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What is YOUR venture identity?

What is YOUR venture identity?. Feasibility & Desirability. It is one of the CH1 concepts It is the foundation of your assignment #2 It is this week’s key topic & reading Business model 7 components in the book chapters? 5 components in your take-home? Feasibility analysis

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What is YOUR venture identity?

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  1. What is YOUR venture identity?

  2. Feasibility & Desirability • It is one of the CH1 concepts • It is the foundation of your assignment #2 • It is this week’s key topic & reading • Business model • 7 components in the book chapters? • 5 components in your take-home? • Feasibility analysis • 3 interrelated components?

  3. Business Model (Take-Home Assignment) 1 4 2 Provide details of these 5 elements for your [named product/service] a.k.a. core competency What’s your VRIN? What problem will you solve? Broad- or narrow-scope? 3 5

  4. Feasibility Analysis

  5. Recap of last Class

  6. Feasibility Analysis

  7. Industry & Market Feasibility

  8. In-Class Exercise Name Porter’s 5 forces for your [named product/service]

  9. Agenda for today

  10. Feasibility Analysis

  11. What went wrong with Segway? • Projected sales: 10,000 ~ 50,000 units in 12 months • Actual sales: 6,000 units in 21 months

  12. Product or Service Desirability • Secondary research • White papers, internet, demographic/census data, directory/listing • Simplified customer survey • $20 Starbucks test on random people • Focus Group • Concept test on “potential customers” • Buyer Intent • Prototypes

  13. Focus Group Concept Test • Ask 8~12 “potential customers” to provide you in-depth feedback • List 3 things you like about the product or service idea described • Provide 3 suggestions for making the idea better • Do you think the idea is feasible (i.e., is a realistic or viable business idea)? • Provide any additional comments or suggestions you think might be helpful (including red flags)

  14. Buyer Intent Survey • Ask 50 “potential customers” • How likely would you be to buy the product or service described? • Definitely, probably, might or might not, definitely not • How much would you be willing to pay for the product or service? • Where would you expect to find this product or service for sale?

  15. Business Model (Take-Home Assignment) Provide details of these 5 elements for your [named product/service] 8 7 6 9

  16. What comes Next?

  17. Feasibility Analysis

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