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Asher Epstein at Presentense 2008

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Asher Epstein at Presentense 2008

  1. 1. Dingman Center for Entrepreneurship Smith School of Business University of Maryland PresenTense Jerusalem, Israel 6/16/2008
  2. 2. Dingman Center Tools: Venture Creation Process Ideation Iteration Assessment Implementation
  3. 3. Dingman Center Tools: ASSESSMENT <ul><li>Market Size </li></ul><ul><li>Impact Areas </li></ul><ul><li>Window of Opportunity </li></ul><ul><li>Growth Rate </li></ul>Is the trend significant?
  4. 4. Dingman Center Tools : ASSESSMENT <ul><li>Who is the customer? </li></ul><ul><li>Revenue Stream </li></ul><ul><li>Customer Value/Satisfaction </li></ul><ul><li>Catalyst </li></ul><ul><li>Capital Requirements </li></ul><ul><li>ROI </li></ul><ul><li>Barriers to Entry </li></ul><ul><li>Switching Costs </li></ul><ul><li>Sweat Factor </li></ul>Is the business model fundamentally sound?
  5. 5. Catalyst How do customers make a decision? How do you reach customers? What creates purchase decisions?
  6. 6. What Drives Value? <ul><li>What are your key assets? </li></ul><ul><ul><li>People </li></ul></ul><ul><ul><li>Plants </li></ul></ul><ul><ul><li>Process </li></ul></ul><ul><ul><li>IP </li></ul></ul><ul><li>Are they being invested in? </li></ul><ul><ul><li>How often </li></ul></ul><ul><ul><li>How much </li></ul></ul><ul><ul><li>What are the returns? </li></ul></ul>
  7. 7. Find a Business Model that works (Assessment)
  8. 8. <ul><li>Five Questions </li></ul><ul><li>Problem </li></ul><ul><li>Addressable Market </li></ul><ul><li>Your Solution </li></ul><ul><li>Management Team </li></ul><ul><li>Worthwhile </li></ul>Dingman Center Tools : ASSESSMENT
  9. 9. Identify Key Problem <ul><ul><li>What Problem are you trying to solve? </li></ul></ul><ul><ul><li>Where does the money flow? </li></ul></ul><ul><ul><li>Who has the pain? </li></ul></ul>
  10. 10. Market Challenges <ul><ul><li>Creating new markets  liquidity challenges </li></ul></ul><ul><ul><li>Protection of IP </li></ul></ul><ul><ul><li>Finding good talent  Retaining Talent </li></ul></ul><ul><ul><li>Understanding market regulations </li></ul></ul><ul><ul><li>Moving fast enough </li></ul></ul>
  11. 11. <ul><li>Create a prototype </li></ul><ul><li>Look for market validation </li></ul><ul><li>Learn how to make a $$$ </li></ul>Your Solution
  12. 12. Strong Management <ul><ul><li>Information that you know </li></ul></ul><ul><ul><li>Information that you don’t know </li></ul></ul><ul><ul><li>Information that you don’t know that you don’t know ! </li></ul></ul>
  13. 13. <ul><ul><li>Friends and Family </li></ul></ul><ul><ul><li>Angels </li></ul></ul><ul><ul><li>Strategic Investors </li></ul></ul><ul><ul><li>Financial Investors </li></ul></ul><ul><ul><li>Government Funds </li></ul></ul>Is it Worth it? Early Stage Clear Value When Available
  14. 14. Improve the Model: (ITERATION)
  15. 15. <ul><li>Ask the right questions </li></ul><ul><li>Learn from your mistakes </li></ul><ul><li>Think BIG IDEAS! </li></ul>Dingman Center Tools : ITERATION
  16. 16. Guidelines for Success <ul><li>Invest in what works </li></ul><ul><li>Find Sources of Capital </li></ul><ul><li>Fail Fast </li></ul>
  17. 17. Questions? <ul><li>Asher Epstein </li></ul><ul><li>[email_address] </li></ul><ul><li>(301) 405-9510 </li></ul><ul><li>www.rhsmith.umd.edu/dingman </li></ul>

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