Reference no: EM133455722
TOPIC - BIDET(HAND HELD BIDET), ADDRESS THE USA VALID MARKET
This assignment is where everything comes together from the class. We ask you to compile a "first draft" of a plan that explains your business model a bit more. This is NOT a business plan. A business plan would include a complete set of financial statements as well as quite a bit of information from your marketing plan as well as information from an operations plan as well as your overall business strategy -- vision, goals, etc. This is an abbreviated plan.
Your abbreviated plan explains your first draft of the assumptions (Hypotheses) used to createe your Business Model Canvas. As you know, Lean Launch requires you to make a set of hypotheses and assumptions that, in the real world, you would go through "customer discovery" and test in several experiments to prove the viability of your business model. Remember, your Business Model is much more than a product or service development and launch -- it is the search for and development of a value (proposition) delivery system -- a business. The "Learning Activities" were developed to give you some hands-on/brains-in experience with thinking through and documenting your thoughts and ideas into a value-creation and delivery system.
Think of your BMC (always a draft, subject to search and learning) as your outline for your abbreviated plan. Your abbreviated plan is a more detailed explanation of your business and business model. (It is not a complete business plan) and your PITCH is YOUR presentation of your business model in such a way as to share your understanding and enthusiasm for the potential of your business model to deliver value to your selected customer. And when you solve that problem that delivers value to your customer, you have a model that will make money. Your PITCH aims to get an investor's gatekeeper to say "YES" to support you in gathering the details and doing customer discovery so that you can develop a complete business plan. You are seeking support from your company management, a partner, or an interested investor to move on. The abbreviated plan must have the information to allow you to tell the story to move the investor to support you.
You must know your investor as much as possible. For your abbreviated plan --Gene Wright -- is the gatekeeper to an investor you must convince. I have 12 questions that I want to understand the answers to. Your grade will be a subjective opinion of how well you answered my queries AND if you have provided me with the format I am looking for.
You know that I believe that an Executive Summary is HUGE. I expect an MSOE titlee page and a Table of Contents. LOTS of WORDS do not necessarily make a good answer to my questions. Concise, clear responses to the questions are best. They may only be a few sentences long. You may use ANY format you like. If you use any outside sources, you must cite them. You may use your previously submitted learning activities from this class.
This plaan is worth 25 percent of your gradde.
You should include ANYTHING you think is essential for a gatekeeper, an investor or a manager evaluating the investment in your plan or project would need to know.
Questions: Socratic Outline (As a minimum, your PLAN should answer these questions for gatekeepers, your potential investors, or stakeholders).
- What is your Innovative Product or Service? (Value Proposition) (Previous Assignment)
- Who is your Ideal Customer? (Previous Assignment)
- What CHANNELS will you be using? (how will you go to market?)
- What is your Business Model? (Previous Assignment)
- What is your REVENUE Forecast? (Previous Assignment TAM, SAM, TM 3-year forecast)
- What are the KEY ACTIVITIES you will perform?
- Who are your COMPETITORS? (In general, these are just a few comments, not an analysis)
- What are the RISKS you will encounter? (Besides not reaching your forecast)
- What are the KEY RESOURCES you will require?
- Who are the KEY MEMBERS of your TEAM? (DESCRIBE Their Roles, names not required)
- What is your COST STRUCTURE, and what are the costs associated with your firm? (Estimated, one number per unit "WAG") BMC Costs. (This is just a very broad estimate of your TOTAL Expenses for the operation)
- What does your Business Model Canvas look like? (Include a copy of your BMC on ONE Page ) There are several templates available on the web. I have supplied some examples. You are not required to use anything I have provided. You may find your own. One PAGE is important if if it is hand drawn and scanned.