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The Entrepreneur’s Matrix
A step forward towards your dream
BY ABHAY KUMAR
Objective
To create a system which helps entrepreneurs to measure clarity of business ideas and its execution plan.
Its scope1) Any idea which have potential to generate business
2) Any business idea which needs focused approach towards its objective
3) Any business plan which is focused towards B2C-Business to Consumer Market (thought you can use this for B2B-Business to Business by using Product/Market/Customer attributes with is important in Business to Business market)
Limitation
1) Any idea which is not related to business.
2) It do not predict success of your business
3) During validation checks, clarity of idea depend up on valuator's capability to understand different aspect of business
Contents1. Business Components
2. Entrepreneurship Matrix
3. Entrepreneurship Matrix Barometer
4. Entrepreneurship Matrix Validation Levels
5. Clarity Barometer
6. Make Your Own Matrix
Business Components
Based one seven basic components of business
Business Idea
Resources
Entrepreneur
Market
Customer
Product
Business Components
Financial projections
Entrepreneur’s Matrix
Based on the different attributes which are integral part of the business components
)FINANCE )FINANCE
FINANCE
COMPETITION
AGE GROUP
QUALITY
VISION
RISK
P
E
R
S
O
N
A
L
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O
M
M
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KNOWLEDGE
PRACTICALITY
M
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F
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INOVATION
COMPETITIVE ADVANTAGE
PENETRATION
SKILL AND KNOWLEDGE LEVEL
B
R
N
D
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N
G
C
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S
U
M
E
R
F
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D
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Y
A
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D
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W
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K
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Entrepreneur
Business Idea
Resources
Product
Customer
R
E
S
O
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R
C
E
Market
Financial projections
MAJOR OPERATIONAL EXPENSES
BREAK-EVEN POINT
B
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K
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VE
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P
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F
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What do the attributes mean?
Entrepreneur• Vision-Ability to dream and have strategy in place to
complete it.
• Risk –Risk Taking Capacity
• Commitment
• Personal Resources/Relations-Money, Intelligence,Networking
Business Idea
1) Innovation-Any thing new about your business
2) Practicality-How practical is your idea
3) Focus-Are your business idea is focused towards a particular line/domain of business
4) Time bound-Do you have specific time lines for your business idea.
Resources
1) Finance-How you going get your financial investment?
2) Knowledge-What kind of technical and functional knowledge/resources you require in your business?
3) Material-What kind of materials you required e.g. land computers?
4) Networking-Do you have people to support your business and to help it to grow?
Product
1) Consumer friendly-Easy to use ,less complex with regards to other products available in market
2) Branding-What image you want to create in consumers mind
3) Quality-How dependable is your product wrt to other product
4) Competitive Advantage-Why should customer buy /use your product?
Market
1) Competition –Kind of competition you are going to face in the market
2) Visibility-How will you make your product visible in market
3) Penetration-How are you going to build your consumer base and be able to attract competitor’s consumers?
4) Availability-How easily can customer reach to your product?
Customer
1) Skill and knowledge level - kind of knowledge or skill required to operate/use your product
2) Trends-knowledge of consumer trends regarding your product category.
3) Age group-Which age group you are targeting and why ?
4) Income range-Which strata of society your are aiming and why?
Financial projections1) Revenue sources –Revenue Sources like Product selling,
service selling etc
2) Major operational expenses –Salaries of employees ,office rent ,software maintenance fee
3) Break-even point-Strategy and Time line in terms of profit earning
4) Future investment –Investment for diversification ,
investment backward or forward integration of business for growth business
Entrepreneur Matrix Barometer
Your Score
< 84
Ready to start
Between 84 and 56
More preparation required
>56
Not ready
Go to your dash board again
Status
Entrepreneur Matrix Validation Levels
Validation/check levels will help entrepreneurs
•To understand different ideas and opinions of there stakeholder and investors about there business idea/plan
• To help them to comprehend and align there ideas/plan more accurately and clearly w.r.t to stakeholders and investors inputs
Clarity Barometer
Clarity barometer is combination of decisions making tool like SWOT analysis,Six thinking hat and negative analysis to help entrepreneurs to understand and clarify given attribute
How it works:
•Clarity matrix provides our clarity level/status based on your input which provides data to barometers inbuilt formula
•Out put is in % and that shows our clarity status
Read it properly before filling and go according to instructionsClarity barometer
Level 1
1) Self validation check
-Use Enterprise Matrix Barometer to check your clarity of business idea and plan
Level 2Stakeholders validation check -You can provide this matrix to your stake holders to validate your business idea/plan
Attribute Score
<= 3
go with you plan regarding that attribute
Between 1 to 2 Improve your planning
0
Plan your move again
Status
Stakeholder are core group of people who are involved in starting the business
Level 3
Investor validation check
-You can provide this matrix to your investors to validate your business idea/plan
(If Investors gives less then 3 in any of the attribute ,Please clarify with stakeholders/Investor why they think so
and while making plan keep it in mind)
Any individual or institution who is only related with your business through money matters
Make your own Matrix Any system or matrix which can not accommodate changes
according to the need of time ,gets obsolete easily
1)You can create your own matrix by using ideas of this matrix as a base of your own matrix
2) You can add your components, their attributes according to your understanding of business
3) You can move matrix attributes to different component to accommodate your needs.
Thanks to e matrix ……My Journey form E matrix in 2005 to Reliquus Ventures 2008
Company Name: Reliquus Ventures :Established : Mar-2006 Offices : Currently in Pune Core Focus : Person Process Outsourcing (PPO) and Recruitment Process Outsourcing (RPO) Industry.
IT Infrastructure
Continued…
Services Units Brands
Relocation Pune Life
Real Estate Home Solutions
Travel In association with Ooshma Travel Solution Pvt Limited
Concierge
Recruitment TekJobz
Continued…Some of our Clients
Thanks for using the matrixSuggestion and new ideas are always welcome
Mail [email protected]