Venture Plan & Innovation Reflection: Writing a Solution-Oriented Venture Plan

Final assignment – Venture Plan & Innovation Reflection Final assignment – Venture Plan Write a Venture Plan for your own Solution (1500-2000 words)

Define the Problem & Proposed Solution Describe the Customer & Business Model & Prototype Collect survey data / Conduct Interviews to validate your concept / Refine Concept Describe the business model, value proposition and provide a financial projection Describe how you will launch and scale Describe the team composition, how the team will contribute to the success of the solution and define the culture of the team. Also provide strategies to deal with potential barriers to success.

Reflection – What did you learn and how will you improve Which factors are critical for leading in innovation? Which previous assumptions about leading for innovation have changed? Which steps will you take to succeed in leading for innovation from now on? Other In the assignment section of mycourses you can find further details on which requirements to focus on for your venture plan & innovation reflection. I want to highlight a couple of these items to help you with your assignment: Define the Problem & Proposed Solution

• Similarly to the problem definition in your presentation, be sure to quantify the impact of the problem in your final assignment (e.g. ...% people losing their jobs, ...by 2025 no polar bears, .....200 tons of plastic dumped in the sea every day, etc). BTW did you know that 38% of previous take-home assignments didn't contain a well-investigated problem statement? Don't be one of them :)

• As you have learned in class, the HMW problem statement and proposed solution to this problem is something that changes throughout your research. Make sure to have a starting statement, but be willing to change (pivot) the problem statement and your solution once you have completed your work. See this section as an evolving executive summary in a sense. Launch, Scale and Financial Projection

• These three items are interlinked and are based on the identified addressable market (size), customer segments, and their needs. Be sure that these sections are closely aligned.

• In addition, consider narrowing down your customer focus (beachhead market), as this helps you identify which customers to focus on first (specific pains, lifestyle, profession, etc), with which features of your MVP and how much they are willing to pay. Note 'the frequent traveler' segment is not a beachhead market (it's too broad!).

• As for scaling, consider not only scaling in terms of growth using your existing MVP, but also consider which other features to add to create a better product - market fit over time and to grow your business idea reaching a larger audience.

• For the financials, make a basic financial projection of your innovation based on expected earnings / # subscribers / # users / costs to calculate a possible payback period (e.g. for a loan from a bank, or just to calculate when you plan to become profitable). More than this is not necessary for your paper. o However, If you are asking for VC funding, consider how much times the investment you want to give back to VCs for their investment in 5 years (5x or 10x depending on the maturity of your innovation). To calculate the number of shares to give VCs for their investment will depend on the valuation of your company. Review similar companies in your field and take the average market cap of 5 companies to have an idea (aka guestimation) how much your company should be worth. You can then calculate (working back) your 5-year earnings using various multipliers (e.g. revenue/cashflow, transactions, users, EBIDTA, etc). Innovation Reflection

• Be sure to reflect deeply on your classroom experiences and assignment execution to help you answer this part of your assignment. True leadership starts with leading one's self first before leading others. Reflection is your gateway to self-awareness, personal development, and leadership impact. note: i already defined the problem i want to talk about the difficulties that the small investment faced when they decide to invest in restaurants & coffees investment in Saudi Arabia