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Understanding Venture Identity: Feasibility and Desirability in Business Models

This essential guide explores the core concepts of venture identity, focusing on feasibility and desirability as foundational elements of your business model. Delve into the 7 components outlined in the assigned reading, analyze the feasibility of your product or service, and apply practical tools like Porter’s 5 Forces and buyer intent surveys. Learn from past successes and failures, such as the Segway case, and utilize various research methods to validate your ideas with potential customers. Equip yourself with insights for your take-home assignment and future business endeavors.

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Understanding Venture Identity: Feasibility and Desirability in Business Models

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  1. What is YOUR venture identity?

  2. Feasibility & Desirability • It is one of the CH1 concepts • It is the foundation of your assignment #2 • It is this week’s key topic & reading • Business model • 7 components in the book chapters? • 5 components in your take-home? • Feasibility analysis • 3 interrelated components?

  3. Business Model (Take-Home Assignment) 1 4 2 Provide details of these 5 elements for your [named product/service] a.k.a. core competency What’s your VRIN? What problem will you solve? Broad- or narrow-scope? 3 5

  4. Feasibility Analysis

  5. Recap of last Class

  6. Feasibility Analysis

  7. Industry & Market Feasibility

  8. In-Class Exercise Name Porter’s 5 forces for your [named product/service]

  9. Agenda for today

  10. Feasibility Analysis

  11. What went wrong with Segway? • Projected sales: 10,000 ~ 50,000 units in 12 months • Actual sales: 6,000 units in 21 months

  12. Product or Service Desirability • Secondary research • White papers, internet, demographic/census data, directory/listing • Simplified customer survey • $20 Starbucks test on random people • Focus Group • Concept test on “potential customers” • Buyer Intent • Prototypes

  13. Focus Group Concept Test • Ask 8~12 “potential customers” to provide you in-depth feedback • List 3 things you like about the product or service idea described • Provide 3 suggestions for making the idea better • Do you think the idea is feasible (i.e., is a realistic or viable business idea)? • Provide any additional comments or suggestions you think might be helpful (including red flags)

  14. Buyer Intent Survey • Ask 50 “potential customers” • How likely would you be to buy the product or service described? • Definitely, probably, might or might not, definitely not • How much would you be willing to pay for the product or service? • Where would you expect to find this product or service for sale?

  15. Business Model (Take-Home Assignment) Provide details of these 5 elements for your [named product/service] 8 7 6 9

  16. What comes Next?

  17. Feasibility Analysis

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