Business Plan Ie Venture Lab Session

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Slides deck for the Do´s & Dont´s Business Plan sessions, at Instituto de Empresa Venture Lab program.

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Business Plan Ie Venture Lab Session

  1. 1. Do´s & Don´tsBusiness Plan
  2. 2. About me
  3. 3. Civilengineer
  4. 4. Supermanager
  5. 5. Real lifeentrepreneur
  6. 6. erasmus services
  7. 7. university job fairs
  8. 8. EntrepreneurshipAbility to respond inreal time tounpredictable realities What Will Sahlman says...
  9. 9. Getting started
  10. 10. 7 early signs of failure Part time commitment Solo founder or 4+ founders No technical co-founder Wrong team composition Don´t pivot or pivot too often Don´t listen to customers Scale without validating the market
  11. 11. If you were investor...
  12. 12. Where would you focus?What is the problem & painkiller? Make it obvious Who has it? Why is your solution: Making customers Happy Does it better, different
  13. 13. Where would you focus? What is the problem & painkiller? What is the product-solution? Show something tangible DEMO or PROTOTYPE
  14. 14. Where would you focus? What is the problem & painkiller? What is the product-solution? What is the opportunity now? Who are the customers? Why would they buy to you?
  15. 15. Where would you focus? What is the problem & painkiller? What is the product-solution? What is the opportunity now? How big is the market? Is this worth my time?
  16. 16. Market size Bigger is better Someone else reported it (Forrester, Gartner, mom) You have some great calculations based on: Usage metrics & revenue per user Show astonishing growing TRENDS
  17. 17. Some don´tsDon´t use top-down model 1000 mill internet users 1 % potential audience 10 €/year per account 100 mill € market sizeDo use bottom up if needed
  18. 18. Where would you focus?What is the problem & painkiller?What is the product-solution?What is the opportunity now?How big is the market?Who is the competition? Why are you better?
  19. 19. VCs like unfairadvantagesBig market leadExperienced teamSuperior technology
  20. 20. Some don´tsTell them you have NO competitionForget about a relevant competitorBe unclear about your advantage
  21. 21. Where would you focus?What is the problem & painkiller?What is the product-solution?What is the opportunity now?How big is the market?Who is the competition?Who is the team?
  22. 22. People that getVCs HOT:Techie geeksEntrepreneurs with exitsSales guys with customers
  23. 23. Start-up success factor http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2459
  24. 24. Where do I start?
  25. 25. Elevator Pitch Slides Simplicity Pitch Exec. SummaryBusinessPlan nº times delivered
  26. 26. 1. Market study market segmentation - customers - competitors - market size...2. Strategic plan business model, pricing, sales, marketing, operations, RRHH...
  27. 27. never go to war without a map
  28. 28. 3. Financial plan numbers, sales forecasts, cash flow forecasts...
  29. 29. not about the It is business plan It is about thebusiness model
  30. 30. “If you can´t describeyour business model in 10 words or less, you don´t have a business model” Guy Kawasaki
  31. 31. How do we describe businessmodels today?
  32. 32. ®ARVETICA
  33. 33. ®ARVETICA
  34. 34. Lean start-ups
  35. 35. Iterate & pivothttp://ecorner.stanford.edu/authorMaterialInfo.html?mid=2289
  36. 36. Actions before & after Product Market Fit Rishi Dean (rishi@rishidean.com / www.rishidean.com)
  37. 37. Key product-market fit question“How would you feel if you couldno longer use the Product?”
  38. 38. Invest heavily in marketingonce PMF has been achieved
  39. 39. Internet Bubble1999
  40. 40. Minimum viable product http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2295
  41. 41. What´s thevalue of a BP?
  42. 42. BP helps you to:Disciplined thinking about your ideaMake assumptions - Test themDetect and mitigate risksShare ideas with others
  43. 43. Getting to plan Bhttp://ecorner.stanford.edu/authorMaterialInfo.html?mid=2417
  44. 44. Final tips
  45. 45. Writing tipsClarityConciseOrganizationLayout: Graphs - Images - White spaceNatural style: Write the way you speakPositive
  46. 46. Content tipsProvide all the relevant factsInterpret facts for the readerConclussions supported by factsVisual thinking & presentation
  47. 47. Do expect to update your Business plan a lot!!!!
  48. 48. Be a VCfor 1 day
  49. 49. What is an elevator pitch? http://www.youtube.com/watch?v=Tq0tan49rmc
  50. 50. http://www.youtube.com/watch?v=R2bLNkCqpuY
  51. 51. Steve Jobs presents the ipadhttp://www.youtube.com/watch_popup?v=OBhYxj2SvRI&vq=medium#t=73
  52. 52. How´d he do?
  53. 53. Hungry house pitchhttp://www.youtube.com/watch?v=kzcQtXA5Gc8&feature=related
  54. 54. Pitching time
  55. 55. Exercise
  56. 56. Prepare Twitpitches (should be oriented to investors, not customers – not a logo but hint as to a compelling opportunity; give a sense as to why it’s the painkiller) Google: "access to the worlds information in one click“ lefora.com: “Forums made easy—its like blogger for forums. SigoJoven: “Facebook for people over 40 years old.” Nuroa: “Google for apartments” or “a property search engine that . . . .” Imaste: “Virtual events that deliver real results” Product-Market Fit Why is your product a painkiller? How large is the market in euros and in number of people? Why do you have the right team to execute well?! What milestones have you hit?

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