... no kidding, I’m seriousVision/Mission Statement Generators are freely available: http://www.timmcnulty.iofm.net/missionstatement.htm http://www.isms.org.uk/mission%20statement.htm http://www.laughing-buddha.net/toys/mission?Our challenge is to assertively network economically soundmethods of empowerment so that we may continuallynegotiate performance based infrastructures (generated by Dilbert ‘s Mission Generator)
Vision: why do we do it? Understanding trends to anticipate value
Visions: examplesMicrosoft 1978A computer on each single office deskMy first startup 1996New services will be enabled and provided by InternetMy second startup 2002Money will not be the only currency
4 qualities of a good vision1. Short (and written in plain English)2. Easy to understand (also if arguable)3. Comes true quite rapidly (less than 5 years)4. Persistent (it lasts for decades)
Mission: what we do? For whom?Microsoft 1975Developing one easy to use operating system for anyHW platform vendorMy first startup 1996Developing a billing system for Internet servicesdelivered by Telco operatorsMy second startup 2002Developing a Telco platform to dinamically authorize andprice purchases of any possible good based on anypossible currency combination
Challenging your core value Don’t project into the future your past success (i.e. success makes you blind)
Vision & Mission keep you focused Collect and organize data about pros and cons
What markets should we address?Large and quickly growing markets (CAGR > 10%)
Now write down your business idea1. What are the emerging trends we are noticing?2. What does our product/service do?3. Who will buy it?4. Why will they buy it?5. What is the forecasted size of our market?6. What is the duration of our opportunity window?Jot down everything in less than 200 words and start pitching your targets
What is the value of the idea? A person with a new idea is a crank until the idea succeeds (M. Twain)
Team: can we do it? Microsoft Corporation, 1978
Discipline of learning Fail fast and cheap (and move on)
What do you know about your market? nothingEntrepreneurs live in world of surprises, they cannot affordthe luxury of prejudices
What do you know about your market?everything We don’t know what the market will be. We perfectly know what the market was.
Questions about founders• 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?
A few football scoresGreat teams with bad ideas 2Average teams with average ideas 0Great teams with average ideas 2Average teams with great ideas 1...but great ideas are always generated by great teams