Introducing start mybusiness123 2011 09 05


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Introducing start mybusiness123 2011 09 05

  1. 1. Introducing <br />VIEW<br />© Prof. János Vecsenyi 2011.<br />
  2. 2. I have a seemingly great business idea, but I am not sure about it. I would like to check it out before I launch my new venture. <br />I am already running my small business. It would be great to know why it is not successful enough. I want to find the key to success.<br />A number of wannapreneurs would like to get seed money from our venture capital firm, but they do not know exactly for what and why. I would like to offer them some help to think their business idea through and come to us with a well defined and tested concept. <br />Being a consultant, I am regularly approached by a number of new entrepreneurs needing my help to get their basic questions answered. I would appreciate a professional toolkit to make my job easier.<br />2<br />© Prof. János Vecsenyi 2011.<br />
  3. 3. I am JánosVecsenyi, professor of the Entrepreneurship of Small Business Development Center at Corvinus University, Budapest.<br />3<br />© Prof. János Vecsenyi 2011.<br /><ul><li>Founded my first consulting firm in 1995, worked for GE for 15 years, consulted start-ups, small and big companies
  4. 4. Harvard alumni from the Entrepreneurship teaching program
  5. 5. Lectured at Tulsa Univerity (USA), INSEAD (France), University of Economics and Technical University (Budapest)
  6. 6. Recently published ‘Starting and Managing New Ventures’
  7. 7. Launched VJV Consulting to develop and distribute StartMyBusiness </li></ul>A team of entrepreneurs, venture capitalists, other professionals and I spent much time to develop the StartMyBusiness123 program to facilitate the successful start of new businesses for future entrepreneurs.<br />
  8. 8. Starting a new venture<br />Exciting adventure<br />Conscious preparation<br />Making a dream come true<br />Getting to know the business world<br />A journey to independence<br />Business, profession, management<br />© Prof. János Vecsenyi 2011.<br />4<br />
  9. 9. Starting a new venture<br />The big fit<br />Market need<br />Customer<br />Product / sevice<br />Seller<br />© Prof. János Vecsenyi 2011.<br />5<br />
  10. 10. Starting a new venture<br />Business model<br />Buyer<br />Advertizer<br />INCOME? <br />Provider<br />Tenant<br />© Prof. János Vecsenyi 2011.<br />6<br />
  11. 11. Starting a new venture<br />Operation and management<br />© Prof. János Vecsenyi 2011.<br />7<br />© Prof. János Vecsenyi 2011.<br />7<br />
  12. 12. Starting a new venture<br />You<br />Your team<br />Your network<br />© Prof. János Vecsenyi 2011.<br />8<br />
  13. 13. Starting a new venture<br />3 steps<br />1)Define<br />2)Test<br />3)Act<br />Define what business you want to start or run.<br />Test viability and develop your business.<br />Act to solve strategic issues and decide on starting.<br />© Prof. János Vecsenyi 2011.<br />9<br />
  14. 14. 1)Define<br /><ul><li>Who will be your customers, what are their needs and why?
  15. 15. What product/service do you want to sell at what price?
  16. 16. Where will your income come from directly or indirectly?
  17. 17. How will your business operate?
  18. 18. How much money will your business make?
  19. 19. How much money do you need to launch your business?
  20. 20. Who will be your partners? </li></ul>Foundation for start-up<br />Based on your great idea you need to define a business concept to succeed.<br />The business concept will define what kind of you want to start.<br />BUSINESS CONCEPT<br />10<br />© Prof. János Vecsenyi 2011.<br />
  21. 21. 1) Define<br />The need<br />The value proposition<br />The business model<br />The operational model<br />The financials and investment needs<br />The entrepreneur and the team<br />© Prof. János Vecsenyi 2011.<br />11<br />
  22. 22. 2) Test<br />Do you want to know how viable your business is?<br />Test against five criteria:<br />Marketabilityshows whether your product/service can generate real paying customers.<br />Competitiveness tells you how strong your position is among your competitors based on your special offer.<br />Feasibility will focus on the operation of your business; whether the business can deliver on its promise.<br />Profitability tests whether the business can really generate profit.<br />Personal fitness reflects on your willingness and capabilities, which are prerequisites for a successful start-up. <br />© Prof. János Vecsenyi 2011.<br />12<br />
  23. 23. 2) Test<br />Developing the business based on viability testing<br />© Prof. János Vecsenyi 2011.<br />13<br />
  24. 24. 3) Act<br />Identifying strategic issues and solutions<br />Creating action plan to solve strategic issues<br />Decision on starting and execution<br />© Prof. János Vecsenyi 2011.<br />14<br />VállalkozásIndító™ © dr. Vecsenyi János 2011<br />
  25. 25. 3) Act<br />Start-up Action Plan<br />Viable Business Concept<br />Elevator Pitch<br />DECISION starting, postponing or stopping the venture<br />What<br />When<br />Who<br />OUTPUT<br />Strategic issues and action plan for starting<br />© Prof. János Vecsenyi 2011.<br />15<br />
  26. 26. The framework <br />DECISION starting, postponing or stopping the venture<br />Strategic issues and action plan for starting<br />What<br />When<br />Who<br />STRENGTHENING STRENGTHS<br />MANAGING RISKS<br />SUCCESS FACTORS<br />RISK <br />FACTORS<br />BUSINESS CONCEPT<br />© Prof. János Vecsenyi 2011.<br />16<br />VállalkozásIndító™ © dr. Vecsenyi János 2011<br />
  27. 27. Built-in support<br />Examples, best practices<br />Pro tips for risk management<br />Calculation engine<br />.<br />© Prof. János Vecsenyi 2011.<br />17<br />
  28. 28. From the idea to the launch<br />Viable Business Concept<br />Elevator Pitch<br />Start-up Action Plan<br />Execution<br />Concise <br />BUSINESS PLAN<br />For<br />Start-Ups<br />© Prof. János Vecsenyi 2011.<br />18<br />
  29. 29. What else can we tell you about StartMyBusiness123?<br />If you’d like to learn more, drop us an e-mail: <br /><br />Many of the questions we’ve received are answered on our FAQpage.<br />© Prof. János Vecsenyi 2011.<br />19<br />
  30. 30. A smart journey toa start!<br />20<br />© Prof. János Vecsenyi 2011.<br />