Post on 16-May-2015
description
IT 01203TECHNOPRENEURSHIP
Presentation byMohd Yuszren Yusakyuszren@gmail.com
016-8436009
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
http://likasz.wordpress.com
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
WEEK 3
READY FOR BUSINESS???
What is a Business Plan?How to write a B-Plan
1st Assignment (Product/Service Description)
How to write your 1st Assignment
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
What is a Business Plan
Objectives of our B-Plan:
1. To assess the reliability of business.
2. To attract potential investors.
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
So What is a Business Plan?
A written document that describes a business, its objectives, strategies, market and financial forecast.
- (print.smallbusiness.findlaw.com/starting-business/starting-business-overview/starting-business
overview-glossary.html)
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
B-Plan format
EXECUTIVE SUMMARY PRODUCT AND SERVICE DESCRIPTION TECHNOLOGY DESCRIPTION MARKET AND COMPETITION BUSINESS MODEL
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
How to write B-Plan?
Your business is only as good as your business plan. Good business plans:
give you a clear idea of your goal and targets
clarify the means for achieving your goals
determine your financial needs highlight your ability to raise capital
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
PRODUCT AND SERVICE DESCRIPTION
The focus here is more on the technical aspects of the product and services.
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
However, you need to remember that the audience are not scientists and thus do not delve (look into) into the technical area too deeply.
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
The reader will expect that you have the technical know how to deliver this product/service and it will be highlighted accordingly in the management session.
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
What to do here? Step 1
This is the KEY section to IDENTIFY your
1. technology 2. services & solution
that your company is best at, which will bring profit to your business.
e.g-
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Step 2- Research
In-depth understanding of technology hygiene– Analysis and research– Trends, technology and innovation– Sunset or sunrise?– Environment balances– Future direction
Are you Leading or Following technology?
Keeping up – cioinsight.com– technologytrends.com.sg/contacts.html
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Step 3 –Market potential
1. Is there a market for the product / solution?
2. Describe your potential customers and reasons to purchase.
3. Size of market (secondary data from magazines ect…)
4. Describe the competition and competitive advantage of your product / solution
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Step 4Identify your ‘Unfair Advantage’
What is an ‘unfair advantage’? “What you can do better than your
Competitor?”
You have to have a precise answer, a vague answer is as bad as no answer.
It describes your distinct competence.
It is your unique differentiator.
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Examples of Unfair Advantage
IKEA
Stylish, quality furniture
Knockdown format Affordable
Unique and fun buying experience.
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Chicago
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Examples of Unfair Advantage
DELL– Uses leading-edge supply chain
management– Real-time inventory = zero obsolesce– Provides clients with customization– Passes efficiency and costs reduction to
clients.
Supply chain management (SCM) is the management of a network of
interconnected businesses involved in the ultimate provision of product and service
packages required by end customers
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Supply chain in action …wiki
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
Examples of Unfair Advantage
STARBUCKS
Zero advertising
Expensive
Designer coffee
Provides the place to “chill-out”.
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
* Format*
Describe product/solution (2 points each)
Describe key features/uniqnues
What are the key benefits to customers?
Show us the product/solution (if available)
Briefly explain the underlying technology.
Intellectual Property (IP) (if applicable) (extra points if lucky)
Mohd Yuszren Yusak | yuszren@gmail | 016-8436009
1st Assignment (due 1 week 11thFeb)
1. Describe your product & services in great details.
2. Find references3. Research, research, research (library,
magazines, Google it)4. Submit in a report format.