1 Introduction – the why
In Week 7 you learned about the different business relationships and interconnections that make up different ecosystems in business contexts. You learned how you can connect into networks to access resources, build your knowledge, link up with suppliers and customers, and cultivate strong relationships with supporters, regulators and business partners. Added to the overview of the industry and introduction to stakeholder analysis in Week 1, you should now have a pretty good idea of who your primary and secondary stakeholders are and which ecosystems they belong to, and where you want to situate your own idea in these networks.
In Week 3 you learned about different types of data you are likely to be creating and using with your drone business idea, as well as the different regulatory contexts you will need to consider. Added to Weeks 2, 4, 5 and 6, where you learned about different business models and used the sustainable business model canvas to develop your idea, you should now be able to identify what your business idea is, how you plan to implement it and when you want to achieve it.
This week is all about the ‘why’. Of course, you will have already identified the core value proposition for your business idea. Many people consider purpose to be key to success. For example, Jesper Lowgren, technology transformation guru and author of the book On Purpose (2014), wrote ‘An extraordinary business starts with extraordinary people. Extraordinary people start with purpose.’
Such inspirational quotes from successful entrepreneurs, thought leaders and influencers are pretty common. However, what the past seven weeks should have helped you to understand is that there is a lot of information, planning, networking and hard work that goes into making a business idea successful. Knowing your purpose – your why – is what drives your ambition toward success. And it is this ambition and purpose that you want to communicate to your stakeholders.