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What is a business model? Opportunity Recognition Workshop

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Discuss with your neighbor what a business model is and

write down your definition

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Which elements did you mention when you defined a

business model?

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What is a business model really?

“a business model describes the rationale of how an organization creates, delivers, and captures value”

A. Osterwalder, et al.

“the plan implemented by a company to generate revenue and make a profit from operations. The model includes the

components and functions of the business, as well as the revenues it generates and the expenses it incurs”

Investopedia

“the word you've entered isn't in the dictionary” Merriam-Webster

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One example tells more than a thousand words

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Business model only for startups?

No! Ecosystem might be different, principles are the same

§  New product or service within existing company

§  License your technology §  Release open-source software package §  Etc.

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“Business model: a single diagram that describes your

business”

“Business plan: a document investors make you write

that they don’t read”

Steve Blank

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§  Cover page and ToC §  Executive summary §  Business description §  Business environment §  Industry background §  Competitor analysis §  Market analysis §  Marketing plan §  Operations plan §  Management / team §  Financial plan §  Attachments and

milestones

Business Plan Format

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Questions?

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