Business Model

Business Model is a three dimensional representation of a person or thing, typically on a smaller scale. It is a figure made in clay or wax which is then reproduced in a more durable material. It is a simplified mathematical description of a system or process , used to assist calculations and predictions. An excellent example of quality. A person employed to display clothes by wearing them. A person employed to pose for an artist. A particular design or version of a product

Business Plan

Business Plan Don’ts

• Don’t use a business plan to show how you know you know your business
• nobody reads long winded business plans even bankers nor bosses.

 Business Plan Outline

1. Executive Summary – its just a page of two of highlights
2. Company Description – contains legal establishments, history and start up plans
3. Product or service – describe what you are selling and focus on customer benefits
4. Market Analysis – know you market , you need to know your customer needs, where they are and how to fetch them.
5. Strategy & Implementation it should be specific , includes management responsibilities and dates or budgets.
6. Management Team – Background of key member of the team , personal strategies and details.
7. Financial Plan – include the profit and lost, cash flow , balance sheet , break even , analysis , assumptions , business ratios.

 

Elements of Successful Implementation

1. Simple

• is the plan simple easy to understand and to act on?
• does it communicate its contents easily and practically?

2. Specific 

• is the plan specific are its objective concrete and measurable?
• does it include specific actions and dates of completion specific persons, responsible and specific budgets.

3. Realistic

• is the plan realistic are the sales goals, expense budgets and milestones dates realistic?

4. Complete

• is the plan complete, requirements of a business plan vary depending on the context.

Techno Ventures

1. Human Resources

• Research – thinker, idead generator, innovator
• Development – technical people implementor
• Marketing people – involving marketing 
• financer

2. Environment 

• Science parts – incubation centers
• Academic institutions – research and development centers
• Internet Access and communication and other support services
• Geographic Accessibility

3. Laws and Policies

• Intellectual Property Rights
• Technology Licensing Office
• Legal Services

4. Financial 

• Investors 
• Business Sectors
• Funding Agencies
• Financial Services

 

 

 

 

Types of Entrepreneurship

1. Incremental

           -routine business, modest novelty.

2. Imitative

           – Imitation of venture, same business model and Template.

3. Rent-seeking

           – Business that utilizes standards, regulations and laws to share in value of enterprise.

4. Innovative

            – Business based on innovation.

Elements of the Intellectual Capital

1. Human Capital – The Skills, capabilities and knowledge of the firm’s people.

2. Organizational Capital- The patents, technologies, processes, databases and network.

3. Social Capital- The quality of the relationships with customers, Suppliers and partners. 

What is Technopreneurship?

Technopreneurship it is a simple entrepreneurship in a technology intensive context. It is a process of merging technology prowess and entrepreneurial talent and skills. 

Technopreneur is the person who destroys the existing economic order by introducing, new products and services, by creating new forms of organizations and by exploiting new raw materials. It is someone who perceives an opportunity and creates an organization to pursue it. A person who undertakes risks that has the chance of profit. Technopreneurs distinguishes themselves through their ability to accumulate and manage knowledge, as well as their ability to mobilized resources to achieve a specified business or social goal.

Entrepreneurship is a way of thinking and acting that is opportunity obsessed, holistic approach and leadership balanced for the purpose of wealth creation. Searches for change , responds to it, and exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploits change as an opportunity for a different business or a different service. Entrepreneurship pursuit of opportunity without regard to the resources currently under one’s control.

Entrepreneurial Process & Technopreneurial Process

Entrepreneurial Process

1. Opportunity Analysis

2. Business Planning

3. Gathering Resources

4. Implementation

5. Scaling and Harvesting

 

Technopreneurial Process

1. Idea Generation

2. Idea Screening 

3. Concept Testing 

4. Business Analysis 

5. Prototyping

6. Test Marketing 

7. Commercialization 

8. Monitoring

9. Evaluation