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    Module 1 Module 1 Presentation Transcript

    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. Ideation Bootcamp Start and Grow a Successful Company INTRODUCTION TO THE PROGRAM
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. PRSESENTATION 2
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. AND YOU? 3 • When did you arrive in this (city/country) ? • Education & experiences ? • Business idea you want to work on? • What do you expect from this program? • Something you really like?
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. 2. PROGRAM STRUCTURE STARTING A BUSINESS Module 1 The Business Proposal 1 Module 2 Computer Tools / Business Law 2 Module 3 The Business Plan Outline 3 Module 4 Marketing and Sales 4 Module 5 Planning Resources 5 Module 6 The Financial Plan 6
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. WHAT YOU WILL LEARN 5 • How to evaluate a business idea • Skills to develop to become a great business person • Structure and purpose of a business plan • Cultural aspects in business • The different business structures in Canada • Market study • Marketing tools and strategies • Operations strategies • Financial forecast • Financing tools and strategies • Presenting a business project successfully
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. EXERCISE 6 1. What are the qualities of a good business person? 2. What is the business project you are thinking about? 3. How do you feel about starting a business? 4. What informations should be present in a business plan? 5. What do you want to get from this program?
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. BUSINESS OPPORTUNITY
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. CONTENTS 1. Objectives for this class 2. Business Idea vs. Business Opportunity 3. Practical Opportunity Analysis 4. Sources of Business Ideas 8
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. 1. OBJECTIVES 9  Understand the difference between a business idea and a business opportunity Be able to evaluate the potential of a business idea Start developing a business thinking
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. 2. BUSINESS IDEA VS. BUSINESS OPPORTUNITY Business Idea Business Opportunity Any idea about a product or service that you could sell to someone or to a corporation… A business idea that has a potential of success (generating a significant profit) 10
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. 2. BUSINESS IDEA VS. BUSINESS OPPORTUNITY A BUSINESS OPPORTUNITY SHOULD: 11  Be new and different Fill an unsatisfied need Be attractive to consumers Have a long term perspective Be introduced in the market at a good timing Bring value to the consumer
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. 3. PRACTICAL OPPORTUNITY ANALYSIS Why do we need to use an analysis model? 12 Save time Save money Save energy Save face
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. 3. PRACTICAL OPPORTUNITY ANALYSIS ① Personal Profile ② The Product (or Service) ③ The Market ④ Profit Margin ⑤ Selling & Distribution ⑥ Competition 13
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. ① PERSONAL PROFILE a) What are you interested in? b) What are you good at (experience/education/skills)? c) Do you have contacts in a specific field? d) How much time are you available? e) How much money can you raise right now? f) What are your main reasons for starting a business? 14
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. ② THE PRODUCT (OR SERVICE) a) What is to be sold, exactly? Describe the product in terms of what it does for the customer. b) If it is a new product, is it ready to sell? c) Is the product legal in Canada? d) Would you buy it and use it yourself? e) How is the product to be manufactured or produced? f) How is the product going to be delivered to the customer? g) How is it going to be repaired, guaranteed or replaced? 15
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. ③ THE MARKET a) Who needs your product? b) How does the product improve your customer's life or work? c) Do you personally like the customers who'll be buying this product or service? d) How much people could buy your product? 16
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. ④ PROFIT MARGIN a) How much will the product cost you? b) How much could you sell it? c) Is there a real demand for the product at the price you'll have to charge? d) Is the demand large enough for you to make a significant profit? 17
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. ⑤ SELLING & DISTRIBUTION a) Is the demand concentrated enough so you can advertise, sell and deliver the product at a reasonable expense? b) Who's going to sell the product? c) How will potential customers hear about your product? 18
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. ⑥ COMPETITION a) Who else sell the same product? b) Are there any replacement products? c) Who is your competition? d) Is the competition making money? e) What are the three ways that your product is superior to your competition? 19
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. For a product or service to succeed, it must.. Be the right product, being sold at the right time, To the right customer, in the right market, Sold by the right company, and the right people 20
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. REVIEW ① Personal Profile ② The Product (or Service) ③ The Market ④ Profit Margin ⑤ Selling & Distribution ⑥ Competition 21
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. NEXT STEP… If you have satisfying answers to these questions business plan 22
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. 4. SOURCES OF BUSINESS IDEAS • Your knowledge in a particular field • Your friends • Magazines • Internet: • www.entrepreneur.com • www.springwise.com 23
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. NEED A BUSINESS MODEL? “A business model describes how your company creates, delivers and captures value” Or in English: “A business model describes how your company will make money”
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. TRADITIONAL START-UP MODEL Have an Idea Idea Validation Business plan Funding Launch Business Valley of Death- See if anyone will buy my product. Pre-Start
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.See Steve Blank, Four Steps to the Epiphany Attempts to Premature Scale is the No 1 reason that ambitious business start-ups fail.- Source Start-up Genome. New Start-up Model
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. Business Canvas Model PART 2 HTTP://YOUTU.BE/QOAOZMTLP5S?HD=1 WWW.BE.FOUNDERCENTRIC.COM
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. WHOSE THE CUSTOMER? 28
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. Cost structure Revenue streams Key resources Key activities Key partners Value proposition Costumer relationships Costumer segments Channels
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.PROFIT MODEL INFRASTRUCTURE CUSTOMERSOFFER
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. What is a target market? What are different strategies around customer acquisition and customer retention? What are pricing strategies? How do I maximize my revnues? What channel do you use to sell my products? What ressources I have? What partnership I can make? What activities should I focus on? How do I create value?
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. CUSTOMER SEGMENTS • Who are all the people and organizations for which you are creating value? • These can be both paying and non-paying customers.
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. VALUE PROPOSITION • Which customer needs are we satisfying? • What value do we deliver to the customer?
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. REVENUE STREAMS • To be in business, sooner or later someone has to pay you. Who is that? • Probably the person who actually benefits most from the product and it may not be the person using it!
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. KEY PARTNERSHIPS • Who can help you leverage your business model? • Who would be interested in your users?
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited.© Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. ASSIGNMENT • Choose a company and describe their value proposition is ? 36
    • © Business Ideation Group, 2014 Unauthorized use and/or duplication of this material is strictly prohibited. “IN LIFE A HYPOTHESIS THAT SOMETHING IS SUPERIOR TO SOMETHING ELSE CANNOT BE SCIENTIFICALLY PROVEN BUT IT CAN BE DEMONSTRATED” Robert Hughes.