Beta #MODEL Selling Your Vision

Skills and Roles You Soft Skills Hard Skills Skills Mapping & Social Capital Your Team ?

YOU

Are you a detail person or a big picture person? Are you future focused or set in the present and learning from the past? Are you best following a process or innovating? Do you work better in a linear fashion or scatter-gun? Do you say “about £10” or do you say “£9.89”? When are you at your best?

THE TEAM Are you a detail pers on or a big picture person? Are you future focused or set in the present and learning from the past? Are you best followi ng a process or inn ovating? Do you work better i n a linear fashion or scatter-gun? Do you say “about £ 10” or do you say “£ 9.89”? When are they at their best?

Are they detail peopler or do they see the big picture? Are they future focused or set in the present and learning from the past? Are they best following a process or innovating? Do they work better in a line ar fashion or scatter-gun? Do they say “about £10” or do they say “£9.89”? When are they at their best?

Evidence: I do X using Y skills which shows that I am Z which is important for our business to do …… “I have been a member of the student council for 2 terms, I have to have strong organisational skills and be excellent at working with people to do this successfully. Being organised and getting the most from people will be crucial for our businesses success” Soft Skills Leadership Sales Motivation Objectivity

Evidence: I do X using Y skills which shows that I am Z which is important for our business to do …… “I have been a member of the student council for 2 terms, I have to have strong organisational skills and be excellent at working with people to do this successfully. Being organised and getting the most from people will be crucial for our businesses success” Hard Skills Finance / Design / Programming / Business Knowledge / Research / Data Analysis

Roles Finance Sales Product Development Product Design UX Management

Exercise 1 Begin to map each others skills. Brain storm your teams skills & evidence. Remember to look at hard skills and soft skills

The Skills Gap You will always have a skills gap! What skills gap do you have right now? What tasks do you need to do immediately? What tasks do you need to do for Beta? What skills gaps can you foresee in the near future? What gaps do you have? Who can fill those gaps that you already know? ….call in favours! What don’t you know? Who can help you understand your skills gap? The Lean Approach: "Where can you get these skills as cheaply and efficiently as possible?”

Social Capital What is social capital? How can you extend yours? How are you discovering your skills gaps & filling them by increasing your social capital?

The Business Model

Business Model Value hypothesis & growth hypothesis The business model will most likely be in two parts: 1.The value hypothesis… i.e. “ME Ltd does X which is valuable to customers because of Y” 1.The growth plan… i.e. “existing customers do A which creates growth by B” value / growth / income

Business Model value / growth / income There are a myriad of different ways that a business model works when you look at the detail. Try to create a simple sentence or two that define your business model. Here are some questions and ideas to help: What is the value hypothesis? What does your business do / make? Why is that valuable for a customer? Why is that more valuable than the alternative? What generates income? (customers pay X for Y)

Business Model value / growth / income The growth plan – i.e. “existing customers do A which creates growth by B.” “Your growth plan doesn’t have to be world domination but every business needs to grow and evolve.” What is the growth plan? Does each customer spend more money or do you get more customers? Where do new customers come from? Why do they come? What generates the growth (state your main method): 1.Word of mouth 2.Usage (ie new customers see existing customers using it 3.Advertising 4.Repeat purchase

Business Model value / growth / income Subscriptions ecommerce Advertising In-app payment You know your value proposition and your growth hypothesis. Where does your revenue come from?

Business Model value / growth / income Ad revenue guide: CPM is ‘Cost Per Thousand’ CPC is ‘Cost Per Click’ (or PPM & PPC) CPM = 80p x 1,000 views (up to £5 when established) CPC is highly variable depending on specific click, work on CPM for now. gives page view indications

NOT TRUE

98,744 / 1,000 ≈ p x 99 = £79.20pcm Ads on Barclays homepage = £950.40pa

Exercise 2 Can you state your business model in once sentence? In

Start Up Costs

Usual start up costs: People Buildings Resources Production Route to market Fixed vs Variable LEAN LEAN LEAN

How quickly and cheaply can you get an MVP ready? What’s the minimum needed to show a potential customer? What would you want to learn? How quickly can you learn it? Ask the right questions. Not ‘mum do you like my logo?’, not even ‘would you use this?’. Maybe what do you use? What have you downloaded & deleted? Why? What annoyed you? “The best investment will be those that learn important information, quickly, for little cost!” Minimum Viable Product

Handouts

Handouts

Investment

Would you lend you £2,500? What will you do with the investment? How have you ensured the best return on that investment? “What are the difficult questions that are going to make or break you? You need to ask them!” Immediate Investment

Learn fast. Learn cheap.

Thank You Questions?