what is your venture identity?
DESCRIPTION
What is YOUR venture identity?. Feasibility & Desirability. It is one of the CH1 concepts It is the foundation of your assignment #2 It is this week’s key topic & reading Business model 7 components in the book chapters? 5 components in your take-home? Feasibility analysis - PowerPoint PPT PresentationTRANSCRIPT
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What is YOUR
venture identity?
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3-2
Feasibility & Desirability
• It is one of the CH1 concepts• It is the foundation of your assignment #2• It is this week’s key topic & reading
• Business model• 7 components in the book chapters?• 5 components in your take-home?
• Feasibility analysis• 3 interrelated components?
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1 2
3
4
5
a.k.a. core competency
What’s your VRIN? What problem will you solve?
Broad- or narrow-scope?
Business Model (Take-Home Assignment)
Provide details of these 5 elements for your [named product/service]
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3-4
Feasibility Analysis
Industry & Market
Product or
ServiceFinancial
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RECAP OF LAST CLASS
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3-6
Feasibility Analysis
Industry & Market
Product or
ServiceFinancial
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Industry & Market Feasibility
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3-8
In-Class Exercise
Details (who, what, how, etc.) High/Moderate/Low
Rivalry among existing CompetitorsThreat of new entrants
Threat of substitutes
Bargaining power of customersBargaining power of suppliers
Name Porter’s 5 forces for your [named product/service]
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AGENDA FOR TODAY
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3-10
Feasibility Analysis
Industry & Market
Product or
ServiceFinancial
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3-11
What went wrong with Segway?
• Projected sales: 10,000 ~ 50,000 units in 12 months
• Actual sales:6,000 units in 21 months
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3-12
Product or Service Desirability
• Secondary research• White papers, internet, demographic/census data,
directory/listing• Simplified customer survey
• $20 Starbucks test on random people• Focus Group
• Concept test on “potential customers”• Buyer Intent • Prototypes
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3-13
Focus Group Concept Test
• Ask 8~12 “potential customers” to provide you in-depth feedback• List 3 things you like about the product or service
idea described• Provide 3 suggestions for making the idea better• Do you think the idea is feasible (i.e., is a realistic
or viable business idea)?• Provide any additional comments or suggestions
you think might be helpful (including red flags)
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3-14
Buyer Intent Survey
• Ask 50 “potential customers”• How likely would you be to buy the product or
service described?• Definitely, probably, might or might not, definitely not
• How much would you be willing to pay for the product or service?
• Where would you expect to find this product or service for sale?
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Business Model (Take-Home Assignment)
Provide details of these 5 elements for your [named product/service]
6
78
9
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WHAT COMES NEXT?
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3-17
Feasibility Analysis
Industry & Market
Product or
ServiceFinancial