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20140321 htbv

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This document summarizes a class on venture design, strategy, business models, and organization. The class covered an overview, guest lectures from founders of startup companies, business models, venture design, and a mid-term evaluation. It discussed iterating business ideas, assessing feasibility, designing ventures including competitive strategy and distribution channels, and business planning to communicate legitimacy and understanding to potential investors. Students will continue working on their ventures and presenting progress on their business models.

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High-­‐Tech  Business  Venturing   (HTBV)   Class  #07:  Venture  design:  strategy,   business  model,  and  organiza9on     March  21,  2014   In  collabora*on  with:    
Today’s  topics   •  Overview  of  the  course   •  Guest  lecture   –  Rasmus  Banke  (Founder  and  CEO  of  Banke  Accessory   Drives)   –  Alexander  Brem  (new  professor  at  Innova9on  &  Business)     •  Business  model   •  Venture  design   •  Mid-­‐term  evalua9on  
Background   •  Objec9ves   – From  technology  to  business  opportunity     – Prac9cing  entrepreneurship   •  Approach   – Applied  business  venturing   – Focus  on  business  opportunity  and  venture  design   – Itera9ve,  experien9al,  &  experimental  
Course  structure   (1) (2) (3) (4) (a) Introduction to course Feasibility analysis Venture design Mobilizing resources and funding (b) Introduction to technology Coaching session Coaching session Coaching session (c) Coaching session Presentation of business opportunity Presentation of business model Presentation of business plan
Idea  &  opportunity  prototyping   •  Opportunity  and  idea  modeling   •  Super  hunch  sketch  pad  
Itera9on!   Source:  www.theinnographer.com  
Assessing  feasibility   •  Proposal  MUST  be  feasible   –  Industrial;  Compe99ve;  Technical;  Market;  Opera9onal;   Legal;  Financial;  Commercial   •  If  not:     –  Adept  or  abandon  your  plan   –  (Assume  that  it  will  be  feasible)   •  Industry  analysis   –  A]rac9veness  of  industry   •  Characterizing  demand   –  Realis9c  es9mates  &  nuances  in  demand   –  Self-­‐reports  may  be  unreliable   •  Stated  preferences  vs.  ul9mate  purchases  
Designing  the  venture   •  Compe99ve  Strategy   •  The  Distribu9on  Channel  Decision   •  Adver9sing  Decisions   •  Dynamic  Demand  Forecast   •  Scope  of  Opera9ons  
Business  model  in  prac9ce   George,  G.  &  Bock,  A.  J.  2011.  The  business  model  in  prac9ce  and  its  implica9ons  for   entrepreneurship  research.  Entrepreneurship  Theory  and  Prac*ce,  35:  83-­‐111.  
Business  model  components   Afuah,  A.  2014.  Business  Model  Innova*on:  Concepts,  Analysis,  and  Cases  (2nd  Edi9on).   New  York:  Routledge.    
Business  model  canvas  
Business  plan/planning   •  “While  the  most  visible  output  of  the  text  will  be  a  business  plan,   the  most  valuable  output  will  be  the  venture  simula9on  you  will   have  created  to  support  your  decision  making.”  (Kno],  2012)   •  What  needs  to  be  learned   –  Risk   –  Return   –  Feasibility   •  Technical,  compe99ve,  opera9onal,  financial   •  What  needs  to  be  communicated   –  Legi9macy   –  Understanding   –  Professionalism   –  Ability  
Guest  lecture   •  Rasmus  Banke   – Founder  and  CEO  of  Banke  Accessory  Drives  
Mid-­‐term  evalua9on  
Guest  lecture   •  Alexander  Brem   – Professor  (mso)  at  Innova9on  &  Business  Group,   Mads  Clausen  Ins9tute  
Next  steps   •  Class  #08:  Coaching  session   –  Date:  Friday,  April  4   –  Time:  09:15-­‐12:00   –  Loca9on:  U303   •  Submit  progress  report   •  Recent  progress;  current  plan  and  next  steps;  open  ques9ons  and   issues  (agenda)   •  Wednesday,  April  2;  09:00  (Blackboard)   •  Class  #09:  Presenta9on  of  business  model     –  Date:  Friday,  April  25   –  Time:  09:15-­‐12:00   –  Loca9on:  iFabrikken  

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20140321 htbv

  • 1. High-­‐Tech  Business  Venturing   (HTBV)   Class  #07:  Venture  design:  strategy,   business  model,  and  organiza9on     March  21,  2014   In  collabora*on  with:    
  • 2. Today’s  topics   •  Overview  of  the  course   •  Guest  lecture   –  Rasmus  Banke  (Founder  and  CEO  of  Banke  Accessory   Drives)   –  Alexander  Brem  (new  professor  at  Innova9on  &  Business)     •  Business  model   •  Venture  design   •  Mid-­‐term  evalua9on  
  • 3. Background   •  Objec9ves   – From  technology  to  business  opportunity     – Prac9cing  entrepreneurship   •  Approach   – Applied  business  venturing   – Focus  on  business  opportunity  and  venture  design   – Itera9ve,  experien9al,  &  experimental  
  • 4. Course  structure   (1) (2) (3) (4) (a) Introduction to course Feasibility analysis Venture design Mobilizing resources and funding (b) Introduction to technology Coaching session Coaching session Coaching session (c) Coaching session Presentation of business opportunity Presentation of business model Presentation of business plan
  • 5. Idea  &  opportunity  prototyping   •  Opportunity  and  idea  modeling   •  Super  hunch  sketch  pad  
  • 7. Assessing  feasibility   •  Proposal  MUST  be  feasible   –  Industrial;  Compe99ve;  Technical;  Market;  Opera9onal;   Legal;  Financial;  Commercial   •  If  not:     –  Adept  or  abandon  your  plan   –  (Assume  that  it  will  be  feasible)   •  Industry  analysis   –  A]rac9veness  of  industry   •  Characterizing  demand   –  Realis9c  es9mates  &  nuances  in  demand   –  Self-­‐reports  may  be  unreliable   •  Stated  preferences  vs.  ul9mate  purchases  
  • 8. Designing  the  venture   •  Compe99ve  Strategy   •  The  Distribu9on  Channel  Decision   •  Adver9sing  Decisions   •  Dynamic  Demand  Forecast   •  Scope  of  Opera9ons  
  • 9. Business  model  in  prac9ce   George,  G.  &  Bock,  A.  J.  2011.  The  business  model  in  prac9ce  and  its  implica9ons  for   entrepreneurship  research.  Entrepreneurship  Theory  and  Prac*ce,  35:  83-­‐111.  
  • 10. Business  model  components   Afuah,  A.  2014.  Business  Model  Innova*on:  Concepts,  Analysis,  and  Cases  (2nd  Edi9on).   New  York:  Routledge.    
  • 12. Business  plan/planning   •  “While  the  most  visible  output  of  the  text  will  be  a  business  plan,   the  most  valuable  output  will  be  the  venture  simula9on  you  will   have  created  to  support  your  decision  making.”  (Kno],  2012)   •  What  needs  to  be  learned   –  Risk   –  Return   –  Feasibility   •  Technical,  compe99ve,  opera9onal,  financial   •  What  needs  to  be  communicated   –  Legi9macy   –  Understanding   –  Professionalism   –  Ability  
  • 13. Guest  lecture   •  Rasmus  Banke   – Founder  and  CEO  of  Banke  Accessory  Drives  
  • 15. Guest  lecture   •  Alexander  Brem   – Professor  (mso)  at  Innova9on  &  Business  Group,   Mads  Clausen  Ins9tute  
  • 16. Next  steps   •  Class  #08:  Coaching  session   –  Date:  Friday,  April  4   –  Time:  09:15-­‐12:00   –  Loca9on:  U303   •  Submit  progress  report   •  Recent  progress;  current  plan  and  next  steps;  open  ques9ons  and   issues  (agenda)   •  Wednesday,  April  2;  09:00  (Blackboard)   •  Class  #09:  Presenta9on  of  business  model     –  Date:  Friday,  April  25   –  Time:  09:15-­‐12:00   –  Loca9on:  iFabrikken