The course covers elements related to entrepreneurship and innovation in Industry x.0, such as
- What types of financing may one entrepreneur use
- Entrepreneurship tools - the Business Model Canvas, the Value Proposition Canvas, the Buyer Personas Canvas, the Lean Canvas, etc.
- How to Pitch
- What is a Moat
- Using AI for Entrepreneurship
and more...
What sources of financing may you have as an entrepreneur?
Click on the arrows below to navigate the presentation.
Sources for the content:
https://www.ey.com/en_nl/finance-navigator/12-sources-of-finance-for-entrepreneurs-make-sure-you-pick-the-right-one
https://www.investopedia.com/articles/personal-finance/102015/series-b-c-funding-what-it-all-means-and-how-it-works.asp
All images are created with DALL-E.
As an entrepreneur, there are many tools you may use. Find in this section links to some of the most used.
As source for these, we have used: https://www.linkedin.com/pulse/top-5-business-model-canvas-alternative-applications-nicola-zaffonato/ and https://www.strategyzer.com/library/5-tools-for-new-business-success
Today, the Business Model Canvas is an international standard and it is taught in the best schools in the world, including Stanford and Berkeley University.
The Canvas is popular with entrepreneurs and intrapreneurs for business model innovation.
They deliver three things:
• Focus: since it is more concise than a traditional business plan
• Flexibility: sitting on a single page it is a lot easier to tweak than a business plan
• Transparency: it makes a much easier to understand a business model
Use this tool to clarify how your products and services create value for the customer by addressing the most critical jobs, pains, and gains they care about.
Value Propositions are how the company wants to get to the moment its products and services create value for a specific Customer Segment/Buyer Persona. In the Lean Startup Methodology, this moment is called the Product/Market Fit.
Defining Value Propositions is about
– Identifying Customer Segments’ real needs
– Linking them to the value that the business can offer them
In this context, Value Proposition Canvas (also called Product/Market Fit Canvas) helps:
– Defining Value Propositions
– Getting to the Product/Market Fit
Value Propositions Canvas takes part in the Business Model Canvas by ensuring tight links between Value Propositions and Customer Segments.Combine the VPC with the Strategy Canvas tool to visualize if and how your value proposition differentiates from the competition (meaningfully).
The Strategy Canvas is a tool from the Blue Ocean Strategy book specifically focused on differentiation.
Strategy Canvas is a central diagnostic tool and an action framework for building a compelling blue ocean strategy. In one simple picture, it graphically captures the current strategic landscape and the prospects for an organization. Chan Kim and Renée Mauborgne developed the strategy canvas.
Use this tool to identify and assess trends, competition, customer context, and changes in a macro environment.
Understanding the environment will also help you understand if your timing is right.
Another tool that you may use for this is the PESTLE (or PESTEL) analysis. See more about this tool here: https://onstrategyhq.com/resources/pestle-analysis/
Customer Segments are the groups of people or organizations a company aims to reach or serve with its products and services. These are fundamental since every business needs profitable customers to survive.
A good way to represent a company’s customer segments is through buyer personas.
Buyer Personas are avatars of a segment, and they transform the hard facts about your target audience into ‘living’ people.
Buyer Personas Model is powerful for marketing, advertising, content creation, product or service development, target support, public relations, pricing, and sales since it puts the focus on the relationship that can be created between the company and the target.
Another resource to learn about this is: https://www.bizshakalaka.com/home/business-model-canvas/bmc-01-framework-2/use-cases-of-business-model-canvas/bmc-02-0-canvas-alternative-applications/bmc-02-1-buyer-personas-canvas/
This tool helps ensure team alignment and sound execution while testing and implementing your new business opportunities.
Starting from the BMC, Supply Chain Canvas is a tool that helps a company build a Supply Chain that is tailored to your Value Propositions by:
Revenue Streams and Cost Structure blocks are fundamental in the Business Model Canvas since they determine if the business is profitable.
Cashflow Canvas is a financial tool that helps a company to design and challenge their business’ profit model by:
Lean Canvas is an adaptation of Business Model Canvas by Alexander Osterwalder which Ash Maurya created in the Lean Startup spirit. Lean Canvas promises an actionable and entrepreneur-focused business plan. It focuses on problems, solutions, key metrics and competitive advantages.
Another source to learn more about this tool is: https://fourweekmba.com/lean-startup-canvas/
Applicable to a tech business model, this all-rounder framework encompasses:
V - value
T - Technology
D - Distribution
F - Financials
Learn more about this here: https://fourweekmba.com/what-is-blitzscaling/
The Blitzscaling business model canvas is a tool based on the concept of Blitzscaling, which is a process of massive growth under uncertainty that prioritizes speed over efficiency and focuses on market domination to create a first-scaler advantage in a scenario of uncertainty.
This method has you focusing your analysis on the 3C's or strategic triangle: the customers, the competitors, and the corporation.
By analyzing these three elements, you can find the key success factor (KSF) and create a viable marketing strategy.
Learn more about this model here:
https://online.visual-paradigm.com/knowledge/strategic-analysis/what-is-ohmaes-3c-model/A pitch is a short, approximately 3-5 minute presentation of a business idea to a potential investor or partner. The purpose of a pitch is to convince the investor to invest in your business or partner with you.
A good pitch should be:
An elevator pitch is a brief, persuasive speech to spark interest in what your organization does or in a project, idea, product, or yourself. It is called an "elevator pitch" as it's meant to be delivered during an elevator ride, which is approximately 30 seconds to 2 minutes.
Key components of an effective elevator pitch include:
Clarity: It should clearly explain the idea or concept in simple language.
Conciseness: It is brief and to the point, without unnecessary details.
Goal-Oriented: The pitch should have a clear objective, whether seeking investment, a potential sale, a partnership, or just making a connection.
Engaging: It should grab the listener's attention and make them interested in hearing more.
Persuasive: It should be compelling enough to persuade the listener to take action, like scheduling a meeting for further discussion.
Memorable: It should leave a lasting impression, making the listener remember you and your message.
Tailored to the Audience: It's often customized based on who you are speaking to, focusing on what would appeal most to that specific audience.
Call to Action: It usually ends with a call to action, prompting the listener to take the next step.
Click on the arrows below to navigate the presentation.
Check out these 15 successful pitch deck examples from Pitch.com
Check out the Library of articles from the creators of the Business Model Canvas
Use the learning resources from the Board of Innovation to watch webinars, read guides, access the AI toolbox for Innovators and go on a AI-powered Innovation Sprint.
by Peter Thiel (Author), Blake Masters (Author)
Although it is published in 2014, the principles still hold
As in...
TAM, SAM, and SOM or Total Addressable Market, Serviceable Addressable Market, and Serviceable Obtainable Market
