A team of entrepreneurs and professionals developed the StartMyBusiness123 program to help future entrepreneurs successfully start new businesses. The program provides a framework to guide entrepreneurs through three steps: 1) defining their business idea and creating a business concept, 2) testing the viability of the concept, and 3) identifying strategic issues, creating an action plan, and deciding whether to launch the business. The goal is to facilitate the start of new ventures by helping entrepreneurs consciously prepare and develop well-defined, tested business concepts.

1. Introducing VIEW © Prof. János Vecsenyi 2011.

2. I have a seemingly great business idea, but I am not sure about it. I would like to check it out before I launch my new venture. I am already running my small business. It would be great to know why it is not successful enough. I want to find the key to success. A number of wannapreneurs would like to get seed money from our venture capital firm, but they do not know exactly for what and why. I would like to offer them some help to think their business idea through and come to us with a well defined and tested concept. Being a consultant, I am regularly approached by a number of new entrepreneurs needing my help to get their basic questions answered. I would appreciate a professional toolkit to make my job easier. 2 © Prof. János Vecsenyi 2011.

4. Harvard alumni from the Entrepreneurship teaching program

5. Lectured at Tulsa Univerity (USA), INSEAD (France), University of Economics and Technical University (Budapest)

6. Recently published ‘Starting and Managing New Ventures’

7. Launched VJV Consulting to develop and distribute StartMyBusiness A team of entrepreneurs, venture capitalists, other professionals and I spent much time to develop the StartMyBusiness123 program to facilitate the successful start of new businesses for future entrepreneurs.

8. Starting a new venture Exciting adventure Conscious preparation Making a dream come true Getting to know the business world A journey to independence Business, profession, management © Prof. János Vecsenyi 2011. 4

9. Starting a new venture The big fit Market need Customer Product / sevice Seller © Prof. János Vecsenyi 2011. 5

10. Starting a new venture Business model Buyer Advertizer INCOME? Provider Tenant © Prof. János Vecsenyi 2011. 6

11. Starting a new venture Operation and management © Prof. János Vecsenyi 2011. 7 © Prof. János Vecsenyi 2011. 7

12. Starting a new venture You Your team Your network © Prof. János Vecsenyi 2011. 8

13. Starting a new venture 3 steps 1)Define 2)Test 3)Act Define what business you want to start or run. Test viability and develop your business. Act to solve strategic issues and decide on starting. © Prof. János Vecsenyi 2011. 9

15. What product/service do you want to sell at what price?

16. Where will your income come from directly or indirectly?

17. How will your business operate?

18. How much money will your business make?

19. How much money do you need to launch your business?

20. Who will be your partners? Foundation for start-up Based on your great idea you need to define a business concept to succeed. The business concept will define what kind of you want to start. BUSINESS CONCEPT 10 © Prof. János Vecsenyi 2011.

21. 1) Define The need The value proposition The business model The operational model The financials and investment needs The entrepreneur and the team © Prof. János Vecsenyi 2011. 11

22. 2) Test Do you want to know how viable your business is? Test against five criteria: Marketabilityshows whether your product/service can generate real paying customers. Competitiveness tells you how strong your position is among your competitors based on your special offer. Feasibility will focus on the operation of your business; whether the business can deliver on its promise. Profitability tests whether the business can really generate profit. Personal fitness reflects on your willingness and capabilities, which are prerequisites for a successful start-up. © Prof. János Vecsenyi 2011. 12

23. 2) Test Developing the business based on viability testing © Prof. János Vecsenyi 2011. 13

24. 3) Act Identifying strategic issues and solutions Creating action plan to solve strategic issues Decision on starting and execution © Prof. János Vecsenyi 2011. 14 VállalkozásIndító™ © dr. Vecsenyi János 2011

25. 3) Act Start-up Action Plan Viable Business Concept Elevator Pitch DECISION starting, postponing or stopping the venture What When Who OUTPUT Strategic issues and action plan for starting © Prof. János Vecsenyi 2011. 15

26. The framework DECISION starting, postponing or stopping the venture Strategic issues and action plan for starting What When Who STRENGTHENING STRENGTHS MANAGING RISKS SUCCESS FACTORS RISK FACTORS BUSINESS CONCEPT © Prof. János Vecsenyi 2011. 16 VállalkozásIndító™ © dr. Vecsenyi János 2011

27. Built-in support Examples, best practices Pro tips for risk management Calculation engine . © Prof. János Vecsenyi 2011. 17

28. From the idea to the launch Viable Business Concept Elevator Pitch Start-up Action Plan Execution Concise BUSINESS PLAN For Start-Ups © Prof. János Vecsenyi 2011. 18

29. What else can we tell you about StartMyBusiness123? If you’d like to learn more, drop us an e-mail: info@startmybusiness123.com Many of the questions we’ve received are answered on our FAQpage. © Prof. János Vecsenyi 2011. 19

30. A smart journey toa start! 20 © Prof. János Vecsenyi 2011.