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INDEV308 Class 4 - Identifying Business Potential

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Social Entrepreneurship

Theory: How do social entrepreneurs assess the business potential of their ideas? Practice: What are the challenges associated with collecting and synthesizing market research data, and applying this data to making business decisions? http://www.socialentrepreneurship.ca/indev308

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INDEV 308: Intro to Social Entrepreneurship Class 4: Identifying Business Potential Monday, May 30, 2011 Instructors: Norm Tasevski (norm@socialentrepreneurship.ca) Karim Harji (karim@socialentrepreneurship.ca) 1
© Norm Tasevski & Karim Harji
© Norm Tasevski & Karim Harji Agenda •  StickerYou •  What did we learn – Last Week? •  Guest Speaker – Serge LeVert-Chaisson •  How do we assess business potential for social enterprise? •  What did we learn – Today? •  Next week 3
© Norm Tasevski & Karim Harji Last Week – What did we learn? 4
© Norm Tasevski & Karim Harji Serge LeVert Chiasson 5
Assessing Social Enterprise Business Potential… 6
© Norm Tasevski & Karim Harji A Caveat… When we assess business potential, …we also care we don’t just care about… about… …and… 7
© Norm Tasevski & Karim Harji Our Strategy… 1.  Assuming the perfect scenario, does our business model generate money? If yes… 2.  Does the model still make money once real world conditions are factored in? 8
© Norm Tasevski & Karim Harji What is a “Perfect” Scenario? –  Porter’s 5 Forces line up perfectly (i.e. low to no entry barriers) –  You operate absolutely efficiently (e.g. resources used to their maximum capacity) –  The business runs flawlessly (i.e. no mistakes are made anywhere along the value chain) 9
© Norm Tasevski & Karim Harji Why Use a “Perfect” Scenario? Most Importantly: –  If you can’t make money even with the most ideal conditions… …STOP! (…and rethink your business model) Also: –  The perfect scenario is often the easiest to build a financial model from –  It provides a baseline – All other scenarios can be measured against this ideal case 10
Ready?… 11
© Norm Tasevski & Karim Harji Remember This? 12
© Norm Tasevski & Karim Harji Step 1: Identify Cost Drivers and Revenue Sources! 13
© Norm Tasevski & Karim Harji Value Proposition -Procurement! -Receiving! -Warehousing! -Inventory control! -Product/service design! -Licensing fees! -Product/service -Donated products/ manufacture/development! services! -Product packaging! -Technology support! -etc.! 14
© Norm Tasevski & Karim Harji Customer Segments -Research costs (surveying, interviewing, etc)! ! -Payments! -(Viral marketing of products)! 15
© Norm Tasevski & Karim Harji Channels -Warehousing! -Product packaging (in delivery boxes, etc)! -Product/service delivery (transportation, etc)! -Co-branding! ! -Rental fees! -”Concession stand” type contracts! 16
© Norm Tasevski & Karim Harji Relationships -Hard marketing costs (billboard advertising, etc)! -Soft marketing costs (website, etc)! -3rd Party advertisers! -Customer service! -Co-branding! -Relationship -Referral fees! management personnel! 17
© Norm Tasevski & Karim Harji Key Resources -Employees (management, staff)! -Brand! -Other assets (buildings, IP, software, -Licensing fees! etc)! ! 18
© Norm Tasevski & Karim Harji Key Activities -Service activities! -Sales activities! -Client engagement activities! -Events ! -Fees (e.g. ticket sales ! at events! ! 19
© Norm Tasevski & Karim Harji Key Partnerships -Partnership management costs (relationship building, contract management, etc)! -Investment! -Loans! -Grants/donations! 20
Break 21
© Norm Tasevski & Karim Harji Step 2: Calculate your margin! -???! -???! 22
© Norm Tasevski & Karim Harji What Do You Need To Calculate Your Margin? Data!!!! 23
© Norm Tasevski & Karim Harji Data Sources Call key industry players (suppliers, competitors, etc) Search databases (industry, scholastic, etc) Ask people!!! Conduct web search (friends, potential customers, etc) 24 (Google, etc)
© Norm Tasevski & Karim Harji What did we learn? 25
© Norm Tasevski & Karim Harji Next Week (after reading week) •  Deliverable: The Cost Side of your Business Model! •  Readings 26

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INDEV308 Class 4 - Identifying Business Potential

  • 1. INDEV 308: Intro to Social Entrepreneurship Class 4: Identifying Business Potential Monday, May 30, 2011 Instructors: Norm Tasevski (norm@socialentrepreneurship.ca) Karim Harji (karim@socialentrepreneurship.ca) 1
  • 2. © Norm Tasevski & Karim Harji
  • 3. © Norm Tasevski & Karim Harji Agenda •  StickerYou •  What did we learn – Last Week? •  Guest Speaker – Serge LeVert-Chaisson •  How do we assess business potential for social enterprise? •  What did we learn – Today? •  Next week 3
  • 4. © Norm Tasevski & Karim Harji Last Week – What did we learn? 4
  • 5. © Norm Tasevski & Karim Harji Serge LeVert Chiasson 5
  • 6. Assessing Social Enterprise Business Potential… 6
  • 7. © Norm Tasevski & Karim Harji A Caveat… When we assess business potential, …we also care we don’t just care about… about… …and… 7
  • 8. © Norm Tasevski & Karim Harji Our Strategy… 1.  Assuming the perfect scenario, does our business model generate money? If yes… 2.  Does the model still make money once real world conditions are factored in? 8
  • 9. © Norm Tasevski & Karim Harji What is a “Perfect” Scenario? –  Porter’s 5 Forces line up perfectly (i.e. low to no entry barriers) –  You operate absolutely efficiently (e.g. resources used to their maximum capacity) –  The business runs flawlessly (i.e. no mistakes are made anywhere along the value chain) 9
  • 10. © Norm Tasevski & Karim Harji Why Use a “Perfect” Scenario? Most Importantly: –  If you can’t make money even with the most ideal conditions… …STOP! (…and rethink your business model) Also: –  The perfect scenario is often the easiest to build a financial model from –  It provides a baseline – All other scenarios can be measured against this ideal case 10
  • 11. Ready?… 11
  • 12. © Norm Tasevski & Karim Harji Remember This? 12
  • 13. © Norm Tasevski & Karim Harji Step 1: Identify Cost Drivers and Revenue Sources! 13
  • 14. © Norm Tasevski & Karim Harji Value Proposition -Procurement! -Receiving! -Warehousing! -Inventory control! -Product/service design! -Licensing fees! -Product/service -Donated products/ manufacture/development! services! -Product packaging! -Technology support! -etc.! 14
  • 15. © Norm Tasevski & Karim Harji Customer Segments -Research costs (surveying, interviewing, etc)! ! -Payments! -(Viral marketing of products)! 15
  • 16. © Norm Tasevski & Karim Harji Channels -Warehousing! -Product packaging (in delivery boxes, etc)! -Product/service delivery (transportation, etc)! -Co-branding! ! -Rental fees! -”Concession stand” type contracts! 16
  • 17. © Norm Tasevski & Karim Harji Relationships -Hard marketing costs (billboard advertising, etc)! -Soft marketing costs (website, etc)! -3rd Party advertisers! -Customer service! -Co-branding! -Relationship -Referral fees! management personnel! 17
  • 18. © Norm Tasevski & Karim Harji Key Resources -Employees (management, staff)! -Brand! -Other assets (buildings, IP, software, -Licensing fees! etc)! ! 18
  • 19. © Norm Tasevski & Karim Harji Key Activities -Service activities! -Sales activities! -Client engagement activities! -Events ! -Fees (e.g. ticket sales ! at events! ! 19
  • 20. © Norm Tasevski & Karim Harji Key Partnerships -Partnership management costs (relationship building, contract management, etc)! -Investment! -Loans! -Grants/donations! 20
  • 21. Break 21
  • 22. © Norm Tasevski & Karim Harji Step 2: Calculate your margin! -???! -???! 22
  • 23. © Norm Tasevski & Karim Harji What Do You Need To Calculate Your Margin? Data!!!! 23
  • 24. © Norm Tasevski & Karim Harji Data Sources Call key industry players (suppliers, competitors, etc) Search databases (industry, scholastic, etc) Ask people!!! Conduct web search (friends, potential customers, etc) 24 (Google, etc)
  • 25. © Norm Tasevski & Karim Harji What did we learn? 25
  • 26. © Norm Tasevski & Karim Harji Next Week (after reading week) •  Deliverable: The Cost Side of your Business Model! •  Readings 26