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Conducting a Market Study & Developing the Business model- delivered at IIT Roorkee

These are the slides from a talk I delivered at IIT Roorkee (India) on 15th Sep,07. The talk was titled - "Conducting a Market Study & Developing the Business Model". I used our experience with slideshare to illustrate some of the points covered in the presentation.

The event was organised by the entrepreneurship cell at IIT Roorkee.

Roorkee is incidentally, India's oldest engineering college and it was a real pleasure visiting its campus.

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Conducting a Market Study & Developing the Business model- delivered at IIT Roorkee

  1. 1. Conducting a Market Study & Developing the Business Model Lessons learnt in creating SlideShare
  2. 2. SlideShare <ul><li>The World’s largest community for sharing presentations </li></ul><ul><li>Called ‘ YouTube of PowerPoint ’ by TechCrunch </li></ul><ul><li>Launched Oct 06, growing fast </li></ul><ul><li>Run by a 14 member Delhi + USA based startup </li></ul>
  3. 3. Large-scale social sharing for photos for video for Presentations
  4. 4. What people share on SlideShare... Cartoons Paintings Humor Love Songs Talk slides Images of women Sermons Standalone presentations Activism Lesson plans Movie reviews Mother’s day cards
  5. 5. Conducting a Market Study & Developing the Business Model
  6. 6. Typical Business Planning roadmap Need Gap Identification Ideation Mission/Vision Statement Detailed business planning <ul><li>Competitive analysis </li></ul><ul><li>Product Positioning Map </li></ul><ul><ul><li>Core Value Proposition </li></ul></ul><ul><li>Develop Business Model </li></ul>
  7. 7. Competitive Analysis <ul><li>Direct Competition </li></ul><ul><ul><ul><li>same product, same geography </li></ul></ul></ul><ul><ul><ul><li>same product, different geography </li></ul></ul></ul><ul><li>Indirect (overlapping) competition </li></ul><ul><li>Future Competition </li></ul><ul><ul><ul><li>who could be competitors in future </li></ul></ul></ul><ul><ul><ul><li>competition from disruptive technologies </li></ul></ul></ul>
  8. 8. Sources of competitive info <ul><li>empirical knowledge </li></ul><ul><li>conferences, events </li></ul><ul><li>media (print, electronic) </li></ul><ul><ul><li>published studies, newspaper articles </li></ul></ul><ul><li>internet search </li></ul><ul><li>industry resources </li></ul><ul><ul><li>industry directories, associations, newsletters </li></ul></ul>
  9. 9. Detailed competitive mapping <ul><li>Syndicated research </li></ul><ul><ul><li>free/paid basis </li></ul></ul><ul><ul><li>private companies / industry organizations </li></ul></ul><ul><ul><li>e.g. IAMAI, JuxtConsult, Indicus </li></ul></ul><ul><li>Employ professional market research agencies </li></ul><ul><ul><li>IMRB, AC Nielson </li></ul></ul><ul><li>Conduct own market mapping study </li></ul><ul><ul><li>previous projects, interns, students </li></ul></ul>
  10. 10. Product Positioning Map (slideshare example)
  11. 11. 2 X 2 Product Matrix (slideshare example) Online meetings Webinars Synchronous Private sharing Open, social sharing Asynchronous Private Public
  12. 12. The Positioning …(slideshare example) <ul><li>SlideShare…the “YouTube of Powerpoint” </li></ul><ul><li>the elevator pitch </li></ul><ul><li>- video http://light.vpod.tv/?s=0.0.12688 </li></ul><ul><li>your product’s core value proposition </li></ul><ul><li>how it is different from others </li></ul>
  13. 13. Why is positioning important? <ul><li>Positioning has to be clear & simple </li></ul><ul><ul><li>information & choice overloaded societies </li></ul></ul><ul><ul><li>explosion of products on the web </li></ul></ul><ul><ul><li>“me too”, overlapping features </li></ul></ul><ul><ul><li>low entry barriers for new players </li></ul></ul><ul><ul><li>short product life cycles on the web </li></ul></ul>
  14. 14. Factors influencing business models <ul><li>Depends on business objectives </li></ul><ul><ul><ul><li>trade-off between growth & monetization </li></ul></ul></ul><ul><li>Depends on financials </li></ul><ul><ul><ul><li>cash burn rate </li></ul></ul></ul><ul><ul><ul><li>expectations from investors </li></ul></ul></ul><ul><li>Depends on exit strategy </li></ul>
  15. 15. Internet business models <ul><li>Transaction Based </li></ul><ul><ul><ul><li>charge users per interaction </li></ul></ul></ul><ul><li>Advertising </li></ul><ul><ul><ul><li>revenues driven by internet traffic </li></ul></ul></ul><ul><li>Freemium model </li></ul><ul><ul><ul><li>subscription based </li></ul></ul></ul><ul><ul><ul><li>basic is free, charge high-end customers </li></ul></ul></ul><ul><ul><ul><li>use free as marketing incentive </li></ul></ul></ul><ul><li>Content syndication </li></ul><ul><li>Licensing </li></ul>
  16. 16. Scenario building & what-if analysis <ul><li>Evaluate multiple options </li></ul><ul><li>Initial financial projections </li></ul><ul><ul><ul><li>revenue, expenses, profit </li></ul></ul></ul><ul><ul><ul><li>cash flow projections </li></ul></ul></ul><ul><ul><ul><li>deficit could mean you need external funding </li></ul></ul></ul><ul><li>Estimate break-even point </li></ul><ul><li>Projections beyond break-even till exit </li></ul>
  17. 17. Preliminary Financial Planning (fictitious example)
  18. 18. Preliminary financial planning (fictitious example)
  19. 19. Reality check reqd! <ul><li>Projections are numbers on a spreadsheet </li></ul><ul><ul><ul><li>how to validate your assumptions, hypothesis </li></ul></ul></ul><ul><li>Get as much feedback as possible </li></ul><ul><ul><ul><li>other entreprenuers </li></ul></ul></ul><ul><ul><ul><li>venture capitalists, financial institutions </li></ul></ul></ul><ul><li>Make dry runs if needed </li></ul>
  20. 20. Questions ? Thank You