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Company Builder

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  • 1. Company Builder Move from idea to company – Fast!
  • 2. Company Builder Speed is everything Price Premium Competitor lock-out Market leadership Biggest hurdle is from idea to launch
  • 3. Ideas Every business starts with an winning idea… then markets provide feedback Quick response to market feedback is critical for success
  • 4. Often the first idea is not what’s launched Idea Idea Idea validation is Valid ? iterative, not linear! Expanded Prototype Testing Idea Validation During idea validation be open to change. Prototype Concept Feedback Your baby may grow Prototype Concept and look different over time.
  • 5. What if you could……. Focus energy on listening to the market Reduce the and selling “noise” of building a company
  • 6. Idea to Profit Framework Validate Build the Launch the Grow the the idea Business Business Business …….. its not about launching an idea, it’s about profits! “Show me the money”
  • 7. Validate the idea Validate the idea • Create initial business plan • Size the market • Define the buyers (persona) • Develop prototype • Recruit Board of Advisors/Industry Experts • Conduct in-depth market research and validation • Estimate costs/volumes/selling prices and create initial financial model • Decide go/no go on opportunity
  • 8. What’s a Plan Got to Do with It • First step is to create a business plan – Merely writing down decisions creates rigorous thinking – The better the up front planning, the lower the risk of failures – Use a complete business plan framework • But focus on understanding the market, differentiators, and competition • Using a “plan” to drive activities, you’ll move faster, chase fewer geese and reduce the risk you’ll lose money
  • 9. Build the Business Build the Business • Continue prototype research and refinement (Increase reach and depth of focus group) • Update the business model (C/V/P) • Create legal entity • Recruit key management team members • Establish accounting/financing provider and track investments • Create website presence and begin generating “buzz” • Review investment risk – go/no go decision for launch • Evaluate “exit strategy” options
  • 10. Launch the Business Launch the Business • Define critical business functions and processes, select service providers for each key function • Refine customer acquisition strategy • Initiate development of strategic alliances • Finalize product / complete QA go no-go • Update financial models • Prepare press releases • Sell, Sell, Sell
  • 11. Grow the Business Grow the Business • Develop the culture • Hire the right talent • Penetrate your market; drive focused marketing and sales campaigns • Implement business planning process – define key metrics for each function and consistently review and monitor • Continue scanning for ideas and opportunities – updates to existing products, new offerings, etc. • Grow, Grow, Grow
  • 12. Top 10 list for building a business * 1. Focus on creating value 2. Build a team 3. Develop a mantra 4. Get in the game 5. Stay lean and scrappy 6. Go for the globe 7. Be nimble, be quick 8. Always be selling 9. Plan for continuous upgrading 10. Focus on people * Garage.com
  • 13. Critical Function and Activities for Business Planning Accounting G/L, A/P, A/R, Fixed Assets Sales Tax State and Federal Tax Filing Time and Expense Finance Currency Hedging/Management Treasury Cash-flow Forecasting and Modeling - Working Capital Banking - Funding, Investing, LOC/Foreign Exchange, etc. HR PEO - Professional Employment Organizations Recruiting Payroll Benefits Retirement Plans Compliance Employment Taxes (FICA, Unemployment, Medicare, etc)
  • 14. Critical Function and Activities for Business Planning Engineering CAD Design Tools Software Development Tools Requirements Management, Agile, Waterfall, etc. Bug Tracking Test Management Configuration Management Technical Writing, Specs, Release Notes, etc. Serial Number Creation/Tracking Product Data Management Product Compliance with National/International Laws Quality Assurance Operations Business Volume Forecasting and Planning Purchasing and Vendor Management Inventory Control Sales Order Management (acknowledging, shipping, etc.) Warranty Repairs and Returns Quality Control Manufacturing Execution, Inventory Tracking Serial Number Creation/Tracking (Serialization, finished goods identification) Continuous Process Improvement Tools Distribution and Logistics (Shipping and Receiving)
  • 15. Critical Function and Activities for Marketing Business Planning Inbound New Product Requirements/Voice of the Customer (Market) MRD/PRD/Specifications Market Sizing and Forecasting/TAM/SAM Launch Readiness/Sales Training/New Product Development Outbound Market Awareness/Marcom/PR Twitter FaceBook LinkedIn Yammer Product Pricing Promotions and Campaigns Events (conferences, webinars, podcasts, etc.) Campaign Management Alliance Management (establishing and administering alliances, partnerships, co-op marketing, channel partnerships, etc.)
  • 16. Critical Function and Activities for Business Planning Sales Prospecting and Qualifying Leads Sales process execution (Requirements discovery, managing contacts, meetings, coordinating channel sales, presentations, demos, proposals, RFP's, contracting and closing etc.) Sales management and operations (sales cycle tracking, reporting, sales analytics, compensation planning/commissions tracking, etc.) Bidding and Quoting (Quote Tracking, quote expiration, price changes, etc.) Pipeline Management (developing new prospects and opportunities, managing number of opportunities, etc) Account Growth and management (strategy for expanding sales in existing accounts, cross-sell, up-sell, etc.) Commissions Tracking Shopping Cart
  • 17. Critical Function and Activities for Business Planning IT Infrastructure Web Server/App Server/DB Server Phone System Voice Mail Email Office Tools Wiki Blogs Conference Calling Webcasts Chat Web Customer Service Data Storage Cell Phone
  • 18. Critical Function and Activities for Business Planning Legal Document Management/Tracking NDA Sales Contracts Purchase Contracts Government Compliance (Product, Employment, etc.) Patents/Copyrights/Trademarks Terms Sheets Buy/Sell Agreements Loan Documents Corporate Structure and Governance Model (LLP, LLC, S-Corp, C-Corp) Capital Structure (Founder shares, equity in lieu of pay, etc.) Insurance Workers Comp Liability Property & Causality Officers Business Interruption
  • 19. Critical Function and Activities for Business Planning Facilities Office Space/Warehouse Space/Manufacturing Space Space planning (guidelines for space per person, expansion plans, contraction plans, etc) Insurance planning (Office Equipment, Umbrella Policy) Operating cost budgeting and forecasting- Gross or Net, (Internet, Water, Electric, etc) Legal planning and review lease Guarantee (legal entity, company financials, letter of credit, personal guarantee)
  • 20. Mapping tools to Processes A Q P M N d S S u D A I W A e i e O m T h p i y p n o v a c t r i r o C e c n c r S l t r a k a s a n i p a e h o A i f a k l b m u c i n p r d t s P c c d a o i i l s e i t t r o o c a r o c t e f t e t n a k s r t y a e t e a g x s f Accounting x x x x x x x x x Finance x x x x x x x x HR x x x x x x x x Engineering x x x x Operations x x x x x Marketing Sales x x x x x x Legal IT Infrastructure Facilities
  • 21. Mapping tools to Processes Q M W S N F L S u T J i o a e a Y i O G u i w o T c r l e t c a n O f o N g c A i b a r d e . S e m k p f o i a k s D t V l o p s c u B m e e i g n r B P t i e s r F o i o e d n c l g C o e t o o e o m t o r I e e R o r e f s r e k n M k t s c Accounting x x x Finance HR x x x x x Engineering Operations x Marketing x x x x x x Sales x x x Legal IT x x x x x Infrastructure Facilities
  • 22. Mapping tools to Processes M T T Q B C k i C a D R S S h e B A u a o C A H s E C o i i a A o o o a u A m i z r S M o u P R / x o n l r t c f f u m g m e c z e u o n t I a M p n s e i c t t g z a r k a M r n t o T B l i r e s t t C c o e w w h T i z i A r e v k a c e M l n e a a h t n p a a t r l o c r V t e e c a s y g s c n i o a t r r w a l n a r o r y y t d t l s t t m r l e e o c a n o i i e p r k w c c Accounting x x Finance HR Engineering x x x x x Operations x x x Marketing x x x x x x x x x Sales Legal x IT Infrastructure Facilities