class slides after midterm Flashcards
ingredients of a winning strategy
understanding strengths and weaknesses
positioning within the context of the competition
positioning against outside forces
unique value proposition
positioning strategy that captures what you do for which customers better than anyone else
porters fiver forces
1.threat of new entry
2. bargaining power of buyers
3. bargaining power of sellers
4. threat of substitute products or services
5. rivalry among existing competitors
SWOT
internal and helpful: strengths
internal and harmful: weaknesses
external and helpful: opportunities
external and harmful: threats
customer segments
include users and buyers
2-sided marketplace
early adopters
problem
what specific problems are you solving for your users
solution
what are your desired outcomes for your users
UVP
what is unique about your solution
key metrics
what metrics will indicate that customers are “buying” or “using” your product
questions to consider about revenue
who are your customers?
where is your revenue coming from?
Who are your donors/contributors?
fixed-overhead costs
deals with the operation of the business
ex. rent, wages for employees, legal fees
Big question to ask about assumptions
Does it make sense? Is it realistic? What are we missing? Does it pass the “sniff” test?
cost structure
what are the key costs incurred to develop and operate your venture ideas business model?
profit
revenue - expenses
pitch structure
- attention grabber and hook
- the problem
- solution to the problem
- UVP
- target customer
- progress
- financial
- close
