Paper? Still a vibrant market

"It took almost 4 years, a few business model changes and 348

investor pitches before...“ (1)

"It took almost 4 years, a few business model changes and 348

investor pitches before...“ (1)

Welcome tobusiness planning!

Agenda• Who I am, in 2 pictures• The entrepreneur, in 2 pictures• Tell everyone about your idea• Plan your business, the first tool

– Customer segment– Value proposition– Customer reltionship– Channels– Revenues

• Plan your business, the first tool– Key parteners– Key activities– Key resources– Costs

• Next steps• Good reads• References• Credits

Who I am

Floriano Bonfigli

@io_floriano

floriano.bonfigli@istao.it

Who I am, in 2 pictures

Practice @ Theory @

The entrepreneur, in 2 pictures

ResilienceUps and downs

Are you ready?

Tell everyone about your idea

Without

getting

people

bored

I am Floriano Bonfigli, founder and CEO of Collabobeat.

The market we are addressing is worth more than €60B and is growing at a 22% rate.

Introduce yourself, it’s just being polite

$how the opportunity

We are developing a digital platform helping doctors share visit notes with their patients. In fact, up to 80% of medical information provided to patients by healthcare practitioners is forgotten immediately. This is bad, very bad ,because patients feel lost and doctors loose their trust.

We have a private beta and are looking for doctors willing to join our community of early adopters, people willing to influence and shape the solution, together with us! Please, put me in contact with some open minded doctor. They will like Collabobeat, so will their patients!

Ask for help, you will not have a second chance

Tell everyone about your idea

(2)

Tell about the probelm you’re trying to solve (no one cares about your solution).

Give your idea a name

Plan your business - rather than writing a business plan

‘‘This is not fair, no one wrote this on the business plan!’’

Probably the most agile tool to start with

(3)

Customer segment

My customer segment, you

Students Young students Young students willing to become entrepreneurs Young students willing to become entrepreneurs in the paper sector

What’s your segment?

Define your segment

Is it well funded?Is it readily accessible to you/your sales force?Does it have a compelling reason to buy?Is there some sort of competition blocking you?When you win this segment, can you leverage it to enter into a new one?Is it cosistent with your values and passions? (4)

Value proposition

My value proposition for you

Being an entrepreneur in the paper sector?

More likely than you think – Fun – Rewarding

What’s your value proposition?

Define your value proposition

Satisfy your customer segment’s top priorityWhat’s the main benefit of your product? Keep it simple: is it better, faster or cheaper?What do your potential customer segment want to gain out of your product? Compare the status-quo not involving your product to the possible state by using your solutionIs it cosistent with your values and passions?

An example of value proposition

Keepit simple!!!

Customer relationship

My customer relationship with you

Based on:i.Transparency, do you remember the 2 pics about being an entrepreneurs?ii.Collaboration, we are on the same page.iii.Trust, the more we trust each other the more we share our knowledge

What’s your customer relationship based on?

Define your customer relationship

Do you want to play the role of the expert, colleague or friend?What do you want to gain out of your relationship with your customer?Is your customer relationship consisten with the market segment and value proposition chosen?

Channels

My channels with you

i. Today’s lecture (off-line)ii. Following and interacting with me through

my Twitter account @io_floriano (on-line)iii. drop me a line on floriano.bonfigli@istao.it

(on-line)

What are your channels for explaining your value proposition?

Define your channels

Off-line: brick&mortars, fairs, conferences, speaking engagements...On-line: your own web-site, third party platforms (e.g. Etzy.com), on-line customer service (e.g. Zopim.com), Twitter profile, Facebook page, Google + page, LinkedIn profile, newsletter...For what purposes? Pre-sales, sales, post-sales, problem awareness, solution awareness...

EtsyThe world's most vibrant handmade marketplace

EtsyPlenty of products made out of paper

Revenue streams

My revenue streams

i. My hourly rate x number or hours, paid by the organizers of this course

ii. Your contacts, namely email addressesiii. You speaking well about me to the organizers of

this course, if deservediv. You referencing me to your networks, if deserved

What are your main two revenue streams?

Key partners

My key partners

i. The organizers of this course, for the logisticsii. My family, for the family logistics...iii. My car, laptop and internet connectioniv. My former experience in the domain

List your key partners

Key activities

My key activities

i. Looking at my previous presentations (pre)ii. Coming up with a new one (pre)iii. This lectureiv. Replying to your emails (post)

List your key activities

Key resources

My key resources

i. My English language skillii. KISS attitude (Keep It Simple Stupid)iii. Continous interaction with the audienceiv. My own time after the lecture

List your key resources

Cost structures

My costs

i. The time I’m here and not somewhere else doing maybe more profitable activities

ii. Electricity when preparing the lecture on my laptop

iii. Today’s expenses: methane, toll, lunch in Fabriano

List your costs

Next steps

Next steps

• Approach 10 potential customers and test your value proposition

- Customers must belong to your segment- Be in inquiry mode rather than sell mode

• What did you learn?

@io_floriano floriano.bonfigli@istao.it

Thanks included!

Good reads1. Annal Vital, How Many Times Should You Try Before Success? http://fundersandfounders.com/how-many-times-should-you-try/

2. Brett Martin, Postmortem of a Venture-backed Startup Lessons Learned from the rise and fall of @Sonar https://medium.com/p/72c6f8bec7df

3. Paul Graham, Do things that don’t scale http://paulgraham.com/ds.html

4. Slava Akhmechet, 57 startup lessons http://www.defmacro.org/2013/07/23/startup-lessons.html

http://fmineiblog.wordpress.com/2013/07/18/the-self-conscious-entrepreneur/(1)

References

(2) * Coppola, A. (2011) What investors want, and how to successfully pitch them. [Presentation] InnovactionLab, Spring 2011.

(3) Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers by Alexander Osterwalder

(4) Disciplined Entrepreneurship: 24 Steps to a Successful Startup by Bill Aulet

Flickr credits@ onigiri-kun

@ Nick Grabowski@ davemmett

@ Raymond Larose@ Nardino

@ angelocesare