The guest speaker was Mr. Deepak Madnani (Founder, Paperclip Startup Campus) and he briefed why 9 out of 10 startups fail. He said the different between Startup and Entrepreneur was that business model was known or unknown. Most of Startups did not know their business model. From Startup to Entrepreneur, the period of startup should be finished as soon as possible.
Mr. Deepak Madnani said the lifestyles of startups were working to live their passion. They would like to search Scalable Startup and to execute it to be Large Company. In here, we needed business model and risk capital. He also told us that multiple types of Startups had different education, funding and tactics; but they had the same techniques to build them. Moreover, he explained no business plan but survived first that you needed to contact with customers.
He introduced the 9 boxs of Business Model Canvas (BMC) as below.
1. Value Propositions
2. Customer Segments (Who & Why)
3. Channels
4. Customer Relationships (Get → Keep → Grow)
5. Revenue Streams
6. Key Resources (Finance, Physical, Intellectual and Human)
7. Key Partners (Partners and Suppliers)
8. Key Activities (Production, Problem Solving and Supply Chain Management)
9. Cost Structure
Finally, Mr. Deepak Madnani explained the BMC through LinkedIn as sample.
Reference:
HKSTP - http://www.hkstp.org
Paperclip Startup Campus - http://www.papercliphk.com/en/academy
Business Model Generation - http://www.businessmodelgeneration.com/
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