The business plan is dead

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!

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The business plan is dead

by BizXe on Mar 01, 2012

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