- Clear, short business summary
- Understand the strengths and weaknesses of the concept
- Have a plan for how realise the business concept
Day 3: Businessify
START OF DAY PLANNING ASSIGNMENT
Each group member present the tools and method from the section the person has prepared.
The group then prepare the tasks for the day and the methods to be used. This plan is presented to the supervisor.
20. EXECUTIVE SUMMARY – reduce complexity of business concept
An executive summary is used to communicate a business idea effectively to decision makers Revise, summarise and possibly visualise the main elements in the business concept - keep focus on what is unique and valuable:
- Business model
21. SWOT – systematic investigation of business model
Perform a SWOT analysis to understand the business model. Define: Strengths, Weaknesses, Opportunities and Threats to the model.
22. ROLE PLAY GAME – experience the business model from different perspectives
Getting deeper into the experience of using the product/service and the organisation of the business the team can do role-plays. Scenario of use and experience.
Team members take the roles of users, clients, providers and run through main scenarios of use in order to
understand and refine the experience.
Team members take the roles of various stakeholders and try to understand their role and motivation for participating in the service/business.
23. BUDGET – check financial perspective
The team develops a 3-year budget to understand financial challenges.
24. BUSINESS PLAN – reduce organisational complexity
The team creates a business plan that covers the following aspects:
ROLE & TEAM
List CEO and key management by name and/or competence. An organisational chart may accompany this. Summarize the number of years of experience in this field. List also where you need to fill in gaps in competences. List potential external resources such as advisors, service providers
Who are the key partners to involve in this business for production, execution, distribution, etc.?
What are the resources required to start up the business?
How and where does the product/service reach the market?
Who are the customers for this business?
25. PRESENT ACCESS TO MARKET – get feedback
Make a 2-minute oral presentation (supported by sketches) that explains how you will get access to the market.
Present to another group along with the criteria and assignment. Get feedback and revise.
Present to an expert. Get feedback and revise.
END OF DAY PLANNING ASSIGNMENT
The subthemes Uniqify, Verify, Businessfy and Convincify each represent a number of tools and methods for a day.
At the end of the day the groups delegate the subthemes to individual group members; each member read through a section and prepare to present the options the following morning.