Augusto Coppola Business Plan-innovation-lab

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Augusto Coppola Business Plan-innovation-lab

  1. 1. Elementi di un Business Plan Teoria e pratica per Innovation Lab 2010 Augusto Coppola co-founder & CEO ERIS4 I contenuti di questa presentazione sono liberamente riproducibili laddove si citi la fonte (Augusto Coppola, se non diversamente indicato) e non ci siano fini di lucro
  2. 2. Agenda • Qualche utile avvertenza, ovvero Nulla di nobile può essere fatto senza rischio (Montaigne) • Business Plan Foundations, ovvero Plan is nothing. Planning is everything (D. Eisenhower) • Innovation Lab Gran Finale, ovvero Ascolto e dimentico. Guardo e ricordo. Faccio ed imparo (proverbio cinese) • Qualche risorsa web, ovvero L’inizio è la metà di tutto (Platone) • Q&A Ci sono persone che non riconoscerebbero una opportunità neanche se questa si alzasse in piedi e li prendesse a schiaffi (Anonimo)
  3. 3. 1. Qualche utile avvertenza Tao k’o tao, fei ch’ang tao (La via che è la Via, non è la vera via) (Lao Tsu)
  4. 4. I took a course in speed reading and was able to read War and Peace in 20 minutes. It's about Russia (W. Allen) Da figli si capisce poco. Da genitori si cerca di insegnare quello che non si capiva da figli (G. Trapattoni) We don’t like their sound. Groups of guitars are on the way out (Decca Records rejecting the Beatles, 1962)
  5. 5. 2. Business Plan Foundations Nothing will ever be attempted if all possible objections must be first overcome (S. Johnson)
  6. 6. Vision & Mission Three short tales: A lazy lawyer, a wealthy saddler and the Mr Wang’s myopia Two key questions about your business: - Why? Vision Market/society trends - What? Mission Market Need Vision Market Company Value Mission Value Proposition Product Technical Marketing Strategy
  7. 7. Questions about Founders and Management Team • Where are the founders from? • What have they accomplished in the past? • What is their reputation? • Whom do they know? • Who else needs to be on the team? • Are they prepared to recruit high-quality people? • How realistic are they about the venture chances? • How will they respond to adversity? • Do they have the mettle to make the inevitable hard choices that have to be made? • How committed are they to this venture? • What are their motivations? You need to work from day 1 on a strategy to make your team stronger!
  8. 8. Founders and Management Team Team roles should be clearly and explicitly agreed - Team dynamics should be known - Investors and customers are critical factors - What happen if ...? should be deeply discussed Advisor/influencer motivations and reputation should be ruthless scrutinized by the founders There can be no friendship without confidence, and no confidence without integrity (S. Johnson)
  9. 9. Customers I often went fishing up in Maine in the summer. Now, I am very fond of strawberries and cream, but I have found that, for some strange reason, fishes prefer worms (D. Carnegie) Market structure has to be carefully considered • Average expenditure for customer type and location • How such an expenditure is structured • Market share, revenue and profit of largest players • Average profit in the market • Average company size in the market • M&A dynamics
  10. 10. Marketing Law of Leadership It’s better to be first than it is to be better Law of Category If you can’t be first in a category, set up a new category you can be first in Law of Attributes For every attribute, there is an opposite, effective attribute Law of the Mind It’s better to be first in the mind than to be first in the marketplace (Ries, Trout - The 22 Immutable Laws of Marketing)
  11. 11. Investors What’s easier to understand? Please bring your vehicle to a speed not exceeding zero miles per hour at this coordinate in space and time as STOP there is other vehicular traffic moving in a direction perpendicular to your own and may intersect with your vehicle’s current trajectory Keep it simple: - VCs are overwhelmed by business plans - You need to catch their attention in a very short time - Don’t assume they understand your technology - Don’t assume they know your business domain
  12. 12. Investors Investors (VCs, in particular) might have preferences - Geographic preferences - Sector preferences - Stage preferences - Investment size preferences - Exit preferences Do not waste your time with wrong investors Investors needs to rapidly know the exit strategy Show them the money. QUICKLY! Make them dreaming!
  13. 13. Stupidest (and quite classical) things you can write • We are addressing a huge market of €100M • We are targeting revenue for €5M within 5 years • The market size is €10B. We have an unparalleled technology and an incredible business proposition. With a very conservative forecast we can target a 5% market share, then we will get €500M • We have no competition • We need €250k to breakeven in 18 months
  14. 14. A few questions to be answered for Innovation Lab • Are we addressing a growing market? Can we prove it? • Are we addressing a real market need? Do we really know where our target clients are and how they behave? • Do we understand how to develop our idea? What about the technology? Marketing? • Are we able to jot down a credible 6/12 months budget? • Can our business idea generate enough revenue to attract professional investors? Or do we need an industrial partner? • Is our presentation short, clear and focused?
  15. 15. Innovation Lab Gran Finale Cominciate col fare ciò che è necessario, poi ciò che potete. E all'improvviso vi sorprenderete a fare l'impossibile (San Francesco)
  16. 16. Due domande chiave ed un ovvio consiglio Cosa vendono? Come fanno i soldi? Vendete i vostri punti di forza
  17. 17. Packaging Completo • Business Idea Executive Summary (1 pagina, 500 parole) • Elevator pitch (60 secondi, 150 parole) • Presentazione di 7 minuti • PowerPoint slides e/o • Video e/o • Demo • Logo, tag line, foto e 1 (una) riga di gentle remind Attenzione! - Executive Summary in inglese e formato PDF - Presentazione effettuata in italiano, ma con slides in inglese - Elevator pitch in italiano (opzionale in inglese) - Video in italiano (opzionale in inglese) - Demo in inglese
  18. 18. Executive Summary – 1: Vision & Mission Company / Business Idea Name Market - Utilizzate termini conosciuti - Descrivete l’evoluzione che rende il mercato attraente Mission - Tipo di prodotto/servizio - Clienti - Market need
  19. 19. Executive Summary – 2: Chi e dove siete Chi siete - Vendere quello che è significativo - Siate molto brevi Contact Name/email Telephone/Skype Fatevi trovare! A che punto siete? - Clienti? - Ambiente demo? - Qualche altra prova della vostra idea?
  20. 20. Executive Summary – 3: Market Data Competition - Nomi Competitive Advantage - Tecnico, commerciale, mentalità, ... - Window opportunity - Eventualmente usate un grafico Internazionalization / Expansion - Dove volete fare business - Come volete fare business - (Opzionale) Perché questa strategia? Market Opportunity - Size and CAGR - Mostrate perché
  21. 21. Executive Summary – 4: Financial Data Indicate chiaramente: - Quanti soldi volete - Entro quanto li volete - Per fare cosa Use of Proceeds - Siate quantitativi (Usata dei Reference Data se disponibili)
  22. 22. Esempio di elevator pitch per una seed company (a 60 seconds/120 words example): I am Ciccio Paduccio, co-founder and CTO of QQ7. QQ7 is developing a software for meeting the need to discover in real- time web page updates and correlate them with the information coming from the financial market By correlating virtually any web update with the information flowing on the main financial networks, we can reduce the investment risk for individual brokers and institutions up to 75%. The market we are addressing is worth more than €37B and is growing at CAGR exceeding 22% We have a demo environment of our technology and are seeking 100k€ to implement a ten months plan to develop the alpha version, strengthen our team and get ready for the series A
  23. 23. PowerPoint Slides • Master slide con uno stile piacevole • Poche e coerenti animazioni, colori, stili di scrittura • 5 + 2 (slide) = 7 (minuti) • Font 24+ • Verifica di stampa in bianco e nero • Aspetti grafici vincono sui testi • Titolo e take away line • Uso bilanciato dello spazio
  24. 24. La presentazione • Esempio di Presentation Outline • Slide # 1 e #7: Titolo, speaker, come rintracciarvi • Slide #2: The Problem We Solve • Slide #3: Market Analysis (Size, CAGR, Business Model) • Slide #4: Competitive Landscape • Slide #5: Financial Plan • Slide #6: Our Team • Scrivete il testo del discorso e portatelo con voi • Guardate l’audience, NON leggete le slide! • Voce e mani sono strumenti. Usateli • Presentate con passione • Provate, provate, provate • Anticipate le domande e preparatevi le risposte
  25. 25. logo tag line titolo speaker ruolo contatto Buongiorno, io sono Augusto Coppola, co-founder and CEO di ERIS4, una azienda software che indirizza un mercato da $30B, che ha già diversi clienti in Europa e che è diretta da un team che ha già gestito una startup di successo. La nostra tag line è it’s all about timing perché noi riteniamo che i service providers, che sono i nostri clienti target, possono incrementare in modo considerevole i loro profitti laddove siano in grado di gestire quelli che noi chiamiamo real-time customer profiles. Cos’è un real-time customer profile e cos’è una transazione dinamica multi-valore? Permettetemi di spiegarlo con alcuni esempi…
  26. 26. titolo slide take away utilizzo di elementi grafici bilanciamento dello spazio
  27. 27. VCs/BAs Innovation Lab Altri link di partenza http://www.iban.it http://www.thestartup.eu http://www.dpixel.it http://www.redherring.com http://www.biclazio.it http://www.techcrunch.com http://www.believing.it http://www.upstartroma.com http://www.innogest.it http://www.mindthebridge.org http://www.vertissgr.it http://enterpriseforum.mit.edu http://www.meta-group.com http://www.globalstartups.com http://www.h-farmventures.com http://www.tornado-insider.com http://www.italianangels.net http://www.siliconvalleyitalia.com http://www.moaicapitalgroup.com http://siliconvalleystudytour.ning.com http://www.360capitalpartners.com http://www.workingcapital.telecomitalia.it http://www.annapurnaventures.com http://www.sanpaolope.com/fondi-chiusi/fondo-atlante.htm Presentation Skills http://mindthebridge.blogspot.com/2009/03/how-to-present-to-vc-by-elisabetta.html
  28. 28. Q&A Grazie e in bocca al lupo! Augusto Coppola augusto.coppola@eris4.com ERIS4 co-founder & CEO http://www.eris4.com

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