BUSINESS–FINANCE

Hi Learners,
 
Hope you enjoyed the introductory Business–Finance session today. I am sharing details around the
assignment that Sarthak mentioned in class.
 
The goal of this self-directed activity is to familiarize you with the framework for thinking through
and evaluating a business idea. The goal is to stretch your thinking and build a step by step thought
process habit. By completing this activity, you will gain the ability to produce and defend concepts in
the real world. It will also be an important foundation for the rest of the sessions in this course.
 
See the steps as follows:
 
1. Think of a Business Idea
- Not necessarily a tech-based idea, it could be anything that already exists as well
- It would be nice if you believe it has the potential to add 10x value
 
2. Fill up the Business Model Canvas
- Format is shared on Slide 39 of Session 1. HD image of the same attached. Also find the deck from
today, attached
- Follow the same order of filling it up as given as serial number 1, 2, 3 on the top of each section. 1
is Customer Segment, 2 is Value Proposition, 3 is Customer Relationships...
 
3. Prepare a Note for Submission
a) Describe your business in not over 1 line
b) Specify the type of business it is - manufacturing, subscription, SaaS, e-commerce, transaction...
all of them are described in the slides (41-44) for Session 1 
c) In the specific order from 1 to 9, answer all questions of the Business Model Canvas
d) It can be on Word, Excel, PPT - however, you like
 
4. Submit the Assignment
- Your submission will be counted as a point for this individual assessment. However, we will not be
grading the content of your assignment at this point
 
 
FAQs
 
1. Can the business be not-for profit? - Yes
2. Is the customer survey needed for the business idea? - No, not required
3. Will I be marked on how good is my idea? - No. You will only be marked on the fact whether
you've submitted it or not. Not grading or judging the suitability of any idea. But hoping it's
something that is practical and feasible, in YOUR opinion.
4. If my idea is not being evaluated for the grade, why is this relevant? - It will give you a framework
to ask specific questions while building your financial model, which will eventually be graded.
5. I need clarity on what the content within the Business Model Canvas means - Just go by what you
feel it means. There is no right or wrong answer. If there's a word you don't understand the meaning
of, Google it or look it up in the dictionary, and write based on whatever you understand of the word
in context of your business. If something does not apply, write that it does not apply or you think it
does not apply to your business, and that's absolutely acceptable at this stage.
6. Do I need to have an Excel or calculation of P&L - Not needed at this stage, but it's good if you're
thinking through it. Thinking about it and attempting to list it is good, but not absolutely necessary.
It's after all your business, and it helps if you go in detail. There is no set format for this. Just use
common sense and your past experience. No right or wrong answers.