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Tools for Transforming Ideas into Strategy

Tools for Transforming Ideas into Strategy. By Eliza Chute and Kym Cole. Founders of Interprise Investment Fund Organizing partners of Gazaab Interprise @ SmallWorld Entrepreneur Creation Challenge. Eliza Chute Penn Grad ’10 Earth Rights International Kym Cole Penn Grad ’11

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Tools for Transforming Ideas into Strategy

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  1. Tools for Transforming Ideas into Strategy By Eliza Chute and Kym Cole

  2. Founders of Interprise Investment Fund Organizing partners of GazaabInterprise @ SmallWorld Entrepreneur Creation Challenge Eliza Chute • Penn Grad ’10 • Earth Rights International Kym Cole • Penn Grad ’11 • Fulbright Scholar

  3. Contact Us! www.gazaab.org GazaabInterprise @ SmallWorld Entrepreneur Creation Challenge kymcole35@gmail.com

  4. Idea Ping Pong

  5. Directions: 1) Form groups of 5 to 6 people. 2) One person should take 2 minutes to explain his/her business idea. 3) As the speaker is explaining, each member of the group writes down ideas and suggestions on a post-it. 4) Next, each member of the group shares his/her ideas with the speaker. 5) Don’t forget to give the speaker your post it!

  6. Business Model Canvas

  7. What is it? • Business Model: describes the rationale of how a business creates, delivers, and captures value • Business Model Canvas: a tool to analyze, discuss and describe a business model • Blueprint • 9 Basic Building Blocks

  8. Customer Segments • Customers can be divided into different segments based on common needs, behaviors, etc. • Customer groups represent different segments if • They are reached through different channels • They require different relationships • They have largely different profitability

  9. Different Types of Customer Segments Mass Market Niche Market Segmented Diversified Multi-Sided Platform

  10. Example • For whom are we creating value? • What are our customer segments? • Who are our most important customers?

  11. Customer Relationships Describes the types of relationships a company establishes with specific Customer Segments. Possible motivations: Customer acquisition Customer retention Increasing sales

  12. Example • What type of relationship does each of our Customer Segments expect us to establish and maintain with them? • Which relationships have we established? • How costly are these relationships?

  13. Value Propositions • Reason a customer turns to one company over another • Solves a problem or satisfies a need • New offer or existing offer with added benefits • Each VP is a bundle of products or services that satisfies the requirements of a specific customer segment

  14. Example • What value do we deliver to the customer? • Which one of our customer’s problems are we helping to solve? • What bundles of products and services are we offering to each Customer Segment? • Which customer needs are we satisfying?

  15. Channels Describes how a company communicates with and reaches its Customer Segments to deliver a Value Proposition.

  16. Example • How do our Customer Segments want to be reached? • Which channels work best and are most cost efficient? • How can we integrate our channels with customer routines?

  17. Revenue Streams • Represents the cash a company gets from each of its customer segments • 2 different Types of revenue streams • Transaction and recurring

  18. Different Ways to Generate Revenue Streams Asset sale Usage fee Subscription Fees Lending/Renting/Leasing Licensing Brokerage fees Advertising

  19. Example • What are the customers willing to pay for the value? • What do they currently pay? (competitors) • What does each revenue stream contribute to overall revenues?

  20. Key Resources The most important assets required to make a business model work. Types of resources: Physical Intellectual Financial Human

  21. Key Activities • The most important things a company must do to make its business model work • Categories of Activities • Production • Problem Solving • Network/Platform

  22. Example • What key activities do our value propositions require? • Distribution channels? • Customer relationships? • Revenue Stream?

  23. Key Partners The network of suppliers and partners that make the business model work. Motivations for partnerships: • Optimization and economy of scale • Reduction of risk and uncertainty • Acquisition of resources and activities

  24. Cost Structure • The costs incurred to operate a business model • What type of business is it? Cost Driven Value Driven

  25. More Resources • http://www.businessmodelgeneration.com/canvas • http://alexosterwalder.com/ • http://www.growingsocialventures.org/en/course-content/social-business-model-canvas

  26. Founders of Interprise Investment Fund Organizing partners of GazaabInterprise @ SmallWorld Entrepreneur Creation Challenge Eliza Chute • Penn Grad ’10 • Earth Rights International Kym Cole • Penn Grad ’11 • Fulbright Scholar

  27. Contact Us! www.gazaab.org GazaabInterprise @ SmallWorld Entrepreneur Creation Challenge kymcole35@gmail.com

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