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The business plan is dead
 

The business plan is dead

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Long live the business model. What Is The Difference Between a Business Plan And a Business Model? Business plans are static and based on unknowns. A business model describes the rationale of how an ...

Long live the business model. What Is The Difference Between a Business Plan And a Business Model? Business plans are static and based on unknowns. A business model describes the rationale of how an organization creates, delivers, and captures value

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    The business plan is dead The business plan is dead Presentation Transcript

    • The Business Plan is Dead Long Live the Business Model!
    • Entrepreneurs competing for the StartUp Cup will be rewarded for . . .
    • Building A Viable Business Model
    • Testing Business Model Assumptions by Going to Market With Your Product and/or Service
    • Securing Customers Who Are Willing To Pay For Your Product and/or Service
    • Generating Revenue
    • Being Coachable
    • Never, Ever Giving Up!
    • What Is The Difference Between a Business Plan And a Business Model?
    • Business Plan = Static The Business Plan is Dead  A well written plan that projects an unknown future with detailed graphs and pretty pictures, generally, focused on raising money  Typically not connected to reality of current market conditions
    • Business Model = Dynamic Long Live the Business Model!  Supports Going to Market Quickly & Testing Assumptions  Securing Customers & Generating Revenue as Quickly as Possible
    • Your goal as an entrepreneur with a new business concept is to identify a business model, test assumptions, secure customers, and evolve your model as you grow revenue and market share.
    • What used to take year’ s now takes months
    • What took lots of money now takes less Ask yourself how little money do I need to get my company off-the ground? What is the quickest path to generating revenue?
    • Business Model Defined: A business model describes the rationale of how an organization creates, delivers, and captures value
    • Utilize The Business Model Scorecard. Self-Guided Visual Thinking Tool Specifically Designed to Accelerate StartUp Business Model Design
    • Step I: What Value Are You Providing? How Are You Different? What Need Are You Filling?
    • Step II : Designing Your Core
      • Customer
      • Who is your target customer
      • Everyone is not your customer
      • Why will they buy your offering?
      • Product/Service
      • What are you selling?
      • Be specific
      • Market
      • How big is your market?
      • What is the growth potential?
      • Vehicle/Channel
      • How are you going to get your product or service to your customer?
    • Step III : Understanding Your Financials
      • Revenue
      • How will you generate revenue?
      • How many revenue streams are there?
      • Expenses
      • What will you spend money on?
      • Phone, travel, legal, tech, design, etc.
      • Resources
      • What connections can you leverage?
      • What resources do you need?
    • Step IV : Building Your Team
      • Team
      • What talents and skills do you require?
      • Legal, designer, developer, marketing?
      • Promotion
      • Getting your message and story out?
      • Internet, events, direct marketing?
      • Sales
      • How are you going to close the deal?
      • How will you turn potential into sales?
      • Funding
      • How are you funding your StartUp?
      • Friends, family, fools, credit cards?
    • Step V : Action and Testing Stop Talking, Start Doing!
    • Engage The Judges and Coaches
    • Build Your Team and Collect Talent
    • What Are You Waiting For? Start Designing Your Business Model Today! Stop Talking! Start Doing!