1. Building a Business Model(around your invention, service, idea) By Lisa Calkins CEO Amadeus Consulting
2. Your Invention, Service, Idea Why Now Timing, SBA funding, Competition Weak Why Not Traditional Bank Financing Why You Passion and Vision for the Idea No excuses, Own Your Choice
3. Amadeus Story 15 years ago, I had a vision Today I have Amadeus Consulting What I did know How to listen and talk to clients How to share my vision and convince others of my ideas How to manage teams, people, projects What I didn’t know Everything else
4. Business Plan – Yes and No Do you need one only if seeking funding - NO Strategic & Tactical Components (“1” pagers) Overall Vision : What, Why, How Marketing and Sales Strategy, includes competitive analysis and relevant market data, patents 1-3 yr P&L, Balance Sheet Summary (supporting details), Excel is your best friend Organization Chart (future roles) – Executive and Leadership Teams Notice (The “Invention”) is not on this list 20 page plan – Maybe, if this is what YOU need
5. Your VisionWhat, Why, How Sell your idea First have to “See” your vision (mind, eyes), then “Believe” in your vision (head and heart), then “Share” your vision (words and hands) Passion, energy, ANDfacts Clear, concise, professional Must be one page: write, then edit, edit and edit – then seek outside opinions, write, edit, edit and edit, repeat.
6. See, Believe, Share See your vision – Mind, Eyes Describe in 1 or 2 sentences your invention, service, or idea Believe in your vision – Head and Heart Tell me why it will succeed, define success ($, lifestyle, etc) Share your vision – Words and Hands Show me the invention, service, idea
7. Marketing and Sales Strategy In the end, what really matters is will your invention, service or idea sell Most forget there are two equally important factors to the SELL answer both the HOW : not just build a website and they will come, how will you attract your customers, how will you close, how much will they pay, how will they pay, how will you retain, how will you service/support, how will (fill in the blank) the WHO : 1 person, a team, wholesalers, reps Who will lead: if not you, then who and why
8. Competitive Analysis You (almost always) HAVE competitors now and in the future You always have obstacles, how will you tackle the ones you know about Market: how big, who owns, now and future iPhones – what happens when Blackberry leads, etc. No one will believe you will “own” the market out of the gate Data, Data, Data : great place to hire an expert and pay for data BUT first, get your Vision and Framework built
9. Profit and Loss1 to 3 year “Plans” Profit and Loss Projections Summary Income / Revenue (~ 5 line items) Service lines Product Categories Subscriptions Common Mistakes Pricing model part of Sales and Marketing Strategy – better be believable otherwise all this work is “unbelievable” Expenses (~ 5 line items) Categories Startup Costs Sales and Marketing Cost of Goods Sold Operations General Business Common Mistakes One time expenses are not one time Product built, how will it be maintained, shelf life? Sales and Marketing reasonable % of revenue, prior to sales, first 6 months, ongoing Underestimating expenses (Legal, HR, marketing materials)
11. Self Reflection What are you good and not good at? Not tasks but behavior Strategic Thinker, Visionary, Customer Focused, Detailed, Decision Maker by gut or data, Process STRONGLY recommend you figure this out – you don’t change these types of things With that said…you will learn and do (legal, hr, accounting)
12. Everything is Possible Amadeus Consulting Guiding Principle So think of all the ways to make something happen…and then evaluateROI Funding Partnering Consultants Hiring ROI of not doing it
