ENTREPRENEURSHIPBY DJEUMO E. CYRILLE

Help Hospitality services is at the quest of customers satisfaction and profit maximization

WEDNESDAY 12TH OCTOBER 2016WELCOME

NADEV ENTREPRENEURSHIP ACADEMY

BY DJEUMO E. CYRILLE

MODULE - 5

Our vision is to be the highest experience leading partner in hospitality and tourism services.

Business Model Development

Nobody get to the father if not through me (Jesus Christ)

Today’s investors expect a startup to develop a solid business model. Business models include information such as a description of the customer, an outline of the problem and an explanation of how a startup’s product or service will solve that problem. Learn more about business models and how you can develop one.

Lesson Description

At the end of this training participants should be able to;1. What is a business model? 2. What does scalability mean? 3. What is the essence of a great pitch?

Learning Objectives

1. Talk about an idea for a product or service and how you could test that idea using the Lean Startup methodology.

2. Share the story of your product or service. Ask group members for feedback on your pitch.  

Discussion Questions

1. Create a business model for your product or service. Include: a. a description of your customers b. the problem you are solving for them c. the features your solution must have d. how you will make money from your solution e. how you will reach your customers and how much it will cost to acquire them f. the messages you will use to entice your customers

Developmental Actions

BUSINESS Model

BY DJEUMO E. CYRILLE

MODULE - 6

Our mission is to empower people to improve on customer service and know that through training and sensitization.

70% of startups in Cameroon uses business model as a guide to doing business especially the Bamileke’s.

Introduction

•Developing the business model for your startup.

•There's going to be three learning objectives during this module.

•First, what is a business model? •Second, what does scalability mean? •And third, what is the essence of a great pitch?

•Fifteen years ago, investors expected startups to spend great amounts of time writing long business plans filled with forecasts that were unlikely to ever be true.

• Today, sophisticated investors expect startup founders to focus on developing a business model for their startup, ideally one that scales.

Research

•A business model is the collection of assumptions that must be true in order for your startup to generate a consistent profit.

•These assumptions include; a precise description of the customers you will engage, the problem you will solve for those customers, the features of the solution to that problem, the messages and channels you will use to connect to those customers, and the economics around what and how you will charge for your solution — and what it will cost you to provide it

Definition

How to Start Writing a Business Model•A scalable business model for your startup is one that not only enables the business to generate a profit but one that is well-suited to grow rapidly — and ideally become more profitable as the business becomes large.

How to Start Writing a Business Model•Rather than assuming that you have all the answers about your scalable business model from the start, you, as a smart entrepreneur today begin with the idea that you have hypotheses that must be tested through actual interactions with customers. It doesn’t matter what you think; it matters what you can validate through hard data derived from actual customer interactions.

Lean Startup Methodology

•The Lean Startup Methodology — popularized by Steve Blank and Eric Ries — is one important way of going through this continuous process of experimentation and business model development.

Lean Startup Methodology•A “lean startup” approach to building your business pairs an iterative, experimental approach to developing an in-depth understanding of your customers — and their needs and wants — with a fast, flexible approach to building your product. The idea is that you build as little of your product as possible, test it with real customers, then make quick tweaks and changes to the product, and repeat.

Why do you need a Model•To communicate your scalable business model to potential investors and other audiences, you should maintain an up-to-date pitch or story you tell about your business. The physical manifestation of your pitch is a deck — usually 10 to 12 slides and no more — and as visual as you can make it.

Why do you need a Model #2•More important than the physical deck, though, is really developing a great story to tell. After all, there's going to be a lot of moments when you have the opportunity to pitch someone, but won’t happen to have your deck handy.

Why do you need a Model #3•Every great story has a beginning, a middle and an end. The beginning is about setting the scene and introducing compelling characters to whom your audience can relate. The middle is about explaining a challenge that your main character faces. The end is about how your character resolves this problem in a satisfying way.

Pitch Process•Your pitch should unfold the same way. You need to start by explaining to investors who the user of your solution is. The more vivid a picture you can paint, the better. You then need to explain the incredibly frustrating or expensive problem that your user faces. A combination of anecdotes or case studies — to make the problem seem real, with data to explain the size of the problem, is ideal.

Summary•You need to end your pitch by showing how your solution solves this problem. And it’s really important that you do this in the simplest terms possible. Finally, the epilogue to your story is explaining how you scale your business into a really big, interesting market.

Exercise #11. According to Business Model Training,

Business models include information such as a description of the customer, an outline of the problem and an explanation of how a startup’s product or service will solve that problem.

A. I DisagreedB. I have not UnderstoodC. The Trainer was not Clear.D. I Agreed

Exercise #21. According to Business Model Training,

Today, sophisticated investors do not expect startup founders to focus on developing a business model for their startup, ideally one that scales.

A. I DisagreedB. I have not UnderstoodC. I AgreedD. The Trainer was not Clear.

Exercise #31. The Lean Startup Methodology —

popularized by Steve Blank and Eric Ries — is one important way of going through this continuous process of experimentation and business model development. According to Business Model Training.

A. I DisagreedB. I AgreedC. The Trainer was not Clear.D. I have not Understood

Exercise #4•According to Business Model Training. We need To communicate your scalable business model to potential investors and other audiences, you should maintain an up-to-date pitch or story you tell about your business.

A. I DisagreedB. The Trainer was not Clear.C. I AgreedD. I have not Understood

Exercise #5•According to Business Plan Training. You need to end your pitch by showing how your _______ solves this problem. And it’s really important that you do this in the ________ terms possible. .

A. Solution B. The Trainer was not Clear.C. InnovationD. Simplest

Business Model Canvas

Module 7

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Learning Objectives

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Module 3

Examples

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Module 4

Exercise How to add value and turn Plans into a Business

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How to use your ideas to establish a business plan for the future

Module 5:

Presentation

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Contacts

MALINGO JUNCTION , LADY L STREET, MARC

LYNN BUILDING MOLYKO, BUEA.hhs412103@gmail.com

www.facebook.com/helphosptalityservicesP.O BOX 1505,BUEA.

TEL +237 6342030, 233322046

THANK YOU