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5 starting up

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Upon defining the Business Model elements, plan how to attract sales & investments through well-defined Startup Costs; a solid Prototype; an effective Elevator Pitch, and Sales & Networking

Upon defining the Business Model elements, plan how to attract sales & investments through well-defined Startup Costs; a solid Prototype; an effective Elevator Pitch, and Sales & Networking

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  • 1. Session 5: Starting UpThis SME webinar will start at5:00 pm Dubai 4:00 pm Riyadh 3:00 pm CairoFor tweeting: #ICME2013Session by: Shadi BannaGuest Speaker: Zakaria Ben HamoucheHosted by Faher Afra
  • 2. Starting UpFor tweeting: #ICME2013Session Agenda1. Recap from Previous Sessions2. Starting Up• Startup Costs• Your Prototype• Elevator Pitch• Sales & Networking3. Exercise: Practice your pitch4. Guest Speaker : Zakaria Ben Hamouche5. Winner of Social media activity6. Final Thoughts
  • 3. Starting UpFor tweeting: #ICME2013Shadi Banna,@shadibannaCo-founder & Managing Partner,Potential.com
  • 4. Starting UpFor tweeting: #ICME2013MentoringFocus2-Entrepreneurship& Innovation3- BusinessModel (External)•Entrepreneurship•Innovation•The OpportunityDevelopmentStreamsHow will we execute5- Starting UP•Target Segment•Value Proposition•Channels & ClientRelationship•Revenue•Activities•The Team & Resources•Partnerships•Costs•Startup Costs•Your Prototype•Elevator Pitch•Sales & NetworkingPolishing the newexpansionarybusiness ideaIdentifyingUnique ValuePropositionMilestoneAttracting sales &investmentsUnderlyingComponentsSocial Network and LearningManagement System to manageeach individual’s developmentBlended Learning Programsusing Video Conferencing tominimize costsPractical and relevantexperience from regionalexpertsCreate an ecosystem thatlinks incubators, universitiesetc..6 WebSessionsSupport toParticipantsToday’s Focus: Starting UpBuilding the prototype4- BusinessModel (Internal)1-Introduction6- TeamRegistration
  • 5. Starting UpFor tweeting: #ICME2013Session Agenda1. Recap from Previous Sessions2. Starting Up• Startup Costs• Your Prototype• Elevator Pitch• Sales & Networking3. Exercise: Practice your pitch4. Guest Speaker : Zakaria Ben Hamouche5. Winner of Social media activity6. Final Thoughts
  • 6. Starting UpFor tweeting: #ICME2013The Business Model Canvas
  • 7. Starting UpFor tweeting: #ICME2013Business Model: External Elements
  • 8. Starting UpFor tweeting: #ICME2013Business Model: Internal Elements
  • 9. Starting UpFor tweeting: #ICME2013Session Agenda1. Recap from Previous Sessions2. Starting Up• Startup Costs• Your Prototype• Elevator Pitch• Sales & Networking3. Exercise: Practice your pitch4. Guest Speaker : Zakaria Ben Hamouche5. Winner of Social media activity6. Final Thoughts
  • 10. Starting UpFor tweeting: #ICME2013Starting Up• Launching a new enterprise has always been a hit-or-missproposition.• Founders used to write a business plan, pitch it to investors,assemble a team, introduce a product, and start selling as hardas you can.• That was the old way….
  • 11. Starting UpFor tweeting: #ICME2013But today things are more agileThe “Lean Start-up” approach:• Experimentation over elaborateplanning.• Customer feedback over intuition.• Iterative design over traditional“big design up front”development.
  • 12. Starting UpFor tweeting: #ICME2013The lean approach looks as followsTest itoutBusinessModelTry tosellReDesignbased onfeedbackRapidPrototypeReintroduce
  • 13. Starting UpFor tweeting: #ICME2013Quote“You see things; and you say, Why? But I dream things that neverwere; and I say, "Why not?”George Bernard Shaw
  • 14. Starting UpFor tweeting: #ICME2013Your Business Model: Sketch out your hypotheses
  • 15. Starting UpFor tweeting: #ICME2013Your Business Model: Listen to customers
  • 16. Starting UpFor tweeting: #ICME2013Your Business Model: Quick, responsive developmentRequirementsAnalysis &DesignImplementationTestingEvaluationPlanningInitialPlanningDeploymentMinimumViable ProductCustomerFeedback
  • 17. Starting UpFor tweeting: #ICME2013Your Business Model: Determine your startup costsEstimate the costs of doing business for the first months:• One-time costs such as the fee for incorporating your business or theprice of a sign for your building• Ongoing costs, such as the cost of utilities, inventory, insurance, etc.Decide whether these costs are essential or optional.
  • 18. Starting UpFor tweeting: #ICME2013Your Business Model: Determine your startup costsEssential expenses can either be:• Fixed expenses include rent, utilities, administrative costs and insurancecosts.• Variable expenses include inventory, shipping and packaging costs, salescommissions, and other costs associated with the direct sale of a productor service.The most effective way to calculate your startup costs is to use a worksheetthat lists both one-time and ongoing costs.
  • 19. Starting UpFor tweeting: #ICME2013Your Business Model: Stay Lean & AgileLean TraditionalStrategyBusiness ModelHypothesis drivenBusiness PlanImplementation drivenNew Product ProcessCustomer DevelopmentGet out of the office and test hypothesisProduct ManagementPrepare offering for market following alinear step-by-step planEngineeringAgile DevelopmentBuild the product iteratively andincrementallyAgile or Waterfall DevelopmentBuild the product iteratively or fully specifythe product before building it
  • 20. Starting UpFor tweeting: #ICME2013Your Business Model: Stay Lean & Agile - continuedLean TraditionalOrganizationCustomer and Agile Development TeamsHire for learning, nimbleness and speedDepartments by FunctionHire for experience and abilityFinancial ReportingMetrics that matterCustomer acquisition cost, lifetime customervalue, churn, viralnessAccountingIncome statement, balance sheet, cash flowstatementFailureExpectedFix by iterating on ideas that workExceptionFix by firing executivesSpeedRapidOperates on good enough dataMeasuredOperates on complete data
  • 21. Starting UpFor tweeting: #ICME2013Building your Prototype: Advantages1. It enables you to test and refine the functionality of your design.2. It makes it possible to test the performance of various materials.3. Itll help you describe your product more effectively.4. It will encourage others to take you more seriously.
  • 22. Starting UpFor tweeting: #ICME2013Building your Prototype: Tips1. Don’t do it alone2. Set up a time limit3. Never write on the business model canvas, use post-itsPrototypeFailLearn
  • 23. Starting UpFor tweeting: #ICME2013Entrepreneurs are always pitching
  • 24. Starting UpFor tweeting: #ICME2013Your PitchKEEP IT SHORT AND SIMPLE
  • 25. Starting UpFor tweeting: #ICME2013Quote“I didn’t have time to write you a short letter – so I wrote you along one…”Mark Twain - Famous American writer
  • 26. Starting UpFor tweeting: #ICME20134. Present3. Practice1. Prototype 2. PreparePrototypePreparePracticeDeliverThe Tasks
  • 27. Starting UpFor tweeting: #ICME2013Role-playDrawing Simple mock-upSoftwaredemoVideoPrototypePhysical orexperienceprototype?
  • 28. Starting UpFor tweeting: #ICME2013Content VS Delivery?
  • 29. Starting UpFor tweeting: #ICME2013Structure
  • 30. Starting UpFor tweeting: #ICME2013Jeff Hoffman – Be DisciplinedThe importance of story telling
  • 31. Starting UpFor tweeting: #ICME2013PracticePractice• Train to stay within the time limit• Ask your buddy team
  • 32. Starting UpFor tweeting: #ICME2013Sales & Networking• Active networking is crucial for entrepreneurs• Choose your spots• Work the opportunity• Lend a shoulder• Hand out those business cards• Delve for contacts online• Find a way to add value• Plant a hook
  • 33. Starting UpFor tweeting: #ICME2013Session Agenda1. Recap from Previous Sessions2. Starting Up• Startup Costs• Your Prototype• Elevator Pitch• Sales & Networking3. Exercise: Practice your pitch4. Guest Speaker : Zakaria Ben Hamouche5. Winner of Social media activity6. Final Thoughts
  • 34. Starting UpFor tweeting: #ICME2013Exercise: Mad libs for pitchingMy company, (Company name)is developing (a defined offering)to help(a targeted audience)(solve a problem)(with secret sauce)
  • 35. Starting UpFor tweeting: #ICME2013Set your mind to it & Get ready for the Challenge
  • 36. Starting UpFor tweeting: #ICME2013Session Agenda1. Recap from Previous Sessions2. Starting Up• Startup Costs• Your Prototype• Elevator Pitch• Sales & Networking3. Exercise: Practice your pitch4. Guest Speaker : Zakaria Ben Hamouche5. Winner of Social media activity6. Final Thoughts
  • 37. Starting UpFor tweeting: #ICME2013Your Exercise• Create a message on twitter and/or Facebookposted on the Intel Business Challenge pages toencourage others to register to the Intel challenge.• For the most re-tweeted message on twitter andthe most liked message on Facebook, we willreward a mini-iPad• Competition is open till 12th of May• Be creative!WIN!
  • 38. Starting UpFor tweeting: #ICME2013Winner of Social Media Exercise: Anas Hamra
  • 39. Starting UpFor tweeting: #ICME2013Session Agenda1. Recap from Previous Sessions2. Starting Up• Startup Costs• Your Prototype• Elevator Pitch• Sales & Networking3. Exercise: Practice your pitch4. Guest Speaker : Zakaria Ben Hamouche5. Winner of Social media activity6. Final Thoughts
  • 40. Starting UpFor tweeting: #ICME2013Suggested Readings
  • 41. Starting UpFor tweeting: #ICME2013Final ThoughtsThe value of an idea lies in the using of it.Thomas Edison
  • 42. Starting UpFor tweeting: #ICME2013Intel Challenge ME Facebook PageJoin and Like us on Facebook: Intel Challenge ME
  • 43. Starting UpFor tweeting: #ICME2013Intel Challenge ME TwitterFollow us on Twitter: @ICME2013
  • 44. Starting UpFor tweeting: #ICME2013Sample of video cuts from previous sessionsGo to http://potential.com/resources/training-videos/ to watch videoclips on related sessions
  • 45. Starting UpFor tweeting: #ICME2013Thank You.