This document summarizes a class on venture design, strategy, business models, and organization. The class covered an overview, guest lectures from founders of startup companies, business models, venture design, and a mid-term evaluation. It discussed iterating business ideas, assessing feasibility, designing ventures including competitive strategy and distribution channels, and business planning to communicate legitimacy and understanding to potential investors. Students will continue working on their ventures and presenting progress on their business models.

1. High-­‐Tech
Business
Venturing
(HTBV)
Class
#07:
Venture
design:
strategy,
business
model,
and
organiza9on
March
21,
2014
In
collabora*on
with:

2. Today’s
topics
• Overview
of
the
course
• Guest
lecture
– Rasmus
Banke
(Founder
and
CEO
of
Banke
Accessory
Drives)
– Alexander
Brem
(new
professor
at
Innova9on
&
Business)
• Business
model
• Venture
design
• Mid-­‐term
evalua9on

3. Background
• Objec9ves
– From
technology
to
business
opportunity
– Prac9cing
entrepreneurship
• Approach
– Applied
business
venturing
– Focus
on
business
opportunity
and
venture
design
– Itera9ve,
experien9al,
&
experimental

4. Course
structure
(1) (2) (3) (4)
(a)
Introduction
to course
Feasibility
analysis
Venture
design
Mobilizing
resources
and funding
(b)
Introduction
to
technology
Coaching
session
Coaching
session
Coaching
session
(c)
Coaching
session
Presentation
of business
opportunity
Presentation
of business
model
Presentation
of business
plan

5. Idea
&
opportunity
prototyping
• Opportunity
and
idea
modeling
• Super
hunch
sketch
pad

6. Itera9on!
Source:
www.theinnographer.com

7. Assessing
feasibility
• Proposal
MUST
be
feasible
– Industrial;
Compe99ve;
Technical;
Market;
Opera9onal;
Legal;
Financial;
Commercial
• If
not:
– Adept
or
abandon
your
plan
– (Assume
that
it
will
be
feasible)
• Industry
analysis
– A]rac9veness
of
industry
• Characterizing
demand
– Realis9c
es9mates
&
nuances
in
demand
– Self-­‐reports
may
be
unreliable
• Stated
preferences
vs.
ul9mate
purchases

8. Designing
the
venture
• Compe99ve
Strategy
• The
Distribu9on
Channel
Decision
• Adver9sing
Decisions
• Dynamic
Demand
Forecast
• Scope
of
Opera9ons

9. Business
model
in
prac9ce
George,
G.
&
Bock,
A.
J.
2011.
The
business
model
in
prac9ce
and
its
implica9ons
for
entrepreneurship
research.
Entrepreneurship
Theory
and
Prac*ce,
35:
83-­‐111.

10. Business
model
components
Afuah,
A.
2014.
Business
Model
Innova*on:
Concepts,
Analysis,
and
Cases
(2nd
Edi9on).
New
York:
Routledge.

11. Business
model
canvas

12. Business
plan/planning
• “While
the
most
visible
output
of
the
text
will
be
a
business
plan,
the
most
valuable
output
will
be
the
venture
simula9on
you
will
have
created
to
support
your
decision
making.”
(Kno],
2012)
• What
needs
to
be
learned
– Risk
– Return
– Feasibility
• Technical,
compe99ve,
opera9onal,
financial
• What
needs
to
be
communicated
– Legi9macy
– Understanding
– Professionalism
– Ability

13. Guest
lecture
• Rasmus
Banke
– Founder
and
CEO
of
Banke
Accessory
Drives

14. Mid-­‐term
evalua9on

15. Guest
lecture
• Alexander
Brem
– Professor
(mso)
at
Innova9on
&
Business
Group,
Mads
Clausen
Ins9tute

16. Next
steps
• Class
#08:
Coaching
session
– Date:
Friday,
April
4
– Time:
09:15-­‐12:00
– Loca9on:
U303
• Submit
progress
report
• Recent
progress;
current
plan
and
next
steps;
open
ques9ons
and
issues
(agenda)
• Wednesday,
April
2;
09:00
(Blackboard)
• Class
#09:
Presenta9on
of
business
model
– Date:
Friday,
April
25
– Time:
09:15-­‐12:00
– Loca9on:
iFabrikken