Session03 pt

Session 03

Opportunity Recognition,
Business Model, and
Strategy Development

Paulus AC Tangkere

Bygrave & Zacharakis, 2007.
Entrepreneurship, New York: Wiley. ©

Quiz 1
• Apa yang dinamakan dengan
kewirausahaan (entrepreneurship) itu?
• Jelaskan persamaan dan perbedaan
antara:
a. Kreatifitas
b. Inovasi
c. Komoditas.
• Jelaskan the power of entrepreneurship.


Idea-to-opportunity transition

Viable
Seed of idea Idea
Opportunity

Professional Idea
Passion
Experience Multiplication


Idea multiplication – IDEO
technique
Gather Observe
1 Stimuli – customer anthropology

Multiply Brainstorm/brain-write
2 Stimuli – solution concept

Create
Build a simple mock up
3 Customer
– vizualised model
Concepts

Optimize Add/remove features
4 Practicality – improved features


The opportunity space
Global Business Environment

Competitors

Suppliers Your Company Customers Competitors

Competitors
Government Regulations


The customer
Target Audience Categories
Primary Secondary Tertiary
Target Audience Target Audience Target Audience

Common Demographic/Psychographic Categories
Demographics Psychographics
Age Social group (e.g., white collar, blue
Gender collar, etc.)
Household Income Lifestyle (e.g., mainstream, sexual
Family Size/Family Lifecycle orientation, materialistic, active, athletic,
Occupation etc.)
Education Level Personality Traits (Worriers, Type A’s,
Religion Shy, Extroverted, etc.)
Ethnicity/Heritage Values (Liberal, Conservative, Open-
Nationality Minded, Traditional, etc.)
Social Class
Marital Status


Macro trends
Important Trends over the Last 50 Years
Trend Impact
Baby Boom Generation Pampers, Rock & Roll, Television,
Minivans, Real Estate,
McMansions, etc.
Personal Computing Internet, media on demand,
electronic publishing,
spreadsheets, electronic
communication
Obesity Drain on healthcare system, growth
of diet industry, changes in food
industry, health clubs, home gyms
Dual-Income households Child care, Home services –
landscaping, house cleaning,
prepared foods


Market Adoption

1
O Wi
pp nd
or ow
tu
ni of
ty

2

Time
C
om N
ew

S-curve

En pet
te ito
r rs

3

O
bs
ol
Ph e s c
a s en
e c e

Setting prices

Price

Assessing Market
Penetration Pricing Cost-plus Pricing Prices for Competing
Strategy Strategy Products
Strategy

Requires Price May Not
Enormous Match The Best Option
Financing The Value


Reaching customer – the value
chain
Example - Value Chain of Gourmet Chili
Base
Ingredients Gourmet Food Grocery
-Beef, Chili Distributors Stores
Sauce, etc.
-From Food
80%
Distributor

85%

5%
0%

0%
30%

0-7
5-9

70-
5%

35%
65-
7

7

5-3
0-2

GS

20-

GS
GS

GS
15-

2
1

CO

GM

GM
CO
CO

CO
GM

GM

Learning about “stealth”
competitors
Business
Angels
and
VCs

Sources
Of
Intelligence

Suppliers Databases


Opportunity checklist

Global
Customer Competition Vendors Government
Environment

Price/
Market
Trends Market size Frequency/ Distribution
Growth
Value

Key Success
Factors


what is a business
model?

business model framework

INFRASTRUCTURE OFFER CUSTOMER
PARTNER CUSTOMER
NETWORK RELATIONSHIPS
CORE VALUE CUSTOMER
CAPABILITIES PROPOSITION SEGMENTS
ACTIVITY DISTRIBUTION
CONFIGURATION CHANNELS

COST FINANCE REVENUE
STRUCTURE STREAMS

a business model describes the value an organization offers to
various customers and portrays the capabilities and partners
required for creating, marketing, and delivering this value and
relationship capital with the goal of generating profitable and
sustainable revenue streams

[Osterwalder (2004) The Business Model Ontology]

Business model

Revenue model Cost model

Revenue categories Cost of Goods Sold Operating Costs


Amazon.com’s Revenue Model
US$ in Thousands
Total revenues

$6,000,000
$5,000,000
$4,000,000
Media
$3,000,000 Electronics
$2,000,000 Other
$1,000,000
$0
2001 2002 2003 2004 2005


Amazon. com’s cost model

US$ in Thousands
Total costs and expenses
7,000,000
6,000,000
5,000,000
Cost of
4,000,000
Revenue
3,000,000
Operating
2,000,000 Expenses
1,000,000
0
2001 2002 2003 2004 2005

Basic strategy categories are:

Differentiation
Low cost
Niche


Attributes of winning strategies

Cheaper Better

Faster


Several key aspects about
capturing a first mover’s advantage
 You have to be first (or very early) into
the market
 You need to capture a large percentage
of the market quickly
 You need to create switching costs so
the customer will stick with you
 Very expensive, hard to win
 First Movers rarely win

The people are what Matters
Values

Selection Structure


Entry Strategy

Benchmark

Devise Initial Market Test

Create a Platform

Growth Strategy

Expanding your Geographic
Franchising
product mix expansion


Benefits of
franchising

Adds new Speeds
revenues growth


Factors defining
success of
geographic
expansion

Customers Vendors Distribution


The Entrepreneurial Firm International Expansion Process

Gradual Born Born Again
Global Global Global

Intermediating:
Enabling
Networks & Alliances
Processes
Direct:
Technology

Foreign
Technology Technology Venture M&A
Outsourcing Exporting Direct Franchising
Transfer Licensing Finance Activities
Investment

Enacting
Processes


Means to expand Pros Cons
globally
Technology Transfer - Reduces entry costs - Risk of losing the technology

Technology Licensing - Generates revenue - A lost opportunity to extend your
- Conserves resources own brand
Outsourcing - Cost-saving

Exporting - Cheap - Additional costs in after-sales
- Easy support and transportation
- Moral hazard
Foreign Direct Investment (FDI) - Physical presence - Expensive
- Control of assets
Franchising - Licenses an operational system - Risk of damaging the brand
name
Venture financing - Both an enabling and an - Often leads to mergers and
enacting mechanism acquisitions with foreign
companies
Mergers and acquisitions (M&A) - Established infrastructure - Very expensive
- Allow a company to grow and
expand quickly


Session03 pt

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