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Ideas, Enterprise Concepts, and Business Plans

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Ideas, Enterprise Concepts, and Business Plans Outline Creativity and ideas Business models Missions Business plans The idea machine Creative ventures Invention ... – PowerPoint PPT presentation

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Title: Ideas, Enterprise Concepts, and Business Plans


1
Ideas, Enterprise Concepts, and Business Plans
2
Outline
  • Creativity and ideas
  • Business models
  • Missions
  • Business plans

3
The idea machine
4
Creative ventures
  • Invention completely new service or product
  • Extension new application of an existing product
    or set of resources
  • Synthesis combines innovation and adaptation

5
Idea generation mechanisms
  • Brainstorming
  • Focus groups
  • Surveys

6
Why Social Enterprises FailIdeas ? Opportunities
  • Bad ideas
  • Good ideas that are not opportunities

7
Maslows Hierarchy
8
The Hierarchy of Social Enterprise Opportunities
9
Opportunity sources
  • Technological change
  • Public policy shifts
  • Changes in public opinion
  • Changes in taste
  • Social and demographic change

10
Outline
  • Creativity and ideas
  • Business models
  • Missions
  • Business plans

11
Business models
  • A business model is a blueprint for how an
    organization intends to create value
  • Business model components
  • The mission
  • Strategic resourceswhat we need
  • Partnership networkwho we will work with
  • Service interfacehow we connect to clients,
    donors, etc.

12
A Business Model
13
Business model threats
  • Is it an opportunity (demand side threats)?
  • Is it economically feasible (supply-side threats)?

14
Outline
  • Creativity and ideas
  • Business models
  • Missions
  • Business plans

15
A sample mission
  • The XYZ organizations mission is to provide
    youths from low-income neighborhoods with the
    academic skills and learning opportunities they
    need to succeed, and to provide college students
    with the opportunity to understand and help meet
    those needs in order to promote their own
    development as leaders.

16
4 Mission Questions
  • What will the enterprise do, and what will it not
    do?
  • What does value mean for this enterprise, and
    how is it measured?
  • What is this enterprises unique innovation or
    adaptation?
  • What constitutes success for this enterprise?

17
A better mission statement
  • The XYZ organization provides low-income youths
    with the academic skills they need to succeed in
    life, and gives college students the opportunity
    develop their leadership abilities. The first
    program of its kind in New York City, XYZ matches
    at-risk kids with students from local
    universities who mentor them in basic academics,
    and provide real-life role models of academic
    success. Our goal, while reaching as many young
    people as possible, is to create a model for
    learning and teaching that others will emulate in
    New York and across America.

18
Outline
  • Creativity and ideas
  • Business models
  • Missions
  • Business plans

19
Business plans
  • A social enterprises manual for key
    constituents
  • Actual and potential funders
  • Government officials
  • The community
  • The social entrepreneur
  • Actual and potential staff and volunteers
  • Board members

20
Business plan components
  • Business plan summary
  • Description of the enterprise
  • The team
  • The market and industry
  • Marketing and fundraising
  • The financial plan
  • Goals and objectives, with a timeline
  • Risk assessment
  • Supporting documents
  • See Class web page for sample B-plans

21
Summary
  • What is the venture?
  • Why is it new and important?
  • Who will benefit from it, and how?
  • How (in general terms) will the idea be executed?
  • Who is the social entrepreneur, and what unique
    skill, service, or background does he or she (or
    they) bring to the venture?
  • What kind of support for the enterprise is
    needed, and how much of it?
  • What will constitute success?

22
Enterprise description
  • The idea, and why it is an authentic opportunity
  • The mission statement
  • Definition of value, and how it is to be measured
    (2-25 class)
  • Key innovations or adaptations
  • Competitive advantage
  • The social enterprises legal structure
  • Current status of enterprise

23
The enterprise team (4-7 class)
  • Management
  • Board
  • Advisors
  • Early donors

24
Analysis of the market and industry (2-18 class)
  • Industry description
  • Target market
  • Expected position and share in target market

25
Enterprise marketing and fundraising (2-18 class)
  • Fundraising targets and strategies
  • Grant-writing plans
  • Pricing plan
  • For-profit activities
  • Marketing

26
The financial plan
  • Financial needs for 3-5 years
  • Financial projections
  • (Income statements)
  • Cash-flow projections
  • (Balance sheets)

27
Enterprise goals and objectives
  • Definition of success
  • Intermediate goals and success measures
  • Evidence that goals can be achieved
  • Timeline
  • Start of the enterprise
  • Incorporation date, if any
  • Hiring, space, and equipment acquisition
  • Start of service delivery
  • Beginning of cash flow from fees, grants, and
    donations
  • Enterprise growth milestones
  • Goal attainment

28
Enterprise risk assessment
  • Financial risk
  • Legal risk
  • Talent risk
  • Environmental risk
  • Political and governmental
  • Economic
  • Demographic

29
Most common B-plan pitfalls
  • Failing to communicate realistic goals
  • Failing to anticipate problems, lack of evident
    commitment or dedication to the venture
  • Lack of experience
  • Failure to demonstrate market niche
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