Week 3

IT 01203TECHNOPRENEURSHIP

Presentation byMohd Yuszren [email protected]

016-8436009

Mohd Yuszren Yusak | yuszren@gmail | 016-8436009

http://likasz.wordpress.com


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


What is a Business Plan

Objectives of our B-Plan:

1. To assess the reliability of business.

2. To attract potential investors.


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)


B-Plan format

EXECUTIVE SUMMARY PRODUCT AND SERVICE DESCRIPTION TECHNOLOGY DESCRIPTION MARKET AND COMPETITION BUSINESS MODEL


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


PRODUCT AND SERVICE DESCRIPTION

The focus here is more on the technical aspects of the product and services.


However, you need to remember that the audience are not scientists and thus do not delve (look into) into the technical area too deeply.


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.


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-


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


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


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.


Examples of Unfair Advantage

IKEA

Stylish, quality furniture

Knockdown format Affordable

Unique and fun buying experience.


Chicago






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


Supply chain in action …wiki




STARBUCKS

Zero advertising

Expensive

Designer coffee

Provides the place to “chill-out”.


* 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)


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.

Technology

Week 3