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Session 2: Marketing and Sales; Business Models
Wednesday, January 22, 2014
6:00pm to 9:00pm, Room: 10-250
Part 1: Marketing and Sales
Many entrepreneurs, especially technology based entrepreneurs, are accused of being too in love with their technology or concept. They rationalize that if they develop a better mousetrap then the product will sell itself. However, a good technology or product idea is a necessary but not a sufficient condition to establishing and growing a successful business venture. Who will buy the product? How will you reach buyers? How much will they pay?
If you have an idea for a product or service how do you determine whether there is a market for it? How do you develop a marketing strategy? How do you turn your idea and market research into sales? What do you need to do to convince potential investors that there is a market and that your idea is viable? If you don't have a specific product or service idea but you see a potential need, how do you turn the need into a product or service?
This session will discuss these issues and provide guidance on how to approach the marketing section of your business plan.
Reading:
- Moore, Geoffrey A., Crossing the Chasm, Marketing and Selling High-Tech Products to Mainstream Customers, HarperBusiness 1991, Chapters 1 and 2. (See Course Reader).
- Review the market and technology sections of the Virtual Ink Plan.
Speaker
Bob Jones
Serial Healthcare Industry Entrepreneur
Read his bio here.
Bob Jones at his Other Job - www.bluesdogsboston.com
Part 2: Business Models
You have identified a market. Now the most important question "How
Do You Make Money"? This session will discuss Business Models.
What are some common business models and when are they most appropriately
used?
Readings:
- Christensen, Clayton and Raynor, Michael, The Innovator's Solution, Harvard Business School Press, Chapter 2 "How Can We Beat Our Most Powerful Competitors" (See Course Reader).
- Although it is not included in the Course Reader, we recommend the book Business Model Generation as a useful framework for thinking about Business Models. For the class please review:
Speaker:
Rich Kivel
Serial Healthcare Industry Entrepreneur
Read His Bio Here.
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