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Objectives
An entrepreneur is very often passionate about his product or service and does not have a clear plan on how to turn a product or service into a sustainable business.
Although neglecting the financial aspect of the company is fatal, it is important to stay true to the entrepreneurial vision and passion.
In this topic, we will talk about the key factors that an entrepreneur should consider while developing a business model.
Basic questions that every entrepreneur should answer at the beginning of each venture include (Book Entrepreneurial Finance Concepts and Cases, 2020):
1. Who is the customer?
2. What does the customer value?
3. How do we make money in this business?
4. What allows us to provide value to customers at an affordable price?
While designing your business model you need to consider the following factors:
- The position of the company in the value chain - You need to answer the question: Are you the creator of products or services or you enabling the delivery of the product or service?
- Business Development - How will you attract your customers?
- Sustainability - Can your product lead you to a sustainable business?
The main objectives of this topic are described in the following video:
Lesson 1. Lean Start-Up, Online Start-Up, Social VenturePulsa para colapsar
The following table shows all the materials prepared for the teacher to learn (T2L) and for the teacher to take them to the classroom (T2T, S2P) for Lesson 1 of Topic 2. Starting a New Venture.The description of the different types of materials (T2L, T2T, S2P) can be found here. For each material, teachers can find in this table: its description, the student workload, and where the student works. Additionally, recommendations about what to do in the classroom are included (remember that one lesson corresponds to one class of the teacher with her/his students). Follow the links in the table to discover what O-City has prepared for you:
| L1 Lean Start-Up, Online Start-Up, Social Venture | |||||
|---|---|---|---|---|---|
| Type | Materials | Description | Student Workload | Where does the student work? | What to do in class? |
| T2L/T2T | Video T2.L1. Lean Start-Up, Online Start-Up, and Social Venture | Explanation of key factors that an entrepreneur should consider while developing a business model (lesson content in pdf, video, video content in pdf) | 10' | at home or in the classroom |
Explain Video T2.L1 or solve doubts
Propose the Extra activity EA.T2.L1.1 |
| S2P | Extra activity EA.T2.L1.1. Discover examples of lean start-ups, online start-ups | Each student should find some examples of lean start-up and online start-up (activity factsheet in pdf) | 1h | at home | |