Technology Ventures: From Idea to EnterpriseChapter 7: Summary The method of enterprising is to plan with audacity and execute with vigor. Christian Bovee How are ventures actually formed and what is the role of the business plan? Entrepreneurs respond to attractive opportunities by forming new ventures. One particularly important step is the development of a business plan. We also discuss the benefits of joining a cluster of interconnected enterprises. Summary The Business Plan 7
Chapter 7: Figure 7.1 – building a new venture The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: Table 7.1 The Business Plan 7
Chapter 7: Table stages of the new venture story The Business Plan 7 Stories are an integral part of the process by which founders start and build new ventures, acquire needed resources, and generate new wealth (Lounsbury and Glynn, 2001) Stages of the Story Technology Ventures: From Idea to Enterprise
Chapter 7: Exercise Consider the corporate venture creation process of a firm you know or have worked for. Describe their creation process and their successes and failures. How could they improve the process? The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: concept A business plan is a document that describes the opportunity, product, context, strategy, team, required resources, financial return, and harvest of a business venture. The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: Table 7.3 The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: Table 7.3 continued The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: Table 7.4 The Business Plan 7
Chapter 7: Figure 7.3 The business plan serves as the alignment tool for a new business venture. Resources Financial Physical Intellectual Deal Reward, Risks Incentives Ownership Harvest People The Team Capabilities Attitude Reputation Opportunity Customers Strategy Business Model The Business Plan Context: Economy, Regulatory, Industry The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: Principle Entrepreneurs can learn and master a process for building a new venture and they communicate their intentions by writing a business plan. The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: Venture Challenge VENTURE CHALLENGE 1)Create a draft table of contents for your venture’s business plan. 2)Describe your process necessary for creating a business plan. 3)Write an executive summary for your opportunity. The Business Plan 7 Technology Ventures: From Idea to Enterprise
Chapter 7: DVD Video DVD Video “Purpose of a Business Plan” Tom Byers (Stanford) The Business Plan 7 Technology Ventures: From Idea to Enterprise