Download to read offline
Uploaded byBonnie Foley-Wong, CA, CFA
Joining up the dots - enterprise development, innovation, and finance
The document discusses the foundation of innovation and enterprise development, highlighting the importance of starting from creativity and randomness to establish a business vision. It emphasizes the need for robust business plans and revenue models, utilizing tools like the business model canvas and customer development model. Additionally, it addresses funding strategies including bootstrapping and seeking angel investors, while stressing the balance required for a culture of innovation.
More Related Content
Similar to Joining up the dots - enterprise development, innovation, and finance
Joining up the dots - enterprise development, innovation, and finance
- 1. Bonnie Wong Enterprising Women TheCUBE London 17 November 2010
- 2. Enterprise Development A Culturefor Innovation Where do we begin to develop a new enterprise and a culture for innovation?
- 3. Innovation Enterprise Development A Culturefor Innovation Well, we begin with an innovative new idea.
- 4. Innovation Enterprise Development A Culturefor Innovation Randomness Chaos Emptiness Actually, no, we begin before that, with randomness, chaos, emptiness. Take the limits off.
- 5. Randomness Chaos Emptiness Creativity New Ideas Innovation & VisionDevelopment A Direction... Rather Than a Destination Randomness and emptiness makes room for creativity and new ideas. From there we can innovate and develop our vision. Think of the vision for your enterprise as a direction – gives you room to manoeuvre
- 6. What does thisreally mean? Viable business model, investors want to know how you're going to make money “Robust business plans and revenue models” ~ Good Deals Conference 2010 Now that you have your vision, what next? Investors want robust business plans and revenue models.
- 7. Business Model Canvas,Alex Osterwalder, http://www.businessmodelalchemist.com/tools http://www.businesmodelgeneration.com This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. Visual tool for identifying components of your business model and how they relate to each other. Investors are interested in the revenue model.
- 8. Business Model Canvas,Alex Osterwalder, http://www.businessmodelalchemist.com/tools http://www.businesmodelgeneration.com This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. Start with your customers, to figure out what your revenue model is.
- 9. Customer Development Model,Steve Blank http://steveblank.com/2009/09/17/the-path-of-warriors-and-winners/
- 10. Customer Development Model,Steve Blank http://steveblank.com/2009/09/17/the-path-of-warriors-and-winners/ Component descriptions from Mark Zimmerman @ MaRS http://www.marsdd.com/blog/2010/09/20/please-dont-hire-a-sales-professional/ 1.Customer Discovery, where a start-up tests its hypothesis about a customer’s problem and their proposed solution. 2.Customer Validation, where a start-up develops, tests and iterates until it finds a repeatable and scalable sales process. 3.Customer Creation, where a company’s focus turns from finding demand to creating it in order to scale revenue. 4.Company Building, where a company transitions from an organization designed for learning and flexibility into a one engineered for execution.
- 11. Customer Development Model,Steve Blank http://steveblank.com/2009/09/17/the-path-of-warriors-and-winners/ It would be better if it was purple and made from Fairtrade cotton
- 12. Customer Development Model,Steve Blank http://steveblank.com/2009/09/17/the-path-of-warriors-and-winners/
- 13. Customer Development Model,Steve Blank http://steveblank.com/2009/09/17/the-path-of-warriors-and-winners/ Great! I'd buy that for £15.
- 14. design score member member prints t-shirts with highscores, sells on website
- 15.
- 16. I've built a communityof 100 customers, of them ### will buy ## t-shirts for £ each. It will cost £ to supply, print, and distribute them. We will print in batches of ### t-shirts. Back to that Revenue Model... Financial models tell the story of your enterprise in the language of numbers. It's not a list, it's not a bank statement.
- 17. How to FinanceYour Venture Finance new ventures by bootstrapping – fund it yourself, from savings, with the help of family and friends.
- 18. How to FinanceYour Venture “I eat risk for breakfast!” Or find an angel investor – they have a higher appetite for risk for new, unproven ventures.
- 19. Typical investors like buyand build strategy... scale and replicate If you are established and looking to grow, you may consider external finance. Investors like one to three years existing trading.
- 20. Reliable Predictable Secure Uncertain New Untested A Culture forInnovation requires balance A culture for innovation balances a solid foundation with room to innovate. Build this into your business model from the start.
- 21. Reliable Predictable Secure Uncertain New Untested Google time 3M havebeen doing this for ages It is effectively what Google does – main search business is its foundation, makes room for Google time. 3M also allows its employees to experiment.
- 22. Reliable Predictable Secure Uncertain New Untested Your own venture Sponsors Angel investors Youcan do this too – first venture, create a stable foundation with a proven business model, or partner with those who provide stability and can take a risk with your venture.
- 23. Reliable Predictable Secure Uncertain New Untested Your own venture Sponsors Angel investors Yournext venture Someone you can support Your next venture can be riskier, with an unproven model or support someone else's innovation.
- 24. Randomness Chaos Emptiness Creativity New Ideas Innovation & VisionDevelopment Enterprise Development A Culture for Innovation
- 25. Thank You! Bonnie Wong Director CompositionAdvisory Limited @BonnieOWong bonnie@compositionadvisory.com http://compositionadvisory.com