“Value For Money”
Creo Incubator co-hosted “Value For Money” with Enterprising Women at the University of Oxford on December 9th, 2020, to explore various strategies that attract investors to your business and how effective business models are designed. This virtual panel discussion brought together founders and pioneers in the entrepreneurial field to discuss unique methods required to share your brand's value and attract investors.
Dr Martine Abboud, the founder of Creo Incubator, hosted the event and focused on the importance of creating value. We were pleased to have diverse multinational participants who joined our event from multiple countries, including London, Oxford, Beirut, Chicago, and Amsterdam.
The panel discussion included remarkable guest speakers Lynne Marlor and Katie Heming that focused on sharing their valuable knowledge, experience in the field, and unique ideas to guide future entrepreneurs to market their innovative business ideas and secure the right investors for their type of business. Our speakers discussed essential goals and objectives in the business world, focusing on business modelling and valuations.
Lynne Marlor, CEO of Transformational Strategies, shared three different approaches to valuation, explained how investors value a company through a hands-on case study, and highlighted how investors judge you as a business owner.
Heming focused on structuring a business model for effective growth while checking market assumptions. She focused on three pillars for assessing the business' value for money:
- economy: what comes into your company,
- efficiency: the minimal input to achieve maximum output,
- effectiveness: are investors and customers getting what they want?
Marlor and Heming agree that your business is more than tangible assets as part of the valuation equation includes intangible assets. It is, therefore, essential for the team to be professional and informed. Heming stresses: "Confidence begins with yourself." Think of your worth. As an entity, trust begins with yourself. You need to know your organisation inside out. When you approach investors, this is important. She added that you must look in-depth at the brand and value proposition you bring to the market through quality thinking.
While sharing elements of the Lean Business Model Canvas, Heming emphasised the importance of knowing the business fundamentals. The business model is interactive; "sharing your choices should be data-driven and knowledge-driven.'' When Heming referred to partners and leading suppliers as a frequently ignored element of the business model, Marlor added that you must consider your rivals from a particular lens. Sometimes, it is beneficial to differentiate between competitors, balance these aspects and develop a complementary relationship with a competitive partner. "As entrepreneurs, there is tremendous pressure when we launch. Remember, friends grow as you try to improve," comments Heming. As an entrepreneur, you will set expectations on what customers want and how they want it. To determine if your company addresses the market's questions, you must step forward and communicate with your target audience.
“Value for Money” attendees gained critical insight regarding what investors search for when evaluating founders and how to work on a lean business model canvas as a moving document towards growth.
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