ENTP 3301 Lecture Notes - Lecture 8: Internet Forum, Swot Analysis, Target Market
9 Sep 2016
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The basics (10 minutes; 3 minutes of questions) Survey results/market: post survey on internet forum. Competition: rivalseek, add more competitors, swot analysis. Business model: how are you going to make money, exchange of value. Marketing plan: target market, product, price, placement, promotion. The ask (and how you"ll spend it: work on the 10th and 12th. Ch 9: building a new venture team and unique marketing issues. New-venture team: group of founders, key employees, and advisors that move a new venture from an idea to a fully functioning firm, team doesn"t come together at one time, new firm can afford to hire additional personnel. New ventures have a high propensity to fail. High failure is due in part to liabilities of newness, new companies falter because people involved can"t adjust. Size of the founding teams: 50% to 70% of all new ventures, better than solo entrepreneurs. Advantages and disadvantages of starting a venture as a team.
