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Business model
                              IED
                            Lesson 5

Frieda Brioschi
frieda.brioschi@gmail.com
Course program
1. Italian Startups
2. Set up a startup in Italy
3. I've got an idea. And now?
4. Value analysis
5. Business model
6. Communicate, communicate, communicate
7. Being net
8. Find your market
9. Funding: venture capital, business angel and other
ways of financing
10. Pitch
Today's table of content


1. Business Model

2. Examples

3. Business Plan
Value analysis: quick recap
During last lesson you learnt about direct and indirect
costs:

  1. the former are costs that can be identified
   specifically with a particular project or activity
   labour agreements

  2. the latters include all the other costs
Value analysis: quick recap

You went through the definitions of cash and accrual
basis accounting:

  • difference between them has to do with the time
    frame in which revenues and expenses are recorded
    and reported
Value analysis: quick recap
Some examples of perceived value:

• Gillette Fusion Vs Gillette Custum Plus Disposable

• 3M Scotch Tape Vs 3M Scotch Command Strips

• A-Style, Lacoste, etc.

Value is the extent to which a good/service is
perceived by its customer to meet his needs/wants,
measured by the customer’s willingness to pay for it.
Business model
Business model /1
A business model describes the rationale of how an
organization creates, delivers, and captures value
(economic, social, cultural, or other forms of value).
The process of business model construction is part of
business strategy.

It's a way to represent core aspects of a business,
including purpose, offerings, strategies, infrastructure,
organizational structures, trading practices, and
operational processes and policies.


                                         http://en.wikipedia.org/wiki/Business_model
Business model /2
The essence of a business model is that it defines the
manner by which the business enterprise delivers
value to customers, entices customers to pay for
value, and converts those payments to profit: it thus
reflects management’s hypothesis about what
customers want, how they want it, and how an
enterprise can organize to best meet those needs, get
paid for doing so, and make a profit.




                                       http://en.wikipedia.org/wiki/Business_model
The business model canvas
1 – Value proposition
The collection of products and services a business
offers to meet the needs of its customers. It's what
distinguishes itself from its competitors.
It provides value through various elements
• newness,
• performance,
• customization,
• "getting the job done",
• design,
• brand/status,
• price,
• cost /risk reduction, ecc.
                                     http://en.wikipedia.org/wiki/Business_Model_Canvas
Value Proposition Builder
1.Market: for which market is the value proposition being
 created?
2.Value/customer experience: what does the market value
 most? The effectiveness of the value proposition depends
 on gathering real customer, prospect or employee feedback.
3.Offering: which products or services are being offered?
4.Benefits: what are the benefits the market will derive from
 the product or service?
5.Alternatives and differentiation: what alternative options
 does the market have to the product or service?
6.Proof: what evidence is there to substantiate your value
 proposition?


                                            http://en.wikipedia.org/wiki/Value_proposition
2 – Customer segments
A company must identify which customers it tries to
serve. Various set of customers can be segmented
based on the different needs and attributes to ensure
appropriate implementation of corporate strategy
meets the characteristics of selected group of clients.
The different types of customer segments include:
• Mass Market
• Niche Market
• Segmented
• Diversify (multiple customer segments with different
needs and characteristics)

                                     http://en.wikipedia.org/wiki/Business_Model_Canvas
Do you know who your customers are?




                           http://www.designvision.com/strategy/
Really?




          http://www.designvision.com/strategy/
3 - Channels

A company can deliver its value proposition to its
targeted customers through different channels.
Effective channels will distribute a company’s value
proposition in ways that are fast, efficient and cost
effective.




                                     http://en.wikipedia.org/wiki/Business_Model_Canvas
4 – Customer relationship
To ensure the survival and success of any
businesses, companies must identify the type of
relationship they want to create with their customer
segments.

• Personal Assistance
• Dedicated Personal Assistance
• Self Service
• Automated Services
• Communities
• Co-creation

                                    http://en.wikipedia.org/wiki/Business_Model_Canvas
Why does it matter?




         http://soffrontblog.com/2011/02/07/benefits-of-an-on-demand-crm-application/
5 – Revenue streams
The way a company makes income from each
customer segment.

• Asset Sale
• Usage Fee
• Subscription Fees
• Lending/Leasing/Renting
• Licensing
• Advertising




                               http://en.wikipedia.org/wiki/Business_Model_Canvas
http://www.flickr.com/photos/silkcharm/2893602428/
6 – Key resources
Are the assets required to offer and deliver value
proposition to the customer.

• Physical
• Intellectual
• Human
• Financial




                                 http://en.wikipedia.org/wiki/Key_resources_(business_model)
7 – Key partner
In order to optimize operations and reduce risks of a
business model, organization usually cultivate buyer-
supplier relationships so they can focus on their core
activity.
Complementary business alliances also can be
considered through joint ventures, strategic alliances
between competitors or non-competitors.




                                    http://en.wikipedia.org/wiki/Business_Model_Canvas
8 – Key activities
The most important activities in executing a
company's value proposition.




                                    http://en.wikipedia.org/wiki/Business_Model_Canvas
9 – Cost structure
This describes the most important monetary
consequences while operating under different
business models.

• Fixed Costs
• Variable Costs
• Economies of Scale
• Economies of Scope




                                  http://en.wikipedia.org/wiki/Business_Model_Canvas
Examples
Coca Cola




   http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/
Financial Times




       http://glennas.wordpress.com/2010/07/31/business-model-innovation-alexander-osterwalder/
LinkedIn




           http://bmimatters.com/
Groupon




     http://www.adriaanrijkens.nl/2011/06/29/the-groupon-business-model-canvas/
Twitter




     http://bmimatters.com/2012/02/18/understanding-twitter-business-model-design/
Facebook




      http://bmimatters.com/2012/04/10/understanding-facebook-business-model/
Blockbuster




      http://daphnecurry.wordpress.com/2011/08/25/business-model-for-blockbuster-video/
Google




    http://bmimatters.com/2012/04/18/comparing-facebook-and-google-business-models/
Wikipedia
Does an original business plan still exist for
Wikipedia?




                                http://www.quora.com/Wikipedia/Does-an-original-business-plan-still-exist-for-Wikipedia
Community models
Geographically based
• neighbourhood

• productive district

• close to me




                        http://www.oilproject.org/lezione/cos-un-business-community-model-6346.html
Professional community
All the people making the same job.

It’s an easy target.




                         http://www.oilproject.org/lezione/cos-un-business-community-model-6346.html
Online community
• Easy to reach (massive tools available)

• There’s no clear limits between being part of a
community and a company business (let’s think of
UGC)

• Online users are available to pay for an interesting
service (freemium!)

• Can be created as part of my business (i.e.
Amazon’s libraries network)

                           http://www.oilproject.org/lezione/cos-un-business-community-model-6346.html
Business plan
Business plan
Business plan describes what, how long e how much
money you need to realize your business model.

Usually a business plan is a doc both for internal and
external use. Internally it describes the company
strategy, externally it presents the project to
stakeholder.
Business plan
Writing a business plan help to clarify every company
activities and

• optimize and develop available resources
• improve consciousness on financial aspects, cash
 flows, break even, etc.
• Analyze risks
• Identify path to specific goals
• Etc.



                                    http://www.nascelimpresa.it/doc/guida_BUSINESS_PLAN.pdf
Business model Vs Business plan


Plans are static

                                  ..models are dynamic!

                   - Steve Blank -




                             http://www.slideshare.net/sblank/bus-model-and-cust-dev-jan-2013
Never forget.. !!!




           http://retrolife.typepad.com/the_overexamined_life/entrepreneurship/
Next week


Communicate, communicate, communicate.

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Business model

  • 1. Business model IED Lesson 5 Frieda Brioschi frieda.brioschi@gmail.com
  • 2. Course program 1. Italian Startups 2. Set up a startup in Italy 3. I've got an idea. And now? 4. Value analysis 5. Business model 6. Communicate, communicate, communicate 7. Being net 8. Find your market 9. Funding: venture capital, business angel and other ways of financing 10. Pitch
  • 3. Today's table of content 1. Business Model 2. Examples 3. Business Plan
  • 4. Value analysis: quick recap During last lesson you learnt about direct and indirect costs: 1. the former are costs that can be identified specifically with a particular project or activity labour agreements 2. the latters include all the other costs
  • 5. Value analysis: quick recap You went through the definitions of cash and accrual basis accounting: • difference between them has to do with the time frame in which revenues and expenses are recorded and reported
  • 6. Value analysis: quick recap Some examples of perceived value: • Gillette Fusion Vs Gillette Custum Plus Disposable • 3M Scotch Tape Vs 3M Scotch Command Strips • A-Style, Lacoste, etc. Value is the extent to which a good/service is perceived by its customer to meet his needs/wants, measured by the customer’s willingness to pay for it.
  • 8. Business model /1 A business model describes the rationale of how an organization creates, delivers, and captures value (economic, social, cultural, or other forms of value). The process of business model construction is part of business strategy. It's a way to represent core aspects of a business, including purpose, offerings, strategies, infrastructure, organizational structures, trading practices, and operational processes and policies. http://en.wikipedia.org/wiki/Business_model
  • 9. Business model /2 The essence of a business model is that it defines the manner by which the business enterprise delivers value to customers, entices customers to pay for value, and converts those payments to profit: it thus reflects management’s hypothesis about what customers want, how they want it, and how an enterprise can organize to best meet those needs, get paid for doing so, and make a profit. http://en.wikipedia.org/wiki/Business_model
  • 11. 1 – Value proposition The collection of products and services a business offers to meet the needs of its customers. It's what distinguishes itself from its competitors. It provides value through various elements • newness, • performance, • customization, • "getting the job done", • design, • brand/status, • price, • cost /risk reduction, ecc. http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 12. Value Proposition Builder 1.Market: for which market is the value proposition being created? 2.Value/customer experience: what does the market value most? The effectiveness of the value proposition depends on gathering real customer, prospect or employee feedback. 3.Offering: which products or services are being offered? 4.Benefits: what are the benefits the market will derive from the product or service? 5.Alternatives and differentiation: what alternative options does the market have to the product or service? 6.Proof: what evidence is there to substantiate your value proposition? http://en.wikipedia.org/wiki/Value_proposition
  • 13. 2 – Customer segments A company must identify which customers it tries to serve. Various set of customers can be segmented based on the different needs and attributes to ensure appropriate implementation of corporate strategy meets the characteristics of selected group of clients. The different types of customer segments include: • Mass Market • Niche Market • Segmented • Diversify (multiple customer segments with different needs and characteristics) http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 14. Do you know who your customers are? http://www.designvision.com/strategy/
  • 15. Really? http://www.designvision.com/strategy/
  • 16. 3 - Channels A company can deliver its value proposition to its targeted customers through different channels. Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost effective. http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 17. 4 – Customer relationship To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments. • Personal Assistance • Dedicated Personal Assistance • Self Service • Automated Services • Communities • Co-creation http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 18. Why does it matter? http://soffrontblog.com/2011/02/07/benefits-of-an-on-demand-crm-application/
  • 19. 5 – Revenue streams The way a company makes income from each customer segment. • Asset Sale • Usage Fee • Subscription Fees • Lending/Leasing/Renting • Licensing • Advertising http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 21. 6 – Key resources Are the assets required to offer and deliver value proposition to the customer. • Physical • Intellectual • Human • Financial http://en.wikipedia.org/wiki/Key_resources_(business_model)
  • 22. 7 – Key partner In order to optimize operations and reduce risks of a business model, organization usually cultivate buyer- supplier relationships so they can focus on their core activity. Complementary business alliances also can be considered through joint ventures, strategic alliances between competitors or non-competitors. http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 23. 8 – Key activities The most important activities in executing a company's value proposition. http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 24. 9 – Cost structure This describes the most important monetary consequences while operating under different business models. • Fixed Costs • Variable Costs • Economies of Scale • Economies of Scope http://en.wikipedia.org/wiki/Business_Model_Canvas
  • 26. Coca Cola http://sopinion8ed.wordpress.com/2012/11/23/the-coca-cola-business-model-and-their-competitive-advantage/
  • 27. Financial Times http://glennas.wordpress.com/2010/07/31/business-model-innovation-alexander-osterwalder/
  • 28. LinkedIn http://bmimatters.com/
  • 29. Groupon http://www.adriaanrijkens.nl/2011/06/29/the-groupon-business-model-canvas/
  • 30. Twitter http://bmimatters.com/2012/02/18/understanding-twitter-business-model-design/
  • 31. Facebook http://bmimatters.com/2012/04/10/understanding-facebook-business-model/
  • 32. Blockbuster http://daphnecurry.wordpress.com/2011/08/25/business-model-for-blockbuster-video/
  • 33. Google http://bmimatters.com/2012/04/18/comparing-facebook-and-google-business-models/
  • 34. Wikipedia Does an original business plan still exist for Wikipedia? http://www.quora.com/Wikipedia/Does-an-original-business-plan-still-exist-for-Wikipedia
  • 36. Geographically based • neighbourhood • productive district • close to me http://www.oilproject.org/lezione/cos-un-business-community-model-6346.html
  • 37. Professional community All the people making the same job. It’s an easy target. http://www.oilproject.org/lezione/cos-un-business-community-model-6346.html
  • 38. Online community • Easy to reach (massive tools available) • There’s no clear limits between being part of a community and a company business (let’s think of UGC) • Online users are available to pay for an interesting service (freemium!) • Can be created as part of my business (i.e. Amazon’s libraries network) http://www.oilproject.org/lezione/cos-un-business-community-model-6346.html
  • 40. Business plan Business plan describes what, how long e how much money you need to realize your business model. Usually a business plan is a doc both for internal and external use. Internally it describes the company strategy, externally it presents the project to stakeholder.
  • 41. Business plan Writing a business plan help to clarify every company activities and • optimize and develop available resources • improve consciousness on financial aspects, cash flows, break even, etc. • Analyze risks • Identify path to specific goals • Etc. http://www.nascelimpresa.it/doc/guida_BUSINESS_PLAN.pdf
  • 42. Business model Vs Business plan Plans are static ..models are dynamic! - Steve Blank - http://www.slideshare.net/sblank/bus-model-and-cust-dev-jan-2013
  • 43. Never forget.. !!! http://retrolife.typepad.com/the_overexamined_life/entrepreneurship/