Stephen Daze DMS 5132 Dazetelferuottawaca 6132913125 Daze Relevant Bio Founder Agawa Entrepreneurship Development Corporation wwwagawacorpcom agawacorp Managing Director Entrepreneurship ID: 781596
Download The PPT/PDF document "Why You Shouldn’t Write a Business Pla..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
Why You Shouldn’t Write a Business Plan ..yet
Stephen Daze
DMS 5132
Daze@telfer.uottawa.ca
613.291.3125
Slide2Daze: Relevant Bio
Founder: Agawa Entrepreneurship Development Corporation:
www.agawacorp.com
, @agawacorpManaging Director Entrepreneurship and Innovation: OCRI (Invest Ottawa) 15 yearsuOttawa Telfer: Pt Prof. Entrepreneurship, 10 years; Entrepreneur in Residence uOttawa Telfer SoMOther: University of Regina: BusinessSt. FX: Adult EducationBabson: Entrepreneur EducationDirector: Ottawa Chamber of CommerceChair: Manning Innovation AwardsJudge: OBJ Top 4015 years retail Operations & HRContributor: www.economicdevelopment.org
Slide3Early Common
Entrepreneur Pitfalls
Assuming you know what the customer wants
Emphasis on building your solution instead of customers’ needs and feedbackBeing driven by “needing to be right”, not learning, pivoting, iteratingWriting a Business Plan as a way to start a business
Slide4Business Plans vs. Business Models
Slide5Business Plans
A
ssume full knowledge of the market, solution and customers
Don’t require a lot of external interactionAre a useful implementation tool, focusing much on operationalizing strategiesUsually written too soon; often not written at allBusiness ModelsAssume evolution: discovery and iterationForce “getting out of the building” to talk with clientsForm foundation for success or failure
Slide6Common Pitfalls – Entship Education
Idea
Validation
Early client tractionEarly salesScalingGrowth or ExitStrategyProductFinancingBusiness ModelingProduct LineBusiness PlanningSelf
PrototypeVC, IPO , Sales
Debt?
Final v.1
Slide7Common Pitfalls – Entship Education
Idea
Validation
Early client tractionEarly salesScalingGrowth or ExitStrategyProductFinancingBusiness ModelingProduct LineBusiness PlanningSelf
PrototypeVC, IPO , Sales
Areas of focus
Debt?
Final v.1
Slide8Business Models
A simple description (often a sketch) of how you will make money and all the “moving parts” that contribute to the success of your
startup.
Includes: Who pays you $Who will you have to pay $ to?Are there partners helping you?How?What’s unique?
Slide9Business Models
Looking for:
Does it make sense?
Is it unique?Is it sustainable? Defensible?
Slide10Business Models
You Co.
$
$SuppliersEquipmentMaterialsRaw goodsSuppliesServicesPartnersLicensor/franchisorEmployees/contractorsAnything unique?Etc.Revenue Streams:-Customers
PartnersLicenseesAnything unique?Etc.
http://www.google.ca/search?q=business+models&hl=en&rls=com.microsoft:en-ca:IE-Address&prmd=imvnsb&tbm=isch&tbo=u&source=univ&sa=X&ei=ycsST8PXFurv0gGRopGlAw&ved=0CFMQsAQ&biw=1069&bih=600
Anything unique/better:
Offering
Distribution
Partners
Pricing
Etc.
Slide11Business Models: Coffee Shop
Coffee Co.
$
$SuppliersCoffee machinesStore fixturesBeans, muffinsCups ,napkinsMaterialsAccounting services, banking, marketing, etc.PartnersEmployees/contractorsLandlordsCustomers-Individuals
Companies
Unique/different:
Quality Beans and food items
Unique varieties
Atmosphere
Slide12Business Model Canvas
Slide13Business Models
Tools
and Resources:
http://www.businessmodelalchemist.com/toolshttp://www.boardofinnovation.com/business-model-templates-tools/http://www.businessmodelgeneration.com/http://www.youtube.com/watch?v=nZndv4HLVIg&list=PLCF4855C459EA4811&index=3
Slide14Lean Start Ups & Validation
“A startup is a temporary organization in search of a scalable, repeatable, profitable business model. Winners recognize their startup is a series of untested hypotheses.”
The Startup Owner’s Manual – Blank,
Dorf
Slide15Necessary Cycle of Startup Iteration
Conceive
v1 business
model & hypothesesBuild validation methodology and key metricsRun validation tests and measureLearnReiterate model and hypothesesRepeat
Slide16Case Study
Slide17Required Reading