2. INTRODUCTION
StartNowHow
• Open seminar series for active and prospective entrepreneurs
• 10 sessions on monthly basis until summer 2015
• Covers relevant theoretical and practical aspects of entrepreneurship
• Based on lecture „entrepreneurship“ @Bogazici University
• Based on experiences of entrepreneurs, investors, mentors and consultants
• Each session with guest speaker (entrepreneurs, investors, mentors, etc.)
• Each session will end with test elevator pitch by seminar participant
• Seminar materials can be downloaded after the event
• Thursdays 17.15h – 19.30h
• Next session: Thu, April 16th, 2015
• TOPIC: Financial Planning for Startups
• SPEAKER: Ebru Gürses, Finance Manager, BIC Angels
• Certificate provided for participants joining at least 7/10 sessions
• Early registration for each session required (eventbrite), capacity 50 people!
• Priority for regular participants
Startnowhow – Seminar 519.03.2015 2
3. INTRODUCTION
StartNowHow - Seminar Topics (preliminary)
1. Mon, 20.10.: The entrepreneurial ecosystem in Turkey
2. Mon, 10.11.: Entrepreneurship as a profession
3. Mon, 8.12.: Opportunity recognition and evaluation
4. Mon, 12.1.: Planning, testing and developing a business model
5. Thu, 19.2.: Market and competitor research
6. Thu, 19.3.: Financial planning for startups
7. Thu, 16.4.: Marketing planning and control – the role of key performance
indicators
8. Thu, 14.5.: Funding the startup – stage financing for ventures
9. Thu, 11.6.: The investment process – pitching, negotiations and termsheet
10. Thu, 9.7.: Success and failure as an entrepreneur
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5. MARKETRESEARCH&MARKETINGPLAN
Industry and Market Analysis
19.03.2015 5Startnowhow – Seminar 5
• Industry and Market Analysis
• Market growth
• Markets in infant stage with high growth means a more promising opportunity
• Market size
• Markets with high (future) size is more interesting
• Market structure
• Concentrated vs. fragmented market – fragmented market offers more opportunities
for future growth and for gaining market share
• Margin analysis
• Is typical gross margin high or low – high gross margin means more exciting
opportunity
• Demographic analyses may be useful
• Separation into general (national) and local / regional analysis may be useful if target
market is local / regional (see previous slide)
• Inability to define target market in established terms (e.g sector definitions according to
chambers of commerce) may mean „very innovative“ (not possible to define market, or
too many markets can be defined), but first impression for investors is „very risky“
• Sources of information: Public information, typically governmental statistics, statistics of
chambers of commerce and industry associations
6. MARKETRESEARCH&MARKETINGPLAN
Market Segmentation and Customer Analysis
19.03.2015 6Startnowhow – Seminar 5
• Market segmentation
• How is the industry currently segmented?
• How will the market be segmented in the future?
• Problem with developing markets: assumpitons necessary about future market
segmentation (example: mobile phone market in early stage – forecast market
segmentation into smartphones vs. simple mobiles possible?)
• Analysis of market entry barriers
• Target groups
• B2C markets: Consumer behavior characteristics (demographic / psychographic /
geographic information) help separating target groups
• B2B markets: Knowledge of industry, size of firms, frequency of purchase, price
sensitivity, organizational contact
• The more details you know about your customer, the more promising the venture
• VC: „The most impressive entrepreneur is theone who comes to my office not only
knowing the customer in terms of demographics and psychographics, but can also
name who that customer is by address, phone number, and e-mail address.“
• Sources of information: More difficult, sometimes own market research necessary– but
avoid „paralysis by analysis“
9. MARKETRESEARCH&MARKETINGPLAN
Competitor Analysis
19.03.2015 9Startnowhow – Seminar 5
• Necessary information about existing / potential competitors
• Current strategy of each primary competitor
• Products / services
• Pricing strategy
• Marketing and distribution strategies
• B2B: Key customers
• Sales, market share
• Possible reaction to new market entry
• Strenghts and weaknesses
• Established analysis tool: Porter‘s Five Forces Model
• Sources of information:
• Public information (incl. Web, newspaper, databases, published financial statements,
analyst reports)
• Market research, e.g. Contact to sources of public information
• Internal competitor information (example: job interviews with potential employees)
12. MARKETRESEARCH&MARKETINGPLAN
Marketing Plan
19.03.2015 12Startnowhow – Seminar 5
• Market positioning
• Marketing objectives
• Target market strategy
• Marketing mix and action programs
• Product and service policy
• Distribution / sales policy
• Communication policy
• Price policy
• Marketing budget
• Sales forecast vs. marketing measures
• Marketing control
• See literature / textbooks about marketing
• See examples for a marketing plan in Hisrich / Peters / Shepherd, Entrepreneurship, pp.
251-253
13. OUTLOOK
StartNowHow - Outlook
• Today‘s materials will be made available to participants for downloading
• Next Seminar: „Financia Planning for Startups“
• Guest Speaker: Ebru Gürses, BIC Angel Investments, Finance Manager
• Thursday, 16.4.2015, 17.15 – 19.30h
• Don‘t forget to register early (eventbrite) - capacity 50 people!
• Priority for participants / registrants from today‘s session
• General rule: Allocation of seats according to participation
• Regular participation = certificate (70% participation)
• Be prepared to pitch!
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