TECHNOLOGY
- comes from two Greek words,
techne- arts, skill, craft, or the way,
manner, or means by which a things is
gained, and
logos- word, the utterance by which inward
thought is expressed, a saying, or an
expression.
- is the making, modification, usage, and
knowledge of tools, machines, techniques,
crafts, systems, and methods of
organization, in order to solve a problem,
improve a pre-existing solution.
- An applied science.
Entrepreneurship
- The practice of converting good ideas into
something profitable.
- Process of identifying and starting a
business venture, sourcing and organizing
the required resources, and taking both the
risks and rewards associated with the
venture.
Technopreneurship
- Is simply entrepreneurship in a technology
intensive context
- Process of merging technology and
entrepreneurial talent and skills.
“WHY DO THEY CHOOSE EMPLOYMENT
RATHER THAN PUTTING UP THEIR OWN
BUSINESS?”
1. They were not taught to become a
business owner since they were young.
2. No for capitalization.
3. Lack of expertise
4. Fear of taking the first step
THE SECRET OF BEING A TECHNOPRENEUR
1. iDEA
2. Marketing the iDEA
3. Business MODEL
4. CUSTOMER EXPERIENCE
5. FAILURE is a part
6. Your CHARACTER
“HOW DO YOU ENRICH YOUR CHARACTER TO
DRIVE YOU TO THE EPITOME OF SUCCESS?”
●Know your purpose
●Maximize that purpose
●Give away your purpose
VALUE PROPOSITION
- Describes the benefits customers can expect
from your products & services.
Value design process
Extract hypothesis > Prioritize hypothesis >
Design tests > Prioritize tests > Run tests >
Capture learnings > Make progress
Value Map- set of value proposition benefits
that you design to attract customers.
Customer profile- set of customer
characteristics that you assume, observe, and
verify in the market.
CUSTOMER PROFILE OVERVIEW
1. Customer segment- the groups of people or
organizations who share similar characteristics that you
aim to reach and create value for them.
●Demographics- age, gender, income, marital
status, ethnic background
●Geographics- local, national, regional,
international
●Behavioral- benefits, usage rates, patterns
●Psychpgraphics- activities, personality &
values, attitudes
2. Customer jobs- “What customers are trying to get
done?”
3. Customer pains- “What annoys the customer before,
during, & after getting job done?”
4. Customer gains- “What outcomes and benefits
customers want?”
5. Ranking- “What is the customer priority?”
Value Map
1. Products and services
2. Pain relievers
3. Gain creators
4. Rank by order of importance
Competitive Advantage
- Anything that gives a company an edge over
its competitors, helping it attract more
customers and grow its market share.
- Is what sets a business apart from its
competitors.
- Essential for a business to succeed,
whether it’s by ensuring higher margins,
attracting more customers, or achieving
greater brand loyalty among existing
customers.
Cost advantage- similar product at a lower
price
Differentiation advantage- price premium
from unique product
Main Types
1. Innovation
2. Quality
3. Efficiency
4. Customer responsiveness
5. Brand reputation
Sustainable competitive advantage
- set of assets, characteristics, or
capabilities that allow an organization to
meet its customer needs better than its
competition can.
- Difficult to duplicate or replicate
- Sustainable- the ability to continue doing
those things long-term
Distinctive capabilities
Tangible- intellectual property rights, exclusive
licences, statutory monopolies
Intangible- strong brands, leadership, tacit
knowledge & skills, teamwork, organizational
culture, business processes, partnerships
Reproducible capabilities- technical
capabilities, financial capabilities, marketing
capabilities, explicit knowledge, non-exclusive
licences
“WHY DO YOU NEED TO IDENTIFY YOUR
SUSTAINABLE COMPETITIVE ADVANTAGES?”
- Competitive advantages help you build a
better, more thoughtful growth strategy.
- Answers the question “How do you win?”
Formula for a competitive advantage- (Your
business + What you are best at + Why)
IDENTIFYING COMPETITIVE ADVANTAGE
1. Identifying strengths
2. Identify customer wants/needs
3. Find the overlap
4. Axe the strengths your competitors also
possess
BUSINESS PLAN
●The business plan for a high potential venture
reveals the business’s ability to:
- create or add significant value to customers or
end-users.
- solve a significant problem, or meet a
significant want or need for which someone will
pay a premium.
- have robust market, margin, and
moneymaking characteristics; large enough,
high growth, high margin, strong and early free
cash flow, high profit potential, and attractive
IRR.
- fit well with the founders and management
team at the time, in the market space, and with
risk-reward balance.
Business plan: What for?
●The plan becomes the point of departure for
prospective investors to begin their due diligence
to ascertain potential and various risk of the
venture:
- technological risk
- market risk
- management risk
- competitive and strategic risk
- financial risk
Key success factors are:
- The fundamental opportunity
- Resources
- Team
Do’s I. EXECUTIVE SUMMARY
●description of the business concept and
- Involve all team the business opportunity and strategy.
- Make the plan logical, comprehensive, ●target market and projections
readable, short ●competitive advantages
- Demonstrate commitment to the venture by ●cost
investing a significant amount & money ●sustainability
●the team
Don’ts ●the offering
II. THE INDUSTRY AND THE COMPANY AND
- No mysterious people ITS PRODUCTS/SERVICES
- No ambiguous, vague statements ●the industry
- Describe the technical jargons ●the company and the concept
●the products or services
Do’s ●entry and growth strategy
III. MARKET RESEARCH AND ANALYSIS
- Articulate what the critical risks and ●customers
assumptions are. ●market size and trends
- Disclose or discuss any potential problem in ●competition and competitive edges
the venture ●estimated market share and sales
- Identify several alternative sources of ●on-going market evaluation
financing IV. THE ECONOMICS OF THE BUSINESS
- Spell out the proposed deal: How much and ●gross and operating margins
for what ownership share, and how investors ●profit potential and durability
will win. ●fixed, variable, and semivariable costs
●months breakeven
Don’ts ●month to reach positive cash flow
V. MARKETING PLAN
- Spend money on developing fancy brochures ●overall marketing strategy
- Waste time writing a plan when you could be ●pricing
closing sales and collecting cash ●sales tactics
- Assume you have a done deal when you have ●service and warranty policies
a handshake or verbal commitment, but no ●advertising and promotion
money in the bank. ●distribution
VI. DESIGN AND DEVELOPMENT PLAN
Do’s ●development status and tasks
●difficulties and risks
●Be creative in gaining the attention of potential ●product improvement and new
investors products
●costs
●remember that the plan is not the business ●proprietary issues
VII. MANUFACTURING AND OPERATIONS
●accept customers that will generate a positive PLAN
cash flow, even it means you have to stop writing ●operating cycle
the plan ●geographical location
●facilities and improvements
●know your targeted investor group what they ●strategy and plans
really want and dislike (venture capital, angel ●regulatory and legal issues
investor, bank, leasing company). Tailore your VIII. MANAGEMENT TEAM
plan according to them. ●organization
●key management personnel
●let realistic market and sales projection drive ●management compensation and
the assumptions underlying the financial ownership
spreadsheet. ●other investors
●employment and other agreements and
stock option and bonus plans
 ●board of directors ●May be painful to leave out but the solution is still
●other share holders, rights, and viable without it
restrictions
●supporting professional advisors and ●May need some kind of work around
services
IX. OVERALL SCHEDULE Could have
X. CRITICAL RISKS, PROBLEMS. AND
ASSUMPTIONS ●Desirable but not as important as should have
XI. THE FINANCIAL PLAN
●actual income statement and balance ●Only do if there is extra time and budget
sheets
●pro forma income statements Won’t have
●pro forma balance sheets
●pro forma cash flow analysis ●Won’t have this time around at all
●breakeven chart and calculation
●cost control ●Out of budget
●highlights
XII. PROPOSED COMPANY OFFERING ●Nice to have but has no real impact on user
●desired financing experience
●offering
●capitalization 2. Create a prototype- develop a basic prototype
●use of funds that showcases the core features of your
●investor’s return product.
3. Test the prototype- conduct user testing to
gather feedback on the prototype.
4. Refine the product- use the feedback from
MINIMUM VIABLE PRODUCT user testing to refine the product
5. Launch the MVP
- “bare minimum” version of your final product. 6. Gather feedback- collect feedback from users
- Can be described as the “smallest version of a to identify any issues or areas for
new product that can be utilized to collect the improvement
maximum validated learning about 7. Iterate and improve
customers’ response with the least effort in
the shortest time”.

HOW TO BUILD MINIMUM VIABLE PRODUCT? “WHY USE A MINIMUM VIABLE PRODUCT?”

1. Identify the core features- determine essential Make-or-Break situation

features that your product needs to have to
solve the problem it aims to address. - there is more at stake when dealing with
product development and launch
MoSCoW prioritization
Real market product testing
Must have
- consumer behavior may differ from factory-
●Non-negotiable controlled tests

●Unable to deliver the end product without it Core value- Key values

●Unsafe without it - concise and direct nature of MVP allows

developers to improve core features that
●Without it the project is not viable solve customer problems
- helps to avoid more features, that disrupt the
Should have user experience

●Important but not vital Cost-effective and efficient

 - allows developers to release a low budget
version that meets core features, w/o any
frills.
MVP- KEY POINTERS
●Buyer/Customer persona- Remember that your
product should be targeted towards pre-existing
buyer personas. The best way to start is to focus on
one, preferably the most dominant persona.
●Key differentiator- Avoid an MVP clustered with
unnecessary features. Include those that are truly
central to the product, covering unique aspects of
your product that sets you apart from others
●Demand for potential features- This helps to assess
the features that truly resound with your target
audience. You can add incomplete, or even dummy
features that can be tested in the future.
●Overall idea and development- This prevents
investing time or effort in developing unwanted
features. This helps to get overall idea of the
features that should be further polished, and those
that need to be scrapped.
●Product assessment- The core reason behind
creating an MVP is to assess your product in real
market conditions, without investing significant
money in the development process.
●Market feedback- The prompt market feedback
allows you to modify your approach, thus saving
time and effort. The result is a product that has been
thoroughly tested and judged against the market
forces
4-step MVP process
1. Identify and understand your business and
market needs
2. Map out user journey(s)
3. Create a pain and gain map
4. Decide what features to develop
Benefits of MVP
1. Focus on the core value proposition
- MVP helps define the value proposition
clearly and narrowly. It helps define goals,
and needed functionality, and spend time
and money efficiently.
2. Reduces remakes
- Extra features may only complicate the user
experience. Keeping it simple will guarantee
minimum remakes of the product features.
3. Builds relationships with customers
- First users may provide you with the needed
feedback on the desired changes or
additions. This builds customer
relationships, creating a community.
4. Defines critical drawbacks
- It allows us to find weaknesses fast and
improve them, ensuring all the functions
work properly before going further.
5. Spends money efficiently
- As product development cycles are
iterative, there is no need to search for a
huge amount of money at once.
6. Innovative ideas
- Innovative ideas qualify as MVPs that make
a difference towards what was before.
7. Failure
- In the end, if your idea is proven to be a
failure, still a lot of money is not spent on it.
Advantage of developing MVP
1. Test the demand for your product – before
releasing a full-fledged product.
2. Your product does what it says on the tin
3. Avoid failures and large capital losses
4. Reduce implementation costs
5. Release your product to market in the
shortest time
6. Gain valuable insight into what works and
what does not work
7. There is room for evolution
8. Work directly with your clients and analyze
their behaviors and preferences
9. Grow with your customers
10. Gather and enhance your user base