Recommended
More Related Content
Recently uploaded
Recently uploaded (20)
Featured
Featured (20)
K2 - Sabrina Kiefer (Author of The Smart Entrepreneur)
- 1. The Smart Entrepreneur How to build for a successful business Bart Clarysse Sabrina Kiefer
- 2. The entrepreneurial dream “When I was in college, guys usually pretended they were in a band.... Now they pretend they are in a start-up.” The Economist, 12 March 2009
- 3. Managing uncertainty New innovation, new market Will it work? Should I take the risk? Other people seem to know the game “I’ve only succeeded if I become the next Mark Zuckerberg” It’s not an insiders’ game... you can learn how
- 4. Attitude Take gradual steps; ‘date’ your business idea Expert witness research/’Customer development’ – customers’ needs are more important than your features! Understand the industry environment and competition factors Understand what skills you have and which ones you’ll need to recruit Be willing to adapt and change course as you get insight: Your first idea often isn’t quite the right one, but maybe it’s not all wrong Don’t immediately fixate on one thing, until you find the right course Find creative ways around problems, but also know when to stop Learn how to deal with setbacks – that’s how you build confidence!
- 5. Approach What is your business = what problem are you solving? Is it a real problem and is your solution the right one? ICStartup pool: AdXchange CoAdJoint
- 6. Addressable market? All singles in Europe: 55 million Your product/ service
- 7. Addressable market? All singles in Europe born between 1935-1972 Your product/ computer literate service Disposable income £70K+ p.a. Actively looking for a partner
- 8. Industry structure? Raw material suppliers Artica R&D Environmental HVAC Commercial consultants Distributors landlords Assembly and fitters and Architects Marketing property Standard developers component suppliers HVAC Electronics Distributors modules and fitters Air flow Artica sees a block in the conventional value chain
- 9. Solution >> New market, new value chain >> Trade sale to Monodraught: added market segments >> Product rolled out as ‘Cool-Phase’
- 10. Market entry strategies INDUSTRY STRUCTURE COMPLEXITY (Market for products or technology) Low High High ENVIRONMENTAL STABILITY (Market or IP) Low
- 11. Proof of concept • Prototyping and design thinking • Market testing Even a crude prototype is a start in the right direction if it demonstrates or tests something useful.
- 12. Marshalling resources • Venture teams • Bootstrapping • Dealing with business angels, venture capitalists • Milestone agreements • Venture roadmap and basic financials
- 13. From the horse’s mouth http://www3.imperial.ac.uk/entrepreneurship/media_library
- 14. Thank you. Any questions?