Page 37 - Gričar, Sergej, Barbara Rodica and Štefan Bojnec, 2016. Sandwich Management. Koper: University of Primorska Press
P. 37
Review of Theoretical Starting Points for Project 37
fortunately, not even a BMC can prevent all business ideas from failing.
However, it is a useful tool for those who believe that they have something
to offer others. The Lean Start-Up method gives advantages to experiment-
ing with detailed planning and praises our own intuition because of our
limitations when it comes to resources and time. When we have something
to show to our customers, only after that we can talk about MVP, which
stands for ‘minimum viable product’ and is usually still in the testing phase
(Casadesus-Masanell and Ricart 2011).
Big firms often finance their operations with help from banks. A start-
up’s source of financing however is achieved with help from venture cap-
italists. The latter take big risks and expect high returns in case the rele-
vant start-up manages to succeed and become profitable. Big funds with
enormous capitals don’t put all their hopes on one start-up, but rather in-
vest in lots of different startups and make a diversification of their invest-
ment. Standard expectancy is that only one out of hundred startups will
become profitable on a long term basis. Facebook, Twitter and Google are
well known examples of successful companies who started with funding
by venture capitalists. These companies were formerly micro-companies,
which over time grew to small, medium sized and are now international-
ly acclaimed. When collecting money from venture funds, it is the pitching
that is a fundamental factor as to how much money will be acquired. With-
out being confident in our business idea, nobody will be confident in us and
therefore won’t be prepared to help financially (Osterwalder et al. 2014).
Removal from traditional methods of developing business ideas, which
are still present in most business schools, do not satisfy today’s needs for a
rapid business environment. BMC serves as a fresh means to specify the
intention of our business idea. Sandwich management was developed on
modern directives with help from BMC. Our business ideas provide solu-
tions regarding lunch at work. They enable cutsomers to use their free time
efficiently and offer them a unique opportunity to request a sandwich with
customised ingredients. The latter benefactors can be achieved with help of
a web based application. Due to the lean approach that we used through-
out the project we avoided making a long questioner. Instead we made a
short and simple questioner with the most important questions concern-
ing our business idea and customer needs. The questioner was distribut-
ed in the region where we initially meant to start our business. Indicating
gender was not a factor of the research as its significance within modern
and developed countries is becoming obsolete (Stanojević 2014). Questions
for the questioner had been prepared researching literature on the topic of
BMC and VPC (Osterwalder and Pigneur 2010; Osterwalder et al. 2014).
fortunately, not even a BMC can prevent all business ideas from failing.
However, it is a useful tool for those who believe that they have something
to offer others. The Lean Start-Up method gives advantages to experiment-
ing with detailed planning and praises our own intuition because of our
limitations when it comes to resources and time. When we have something
to show to our customers, only after that we can talk about MVP, which
stands for ‘minimum viable product’ and is usually still in the testing phase
(Casadesus-Masanell and Ricart 2011).
Big firms often finance their operations with help from banks. A start-
up’s source of financing however is achieved with help from venture cap-
italists. The latter take big risks and expect high returns in case the rele-
vant start-up manages to succeed and become profitable. Big funds with
enormous capitals don’t put all their hopes on one start-up, but rather in-
vest in lots of different startups and make a diversification of their invest-
ment. Standard expectancy is that only one out of hundred startups will
become profitable on a long term basis. Facebook, Twitter and Google are
well known examples of successful companies who started with funding
by venture capitalists. These companies were formerly micro-companies,
which over time grew to small, medium sized and are now international-
ly acclaimed. When collecting money from venture funds, it is the pitching
that is a fundamental factor as to how much money will be acquired. With-
out being confident in our business idea, nobody will be confident in us and
therefore won’t be prepared to help financially (Osterwalder et al. 2014).
Removal from traditional methods of developing business ideas, which
are still present in most business schools, do not satisfy today’s needs for a
rapid business environment. BMC serves as a fresh means to specify the
intention of our business idea. Sandwich management was developed on
modern directives with help from BMC. Our business ideas provide solu-
tions regarding lunch at work. They enable cutsomers to use their free time
efficiently and offer them a unique opportunity to request a sandwich with
customised ingredients. The latter benefactors can be achieved with help of
a web based application. Due to the lean approach that we used through-
out the project we avoided making a long questioner. Instead we made a
short and simple questioner with the most important questions concern-
ing our business idea and customer needs. The questioner was distribut-
ed in the region where we initially meant to start our business. Indicating
gender was not a factor of the research as its significance within modern
and developed countries is becoming obsolete (Stanojević 2014). Questions
for the questioner had been prepared researching literature on the topic of
BMC and VPC (Osterwalder and Pigneur 2010; Osterwalder et al. 2014).
