Business Model Canvas and Lean approach Maria Nikolou, PhD, MBA Senior Programme Manager Entrepreneurship Centre, Saïd Business School 28th October 2014 General facts and ideas… 2 Start-ups are NOT just smaller versions of large companies! 3 Start-ups search for business models NOT execute known business models. ‘A start-up is a temporary organization design to search for a business model.’ - Steve Blank 4 Business model vs 5 Business model 6 Business model ? 7 Launching a business… • Write a business plan • Pitch it to investors • Assemble a team • Develop a product/service • Introduce a product • Start selling 8 Launching a business… • Write a business plan • Pitch it to investors • Assemble a team • Develop a product/service • Introduce a product • Start selling 9 Process of starting a company Old way: New way: • Elaborate planning • Experimentation • Intuition • Customer feedback • Up front investment • Iteration or pivot in development Higher risk Lower risk 10