Cambridge UniversityTransferable Skill Workshop     Commercialising R&D
Welcome & Content    Recap of the first session    Where are we trying to get to?    Asking the right questions    Bus...
Recap                       Push – Pull                       What - WHY Technology Push Market Pull Understanding the ...
Where are we trying to get to?  To develop an appreciation of the   fundamentals of planning and      communicating a busi...
Building a believable story  Communicating the story      Cambridge University Transferable Skills
Introducing the  Business Model Canvas Developed as by Alex Osterwalderwww.businessmodelgeneration.com
Business Model Canvas   Cambridge University Transferable Skills
Intro VideoCambridge University Transferable Skills
Cambridge University Transferable Skills
Cambridge University Transferable Skills
Guesstimates / Assumptions    Users/Customers                                                                 Resources ...
Guesstimates / Assumptions    Revenue Streams                                                                       How ...
The WorkshopDevelop a canvas.....
Get ready to pivot    Key insights come from talking to people    15 minutes with a customer beats 10 hours    hypothesi...
The ways the canvas gets used...      Different levels of mastery
Levels of Mastery    Level 0 Strategy – The Oblivious: Focus on products/value    propositions alone rather than the valu...
The Investment DeckGetting the message across in an         engaging way
Hockey Sticks!Cambridge University Transferable Skills
Why, How, What    Engagement is best gained when the WHY is    explained first........ if you nail the WHY, the    How an...
What the Investors say they want to see in an investment deck
The Investment Deck    The Perfect Pitch using x7 slides:Bindi Karia, VC Emerging Business lead for                 Micros...
The Investment Deck1) Your Value Proposition2) The Problem3) Your Solution4) The Marketplace5) Your Team6) Business Execut...
The Investment Deck The Perfect Pitch using X10 slides:Guy Kawasaki, former chief evangelist              Apple Inc
The Investment Deck1) Problem2) Your Solution3) Business Model4) Underlying magic technology5) Marketing and Sales6) Compe...
The Investment Deck The Perfect Pitch using X13 Slides:Mark Suster, Entreprenuer turned VC
The Investment Deck1) Team Bio2) 100 Meter view of your company3) Problem definition4) How do you solve the problem: Demo?...
The Investment Deck Top ten lies of Entreprenuers
The Investment Deck                         Top ten lies of Entreprenuers1) “Our projections are conservative.”2) “Jupiter...
The Investment Deck  Top ten lies of Investors
The Investment Deck                            Top ten lies of Investors1) “I liked your company, but my partners didnt.”2...
The Investment Deck                Question:Do you know the difference between the lies of entrepreneurs and the lies of i...
The Investment Desk          Answer:  The Investors have money
Marketing your Business#1 – know who you are marketing to
Marketing Your Business    Creating a burning platform:Three essential elements    Why buy anything?    Avoid building a...
The Innovation Agency......taking Research to Market
Individual follow ups    Contact us if you would like toinvestigate how to take your research              to market
Thank youTalk to us about commercialising your               research    henry.gomersall@theinnovationagency.org       Ian...
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The Innovation Agency transferable skills workshop 2

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Slides from part 2 of the transferable skills workshop held by The Innovation Agency at the University of Cambridge

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The Innovation Agency transferable skills workshop 2

  1. 1. Cambridge UniversityTransferable Skill Workshop Commercialising R&D
  2. 2. Welcome & Content Recap of the first session Where are we trying to get to? Asking the right questions Business modelling – introducing the business model canvas  An example business model  The Workshop The Investment deck Marketing your business The Innovation Agency Cambridge University Transferable Skills
  3. 3. Recap Push – Pull What - WHY Technology Push Market Pull Understanding the WHY of what you are doing Have you tested your pitch? Cambridge University Transferable Skills
  4. 4. Where are we trying to get to? To develop an appreciation of the fundamentals of planning and communicating a business
  5. 5. Building a believable story Communicating the story Cambridge University Transferable Skills
  6. 6. Introducing the Business Model Canvas Developed as by Alex Osterwalderwww.businessmodelgeneration.com
  7. 7. Business Model Canvas Cambridge University Transferable Skills
  8. 8. Intro VideoCambridge University Transferable Skills
  9. 9. Cambridge University Transferable Skills
  10. 10. Cambridge University Transferable Skills
  11. 11. Guesstimates / Assumptions Users/Customers  Resources  Number of monthly  Number of employees: 2k active FB users: 500M (source: FB factsheet) (source: FB factsheet)  Number of servers: ???  Number of daily active  Costs FB users: 250M (source:  Average salary FB factsheet) (guesstimate): 150k  Average time users (source: glassdoor.com spend on FB per FB salaries) month: 1′400 minutes  HR costs: 300M -> 46 min/day (deduction) (guesstimate source:  IT costs (guess):???? FB factsheet) Cambridge University Transferable Skills
  12. 12. Guesstimates / Assumptions Revenue Streams  How could its advertising  Advertising – Average revenues (e.g. banners and CPM: $0.625 (source: text advertising breakdown) Blogpost) really be?  Annual page views: 3.12  What budgets are Fortune Trillion (source: Blogpost) 500 companies putting into  Facebook Credits: 30% Facebook advertising? revenue cut (source:  How many SMEs and micro- TechCrunch) enterprises are using OPEN QUESTIONS Facebook for advertising? How high could Facebook’s  How much could Facebook costs for its IT infrastructure already be earning from (capital expenditure and Facebook Credits, even if operating costs be? this virtual currency is still in BETA? Cambridge University Transferable Skills
  13. 13. The WorkshopDevelop a canvas.....
  14. 14. Get ready to pivot Key insights come from talking to people 15 minutes with a customer beats 10 hours hypothesising Be flexible and willing to be wrong Encourage criticism and use the feedback Be aware of the limits of theoretical models Talk to people – all the time Be Humble Cambridge University Transferable Skills
  15. 15. The ways the canvas gets used... Different levels of mastery
  16. 16. Levels of Mastery Level 0 Strategy – The Oblivious: Focus on products/value propositions alone rather than the value proposition AND the business model. Level 1 Strategy – The Beginners: Use the Business Model Canvas as a checklist. Level 2 Strategy – The Masters: Outcompete others with a superior business model where every one of the business model building blocks reinforce each other (e.g. Nintendo Wii, Nespresso, Dell). Level 3 Strategy – The Invincible: Continuously disrupt themselves while their business models are still successful (e.g. Apple, Amazon.com). Cambridge University Transferable Skills
  17. 17. The Investment DeckGetting the message across in an engaging way
  18. 18. Hockey Sticks!Cambridge University Transferable Skills
  19. 19. Why, How, What Engagement is best gained when the WHY is explained first........ if you nail the WHY, the How and What is straightforward Investors are no different  Why – what is the motivation, societal need, benefit that your business brings  How are you going to deliver the Why?  What, in detail, are you going to do? Cambridge University Transferable Skills
  20. 20. What the Investors say they want to see in an investment deck
  21. 21. The Investment Deck The Perfect Pitch using x7 slides:Bindi Karia, VC Emerging Business lead for Microsoft
  22. 22. The Investment Deck1) Your Value Proposition2) The Problem3) Your Solution4) The Marketplace5) Your Team6) Business Execution7) Business Model Cambridge University Transferable Skills
  23. 23. The Investment Deck The Perfect Pitch using X10 slides:Guy Kawasaki, former chief evangelist Apple Inc
  24. 24. The Investment Deck1) Problem2) Your Solution3) Business Model4) Underlying magic technology5) Marketing and Sales6) Competition7) Team8) Projections and milestones9) Status and timeline10)Summary and call to action Cambridge University Transferable Skills
  25. 25. The Investment Deck The Perfect Pitch using X13 Slides:Mark Suster, Entreprenuer turned VC
  26. 26. The Investment Deck1) Team Bio2) 100 Meter view of your company3) Problem definition4) How do you solve the problem: Demo?5) Market Sizing6) Warning: Market sizing pitfalls7) Competition8) Customer Adoption – Traction9) Team10) Financial Projections11) Use of Proceeds12) Fundraising process – next steps13) Appenix Slides: Back up slides Cambridge University Transferable Skills
  27. 27. The Investment Deck Top ten lies of Entreprenuers
  28. 28. The Investment Deck Top ten lies of Entreprenuers1) “Our projections are conservative.”2) “Jupiter says our market will be 50 billion in ten years.”3) “Several Fortune 500 companies are set to do business with us.”4) “No one else can do what we are doing.”5) “Hurry up because other investors are about to do a deal.”6) “The large companies in our market are too slow and too dumb to compete.”7) “Our management team is proven.”8) “We filed patents so our intellectual property is protected.”9) “Our product will go viral.”10)“All we have to do is get 1% of the market.” Cambridge University Transferable Skills
  29. 29. The Investment Deck Top ten lies of Investors
  30. 30. The Investment Deck Top ten lies of Investors1) “I liked your company, but my partners didnt.”2) “We are patient investors who want to help you build a great company.”3) “If you get a lead, well invest too.”4) “There are no companies in our portfolio that conflict with what youre doing.”5) “Show us some traction, and well invest.”6) “We love to co-invest with other firms.”7) “Were investing in your team.”8) “We have lots of bandwidth to dedicate to your company.”9) “This is a plain, vanilla termsheet.”10)“We will get other companies in our portfolio to work with you.” Cambridge University Transferable Skills
  31. 31. The Investment Deck Question:Do you know the difference between the lies of entrepreneurs and the lies of investors ?
  32. 32. The Investment Desk Answer: The Investors have money
  33. 33. Marketing your Business#1 – know who you are marketing to
  34. 34. Marketing Your Business Creating a burning platform:Three essential elements Why buy anything? Avoid building a feature not a company (FNAC) Why buy Mine? Understand what your customer pain point solves and why your business is more cost effective than others Why buy now? This question kills most sales cycles including raising venture capital Cambridge University Transferable Skills
  35. 35. The Innovation Agency......taking Research to Market
  36. 36. Individual follow ups Contact us if you would like toinvestigate how to take your research to market
  37. 37. Thank youTalk to us about commercialising your research henry.gomersall@theinnovationagency.org Ian.sharp@theinnovationagency.org

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