The business plan is dead
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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 View slide
  • Testing Business Model Assumptions by Going to Market With Your Product and/or Service View slide
  • 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!