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Planning for your business - workshop for Fleximoms - May 2012 - mdi


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Planning for your business - workshop for Fleximoms - May 2012 - mdi

  1. 1. Planning  for  your  business    Prajakt  Raut  President  –  Angel  Investors  Consor2um  Execu2ve  Director  –  The  Hatch    Visit  the  Virtual  Learning  Center  for  startups  at  
  2. 2. An  idea  is  not  a  business  A  business  has  to  be  constructed  around  an  idea  •  What  do  you  do  •  How  do  you  do  it  •  How  do  you  make  money    
  3. 3. A  business  plan  is  useless  product.  But  it  is  a  priceless  process.  Provides  a  structured  and  logical  framework  for  planning  your  business  Plans  means  nothing.  Planning  is  everything.    
  4. 4. Should  address  the  following  ques>ons   o  What  problem  or  opportunity    are  we  addressing?   The  market/Target  Audience   o  How  are  we  addressing  it?   Product  /  service   o  How  are  we  planning  to  do  it?   Organiza>on  &  Opera>ons  planning   o  Why  are  we  doing  it?   Business  case  :  measure  against  YOUR  goal     Create  wealth   Serve  the  poor/reduce  unemployment/make  people  happy   Do  what  I  enjoy   Etc.,  etc.  
  5. 5. A  business  plan  has  internal  as  well  as  external  uses  Internal uses External uses•  Understanding business case •  Funding•  Planning your business •  Alliances•  Provides parameters to evaluate and •  Board members / made adjustments advisors•  Monitoring progress •  Partnerships•  Ensures team alignment •  Mergers and acquisitions•  Help recruit senior personnel
  6. 6. What’s  the  process  of  working  on  a  business  plan?   o  Start  with  a  ‘story’  -­‐  ‘See  the  film  in  your  mind’     o  Work  out  rough  milestones  and  goals   o  Think  deeply  of  how  you  will  implement  it   o  Work  out  the  ‘structure’  of  an  excel  sheet  –  with  costs  and  revenues   o  Start  working  in  the  excel  sheet  –  assump>ons  are  cri>cal   o  Work  on  mul2ple  ‘scenarios’   o  Finally,  ar2culate  it  into  the  ‘presenta2ons’   It’s  a  liNle  bit  like  planning  a  journey  
  7. 7. Idea  Implementa>on  
  8. 8. Can  solve  a  problem  Fulfill  a  need  Improve  quality  of  life  Improve  something  
  9. 9. Examples  of  cheaper:  Lower  price  0r  accessible    to  more  people  e.g  .EMI?   Cheaper   Faster   BeNer   Fuller   Nicer   Nearer   Improve   something  
  10. 10. Product    Service  Value  Business  model  New  users  New  uses  
  11. 11. Having  a  good  idea  is  not  the  same  as  having  a  business  plan.  
  12. 12. SeVng  up  a  chain  of  coffee  shops  is  more  than  just  making  great  coffee  
  13. 13. Building  a  coffee  chain  requires  the  following  competencies  •  Real  estate  procurement   •  Food  handling    •  Facili2es  management   •  Supply  chain  /  procurement  •  Brand  iden2ty   •  Processes   •  Standardiza2on  •  Marke2ng   •  HR  –  hiring,  training,  reten2on  •  Sales   •  Service  management  •  Legal,  finance,  audit  •  Vendor  management  •  MIS   Etc.  etc.,  etc….  
  14. 14. Dynamics  of  an  e-­‐commerce   business   Procurement   Produc2on/Packaging   Technology  PlaYorm   Supply  chain   Look  &  Feel  –  user  experience   Portal   Product     Vendor  management     Ordering  mechanisms  –  including   ‘order  on  phone’   Capacity  u2liza2on   Payment  gateways  &  methods   Value  proposi2on  &  Delivery  &  fulfillment   posi2oning   mechanisms   E-­‐ Brand   Target  Audience   Logis>cs   commerce   Warehousing   Strategy   Pricing   Logis2cs  partners   Brand  Personality   Order  Management   Marke2ng  strategy  as  well  as  tac2cal   Roles  &  Responsibili2es  iden2fica2on   idea,  sales  strategy                       Team   Marke>ng   Media  Plan  &  Budgets   HR  policies   CRM  Strategies  &  Ideas  including   Team  hiring  &  reten2on  plan   loyalty  programs,  referrals,  etc.    
  15. 15. How  many  vendors  are  involved?  19  Partners  /  Vendors  involved  in  the  implementa>on  process  Technology  &  portal   Marke>ng  &  Brand   Opera>ons  partners  development  partners   Communica>on  partners   1.  Packaging  &  prin2ng  partners  1.  E-­‐commerce  capable   1.  Brand  iden2ty  specialists   2.  Logis2cs  partners   Technology  partners     2.  Photographer   3.  Recruitment  consultants  2.  Hos2ng  partner   3.  Direct  Marke2ng  agency   4.  CRM  partners/CRM  plaYorm  3.  User  Interface  partner   4.  Social  Media  Agency   vendors  4.  Payment  Gateway     5.  Adver2sing  Agency   5.  Database  vendors  5.  Tes2ng  &  bug  fixing   6.  Media  Buying  agency   6.  Process  Training  Consultants   experts   7.  Sod  Skill  Training  Consultants   8.  Outsourced  Call  Centre    
  16. 16.    Objec>ve  of    today’s  session  To  make  a  business  case  around  a  good  idea.  
  17. 17.    Fall  in  love  with  a  PROBLEM.    Don’t  get  infatuated  with  a  solu>on.      [Allows  you  to  try  new  solu2ons  if  one  does  not  work]  
  18. 18.      To  have  one  great  idea,  have  many  of  them.      Thomas  Edison  
  19. 19.    Exercise  1  Iden>fy  the  problem  or  need  that  you  want  to  own  Present  it  as:    1.  The  situa>on/environment  [e.g.  accommoda2on  choices  in   Gurgaon  are  either  too  expensive  or  too  basic  &  dirty]  2.  The  problem  you  want  to  address  [e.g.  “We  want  to   address  the  problem  of  finding  smart,  cheerful  accommoda2on   at  reasonable  prices]  
  20. 20.    Exercise  2  State  the  ideas  that  address  the  problem  that  you  chose  Present  all  the  ideas  you  considered  and  explain  why  you  discarded  some.    
  21. 21. Implementa>on  planning  The  most  cri>cal  component  of  the  plan  
  22. 22. Implementa>on  planning  –  things  to  consider  •  Customer  segments  and  value  proposi2on   •  B2B,  B2C,  B2B2C  •  Channels  to  reach  them  •  Marke2ng  strategy  •  Sales  strategy  •  Revenue  streams  •  Key  ac2vi2es  •  Key  partnerships  •  Key  resources  •  Cost  structures  
  23. 23. Crea>ng  an  overview  of  your  business  •  What  is  the  pain  point  you  are  addressing  or  what  is  the  opportunity   you  are  targe2ng?  i.e.  the  need/value  proposi>on  •  What  is  your  service/product/concept?  i.e.  what  do  you  do?  i.e.   Concept  •  Whom  is  this  service  targeted  at?  i.e.  your  customers/consumers?    i.e.   The  Target  audience  •  What  is  the  business  model?  I.e.  Who  will  pay  how  much  and  to   whom  •  What  is  the  scale  of  aspira2on?  i.e.  how  large  do  you  see  yourself  as  in   a  3-­‐5  year  >me  period?  
  24. 24. Example of a business modelTypes  of  business  models   •  Free  for  users  –  adver2sers  pay   •  SAAS  –  pay  only  for  service  /  rental     •  Pay  per  use   •  Pay  up  front   •  Annual  /  periodic  payments     •  Pay  in  installments   •  B2B2C    Example  of  a  business  model    “We  have  a  B2B2C  model.  We  will  charge  parents  Rs.250  per  child  per  month.  This  will  be    collected  by  the  school  from  parents  who  subscribe  to  our  service  and  will  be  paid  to  us  at  the    beginning  of  every  quarter.      Students  will  be  pre-­‐registered  but  subscrip2on  is  not  compulsory  and  parents  can  choose  to  opt  out.      School  will  keep  20%  of  total  revenues,  which  we  will  give  them  at  the  end  of  the  year  on  achieving  a  pre-­‐agreed  minimum  revenue  commitment.”  
  25. 25. Your goals•  In  the  next  3  –  6  months  •  In  the  next  12  –  18  months  or  24  months  •  In  the  next  5  years    •  Indicate  when  you  become  profitable  Current achievements / status:
  26. 26. Competitive landscape•  Who  will  you  compete  with?  [current  or  in  future]  •  Why  would  someone  choose  you  over  them?  •  Why  do  you  have  a  chance  to  be  a  dominant  player?  
  27. 27. Planning  for  your  business    Prajakt  Raut  President  –  Angel  Investors  Consor2um  Execu2ve  Director  –  The  Hatch    Visit  the  Virtual  Learning  Center  for  startups  at