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Form Submission is restrictedForm is successfully submitted. Thank you!Purpose & InstructionsCore StrategyResourcesOperationsFinancialsAppendix & ReferencesPurpose: This template is designed to help you summarize and analyze the key points of your business to determine how you plan to create, deliver, and capture value for your stakeholders. Through this template, you will lay out the plan for what your business needs to launch, and illustrate that you are representing the core aspects of your business to ensure you have the resources you need to sustain your business. Each section follows the Barringer & Ireland (2018) business model template to guarantee that you are not missing a pivotal piece of information about your business needed to launch. There are four primary categories, with a total of 12 secondary categories spread among each primary category. Instructions: While there is not an ideal number of pages to have for each category; just be sure to fill this out as detailed as possible for each category. Be sure to include quantifiable data, references to the data, and appendices with additional insights into your business (e.g., financial reporting, customer discovery interviews, supplier agreements). I also suggest writing a brief paragraph summary for each of the primary categories once you’ve done the detailed analysis, to be sure that you’re able to summarize this information to any stakeholder who asks. Business MissionDetails why the business exists and what it’s supposed to accomplish.1. Business Thesis StatementThis is where your business thesis comes into play, which is one coherent statement: Customer Segment will buy product/service because value proposition. Remember: value propositions are customer focused and consist of 3 parts: Why are you doing this for the customer? How are you going to make this happen? What are the features that differentiate your product from others in the market? Basis of DifferentiationExplains what causes consumers to pick one company’s products over another’s1. Customer Relationships Things to include:. Discuss how you will get, keep and grow customers. Describe specifically how customers will engage on an ongoing basis. 2. Competitors Things to include:. Discuss how you will get, keep and grow customers. Describe specifically how customers will engage on an ongoing basis. Product/Market ScopeDefines the products and markets on which the business will concentrate.1. Industry Overview An industry is a group of businesses producing a similar product or service. Things to include: Specify which industry(ies) the product/service will compete and a short description of this industry.br> In some cases, the product/service falls into more than one industry. In this case, describe both industries. Remember:Use quantifiable arguments (the numbers).2. Market Segment Things to include: Describe the various segments of this market and their attributes. Also discuss this in the following terms: Total Addressable Market, Serviceable Addressable Market, Serviceable Obtainable Market Remember:Use quantifiable arguments (the numbers).Target MarketIdentifies the exact potential current and future customers (niche market)1. Customer DiscoveryThis piece requires you to conduct customer interviews! This part will help you to describe the customer in extreme detail. This includes: Identifying people that fit your ideal customer description (e.g., end user) Include details about the person, their pains and gains and specific quotes that stood out in the interview. Summarize your key findings (in one sentence) from each interview in the Customer Discovery Excel file under the Summary tab. Remember: Provide as much detail/specificity as possible about who your customer is. Core CompetencyWhat is your business doing for the customer1. Pain RelieversThings to include:. Based on customer discovery revelations from the Core Strategy primary category, here you need to detail what the customer needs are. Specifically, say what they are frustrated with in the current marketplace and what products/services they are looking for, in relation to existing products/services or a lack of available products to meet a particular need of the customer. 2. Gain CreatorsThings to include:. Discuss how your proposed solution will provide value to the customer in terms of a gain (i.e., what will your product do for them to make their life better). This is where you apply the things you learned from your Customer Discovery interviews. While your Core Strategy category seeks to explain the exact market you’re targeting, this section outlines what your business can do for that market. 3. Minimum Viable ProductThings to include:. Close the discussion with the MVP discussing how you chose the feature to provide and which one you chose not to offer. Key AssetsDetails the assets that a business owns that allow them to develop and deliver their product to customers1. Physical AssetsThings to include:. These can be anything from property, plant, and equipment, such as a physical location, machines, or inventory you currently have that will enable you to quickly meet customer needs. Be specific here and give details on not only what these things are, but why they are important to your business. 2. Financial AssetsThings to include:. These can be anything financial about your business, such as cash on hand, funding from financial institutions or individuals, etc. You can also classify investors as a financial asset as well, since they provide more than just funding. 3. Intellectual AssetsThings to include:. Here you should talk about any intellectual property (IP) your company owns (i.e., patents, trademarks, copyrights) Be clear on what value this IP provides your company in terms of competitive advantage 4. Human AssetsThings to include:. This is you and your team! Be clear here why you chose the team you did and what value they each add to your business. This is an important part of being able to sell - frequently investors will buy into the individual, not just the product/service Product/Service ProductionDetails how the business intends to manufacture goods or services1. ProductionThings to include:. Who your suppliers are (i.e., the people making the product for you to sell)? What are they supplying you with? Why are these suppliers important to your business? Remember: This is about the actual supply chain and production of your product. This means understanding who is making your product for you and all the suppliers that go into making your product viable for your customers. ChannelsDescribes how the customer will acquire the product in detail and how the business plans to deliver its product or service to its customers1. DistrubtionThings to include:. Who are your distributors (i.e., the people getting the product from you to the customers)? This could be retailers (e.g., Target, Best Buy) or other businesses (e.g., Ericsson supplies telecom services to Verizon, who in turn uses that to sell cell phones) Why are these distributors the best option for your business? Remember: This is similar to the customer relationship piece in the Core Strategy primary category and Part 1 above about production, but instead of the marketing tactics used to make customers aware or how you’re making the product, this is about the actual supply chain and distribution of your product.Key StakeholdersIdentifies who the individuals are that are key to your business’ success (social networks, local community organizations, investors, trade associations, etc.)1. Primary & Secondary StakeholdersThings to include:. Who are these key stakeholders? Why are they important for your business? What are they doing for you? This could be supplying word-of-mouth marketing (e.g., Social Media Influencers), community groups you offer pro-bono services to in order to gain goodwill (e.g., local food banks, homeless shelters, etc.), investors or members of the board of directors Remember: These are different from the competitors you discussed in the Core Strategy primary category. While those are businesses you are attempting to “steal” market share from, key stakeholders are ones that help make your business successful. Revenue StreamsDescribes how your business will make money, including your pricing1. PricingThings to include:. Your pricing strategy for the different aspects of your product or service, down to the price of a single unit. Why this is your strategy (i.e., how you came up with the price per unit)? 2. RevenueThings to include:. Describe how this revenue is generated Specifically include details on why you think you’ll be able to generate this much revenue? How did you come up with number of units sold? Cost StructureDetails the costs your business will incur that determine your margin1. Cost per UnitThings to include:. Discuss the associated costs and relate it back to unit economics. How did you came up with that number for the per unit cost? Why you think these are necessary costs for the business to incur. Remember: Be sure to calculate your margin per unit!2. Fixed & Variable CostsThings to include:. Describe what costs you expect to incur. Include a summary breakdown of fixed and variable costs and discuss how economies of scale would impact the cost structure. FundingIdentifies where you will get the financing you need to start your business1. Type of FundingThings to include:. Where are you going to get the money to make this product available to customers? What is this money for? Remember: The amount of money you are asking for should match with the normal amount each of these funding groups will typically give and the stage of your business at that point. For example, you don’t want to ask business angels for $50M, as this is typically the financing venture capitalists would provide. Similarly, you don’t want to go to a venture capital firm with a pre-revenue business idea, as this is typically when business angels invest. 2. Amount of FundingThings to include:. How much funding do you need? Is this in addition to prior funding? If so, why do you need more? 3. ValuationThings to include:. What is the calculated valuation of your business based on the funding you’re requesting? How did you determine this number? Remember: This is about the actual supply chain and production of your product. This means understanding who is making your product for you and all the suppliers that go into making your product viable for your customers. File Upload Upload% Completed0Things to include:. Include additional information to support your business model (Summary Findings of Customer Discovery, Other Data and Information (e.g., market research, etc.), Pro-Forma Income Statement) citations from the sources where you found your information and data. SubmitPowered by ARForms (Unlicensed)
