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IT 01203
Technopreneurship
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The B-Plan
1. The Business Plan2. Why do we need a B-Plan3. Format?
What’s a B-Plan
A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
-Wiki-
Why Business Plan??
• Test feasibility• To give business best opportunity to success• Help make business planning• To attract investors, funding partners
Our Format
• Based on MDEC’s IHL B-plan• Why?1-best ideas will be submitted to MDEC-2-easy, simple, complete
Where to gethttp://www.technopreneurdevelopment.net.my/cms/library/file.asp?file=879Or google : mdec IHL
where do we go from here?
IE 01203
IHL Business Plan
MDECPre-Seed
FundRM150K
Final YearProject
1st Year 2nd Sem
2nd Year 1st Sem 2nd Year 2nd Sem
3rd Year + Practical
What do we need to have?
1. Executive Summary2. Product or Service Description3. Technology Description4. Market & Competition5. Business Model
Our B-Plans Objective
1. To measure the viability of our ideas2. To identify potential groups for the MDEC’s
IHL B-plan- 2011- RM 5 000 cash winning group and a sweet RM 150K deal before your graduation.
Key facts
• 90% don’t read beyond your executive summary.
• It must be geared to entice the reader to read more, short and sexy.
• It is generally advisable to write the executive summary last when all the details of the business plan are available.
1st B-Plan Assignment
• Due on the 26th February 2010 -12.00pm date/time stamped
• Pejabat Am SSIL• Unless you are the next Google, SUN
Microsystems, FACEBOOK, 2 page report is for ‘bull dung’!
1st B-Plan Assignment
• Product or Service Description• The focus here is the description of your
product or services that you are getting into• The readers expect you know about your
business like you know the back of your hands• Not too technical though, readers are equally
knowledgeable in the business and technical aspect of the industry that you are getting into
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
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
Supply chain in action …wiki
Examples of Unfair Advantage
• STARBUCKS
Zero advertising
Expensive
Designer coffee
Provides the place to “chill-out”.
Ali café vs Starbucks
* 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
1. Describe your product & services in great details.
2. Find references3. Research, research, research (library,
magazines, Google it)4. Submit in a report format.
Be realistic
Keep it real!