www.enterpriserich.co.uk beta #model selling your vision
TRANSCRIPT
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Skills and Roles
YouSoft Skills Hard Skills
Skills Mapping& Social Capital
Your Team ?
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Are you a detail person or a big picture
person?
Are you future focused or set in the present and learning
from the past?
Are you best following a process or innovating?
Do you work better in a linear fashion or
scatter-gun?
Do you say “about £10” or do you say “£9.89”?
When are you at your best?
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THE TEAM
Are you a detail per-son or a big picture
person?
Are you future focused or set in the present and learning
from the past?
Are you best fol-lowing a process or innovating?
Do you work bet-ter in a linear
fashion or scat-ter-gun?
Do you say “about £10” or
do you say “£9.89”?
When are they at their best?
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Are they detail peopler or do they see the big picture?
Are they future focused or set in the present and learning
from the past?
Are they best following a process or innovating?
Do they work better in a lin-ear fashion or scatter-gun?
Do they say “about £10” or do they say “£9.89”?
When are they at their best?
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Evidence:I do X using Y skills which shows that I am Z which is important for our business to do ……
“I have been a member of the student council for 2 terms, I have to have strong organisational skills and be excellent at working with people to do this successfully. Being organised and getting the most from people will be crucial for our businesses success”
Soft SkillsLeadership Sales Motivation Objectivity
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Evidence:I do X using Y skills which shows that I am Z which is important for our business to do ……
“I have been a member of the student council for 2 terms, I have to have strong organisational skills and be excellent at working with people to do this successfully. Being organised and getting the most from people will be crucial for our businesses success”
Hard SkillsFinance / Design / Programming /
Business Knowledge / Research / Data Analysis
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RolesFinanceSalesProduct DevelopmentProduct DesignUXManagement
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Exercise 1
Begin to map each others skills.Brain storm your teams skills & evidence. Remember to look at hard skills and soft
skills
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The Skills GapYou will always have a skills gap!
• What skills gap do you have right now? • What tasks do you need to do immediately?• What tasks do you need to do for Beta?
• What skills gaps can you foresee in the near future?• What gaps do you have?• Who can fill those gaps that you already know? ….call in favours!• What don’t you know? • Who can help you understand your skills gap?
The Lean Approach:
"Where can you get these skills as cheaply and efficiently as possible?”
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Social CapitalWhat is social capital? How can you extend yours?
How are you discovering your skills gaps & filling them by increasing your social capital?
The Business Model
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Business Model
Value hypothesis & growth hypothesis
The business model will most likely be in two parts:
1.The value hypothesis… i.e. “ME Ltd does X
which is valuable to customers because of Y”
2.The growth plan…i.e. “existing
customers do A which creates growth by B”
value / growth / income
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Business Model
value / growth / income
There are a myriad of different ways that a business model works when you look at the detail. Try to create a simple sentence or two that define your business model. Here are some questions and ideas to help:
What is the value hypothesis?• What does your business do / make?• Why is that valuable for a customer?• Why is that more valuable than the alternative?• What generates income? (customers pay X for Y)
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Business Modelvalue / growth / income
The growth plan – i.e. “existing customers do A which creates growth by B.”
“Your growth plan doesn’t have to be world domination but every business needs to grow and evolve.”
What is the growth plan?• Does each customer spend more money or do you get more
customers?• Where do new customers come from? Why do they come?• What generates the growth (state your main method):
1. Word of mouth2. Usage (ie new customers see existing customers using it3. Advertising4. Repeat purchase
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Business Modelvalue / growth / income
• Subscriptions • ecommerce • Advertising• In-app payment
You know your value proposition and your growth hypothesis. Where does your revenue come from?
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Business Modelvalue / growth / income
Ad revenue guide:• CPM is ‘Cost Per Thousand’• CPC is ‘Cost Per Click’ (or PPM & PPC)• CPM = 80p x 1,000 views (up to £5 when established)
CPC is highly variable depending on specific click, work on CPM for now.
www.compete.com gives page view indications
NOT
TRUE
98,744 / 1,000 ≈ 99. 80p x 99 = £79.20pcm
Ads on Barclays homepage = £950.40pa
Exercise 2
Can you state your business model in once sentence? In a tweet?
@idea_awards@EnterpriseRich
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Usual start up costs:
• People• Buildings• Resources• Production• Route to market• Fixed vs Variable
LEAN LEAN LEAN
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How quickly and cheaply can you get an MVP ready?What’s the minimum needed to show a potential customer?What would you want to learn? How quickly can you learn it?
Ask the right questions. Not ‘mum do you like my logo?’, not even ‘would you use this?’. Maybe what do you use? What
have you downloaded & deleted? Why? What annoyed you?
“The best investment will be those that learn important information, quickly, for little cost!”
Minimum Viable Product
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• Would you lend you £2,500? • What will you do with the investment? • How have you ensured the best return on
that investment?
“What are the difficult questions that are going to make or break you?
You need to ask them!”
Immediate Investment
