from idea to business plan in less than 3 hours...tell your story what led to decision to start/buy...
TRANSCRIPT
From Idea to Business Plan in Less Than 3 Hours
AGENDA
Understand the Business Planning Process
Ready to Use Business Model Canvas
Ready to Use LivePlan® Pitch Template
Ready to Use LivePlan® Business Model Template
NameName of Business
Planning or On-going
INTRODUCTIONS
Why Businesses Fail?Lack of Planning
50%50%SucceedFail
50% of New Businesses Fail
Planning Leads to Succus
Plan Serves as:Road Map for SuccessBenchmark for Measuring Success
16% Greater
Likelihood of Success1
1 https://hbr.org/2017/07/research-writing-a-business-plan-makes-your-startup-more-likely-to-succeed
Research:OpportunityCustomersCompetitors
Strategies Tactics
Planning is a Process
Objectives
Objectives Should Be:Time SpecificMeasurableRealistic
PLANNING PROCESS
OutcomesStrategies Tactics
Arrival DateArrival Time
AirlineDirect/Connecting
Transportation to AirportTransportation from Airport
Etc.
Objectives
What How
PLANNING PROCESS
Outcome Strategies Tactics
What How
Customers
Segment
CommonNeedsPainsGains
Empathy Map
Segment Value Proposition Canvas
Target Customer
Segment Value Proposition Canvas
Benefits
Features
Features
BenefitsTarget Customer
Business Model Canvas
https://strategyzer.com/platform/register
What
How
BUSINESS MODEL
BUSINESS MODEL
For each segment describe:Who they areNeed they are satisfyingCurrent solutionRelevant attitudesCurrent behaviorsPreferencesPainsGains
Customer Segments
BUSINESS MODEL
Customer Segments
BUSINESS MODEL
BUSINESS MODEL
VALUE PROPOSITION
VALUE PROPOSITION
BundleProduct(s)
Features BenefitsStandardOptions
ServicesPre-purchase SupportPurchase SupportPost-purchase SupportQuality Assurance
VALUE PROPOSITION
PromiseCategory Membership RequirementsPoint of Difference
Valued by CustomerNot Offered by CompetitorsDeliverable by Offering
We help [TARGET SEGMENT] do [NEED/TASK] by
providing [PRODUCT/SERVICE] that [PROMISE].
BUSINESS MODEL
CHANNELS
Communication ChannelsMarketing Messages
Pre-purchase Information
Post Purchase Support
CHANNELS
Communication ChannelsMarketing MessagesPre-purchase InformationPost Purchase Support
Telephone
Face-o-Face
Telephone
CHANNELS
COMMUNICATIONS CHANNELS
PRODUCT DELIVERY CHANNELS
Sales Force
Web Sales
Own Stores
Partner Stores
Whole-salers
Direct Indirect
BUSINESS MODEL
Customer Acquisition
Customer Retention
Boosting Sales
CUSTOMER RELATIONSHIPS
Personal Automated
Categories of Customer RelationshipsPersonal AssistanceDedicated Customer AssistanceSelf-serviceAutomated ServicesCommunitiesCo-creation
CUSTOMER RELATIONSHIPS
BUSINESS MODEL
Two TypesTransaction Revenues
One-time Customer PaymentsRecurring Revenues
On-going PaymentsPost-purchase Customer Support
REVENUE STREAMS
Ways to GenerateAsset SaleUsage FeeSubscription FeesLending/Renting/LeasingLicensingBrokerage FeesSelling Advertising
REVENUE STREAMS
Pricing Mechanisms
REVENUE STREAMS
Fixed Menu Pricing Dynamic Pricing
List Price
Feature Dependent
Segment Dependent
Volume Dependent
Negotiation
Yield Management
Real-time-market
Auctions
BUSINESS MODEL
ProductionDesigning SourcingMaking StoringDelivering
AdministrationHuman Resources FinanceAccounting MaintenanceInformation Technology Legal
MarketingProduct Management PricingDistribution Promotion
KEY ACTIVITIES
BUSINESS MODEL
Allow to: Create/Offer Value PropositionReach MarketsMaintain RelationshipsEarn Revenues
KEY RESOURCES
Physical Resources
Intellectual Recourses
Human Resources
Financial Resources
KEY RESOURCES
BUSINESS MODEL
Types of PartnershipsStrategic Alliances
Coopetition
Joint Ventures
Buyer-supplier Relationships
KEY PARTNERS
Optimize Business Model
Reduce Risks
Acquire Resources
KEY PARTNERS
BUSINESS MODEL
Cost-driven StructuresLow-price Value PropositionsMaximum AutomationExtensive Outsourcing
Value-driven StructuresPremium Value PropositionsHigh Degrees of Personalization
COST STRUCTURE
Cost Structures Include:
Fixed Costs
Variable Costs
Economies of Scale
Economies of Scope
COST STRUCTURE
Empathy MapDefines Target Customer
Value Proposition CanvasTranslates Customer Benefits
into Product Features and Defines Offering
Business Model CanvasNames the “Whats” of
Marketing, Operations and Finance
PLANNING PROCESS
Outcome Strategies Tactics
What How
https://partners.liveplan.com/score-st-paul-6mo
https://partners.liveplan.com/score-st-paul-6mo
Pitch
We provide [TARGET CUSTOMER] with [PRODUCT/ SERVICE] that helps them [PRIMAY APPLICATION] and [BENEFITS].
We help [TARGET SEGMENT] do [NEED/TASK] by providing
[PRODUCT/SERVICE] that [PROMISE].
Research:OpportunityCustomersCompetitors
Research:OpportunityCustomersCompetitors
PLANNING PROCESS
Outcome Strategies Tactics
What How
Lists the “What”Describes the “What/How”
Prescribes the “How”
Describe Key ProblemElaborate on ProblemSupport Why a Problem
Explain How Address ProblemDescribe How Products and Services Meet ProblemSupport Why Resolves Problem
Describe Target Market/Ideal CustomerMore than One Homogeneous Segment (Group)?Provide Descriptions and NumbersProvide Support/Source(s) for Numbers
Describe Competitive LandscapeDescribe Each Competitor and Their Offering(s)Describe Other Ways Target Customers Filling Need
Describe Your Key Advantages Explain Why Customers Perceive BetterSupport with Citations
Describe Your Value Proposition (Positioning)
Describe Pricing StructureProvide Support
Describe Your Value Proposition (Message)Identify Tools and Describe UseIdentify Media and Describe Use
Describe Distribution ChannelsProvide Support
Describe Physical LocationsDescribe Space Needed at Each Location and WhyExplain Benefits of Each LocationDiscuss Future Expansion Considerations
Describe Software, Hardware, Etc. and WhyPoint-of-SaleFinancial/BookkeepingE-CommerceCustomer Relationship ManagementEtc.
Describe and Justify EquipmentDescribe and Justify ToolsDescription, Justification and Timing of Forecasted Capital
Expenditures
Describe Performance Key Metrics Describe What Success MeansDescribe How Will MeasureTrack Actual Results
Identify and Describe Owners and Their ContributionsDescribe Legal Structure and Why
Tell Your StoryWhat Led to Decision to Start/Buy BusinessWhat Qualifies You to Operate BusinessWhat Are Long-term Business’ GoalsIf On-going
When and Who StartedGood YearsBad YearsWhat’s New
List Members of the Management Team
Why “Right” TeamFor Each Member:
Describe RoleDescribe Skills, Experience and Accomplishments
List Persons Advising You/Business
Discuss Each Advisor’s Role and QualificationsWhy Good Resource for You
Explain Basis for Financial Projections
Growth AssumptionsProfit ObjectivesEvidence of Strong Business Opportunity
For Loans, Investments, Etc.For Each Loan, Equity Offering, Bond, Etc.:
State Its Type of Funding
The Amount
How Funds Used or to be UsedWhy NeededExpected Return
For Each Funding Source:
State Its Type of Funding
The Amount
How Funds Used or to be UsedWhy Chosen for Purpose
Plans for Future Funding
For Miscellaneous Materials Like:
More Detailed Financial Statements/Projections
Product Sketches/Plans
Research ReportsFloor Plans/BlueprintsOther Helpful Exhibits
Summarize “Problem Worth Solving”
Summarize “Our Solution” Section
Summarize “”Target Market” Section & Describe Ideal Customer
Summarize “Competition” SectionWhat Makes Solution & Company
Better
Summarize Financial Goals
Strategic Reasoning
Summarize “Financing” Section
REVIEW
Research:OpportunityCustomersCompetitors
Strategies TacticsObjectives
Objectives Should Be:Time SpecificMeasurableRealistic
Outcome Strategies Tactics
What How
REVIEW
REVIEW
Outcome Strategies
What
Tactics
How
REVIEW
Empathy MapDefines Target Customer
Value Proposition CanvasTranslates Customer Benefits
into Product Features and Defines Offering
Business Model CanvasNames the “Whats” of
Marketing, Operations and Finance
REVIEW
REVIEW BUSINESS MODEL CANVAS
REVIEW BUSINESS MODEL CANVAS
REVIEW BUSINESS MODEL CANVAS
FinanceStrategies
REVIEW
REVIEW
REVIEW
REVIEW What How
Strategy Tactics
What HowStrategyTactics
REVIEW
Summarizes Each
Section
REVIEW
REVIEW
Milestones
REVIEW
Legal StructureStory
1 https://hbr.org/2017/07/research-writing-a-business-plan-makes-your-startup-more-likely-to-succeed
From Idea to Business
16% Greater
Likelihood of Success1
Learn More:
Strategyzer Business Model CanvasBoowww.strategyzer.com
LivePlanwww.liveplan.comhttps://partners.liveplan.com/score-st-paul-6movn
Osterwalder, et. al, Value Proposition Design, 2014, John Wiley & Sons
Osterwalder & Pignuer, Business Model Canvas, 2010, John Wiley & Sons