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CitySpark Plan: Business Planning & Execution Strategies for Start-Up Success

Learn the causal route to execution, from product analysis to investor cash, and team building. Understand the effectual route to execution with market and customer validation steps. Explore the DOT Principle and steps for problem-solution fit, product-market fit, and pivoting. Discover the MVP concept and create a business model, marketing roadmap, and channel strategy. Join CitySpark Summer School to develop an effective business plan, iterate, discover customers, and secure investors. Register for the event on 11th to 13th June 2012 at Northampton Square. Visit www.city.ac.uk/cityspark for more information.

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CitySpark Plan: Business Planning & Execution Strategies for Start-Up Success

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  1. Business Planning Dr. Tim Meldrum Section 1 - Title Student Start-Up Event Wednesday 28th March 2012

  2. ‘Ideas are ten-a-penny. Execution is everything’ Felix Dennis

  3. The causal route to execution … £ £ £ Product Analysis Plan Investor Cash Team

  4. 3.1 minutes 2.0% …can be a very rocky road 250 hours….

  5. Why do we need an alternative? • ‘Most start-ups fail because they • didn’t develop their market, not because • they didn’t develop their product.’ • Steve Blank (2005)

  6. The effectual route to execution Pivot …

  7. Four steps to validation • Market – customer discovery: what do they need? • Product – customer validation: meet that need • Venture – company creation: make & sell • Future – company sustainability: it lives & grows • The DOT Principle: Do, Observe, Think

  8. Steps One & Two Problem- Solution fit Product- Market fit Proposed MVP Business Model Proposed Channel Marketing Roadmap Pivot

  9. What is ‘MVP’? Problem- Solution fit ‘The product version that allows you to get maximum proven learning about customers with the minimum effort’ Proposed MVP Proposed Channel

  10. What is ‘Product-Market Fit’? Product- Market fit ‘a big-enough set of passionate customers who are positive enough to pay’ Business Model Marketing Roadmap

  11. What is ‘Pivot’? Problem- Solution fit ‘you change a bit of your solution based on iterative learning’ Proposed MVP Proposed Channel Pivot

  12. The CitySpark plan • The Problem: market opportunity • Whose Problem? customers or clients • The Solution: product or service • The Team: who and why • The Business Model: delivering the solution • Irresistible: different from your competitors • The Future: growth plans

  13. Effective business planning • Accept this is the first, not the last, plan • Be ready to iterate and change • First discover customers then validate demand • And Do, Observe, Think • Avoid being wedded to your 1st idea! • Write that plan for the right audience: who are your partners & investors?

  14. CitySpark Summer School • 11th to 13th June 2012 • Northampton Square • www.city.ac.uk/cityspark

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