Academic year 2020/2021
- Course ID
- Guido Meak (Lecturer)
Edoardo Crocco (Tutor)
- Degree course
- BUSINESS ADMINISTRATION - Curriculum: Finance and Accounting
- 2nd year
- Teaching period
- To be defined
- Course disciplinary sector (SSD)
- SECS-P/07 - economia aziendale
- Formal authority
- Type of examination
- Written and oral
Sommario del corso
In Fall 2020, this course will be taught by a serial entrepreneur with a background in Economics and Finance. The nudge will therefore be mastering the business plan from a Founding Team's point of view. The "business" being a start-up, a division of a corporate, or a product within a company.
The goal is understanding what our counterparts call a business plan in different moments and contexts, and being able to build one, evolve it over time, and deliver it. To ourselves, our team, our potential investors, our business partners.
For those amongst you pursuing the investor career, the course will give a practical no-BS view from inside the start-up. For all, we'll get a little bit into how to build a (successful) business.
We will have some guest speakers, if Mr. Covid will allow us.
Results of learning outcomes
Students will be able to evaluate Business Cases using the Business Model Canvas, a spreadsheet, and their critical thinking. You will know what type of document you need in what context and how to prepare it. You will be more likely to understand your context. You’ll learn how to deliver via email, one-on-one, via phone conversation, and from stage.
1) What is a business plan?
- What is a business, to start with?
- The internal plan
- The “spreadsheet”
- The presentation for investors, aka “the deck” or “the powerpoint”
- The “elevator pitch”
- The “one pager”
- The “three-liner”
- The executive summary and the business plan
2) Business Plan Structure
- The napkin or back-of-the-envelop: what do you want to do..
- .. and who will do what, when?
- The product: prototype, MVP, evolution and (final?) product
- The market: the Geoffrey Moore model. Beach-head: product, geographical, social niches
- Market sizing. Top-down and bottom-up.
- Go-to-market plan
- How to communicate it
- Your team
- Business structure
- The Kawasaki 10-20-30 model.
3) The Business Model Canvas
- The problem-solution logic
- Lean startup (Eric Ries)
- From product to product-market
- The pivot.
- The Business Model Canvas tool
4) Competitive Advantage and Unit Economics
- Customer Lifetime Value
- Customer Acquisition Costs
- Back to marketing costs and conversion metrics
- Define / adjust your business model by iterations
5) Let's build the spread-sheet
- We create and fill up the Excel file per each team
6) The financial system for new ventures
- Budgeting and business evaluation within an established company
- Start-ups: bootstrapped vs. financed
- The actors: F&F, Business Angels, VC funds, PE
- The rounds
- The VC mechanics: LPs and invest-divest cycle
- Evaluation and expected return
7) Group work
- Refining of the Excel model
- Building the set of documents needed to present the business
- Delivering them to the class via PowerPoint or KeyNote.
Frontal classes and group work
Learning assessment methods
Successful completion of the group work will substitute the final exam.
Suggested readings and bibliography
There are no required readings, but the following texts represent a good bibliography for students willing to deepen some of the main concepts:
- Geoffrey Moore - Crossing the Chasm. A great go-to-market classic and a must-read for those who really want to market an innovative product or service. We will touch on the fundamental concepts during the course.
- Eric Ries - The lean Startup. Another great classic, this time about building a company in general. Entrepreneurs should definitely read at least the first half. It contains concepts and a vocabulary that is common among us today.
- Brad Feld e Jason Mandelson - Startup e venture capital. A very technical book on venture capital deals. What to look for in the term sheets, the mistakes to avoid, the questions to ask, how to distinguish who is a friend from who really is not.
- Guy Kawasaki - The 10 20 30 rule. Article as brief as useful on how to present to potential investors. It's read in 10 minutes and delivers value for years.
The teaching activities modalities may vary according to the limitations imposed by the current health crisis. In any case, lectures will be online throughout the academic year.
Le modalità di svolgimento dell'attività didattica potranno subire variazioni in base alle limitazioni imposte dalla crisi sanitaria in corso. In ogni caso è assicurata la modalità a distanza per tutto l'anno accademico.
- Enrollment opening date
- 01/03/2020 at 00:00
- Enrollment closing date
- 31/12/2022 at 23:55