Lisa Calkins Building A Business Model
Download as PPTX, PDF0 likes236 views
This document provides guidance on building a business model around an invention, service, or idea. It emphasizes that a business plan should include key strategic and tactical components like an overall vision, marketing and sales strategy with competitive analysis, and 1-3 year profit and loss projections. It also stresses that the vision must be compelling and clearly communicated, and that a competitive analysis and sales/marketing strategy are crucial to determine if the idea can actually sell. Case studies of successful startups are also referenced to provide examples.
Lisa Calkins Building A Business Model
- 1. Building a Business Model(around your invention, service, idea)By Lisa CalkinsCEOAmadeus Consulting
- 2. Your Invention, Service, IdeaWhy NowTiming, SBA funding, Competition WeakWhy NotTraditional Bank FinancingWhy YouPassion and Vision for the IdeaNo excuses, Own Your Choice
- 3. Amadeus Story15 years ago, I had a visionToday I have Amadeus ConsultingWhat I did knowHow to listen and talk to clientsHow to share my vision and convince others of my ideasHow to manage teams, people, projectsWhat I didn’t knowEverything else
- 4. Business Plan – Yes and NoDo you need one only if seeking funding - NOStrategic & Tactical Components (“1” pagers)Overall Vision : What, Why, HowMarketing and Sales Strategy, includes competitive analysis and relevant market data, patents1-3 yr P&L, Balance Sheet Summary (supporting details), Excel is your best friendOrganization Chart (future roles) – Executive and Leadership TeamsNotice (The “Invention”) is not on this list20 page plan – Maybe, if this is what YOU need
- 5. Your VisionWhat, Why, HowSell your ideaFirst have to “See” your vision (mind, eyes), then “Believe” in your vision (head and heart), then “Share” your vision (words and hands)Passion, energy, ANDfactsClear, concise, professionalMust be one page: write, then edit, edit and edit – then seek outside opinions, write, edit, edit and edit, repeat.
- 6. See, Believe, ShareSee your vision – Mind, EyesDescribe in 1 or 2 sentences your invention, service, or idea Believe in your vision – Head and HeartTell me why it will succeed, define success ($, lifestyle, etc)Share your vision – Words and HandsShow me the invention, service, idea
- 7. Marketing and Sales StrategyIn the end, what really matters is will your invention, service or idea sellMost forget there are two equally important factors to the SELL answer boththe HOW : not just build a website and they will come, how will you attract your customers, how will you close, how much will they pay, how will they pay, how will you retain, how will you service/support, how will (fill in the blank)the WHO : 1 person, a team, wholesalers, repsWho will lead: if not you, then who and why
- 8. Competitive AnalysisYou (almost always) HAVE competitors now and in the futureYou always have obstacles, how will you tackle the ones you know aboutMarket: how big, who owns, now and futureiPhones – what happens when Blackberry leads, etc.No one will believe you will “own” the market out of the gateData, Data, Data : great place to hire an expert and pay for data BUT first, get your Vision and Framework built
- 9. Profit and Loss1 to 3 year “Plans”Profit and Loss Projections SummaryIncome / Revenue (~ 5 line items)Service linesProduct CategoriesSubscriptionsCommon MistakesPricing model part of Sales and Marketing Strategy – better be believable otherwise all this work is “unbelievable”Expenses (~ 5 line items)CategoriesStartup CostsSales and MarketingCost of Goods SoldOperationsGeneral BusinessCommon MistakesOne time expenses are not one timeProduct built, how will it be maintained, shelf life?Sales and Marketing reasonable % of revenue, prior to sales, first 6 months, ongoingUnderestimating expenses (Legal, HR, marketing materials)
- 10. Case StudiesOutdoor ProLinkB-cycleSpecpanCRUDESpeedbag – iPhone App
- 11. Self ReflectionWhat are you good and not good at?Not tasks but behaviorStrategic Thinker, Visionary, Customer Focused, Detailed, Decision Maker by gut or data, ProcessSTRONGLY recommend you figure this out – you don’t change these types of thingsWith that said…you will learn and do (legal, hr, accounting)
- 12. Everything is PossibleAmadeus Consulting Guiding PrincipleSo think of all the ways to make something happen…and then evaluateROIFundingPartneringConsultantsHiringROI of not doing it