TiE Institute Workshop- Ideas to Business

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This workshop was aimed at budding and existing entrepreneurs who :
- Have an idea and want to evaluate it and take the next steps in building their business
- Entrepreneurs who have already set up a business and but are finding it difficult to gain traction

Take aways from the workshop:

- Gain an introduction to formal tools and techniques (the core focus will be on the “9 Grid Business Canvas”) that can be used to help you define and evaluate your business idea
- Understanding how to use these tools as a foundation to build your business plan on

Workshop Agenda:

• The “softer” aspects of converting your idea into a business
• The use of tools (such as SWOT and the Positioning Grid) to help position your offering
• An introduction to the 9 Grid Business Canvas; explanation of the BC using a real-life example
• Moving to a business plan
• Execution

Facilitated by Mr. Anilesh Seth

Published in: Business, Technology
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TiE Institute Workshop- Ideas to Business

  1. 1. From Ideas to Business May 14, 2014 Anilesh Seth Co Founder & CEO, KROW (www.krow.in) Partner, ANSR Consulting (www.ansrconsulting.com) www.slideshare.net/anilesh http://In.linkedin.com/in/anileshseth anilesh@krow.in anilesh.seth@ansrconsulting.com
  2. 2. From ideas to business • The softer aspects of converting your idea into a business • The use of tools to help position your offering • An introduction to the 9 Grid Business Canvas • Moving to a business plan • Execution Note several slides on the BMC taken from http://www.slideshare.net/malayeri/introduction-to-business-model-canvas?qid=ce4d6e96-f236-42b7-bf7c-8ab86d761662&v=qf1&b=&from_search=1
  3. 3. Where does reality lie?
  4. 4. Where does reality lie?
  5. 5. The softer (or “harder”) aspects of a startup • Its about your conviction • Its about seriously hassling your family • Its about aiming for the moon and landing up on Pluto • Its about perseverance • Its about getting the right team….and making it work with them • Its NOT about “I’ll do this till I get a job” • Its about getting it wrong till you get it right (Notice, I didn’t talk about “Money”)
  6. 6. Examples of start ups that have modified their direction Name of company More info Changes makemytrip http://en.wikipedia.org/wiki/Makemytrip #History_and_Growth Founded in 2000 it started by providing air travel options for the US-India corridor for Indians. Today it provides additionally holiday solutions and is a big player in India redbus Brick and mortar outlets. paypal http://chargify.com/blog/6-companies- that-succeeded-by-changing-their- business-model/ Cryptography company to means of transmitting money via PDAs to online payment system YouTube http://mashable.com/2011/07/08/startup s-change-direction/ Started as a dating site called "Tune In Hook Up,“ & morphed to simply sharing videos online MingleBox http://www.nextbigwhat.com/indian- startups-that-pivoted-successfully-297/ Started as a social network & transformed into an educational content company Flipkart http://www.nextbigwhat.com/indian- startups-that-pivoted-successfully-297/ Moved from selling books to everything
  7. 7. Some really stupid stuff…. • “I don’t need a mentor” • “Its just about building a website…and then watch the magic happen” • “I know they do it too, but I am different because……” • “You should see my powerpoint deck, its awesome” • “We have a terrific product” • “Marketing is simple…..we just need to build a Facebook page”
  8. 8. So what are the building blocks of successful startups? Target segment (WHO) Product/Service (WHAT) Addresses a need or a problem “better” than others TEAM ATTITUDE
  9. 9. Some tools of the trade: the SWOT analysis STRENGTHS - Your proposed features/differentiation - Your agility - Your team WEAKNESSES - Financial - Lack of a key skill set : eg Digital Marketing OPPORTUNITIES - Spaces/markets/segments not occupied by your competition - Size of market/no of players - Market growth THREATS - Competition - New government regulations? INWARDFACINGOUTWARDFACING
  10. 10. The product position map High BHP High Price Low Price Low BHP A B C D Example: Motorcycles……or motorized two-wheelers…….only males or females also? AGE GROUP? The axes you use will depend upon: - What need you are addressing for what segment?
  11. 11. The Business Model Canvas A Business Model for a company is all about creating value for itself while delivering a product or service to its customers. The BMC was originally proposed by Alex Osterwalder
  12. 12. The Business Model Canvas 1/22/1 3/4 4/3 5 6 7 8 9
  13. 13. Value Proposition It is not about your idea or product It is about solving a NEED or PROBLEM It is about SATISFYING a customer need (and defining WHO are your customers are)
  14. 14. Customer Segments WHO are they? Types of customers? For whom are we solving the problem and creating value? Who are our most important customers? WHY would they buy?
  15. 15. Channels Through which channels do our customer segments want to be reached? Offline: Events Online: Social Media Which ones are most cost effective?
  16. 16. Customer Relationships How do you GET, KEEP, GROW your customers?
  17. 17. Revenue Streams How do you make money from each customer segment? What value is the customer paying for? Revenue Models are the strategy Pricing is the tactics
  18. 18. Key Resources What are the most important assets to make your Business Model work?
  19. 19. Key Partners Who are the key partners and suppliers to make your business model work? What key resources are we acquiring from them? What key activities do they perform?
  20. 20. Key Activities What are the most important things you should DO to make the businessmodel work? Production? Problem Solving? Supply Chain Management?
  21. 21. Costs What are the costs to operate the business model? • What are the most important costs? • What are the most expensive costs? • What key activities are most expensive? • Fixed cost / Variable cost?
  22. 22. Case Study - Flipkart Flipkart is an Indian e-commerce company founded in 2007, by Sachin and Binny Bansal
  23. 23. Key Partners Key Activities Key Resources Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Convenience Wide Selection Cheaper Trust (COD)
  24. 24. Key Partners Key Activities Key Resources Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Urban Indian Book Lovers Internet connected people with no credit cards First time online shoppers Convenience Wide Selection Cheaper Trust (COD)
  25. 25. Key Partners Key Activities Key Resources Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Urban Indian Book Lovers Internet connected People with no credit cards First time online shoppers Web Convenience Wide Selection Cheaper Trust (COD)
  26. 26. Key Partners Key Activities Key Resources Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Email Online Chat Urban Indian Book Lovers Internet connected People with no credit cards First time online shoppers Web Convenience Wide Selection Cheaper Trust (COD)
  27. 27. Key Partners Key Activities Key Resources Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Email Online Chat Urban Indian Book Lovers Internet connected People with no credit cards First time online shoppers Web Convenience Wide Selection Cheaper Trust (COD) Book sales
  28. 28. Key Partners Key Activities Delivery Staff Technology Capability urces Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Email Online Chat Urban Indian Book Lovers Internet connected People with no credit cards First time online shoppers Web Convenience Wide Selection Cheaper Trust (COD) Book sales
  29. 29. Key Partners Key Activities Delivery Staff Technology Capability urces Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Email Online Chat Urban Indian Book Lovers Internet connected People with no credit cards First time online shoppers Web Convenience Wide Selection Cheaper Trust (COD) Book sales Publishers
  30. 30. Key Partners Key Activities Delivery Staff Technology Capability urces Value Proposition Customer Relationships Channels Customer Segments Revenue StreamsCost Structure Email Online Chat Urban Indian Book Lovers Internet connected People with no credit cards First time online shoppers Web Convenience Wide Selection Cheaper Trust (COD) Book sales Publishers Supply Chain Optimization Delivery Optimization SEO Auto Recos Technology, Warehouse, Deep Discounts
  31. 31. Moving to a business plan • Pick the key building blocks of what you need to do: • People, capability, relationships/partnerships, working capital etc • Prepare a detailed short term plan (for me, 12 months works well) and a high level future one • Build the plan keeping in mind that hopefully sooner rather than later you need to build one for prospective investors (See example)
  32. 32. Execution • Focus on cash flows and chasing milestones/metrics • Remember that Rome wasn’t build in a day. Focus on key foundational pieces and build it up • Review every piece ofb feedback that you get from customers: need to decide if it’s a trend or a one off….. • Get into a daily huddle…. • Identify and address any team issues right up front. Not doing so can be the root cause for failure
  33. 33. Thank you!

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