Enterprise Acceleration Centre    Post Graduation Enterprise Skills Training
Goal of Today’s Session Who am I What Next What Can I tell you Business Tools
Graham Royce <ul><li>Manager of the LEAP programme </li></ul><ul><li>LEAP </li></ul><ul><ul><li>Limerick Enterprise Accele...
One Hour <ul><li>What Next  </li></ul><ul><li>Commercialization </li></ul><ul><li>Business Funding </li></ul><ul><li>Inves...
What Next <ul><li>Your Views </li></ul><ul><ul><li>Post Graduation & Business  </li></ul></ul><ul><ul><li>What would you l...
Commercialization <ul><li>Commercialization  cycle of introducing a new product into the market </li></ul><ul><li>The actu...
Business Funding <ul><li>A source of supply of money </li></ul><ul><ul><li>Stock </li></ul></ul><ul><ul><li>Money from inv...
Investors <ul><li>Will look at the business opportunity: </li></ul><ul><ul><li>Solves an important problem </li></ul></ul>...
Business Plans <ul><li>Definition:  </li></ul><ul><li>A  business plan  is a document that summarizes the operational and ...
The Compelling Business Plan <ul><ul><li>Introduce the Management Team  </li></ul></ul><ul><ul><ul><li>Past successes/Pedi...
The Compelling Business Plan  <ul><ul><li>Cover only 3 to 5 Key Points (example below) </li></ul></ul><ul><ul><ul><li>Pain...
The Compelling Business Plan <ul><ul><li>Claims about the size of the market or the capabilities of a product/solution mus...
The Compelling Business Plan <ul><ul><li>Focus on what matters to your audience  </li></ul></ul><ul><ul><li>Address every ...
The Compelling Business Plan <ul><ul><li>After all is said and done, if the audience is convinced that  </li></ul></ul><ul...
Sample Business Descriptions Not good:  We have developed a  proprietary algorithm  that models  moving objects as traject...
Communication / Information <ul><li>Texting  </li></ul><ul><ul><ul><li>quickest way of getting hold of me  0866089112 </li...
<ul><li>Limerick Enterprise Acceleration Centre </li></ul><ul><li>LEAP Programme 2009 </li></ul><ul><li>Enterprise Skills ...
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Enterprise Skills

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these slides are directed at making business relevant to post graduates starting on that lonely road

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  • Enterprise Skills

    1. 1. Enterprise Acceleration Centre Post Graduation Enterprise Skills Training
    2. 2. Goal of Today’s Session Who am I What Next What Can I tell you Business Tools
    3. 3. Graham Royce <ul><li>Manager of the LEAP programme </li></ul><ul><li>LEAP </li></ul><ul><ul><li>Limerick Enterprise Acceleration Platform </li></ul></ul><ul><li>Remit </li></ul><ul><ul><li>To help new businesses establish themselves </li></ul></ul><ul><ul><li>Complete an Investor Ready Business Plan </li></ul></ul><ul><li>Google me </li></ul>
    4. 4. One Hour <ul><li>What Next </li></ul><ul><li>Commercialization </li></ul><ul><li>Business Funding </li></ul><ul><li>Investors </li></ul><ul><li>Business Plan </li></ul><ul><ul><ul><li>Five main points </li></ul></ul></ul><ul><li>Description of Core Business </li></ul><ul><li>Communications </li></ul>
    5. 5. What Next <ul><li>Your Views </li></ul><ul><ul><li>Post Graduation & Business </li></ul></ul><ul><ul><li>What would you like to know? </li></ul></ul><ul><ul><li>Future sessions </li></ul></ul><ul><li>Your Business Plan </li></ul><ul><ul><li>Open forum on Content </li></ul></ul><ul><ul><li>Is it Relevant </li></ul></ul><ul><li>Commercialization </li></ul><ul><ul><li>What is it </li></ul></ul>
    6. 6. Commercialization <ul><li>Commercialization cycle of introducing a new product into the market </li></ul><ul><li>The actual launch of a new product is the final stage of new product development </li></ul><ul><li>Commercialization is where most money be spent advertising, sales, marketing </li></ul><ul><li>Its an expensive time. </li></ul>
    7. 7. Business Funding <ul><li>A source of supply of money </li></ul><ul><ul><li>Stock </li></ul></ul><ul><ul><li>Money from investors </li></ul></ul><ul><ul><li>A sum of money or other resources set aside for a specific purpose </li></ul></ul><ul><ul><li>Overdraft bank loans </li></ul></ul><ul><ul><li>Pension fund </li></ul></ul><ul><ul><li>Funds Available such as </li></ul></ul><ul><ul><ul><li>ready cash </li></ul></ul></ul><ul><ul><ul><li>daily takings </li></ul></ul></ul><ul><li>Wages – Repayments – future growth </li></ul>
    8. 8. Investors <ul><li>Will look at the business opportunity: </li></ul><ul><ul><li>Solves an important problem </li></ul></ul><ul><ul><li>Has momentum </li></ul></ul><ul><ul><ul><li>Patents/Prototypes </li></ul></ul></ul><ul><ul><ul><li>Beta customers </li></ul></ul></ul><ul><ul><ul><li>Management team </li></ul></ul></ul><ul><ul><li>Has the basic ingredients for success </li></ul></ul><ul><ul><ul><li>Huge addressable market </li></ul></ul></ul><ul><ul><ul><li>(market research) </li></ul></ul></ul><ul><ul><ul><li>Revenue streams & projections </li></ul></ul></ul><ul><ul><ul><li>Barriers to entry/competitive advantage </li></ul></ul></ul>
    9. 9. Business Plans <ul><li>Definition: </li></ul><ul><li>A business plan is a document that summarizes the operational and financial objectives of a business </li></ul><ul><li>Contains the detailed plans and budgets showing how the objectives are to be realized + commercialized </li></ul><ul><li>A business plan contains detailed financial projections, forecasts about your business's performance </li></ul><ul><ul><ul><li>sales plan - a plan describing, quantifying and phased over time, how the sales will be made and to whom. Some organizations interpret this to be the same as a business plan or a marketing plan </li></ul></ul></ul><ul><ul><ul><li>marketing plan - logically a plan which details what a business will sell, to whom, when and how, implicitly including the business/marketing strategy </li></ul></ul></ul><ul><li>For anyone starting a business, it's a vital first step. </li></ul>
    10. 10. The Compelling Business Plan <ul><ul><li>Introduce the Management Team </li></ul></ul><ul><ul><ul><li>Past successes/Pedigree (education, past start-ups) </li></ul></ul></ul><ul><ul><ul><li>Domain Expertise/Unique capabilities </li></ul></ul></ul><ul><ul><ul><li>Profit and Loss Responsibility </li></ul></ul></ul><ul><ul><ul><li>Connections (technology advisor to the President </li></ul></ul></ul><ul><ul><li>Reputable Board Members and Advisors </li></ul></ul><ul><ul><li>(who are betting on the company) </li></ul></ul><ul><li>Good First Impression </li></ul>
    11. 11. The Compelling Business Plan <ul><ul><li>Cover only 3 to 5 Key Points (example below) </li></ul></ul><ul><ul><ul><li>Pain and Solution (e.g. unmet need and related product/service offering) </li></ul></ul></ul><ul><ul><ul><li>Opportunities & Threats (e.g. market size, competition) </li></ul></ul></ul><ul><ul><ul><li>Marketing Plan -- sales and distribution strategy </li></ul></ul></ul><ul><ul><ul><li>The Team – Senior Mgt., technical and support staff </li></ul></ul></ul><ul><ul><ul><li>Financial Highlights and Potential Returns </li></ul></ul></ul>2. Clarity and Simplicity of Presentation
    12. 12. The Compelling Business Plan <ul><ul><li>Claims about the size of the market or the capabilities of a product/solution must be supported with research from reputable third-parties or research institutions; relying purely on in-house research tends to weaken credibility and cast doubts on the true business potential </li></ul></ul><ul><ul><li>Projecting a growth in revenues or in market share without considering the competition is an incomplete analysis </li></ul></ul>4. Facts are Credible, Complete and Consistent with Analysis
    13. 13. The Compelling Business Plan <ul><ul><li>Focus on what matters to your audience </li></ul></ul><ul><ul><li>Address every key aspect about the business, described in section 2, objectively, being careful to consider the weaknesses and limitations of the business, as well as any potential threats </li></ul></ul><ul><ul><ul><li>Example: though proof of concept has been established, product has to undergo beta testing before it is launched for wide-scale commercial production </li></ul></ul></ul>3. Focused and Objective
    14. 14. The Compelling Business Plan <ul><ul><li>After all is said and done, if the audience is convinced that </li></ul></ul><ul><ul><ul><li>the need is overwhelming </li></ul></ul></ul><ul><ul><ul><li>the solution is unique </li></ul></ul></ul><ul><ul><ul><li>the opportunity to scale is undeniable </li></ul></ul></ul><ul><ul><ul><li>the financial returns are highly attractive, and </li></ul></ul></ul><ul><ul><ul><li>Management is deemed capable of bringing the business to its desired levels </li></ul></ul></ul><ul><ul><li>Then the business plan may be deemed successful </li></ul></ul>5. Compelling Business Proposition
    15. 15. Sample Business Descriptions Not good: We have developed a proprietary algorithm that models moving objects as trajectories and uses a dynamic variable to manage uncertainty. Our technology allows companies to optimize their mobile assets in real-time and develop a whole new class of location-based services. Better: We offer software that improves a company’s ability to manage its mobile resources like trucks, equipment and personnel . Our solution is capable of sensing and reporting material deviations from routing plan or delivery schedules, as they happen , allowing quick corrective action where others can’t. Description of core business
    16. 16. Communication / Information <ul><li>Texting </li></ul><ul><ul><ul><li>quickest way of getting hold of me 0866089112 </li></ul></ul></ul><ul><li>Electronic </li></ul><ul><ul><ul><li>[email_address] - twitter – Facebook - Skype </li></ul></ul></ul><ul><li>Web Site </li></ul><ul><ul><ul><li>http://www.eac.ie </li></ul></ul></ul><ul><ul><ul><li>http://www.leap.ie </li></ul></ul></ul><ul><li>Business Blog </li></ul><ul><ul><ul><li>http://graham-royce.blogspot.com </li></ul></ul></ul><ul><li>Business Network </li></ul><ul><ul><ul><li>http://www.linkedin.com </li></ul></ul></ul>
    17. 17. <ul><li>Limerick Enterprise Acceleration Centre </li></ul><ul><li>LEAP Programme 2009 </li></ul><ul><li>Enterprise Skills </li></ul><ul><li>Thank you </li></ul>

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