Presented to future entrepreneurs of Manchester Business School on 5 March 2007 By Manoj Ranaweera Founder and CEO of ebdex Ltd Realising Your Dream http://www.manojranaweera.com http://www.ebdex.co.uk [email_address]

On Death Bed How do you want to be remembered?

Your Dream http://www.necker.com

Your Inspiration

Two Paths Corporate Start Up (Unknown) Low Risk - Low returns Monthly income High Risk - High (potential) returns No initial monthly income Impact on family Life style

There is no right or wrong way Success depends on how you measure it!

My Dream @ 34 34/37/36 MBA Marketing Business development Operations management Project management Design and engineering Full project life-cycle Accelerate Your Dream!!! Leave a legacy! 40 Senior Executive 45 Board Director 50 CEO

34/37/36 MBA

Marketing

Business development

Operations management

Project management

Design and engineering

Full project life-cycle

Idea/concept Cracking idea! – is it business worthy! Validation - Validation - Validation Customer pain Pain relief Better than the competition Sustainable competitive advantage Up and down the value chain What about vision?

Validation - Validation - Validation

Customer pain

Pain relief

Better than the competition

Sustainable competitive advantage

Up and down the value chain

Team 3 to 4 Single founder ideas - tough Right skill sets Leadership Product/service development Sales Operations Commitment Volatility Keep income streams open! Don’t get burnt out! Share the risk!

Single founder ideas - tough

Right skill sets

Leadership

Product/service development

Sales

Operations

Commitment

Volatility

Keep income streams open!

Funding Delay raising external funding Family friends and fools Grants Angel funding Seed corn funding Debt finance Venture capital Don’t forget: You need to live

Delay raising external funding

Family friends and fools

Grants

Angel funding

Seed corn funding

Debt finance

Venture capital

Product/Service & Sales Product development lifecycle Sales Alignment Pricing Promotion Delivery Management Customer Support Can you scale?

Product development lifecycle

Sales

Alignment

Pricing

Promotion

Delivery Management

Customer Support

Valuation Hang on to equity as long as possible Don’t get too hung up about equity

Hang on to equity as long as possible

Don’t get too hung up about equity

What to watch for? Founders – right skill sets Team – hire the best Location – Silicon Valley vs. Manchester Product – don’t underestimate development cycle Differentiation – better than others – ensure sustainability Pricing right Boot strapping – ensure income stream at all times Ask for help – get it free as much as possible Choose the right platform Speed to market Launching too early – alpha, private beta, public beta User involvement from the beginning Raising too little money – watch cash flow Half hearted effort

Founders – right skill sets

Team – hire the best

Location – Silicon Valley vs. Manchester

Product – don’t underestimate development cycle

Differentiation – better than others – ensure sustainability

Pricing right

Boot strapping – ensure income stream at all times

Ask for help – get it free as much as possible

Choose the right platform

Speed to market

Launching too early – alpha, private beta, public beta

User involvement from the beginning

Raising too little money – watch cash flow

Half hearted effort

NW Start Up 2.0 15 March 07 @ KPMG Manchester http://www.nwstartup20.co.uk Anish Kapoor – serial entrepreneur (Telecity, Yuuguuu) Ed French - VC Robert Wakeling – entrepreneur (Wadaro) Mark Birbeck – Technologist (X-Port) Rhys Jones – serial entrepreneur (Accountis)

http://www.nwstartup20.co.uk

Anish Kapoor – serial entrepreneur (Telecity, Yuuguuu)

Ed French - VC

Robert Wakeling – entrepreneur (Wadaro)

Mark Birbeck – Technologist (X-Port)

Rhys Jones – serial entrepreneur (Accountis)