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Entrepreneurship

Entrepreneurship. Lesson 6. Agenda. Topics: Review Entrepreneurship Building a Business Creating your Business Model Case Study: Angry Birds Activity: Create your team’s Business Plan. Can you recognize these entrepreneurs ?. You’re Right!. Steve Jobs. Oprah Winfrey.

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Entrepreneurship

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  1. Entrepreneurship Lesson 6

  2. Agenda • Topics: • Review Entrepreneurship • Building a Business • Creating your Business Model • Case Study: Angry Birds • Activity: Create your team’s Business Plan

  3. Can you recognize these entrepreneurs?

  4. You’re Right! Steve Jobs Oprah Winfrey Mark Zuckerberg Mary Kay Ash

  5. Do you know any female entrepreneurs? Sandy Jen is is a co-founder of Meebo, a social media platform Gabrielle "Coco" Bonheur Chanel founded Channel Robin Chase is a co-founder and former CEO of Zipcar Caterina Flake is the founder of Flickr and Hunch

  6. Think-Pair-Share: Think-Pair-Share What do you think are the personal characteristics of an entrepreneur? What do you think it would take for you to become an entrepreneur when you are older?

  7. What does it take to build aprofitable business? Review page 18 of the workbook for a list of terms. Elements of a business plan: Value Proposition Market Size Revenue Streams Cost structure Distribution Channels

  8. Case Study: Angry Birds Angry Birds – a mobile phone application puzzle game

  9. Value Proposition What value do we deliver to the customer? Which one of your customer’s problems are you helping to solve?

  10. Angry Birds:Value for users Angry Birds frees people from boring situations and provides entertainment

  11. Value Proposition Example Value propositions look like this: For target customer who statement of the need or opportunity, (product/service name)is product categorythat statement of benefit.

  12. Market Size You want to build a business where there are enough people who would buy the product to make you money. These can be both paying and non-paying customers.

  13. Angry Birds:Market Size Entertainment through games Multiple versions available Accessible on different platforms

  14. Revenue Streams • Paid Apps • Advertising and • In-game purchases

  15. Angry Birds: Revenue Streams Advertising Paid application In-app purchase Angry Bird merchandise

  16. Cost Structure Think-Pair-Share What are the most important costs in your business? If you were to turn this app into a real business, what else would you have to pay for?

  17. Angry Birds: Cost Structure • The game took $122,880 to program in total • Pay a cost to platforms • Operations: • Rent for office building • Raw materials for merchandise • Salaries for Employees • Computers and Development Software • Source: http://www.wired.co.uk/magazine/archive/2011/04/features/how-rovio-made-angry-birds-a-winner?page=all

  18. Distribution Channels How are you reaching your customers? Which ones work best? Which are the most cost-efficient?

  19. Angry Birds:Distribution Channels December 2009, Angry Birds hit the App Store Apple App Store, Android Market, Angry Birds Website, Facebook platform, Roku platforms Stores for Angry Bird merchandise

  20. Business Model Summary Value Propositions Market Size Revenue Streams Cost structure Distribution Channels

  21. Activity: Business Model Record your ideas in pages 19-20 of the workbook • In your workbook, write down the following: • What is your target market? • How big is your market? • What will your revenue streams be? • Cost Structure? • Distribution Channels?

  22. Task List Complete the business model for your app. You’ll need it to finalize your business plan. Continue to work on the functionality of each individual screen in your prototype, starting with the easiest components.

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