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Development of a company-Art Director, partner, program director, & editor in chief needed!

Development of a company-Art Director, partner, program director, & editor in chief needed!

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  • Who is the new venture’s customer? Define this tightly. (As an example: University biology labs in predominantly undergrad only schools that do not have the broad and deep lab capabilities of large research institutions.)
  • How does the customer make decisions about buying this product or service? This is a tough, tricky question. If it is “a new idea” product then the real answer is “I don’t know.” And the correct follow-on is “here’s how we will find out,” which is going to involve a lot of testing and hypothesizing. The cost and timing of this is a must for factoring into the Business Plan. To what degree is the product or service a compelling purchase for the customer? Simpler, easier, cheaper, not now available, etc. How will you price this and why? What’s the value logic? How will the venture reach all of the identified customers? Where is the list? Is this a large consumer market or a market that can be easily identified (all NFL head coaches; undergrad biology dept’s in the US, etc.) How will we experiment with contact methods to determine what works? Who is the head of sales? A hint here - if it isn’t the CEO that’s a bad sign. Often entrepreneurs want money to hire sales people and do not understand the iterative process that proceeds from sales info, and miss huge opportunities because they don’t get to know their target market. How much is it going to cost to acquire a customer? What will cause customer attrition?
  • How does the customer make decisions about buying this product or service? This is a tough, tricky question. If it is “a new idea” product then the real answer is “I don’t know.” And the correct follow-on is “here’s how we will find out,” which is going to involve a lot of testing and hypothesizing. The cost and timing of this is a must for factoring into the Business Plan. To what degree is the product or service a compelling purchase for the customer? Simpler, easier, cheaper, not now available, etc. How will you price this and why? What’s the value logic? How will the venture reach all of the identified customers? Where is the list? Is this a large consumer market or a market that can be easily identified (all NFL head coaches; undergrad biology dept’s in the US, etc.) How will we experiment with contact methods to determine what works? Who is the head of sales? A hint here - if it isn’t the CEO that’s a bad sign. Often entrepreneurs want money to hire sales people and do not understand the iterative process that proceeds from sales info, and miss huge opportunities because they don’t get to know their target market. How much is it going to cost to acquire a customer? What will cause customer attrition?
  • This is opportunity analysis at its core. When you ask what the compelling idea is and why customers will want it, by implication you ask the competition question. If the investors can find competition with a Google search that the company does not “know” - that’s a total turnoff.
  • This is opportunity analysis at its core. When you ask what the compelling idea is and why customers will want it, by implication you ask the competition question. If the investors can find competition with a Google search that the company does not “know” - that’s a total turnoff.
  • This is opportunity analysis at its core. When you ask what the compelling idea is and why customers will want it, by implication you ask the competition question. If the investors can find competition with a Google search that the company does not “know” - that’s a total turnoff.
  • Where are the founders from? Previous history? Schools? Who have they worked for? What have they accomplished in the past? What is their reputation? What direct experience do they have here? What skills, abilities, knowledge do they have? Who else needs to be on this team to fill-in the gaps How will they respond to adversity? What are their motivations, to be a king or rich?
  • How to determine and explain when your company will “turn the corner” to cash flow breakeven: What is the expected profit from each customer over what period of time? (What does the product cost, the support cost, etc. ) By implication, how long to breakeven on a customer basis? Then what is the contribution margin from each customer that will contribute to fixed costs, and voila - a detailed assumption of cash flow breakeven with underlying facts -> a very good thing to give potential investors.
  • Most typical exits are IPO, strategic acquisition by a larger firm, or financial acquisition by a fund. Many investors like to have an explanation of why the exit given is realistic. For example, if it is a strategic acquisition, what specific actions will make the company most attractive to an acquirer, aside from market dynamics? Whatever exit method is used, previous slides/information in the presentation should support the reason why that exit is most likely.

Transcript

  • 1.  
  • 2. Inner Compass LLC New Directions for Men Jeffrey M. Nerone CEO & President . A unique media company focused on helping men foster a healthy lifestyle and emotional well being
  • 3. “ Recognizing and preventing men's health problems is not just a man's issue. Because of its impact on wives, mothers, daughters, and sisters, men's health is truly a family issue .” - Congressman Bill Richardson (Congressional Record, H3905-H3906, May 24, 1994)
  • 4. “ It reflects an advertising industry blind to the actual male evolution toward caring fathers, better domestic partners and stay-at-home dads… More men are thinking about what's important in life and defining themselves through relationships, family, what they contribute to their community, rather than their jobs .” - Mark Kaufman (Co-founder of the White Ribbon Campaign, which seeks to end violence against women)
  • 5. The Need when men feel lost
    • Men are taught to ‘be tough’ – that emotions are for sissies
    • Men are often not taught how to develop and maintain healthy relationships
    • Men who slip into adulthood without guidance struggle to figure out the meaning of manhood on their own
    • Men as a group are exhibiting increased signs of ineffective coping, including a rise in depression, suicide, alcohol abuse, divorce, domestic violence and more
    • Men are lacking a single source to go to for help, guidance and support
  • 6. The Goal when men are emotionally healthy
    • … they do not exhibit unhealthy coping mechanisms, such as drinking or violent behavior
    • … they are empowered to report incidences of abuse and harassment, in order to heal
    • … they strive for work/life balance, valuing time with their families and no longer being married to their jobs
    • … they are fully present in their relationships, treating their wives or partners with respect
    • … they embrace new family roles, such as being stay-at-home dads – without fear of stigma
    • … they mentor and support young men, to keep the cycle going
  • 7. The Market times are changing
    • NBC’s Today Show coined the term “The HE Decade” in response to its popular new series Men of a Certain Age
    • Dove hires Mark Kaufman as ‘Gender Consultant’ to aid in developing its new line of men care products; these were launched during the Super Bowl
    • Grassroots efforts arise to help men – fraternal organizations offering weekend retreats, counseling and more:
        • Victories of the Heart – Men Building Relationships
        • Better Men Retreats
        • Promise Keepers
        • ManKind Project
  • 8. The Solution comprehensive services and products for today’s enlightened men Inner Compass – New Directions for Men Mission Statement “ To help men heal emotional wounds and embrace a positive masculine ethic.” Three-fold Approach to Services - Internet radio talk show - Online magazine and website content - Greeting cards for men
  • 9. Internet Radio Talk Show a program that challenges masculine stereotypes and offers healthier alternatives
  • 10. Internet Radio Talk Show a program that challenges masculine stereotypes and offers healthier alternatives
  • 11. Online Magazine / Website Content explores the roles of men as leaders, visionaries, fathers, sons and husbands
  • 12. Online Magazine / Website Content based on a foundation of integrity and accountability; avoids superficiality of other men’s magazines
  • 13. Greeting Cards for Men engineered to help men share their emotional truth
  • 14. Market Opportunity
      • Primary target audience: men and women aged 25-65
      • Specific Markets
      • LOHAS (Lifestyles of Health and Sustainability) consumers*:
        • Focus includes health, social justice and personal development
        • Approximately 41 million U.S. adults
        • Estimated market share of $209 billion
        • Utmost focus is the goal of achieving full human potential
      • Men’s and Women’s Support Groups
      • Christian Men’s Organizations
      • Fraternal Organizations
        • Victories of the Heart – Men Building Relationships
        • Better Men Retreats
        • ManKind Project
      • *The Natural Marketing Institute
  • 15. Sales Model
    • InnerMan Radio
      • Voice America & World Talk Radio
        • Monthly online listener-ship of 2 million
        • Interested in producing weekly IMR program
        • Can cross market IMR to multiple networks
        • Broadcasts can also be available directly from Inner Compass website
    • InnerMan Magazine
      • Content on Inner Compass website
      • Advertise magazine content through social networking, hospitals, clinics and men’s organizations
      • Recruit local writers to contribute content
    • Inner Compass Cards
      • Distribute to local gift shops, coffee shops and specialty stores
        • Leap of Faith gift shop (Cedarburg, WI) is interested in featuring Inner Compass cards
      • Attend greeting card conferences and conventions
      • Establish online ordering from Inner Compass website
    • All three services / product lines will be cross-marketed
  • 16. Advertising Model
    • InnerMan Radio and InnerMan Magazine
      • 4-tier online advertising package offering different sized banner ads for sponsors
      • Each level includes a 30-second audio commercial spot on the radio show
      • Inner Compass would partner with VoiceAmerica on production of audio ads
      • For InnerMan Radio – distributing CDs with sampling of shows
    • Inner Compass Cards
      • Partnership with a greeting card distributor
      • Sales staff calling and visiting specialty shops
      • Direct mail to target stores with samples
      • Ads placed in Greetings, Etc. – a greeting card industry magazine
      • Attendance at greeting card conventions and conferences
    • Sales cycle
  • 17. Inner Compass vs. The Competition
    • The Competition
      • Men’s magazines have a strong focus on fashion, sports, the automotive industry, grooming, business etiquette and dating / sexual conquests
      • Most greeting card companies gear their products toward women; they do not engineer a positive masculine product line marketed to men
      • Competition may claim that men have not market-tested well for greeting card purchases; however, this is based on existing, female-focused card lines
      • Men’s services do not generally try to appeal to women at all; they ignore the fact that women want these services, too
      • Competitors have admitted that they believe men want things kept superficial and easy to read – that they do not want the deeper stuff addressed
  • 18. Inner Compass vs. The Competition
    • Inner Compass
      • Offers radio show, where listeners can call in and discuss important topics
      • Offers an online magazine with quality content directed at helping men lead emotionally healthy lives
      • Offers a line of greeting cards that allows men to convey sincere, honest masculine reflections which allow men to express themselves to important people in their lives in a unique, positively masculine way
      • Content appeals to women, too - women’s participation is fully invited and encouraged
      • Nearest Competitors
      • GetReal – Men’s Media Network (radio show); Be Better Men, ManKind Project and Men’s Health (online content/websites); Hallmark and American Greetings (greeting cards)
  • 19. Inner Compass testimonials – quotes from general public
    • “ This show is long overdue! I think this is a wonderful thing that you are doing! The very issue you are talking about prevents them from making that first phone call but don’t give up, keep up the great work!” – IMR Caller
    • “ Thank you for doing this because it’s good for everyone!” – IMR Caller
    • “ I think that it’s great that there are guys like you trying to teach little boys that there’s more to life then having your Ford truck.” – IMR Caller
    • “ Men need to have the resources to discover their inner strength, as well as having positive role models for becoming their true selves....The stereotypical male that is ingrained in those psyches definitely needs a makeover.” – Pam S. of Phx, AZ.
    • “ Information Technology serial entrepreneur Jan Eddy gave Nerone high scores, (2008 Elevator Pitch Olympics-Madison, WI) calling the idea ‘novel.’ It’s a space that’s really crying out for attention.” (Wisconsin State Journal, 2008).
  • 20. Proposed Management Team
    • Jeff Nerone, CEO & President
      • 27 years experience supervising, managing, project management; several years in product development; degrees in Business Communication and Psychology (double major, to be completed in 2011)
    • Jennifer Brindley, Creative Manager/Photographer
      • Owner of JBE Photography in Milwaukee
    • Wes McCoy, Graphic Designer
      • Owner of WesleyMedia
    • Still Open Positions:
      • Sales Representative
      • Program Director
      • Sound Engineer
      • Radio Host
      • Administrative Assistant
  • 21. Advisors and Other Professional Resources
      • John Austin, Attorney – Reinhart, Boerner & Van Deuren
      • Cindy Komro – Certified Public Accountant, Tax Attorney
      • Marvin Weiss – local retired business owner and mentor
      • Kevin Myszewski, M.A. – communications professional, publicist and mentor
  • 22. Milestones accomplished
    • Wes McCoy joins core team and begins design of greeting cards, Inner Compass advertising tiers/packages, and company branding (2010)
    • Brian Anderson – B.A. in Psychology and Religious Studies; further studies in masculine identity; Marquette University’s Coordinator of Alcohol Programs and Hall Minister in O’Donnell Hall – joins as co-host to InnerMan Radio (2009)
    • VoiceAmerica and WSRadio of San Diego, CA both express interest in adding InnerMan Radio to their talk radio networks (2009)
    • Completed Inner Compass survey results (2009):
      • 93.3% would welcome a company designed to guide men towards emotional health, believing this is an underserved need
      • 60% interested in services/products to help men manage anger issues
      • 73.3% interested in services/products to help men focus on marriage and relationships
      • 66.7% interested in greeting cards designed for men
      • 66.7% interested in talk radio and online magazine geared toward helping men maintain an overall healthy lifestyle .
  • 23. Financing
    • Funding Sought for Start Up Phase: $340,000
        • Establish office space and utilities, hire core team, acquire office furniture
        • Website improvements and development of greeting card line
        • Advertising and marketing
        • Insurance, fees & deposits
    • Annual Operating Expenses: $514,017
      • Salaries, facility maintenance, insurance and shipping costs
      • Preproduction of talk radio programs
      • Acquisition and editing of online magazine content
      • Greeting card production and distribution
      • Advertising and marketing, including greeting card conference attendance
  • 24. Cash Flow Projections
  • 25. Exit Strategy Our exit strategy is to grow at 30% each year, and to take Inner compass public in 5 years
  • 26. Inner Compass A New Direction to a Meaningful Journey Jeffrey Nerone, CEO & President [email_address] 414-588-8932 www.innercompass.net