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Let’s start a businessStartup Workshop #17th April 2011Lawrence LeeIreland Chinese Entrepreneurs Network
Any Questions?
What’d you actually do to startup business?
Lifestyle Business   High Potential Business
Stages of High Potential Company       Search               Grow         Execute       Scalable            Scalable       ...
Found          Idea is         Technology     A Customeran Idea       Feasible           Works           Buys    Product d...
Any Questions?
What the professional investors think    • Are you sure - nemoand why?
Opportunity vs Risk………•   Technology development•   Market development•   Team Capability•   Competitor behaviour•   Suffi...
A ‘view’ of Risk………                             Probability•   Technology development     80%•   Market development       ...
Success expectations?              Idea is          Technology        A Customer             Feasible            Works    ...
3                       TechnologyWhat VCs alwayswanted…                             1                    2           Mark...
Idea is          Technology        A Customer               Feasible            Works              Buys   Eliminate develo...
Any Questions?
Ideas Generation Workshop•   Divide into groups•   Nominate one facilitator and one timer•   Agreed on a language•   Proce...
Rules•   Defer Judgement•   Encourage Wild Ideas•   Build on Ideas of Others•   One conversation at a time•   Go for Quant...
VotingIdea   New?   Appealing? Feasible?   Total
One Minute First Pitch• A volunteer to pitch on each winning idea• This person will become the promoter for  this idea• St...
At the end of pitches• Volunteers to join the promoter and form a  team• The promoter has absolute power to pick  and choo...
Next Phase Week 1 Concept Elaboration               Week 2 (What is it? Use case)            Technology Elaboration       ...
• Next meeting• Feedback form• Linkedin Group - subgroups“Ireland Chinese Entrepreneurs Network”http://www.linkedin.com/gr...
Thank You
Ireland Chinese Entrepreneurs  meeting 1
Ireland Chinese Entrepreneurs  meeting 1
Ireland Chinese Entrepreneurs  meeting 1
Ireland Chinese Entrepreneurs  meeting 1
Ireland Chinese Entrepreneurs  meeting 1
Ireland Chinese Entrepreneurs  meeting 1
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Ireland Chinese Entrepreneurs meeting 1

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Ireland Chinese Entrepreneurs meeting 1

  1. 1. Let’s start a businessStartup Workshop #17th April 2011Lawrence LeeIreland Chinese Entrepreneurs Network
  2. 2. Any Questions?
  3. 3. What’d you actually do to startup business?
  4. 4. Lifestyle Business High Potential Business
  5. 5. Stages of High Potential Company Search Grow Execute Scalable Scalable  Large  Startup Company Company - Business Model found - i.e. Product/Market fit - Repeatable sales model - Managers hiredA Startup is a temporary organization used to search for a repeatable and scalable business model
  6. 6. Found Idea is Technology A Customeran Idea Feasible Works Buys Product development Proof of Proof of Beta Beta Product Product Product Product concept concept product product version 1.x version 1.x version 2.x version 2.x Commercial development Market Market Targeting Targeting Early Early “Chasm crossing” “Chasm crossing” identification identification “beta” “beta” adopter adopter or mass or mass & quantification & quantification customers customers sales sales market market Team development Entrepreneur Entrepreneur Sales Sales Operations Operations CFO CFO & CTO & CTO director director team team Funding development Angels & Angels & First round First round Second round Second round Bootstrapping & Bootstrapping & seed VC seed VC venture venture venture venture 3 “F”s 3 “F”s investors investors capital capital capital capital
  7. 7. Any Questions?
  8. 8. What the professional investors think • Are you sure - nemoand why?
  9. 9. Opportunity vs Risk………• Technology development• Market development• Team Capability• Competitor behaviour• Sufficient capital• IP Position• Etc.
  10. 10. A ‘view’ of Risk……… Probability• Technology development 80%• Market development 80%• Team Capability 80%• Competitor behaviour 80%• Sufficient capital 80%• IP Position 80%• Etc. 26%
  11. 11. Success expectations? Idea is Technology A Customer Feasible Works Buys Overall probability of success? P(success) = 80% 26% * 40% * 50% * 80% = ~4% P(success) = 50% P(success) = 40% ExpansionP(success) = 26% Capital Risk (ß) Capital Seed R&D Go-to-Market Funding Capital Capital
  12. 12. 3 TechnologyWhat VCs alwayswanted… 1 2 Market People
  13. 13. Idea is Technology A Customer Feasible Works Buys Eliminate development ProductTechnology Risk Proof of Proof of Beta Beta Product Product Product Product concept concept product product version 1.x version 1.x version 2.x version 2.x Commercial development Eliminate Market Targeting MarketEarly Risk “Chasm crossing” Market Targeting Early “Chasm crossing” identification identification “beta” “beta” adopter adopter or mass or mass & quantification & quantification customers customers sales sales market market Team development Eliminate Execution Risk Entrepreneur Entrepreneur Sales Sales Operations Operations CFO CFO & CTO & CTO director director team team Funding development Angels & Angels & First round First round Second round Second round Bootstrapping & Bootstrapping & seed VC seed VC venture venture venture venture 3 “F”s 3 “F”s investors investors capital capital capital capital
  14. 14. Any Questions?
  15. 15. Ideas Generation Workshop• Divide into groups• Nominate one facilitator and one timer• Agreed on a language• Process – 5 mins: Each member writes down 2+ ideas – 30 mins: • Each member tells one idea in turn • All members add to the idea or suggest new ideas • No more than 1 min on each idea • Facilitator writes down the idea – 10 mins: Vote to find the best ideas• Identify the top 3 ideas, get one volunteer for each of the 3 ideas
  16. 16. Rules• Defer Judgement• Encourage Wild Ideas• Build on Ideas of Others• One conversation at a time• Go for Quantity• Don’t elaborate on ideas
  17. 17. VotingIdea New? Appealing? Feasible? Total
  18. 18. One Minute First Pitch• A volunteer to pitch on each winning idea• This person will become the promoter for this idea• Straightly one minute• The pitch: – Your name – What is the idea? – Why is it important?• Audience interested in the idea take notes
  19. 19. At the end of pitches• Volunteers to join the promoter and form a team• The promoter has absolute power to pick and choose the members (ideally 2-5)• Each member only involves in one project.• Inform me which projects will be followed up
  20. 20. Next Phase Week 1 Concept Elaboration Week 2 (What is it? Use case) Technology Elaboration (How does it works?) (Possible patents and patent search)Week 3Market understanding(How does it fit in the existing Week 4value chain? Who are the key Financial and Planningplayers in the market? Whoare the key competitors) (What are the next steps? How much will it cost) (Understanding on team, future milestones, and deliverables)
  21. 21. • Next meeting• Feedback form• Linkedin Group - subgroups“Ireland Chinese Entrepreneurs Network”http://www.linkedin.com/groups?mostPopula r=&gid=3881467
  22. 22. Thank You

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