ArabNet 2010 Pre-Conference Workshop in Cairo

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The ArabNet Workshop took place yesterday in Cairo. The gathering was organized by Muhammad Mansour and sponsored by Souq.com. The workshop brought together over twentyone entrepreneur from startups, web-developers, geeks and journalists interested in the attention space. It was a very refreshing, open and candid dialog about the different issues and faces of Entrepreneurship.

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ArabNet 2010 Pre-Conference Workshop in Cairo

  1. 1. ArabNet 2010 Cairo Workshop<br />Omar Soudodi<br />GM of Souq.com Egypt<br />
  2. 2. Every innovation starts with a dream <br />
  3. 3. The internet today <br />
  4. 4. Factors of production <br />Entrepreneurship <br />Land=Technology <br />Capital <br />Labor=Management team <br />
  5. 5. Entrepreneur, is a French English word meaning "one who undertakes an endeavor". Entrepreneurs assemble resources including activity innovations, finance and business acumen in an effort to transform innovations into economic goods<br />Resources <br />Innovation <br />Finance <br />Business Acumen <br />Transform it into a business <br />
  6. 6. Innovation<br />
  7. 7. Innovation<br />
  8. 8. Product Definition<br />Degrees of digitization:<br />The Product (Service)<br />Partial Electronic product areas<br />Pure Electronic product<br />Delivery Agent<br />Virtual Product<br />The Process<br />Electronic Product<br />Traditional <br />Product or service<br />Virtual Process<br />Physical product<br />Electronic Process<br />Physical Process<br />Virtual Player<br />Physical Agent<br />Electronic Agent<br />
  9. 9. Product Analysis<br />Social Media Implementations <br />Analysis Stage & <br />Information <br />Architecture <br />Design Criteria for an electronic interface <br />NavigationEasy for visitors to find their way around your application<br />Consistency The look & feel consistent from page to page? <br />Performance How long does it take for page to appear? <br />Appearance Is the site aesthetically pleasing? <br />Quality Assurance Does the site algorithm work properly? <br />Interactivity Does the applicationencourage the user to play continue? <br />Security Does the customer feel safe while using the application? <br />Privacy Is customer information protected? <br />Scalability Will the application increased usage will be supported by <br /> the initial infrastructure and is it upgradeable? <br />Workflow<br />Start<br />finish<br />Business Process <br />Engineering<br />Process Architecture<br />Customized for various<br />Users and markets<br />Business<br />Partner<br />Employees<br />Vendor/<br />Supplier<br />Consumer<br />Target B <br />Target A<br />
  10. 10. Business Acumen <br />
  11. 11. Business Acumen-Defined<br />Is a concept pertaining to a person's knowledge and ability to make profitable business decisions. <br />Research:<br /><ul><li> Market Behavior
  12. 12. Consumer Behavior
  13. 13. Trends in that particular sector </li></ul>Putting the business plan together: <br /><ul><li> Executive Summery (wait until the end to draft it)
  14. 14. Finalize table of contents </li></li></ul><li>Business Plan tips <br /><ul><li>Don’t use business Jargon
  15. 15. Don’t be trite; keep repeating yourself
  16. 16. Keep some information back so you have something to talk about when you meet potential investors
  17. 17. Preempt by incorporating all the challenges and weaknesses of your model and tell investors your plans about tackling those challenges
  18. 18. Develop an elevator pitch (two minutes or less) you never know when you will meet the right investor and how much time you have to pitch the idea to
  19. 19. Develop a dynamic timeline and keep updating it
  20. 20. Keep business plan short and sweet no one has time to read a 100 page document </li></li></ul><li>Financials <br />
  21. 21. Financials <br /><ul><li> Financial Modeling www.docstoc.com (Validated assumptions)
  22. 22. Financial Projections (five years)
  23. 23. Breakeven point
  24. 24. Burn Rate
  25. 25. Evaluate your idea if possible : Discounted cash flow or benchmark (if any)
  26. 26. Traction (survey target audience) </li></ul>How to talk to investors <br /><ul><li>know your numbers-trust me they will quiz you
  27. 27. Don’t take it personal they will punch wholes in your plan and numbers “its their job”
  28. 28. Success ratio is less than 1%
  29. 29. Swimming with Sharks
  30. 30. Manage your expectations but don’t give the store away </li></li></ul><li>Resources <br />
  31. 31. Management Team <br /><ul><li> Investors invest in people not paper or ideas
  32. 32. Competency Matrix and gather your team accordingly
  33. 33. Level of involvement </li></ul>Advisory board <br /><ul><li> Identify various professionals in different areas of your business to help you while your putting the business plan together
  34. 34. Can make introductions to key individuals in your sector
  35. 35. Name association gives your business plan weight </li></li></ul><li>Putting it together <br />
  36. 36. You <br />‘re it <br />
  37. 37. You are going to feel every emotion possible <br />
  38. 38. Putting it together <br />Business Model <br />Business Plan <br />Research <br /><ul><li>Executive Summery
  39. 39. Background
  40. 40. Market Trends
  41. 41. Business Case
  42. 42. Five years projections (Ac & Cash)
  43. 43. Breakeven analysis
  44. 44. Timeline
  45. 45. Management team
  46. 46. Marketing strategy
  47. 47. Product architecture </li></ul>Financials <br />Management team <br />Investor relations <br />
  48. 48. Q & A <br />

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