyour business plan.Business Model – In this section it is vitally important that you communicate clearlyand concisely how you are going to make money. Not only how are you going to createsales revenue, but how will your sales be profitable. Often times the best way to do thisis by using a diagram. Maybe something like the diagram shown to the right. Yes that issimple, but at least it gives readers an understanding of how you think you will makemoney and then hopefully the rest of the Executive Summary convinces them that youcan make that business model successful. 74
  • 74. Tool # 2 : Executive Summary Template (Cont.) Financial Projections - Based on your market, your business model and, your historical performance you need to develop a bottom up financial forecast. If your plan is for a group of investors dont spend too much time on this section because you know and they know that you really have no idea how much money you might make. Investors typically wont make a go / no go decision based on your financial projections. They will essentially make their own financial projections. That being said you should have some sort of graph or table with current sales and projected sales going forward for at least 3 years.75
  • 75. Request – Now it is time to request either an investment, loan, or sales contractdepending on the purpose of the executive summary. You should restate why yourcompany provides value. Remind the reader of the big pain that you are solving andyour market potential. Finally reemphasize your team and its ability to get the job done.Ask for the dollar amount that you need to reach the next major milestone for yourbusiness. Dont disclose how much equity you are willing to give up or what interest rateyou are willing to pay. This should be done later through face to face negotiation. 76
  • 76. Tool # 6 : Business Plan Tool Guide 1. You already have a business plan which you submitted to the Startup Program. 2. There is no universal business plan template. 3. Some business plans are better than others. 4. The one you are provided with is a good business plan template. 5. You can continue to use your initial business plan and make amendments as you go along. 6. Check the business plan template and see if your initial business plan is missing any components. 7. Always write the executive summary last after you finish writing the entire business plan.77
  • 77. 8. The executive summary should not exceed 2-3 pages and it should summarize all aspects of the business plan.9. Follow the template and finish each section accordingly.10. Each section include a description and instructions on how to fill it up.11. Check the progress of the business plan with your mentor and make sure to review each section with him/her and get their feedback.12. Once finished, make sure you read the entire business plan and then start writing the executive summary.13. Ensure that your mentor reads the entire business plan and give you more feed back.14. You are strongly encouraged to ask other entrepreneurs and business professional read your business plan and give you feedback. 78
  • 78. Tool # 6 : Business Plan Tool Guide (Cont.) If the executive summary doesn’t succeed, your business plan will never sell investors. We recommend that you write the summary first and use it as a template for the plan as a whole. Since one of its primary functions is to capture the investor’s attention, the summary should be no longer than two pages. The shorter the better. Mission Our companys mission is to [describe your ultimate goal, or insert your mission statement]. Company [The Company] was founded in [date] and [describe what your business does, such as baby products manufacturer, distributor of pencils, provider of medical services]. It is a [legal form of your company, such as BV, Partnership, Proprietorship]. Our principal offices are located at [x].79
  • 79. BusinessWe make [describe product, or service that you make or provide].Our company is at the [seed, start-up, growth] stage of business, having just[developed our first product, hired our first salesman, booked our first nationalorder].In the most recent [period], our company achieved sales of [x], and showed a[profit, loss, break-even]. With the financing contemplated herein, our companyexpected to achieve [x] in sales and [x] in pretax profits in 20[xx] and achieve [x]in sales and [x] in pretax profits in 20[xx+1]. We can achieve this because thefunds will allow us to [describe what you will do with the funds, such as a)marketing for your new product, b) build or expand facilities to meet increaseddemand, c) add retail locations or others means of distribution, d) increaseresearch and development for new products or to improve existing ones. 80
  • 80. Tool # 6 : Business Plan Tool Guide (Cont.) Product or Service Tell us about your product or service in terms we can understand. [The company] produces the following products; [list products here briefly, in order of highest sales or significance in product line]. Alternatively, [The company] delivers the following services; [list services here briefly, in order of highest sales or significance in product line]. Presently, our [product or service] is in the [introductory, growth, maturity] stage. We plan to follow this [product or service] with extensions to our line which include [x,y,and z]. Critical factors in the [production of our product, or delivery of our service are [x, and y]. Our [product or service] is unique because [x,y,or z] and/or we have an advantage in the marketplace because of our [patent, speed to market, brand name].81
  • 81. The MarketWe define our market as [manufacture and sale of writing and drawinginstruments, low fat cheese, oral care products]. This market was approximately[€x] at [wholesale or retail] last [period available], according to [site resource],and is expected to grow to [€x] by the year [x], according to [site resource].Who are your customers? Where are they, and how do you reach them? Are theybuying your product / service from someone else?How will you educate customers to buy from you? Why will they care?CompetitionWe compete directly with [name competition]. or We have no directcompetition, but there are alternatives to our [product or service] in themarketplace. Our [product or service] is unique because of [x] and/or we have acompetitive advantage because of our [speed to market, established brandname, low cost producer status]. 82
  • 82. Tool # 6 : Business Plan Tool Guide (Cont.) Risk/Opportunity The greatest risks we have in our business today are [market risk, pricing risk, product risk, management risk]. We feel we can overcome these risks because of [x]. The opportunities before us are significant; we have the opportunity to [dominate a niche in the marketplace, become a major force in the industry] if we can [x]. Management Team Our team has the following members to achieve our plan. [x] men and women who have a combined [x] years of experience; [y] years in marketing, [y] years in product development, and [y] years in [other disciplines].83
  • 83. Capital RequirementsWe seek [€] of additional [equity, sub-debt, or senior financing] which will enableus to [describe why you need the funds, and why the opportunity is exciting]. Wecan provide and exit for this [loan, investment] within [x] years by [a dividend ofexcess profits, recapitalizations, sale of company, or public offering].Financial PlanAt this point the investor must have a clear idea of where your business standstoday. If you bore him or make the information he needs hard to find, you getcanned. You must provide a snapshot, however sparse, of your financial position. 84
  • 84. Tool # 6 : Business Plan Tool Guide (Cont.) Sales Summary At this point the investor must have a clear idea of where your business stands today. If you bore him or make the information he needs hard to find, you get canned. You must provide a snapshot, however sparse, of your financial position. Last Year | This Year | Next Year | Year Two Sales: Gross profit: Pre-tax:85
  • 85. Balance Sheet SummaryAssets:Liabilities:Book Value:In [x] years we will provide an exit, which we expect to be in the form of [sale toa competitor, initial public offering, distribution of profits] or perhaps [z]. Weexpect to be able to acheive this in [b months / years]. 86
  • 86. Tool # 14 : Startup Stages orientation for startups Startup Stages Stage Name Shape Explanation of Stage During this stage the concept of the company is developed starting from identifiying the company structure and its surrounding ecosystem extracting the value points in the business. After a clear & complete business model is developed, the blueprinting is conducted by developing high-level financial modeling and identifing needed core capabilities. This stage get finalized by packaging the whole project within 9-weeks work plan. What are the Driving Issues? * Whats our core value? What does make my business different? * Whatre my value chain activities and what goes under each in my case? * Whats the finacial aspect of my business? * How can I manage my activities during the build phase? What are the related ‘must haves’ deliverables? * Complete Business Model * Complete Financial Model * Fully identified core capabilities * Developed 10-weeks work plan. Build Explanation of Stage During this stage (with the concept reaching a ‘steady state’, the delivery of the concept complete and the necessary resources attained) the company needs to concentrate on delivering the productservice to its customers. What are the Driving Issues? * Is the Business Architecture scalable? * Can we meet planned performance targets with current capabilities? * Are processes, people and technologies fully integrated across all operating departments? * Is the leadership communicating to its staff? * How are outsourcers, partners, alliances performing in their roles? What are the related ‘must haves’ deliverables? * Staff Recruited * Fully tested product * Fully tested and scaleable capabilities (peopleprocesstechnology)87
  • 87. Launch Explanation of Stage In this stage you have a formal business structure and the necessary documents and tools in place to transact business. But if you are just established you may have little or no income, so cost containment is important because it defines the amount of runway you have to find customers. Consider short term income generation steps that will lead to your full vision. During this stage you may devote more time to product development and customer development. Key aspects of customer development and testing your market theory are insertion strategy, messaging plan, lead generation and pricing. The primary risk you face is not whether you can create a working technology but who will pay how much for it– and how to reach likely prospects. What are the Driving Issues? What value do we bring? How do we make money? How much do we charge? What are the related ‘must haves’ deliverables? We have something to sell. We have a business ownership structure. We are a team.Grow Explanation of Stage Now is the time to grow a sustainable business in additional niches and expand your customer base. Cash flow has become more stable and predicable. Product development should allow you to broaden your customer base and go after new customers. Customer development relied on more traditional marketing and sales specialists. Team needs to grow from a small set of generalists by adding a collection of specialists. The key challenge is a vision for growth and continued execution. What are the Driving Issues? We cannot do everything, how do we expand the team? We need to add specialists to our core set of generalists. How do we expand our customer base? What are the related ‘must haves’ deliverables? Sustainable business Growth vision Identify next niche 88
  • 88. Websites www.BusinessModelGeneration.com www.BusinessModelAlchemist.com www.MeydanJo.com/Academy www.investopedia.com tbmdb.blogspot.com89
  • 89. 90
  • 90. The Startups Bookletwww.INJAZAlArab.org

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