Venture development
Who, What, How, Why
Who, What, How, Why
To find out what a company’s business model is, all you have to do is analyse its four defining features:
- The customers. Who are our target customers?
- The value proposition. What do we offer to customers?
- The value chain. How do we produce our offerings?
- The profit mechanism. Why does it generate profit?
WHO?
- What customers and customers segments do we mainly serve?
- What kinds of relationships do our customers expect and how do we maintain them?
- Who are our most important customers?
- Who are the other important stakeholders?
- Who influences our customers?
- What people are behind our customers?
WHAT?
- What customer problems do we solve and what needs do we meet?
- What are the products and services we put in place to accomplish this?
- What is the perceived customer value?
- What value or benefit do we create for customers?
- How do our offerings differ form those of our competitors?
HOW?
- What key resources are behind our offerings and value proposition?
- What competencies and key activities do we need?
- Does our value chain make full use of our core competencies?
- Who are our most important partners?
- Who are our mos important suppliers and what do they contribute?
WHY?
- Why will the customer pay for our product or service?
- What are our main sources of income?
- How is the income generated?
- What are customers willing to pay for?
- What are our main costs and the most significant cost drivers?
- What are the main financial risks in our current revenue model?
Who, What, How, Why – Self-Evaluation Checklist
- Let’s analyse airbnb’s proposal again.
- Try to find answer for all the dimensions of the business model
Introduction to the module
Welcome to the Venture Development module.
In this module, our objectives are:
- To understand the process of starting a new business
- To analyse what the entrepreneurial phenomenon is all about
- To find out the key skills that an entrepreneur needs to have
- To explore the sources of inspiration for business ideas
- To get a grasp of the creative process
- To identify business opportunities
- To use tools for designing innovations that benefit the user.
Download here related workbooks before starting the course:
All workbooks in this course please submit to rventura@uma.es (UMA students), s.best@mdx.ac.uk (MDX students), marina.lovrincevic@efst.hr (UNIST students), upon finishing the assignments.
About author
Rafael Ventura Fernández, Ph.D., is Vice-President of Social Innovation and Entrepreneurship at University of Málaga. Ventura joined the University of Málaga in 1995 and has been visiting research fellow at the Technical University of Delft (Netherlands) and the University of Stockholm (Sweden). He has received PhD Prize and Spin Off Award in Universidad de Malaga. Ventura teaches entrepreneurship, innovation in business models, social responsibility, economy of culture and new organizational forms derived from the information technology and communications. His research has been presented and published in the proceedings of regional, national and international conferences and in peer-reviewed journals. He has experience managing research projects, postgraduate academic programs and educational innovation projects.
For discussion and course related questions visit the FORUM.
Course Features
- Lectures 4
- Quizzes 0
- Duration 60 hours
- Skill level All levels
- Language English
- Students 26
- Assessments Self
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UNIT 1
- Lecture 1.1 Starting a Business
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UNIT 2
- Lecture 2.1 From Business Idea to Business Opportunity
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UNIT 3
- Lecture 3.1 Ideas that Benefit the user
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UNIT 4 From Business Opportunity to Business Model
- Lecture 4.1 Who, What, How, Why
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Salvador51
Workbook problem
I still doing this course and I have problems to download the workbook. Everytime I click on the link it takes me to a new window that opens the same page, but nothing is downloaded. Please review it when you have time, I would like to finish it.
