Workshop on Business Planning, presented by professor Robert Warren (University of Manitoba) at the Idea to Product Competition Latin America at FGV.
Workshop de planos de negócios apresentado pelo professor Robert Warren (Universidade de Manitoba), durante a competição de inovação Idea to Product Latin America na Fundação Getulio Vargas.
This lecture covers all the essentials of building and delivering an effective pitch to help you find financing for your entrepreneurial venture or sell your product to customers. Learn the elements of a good pitch deck and identify the key elements of good communication that successful start-ups use.
Learn how to research a market. This deck covers the basics of how to conduct market research, including qualitative research methods, research questions, project planning and execution framework, and how to get started on your own. Taught by Natalie Nathanson of Magnetude Consulting
How To Conduct a Market Analysis - SD Forum's Crafting A Fundable Roadmap For...Steve Tennant
How to conduct market analysis - a roadmap for startups. Presented at Software Development Forum March 31, 2009. Steve Tennant, Tennant Consulting, www.tennantconsulting.com. Tip of the hat to Scott Schwertly from Ethos3 Communications for "Meet ____" presentation format.
Much before a company starts to estimate the market size, it is very important to compile the data concerned in PPT template format relating to the study of market potential. Other parameters like defining of customer target, penetration rate, and potential market size can be addressed with ease in a Market Sizing PowerPoint Presentation Slides. As far as company’s allocation is concerned in the total market size it can be measured by the stats of total volume rightly updated in presentation template. Number handling and other calculation part has become very easy as all the measurement tables and formulas are supported in PowerPoint slideshow. In a conference hall qualitative and qualitative aspects can be handled, brought into notice and assessed with ease using pre designed graphics in PPT layout. Even before a new product or service is launched its important to understand the market potential with respect to your company, all of which can be tracked with presentation slide, thus helping you to stand at par with others. Ensure ethnic feelings are duly considered with our Market Sizing PowerPoint Presentation Slides. Be able to address cultural concerns.
Opportunity evaluation template for business ideas. This presentation was delivered by Prof. Prema Basargekar during a crash course organized for e30, riidl - Somaiya Vidyavihar's first business plan competition.
Every business (and start up) is constantly identifying new opportunities. Typically, the goal is to bring in new sources of revenue, but it might also be for strategic reasons such as developing a partnership, distribution channels, new technology or a combination. Here are some key ways and principles for evaluating new opportunities.
Reliable market sizing doesn't have to be as complicated or painstakingly slow as you think. This presentation offers a quick overview of the art and science of market sizing, and offers a step-by-step guide on how to conduct seven fast market sizing approaches.
Market sizing TAM SAM SOM Target MarketReza Hashemi
Startups need a clear understanding of their market segment and show know about SAM, TAM abd SOM. As a Mentor in StartupWeekend and NEXT program, I have noticed that many entrepreneurs are not familiar with these terms. Here’s a quick explanation of what they mean, as an addition to this useful slides (Copyright notes inside) :TAM is Your Total Available or Addressable Market (everyone you wish to reach with your product) , SAM is Your Segmented Addressable Market or Served Available Market (the portion of TAM you will target), SOM is Your Share of the Market (the subset of your SAM that you will realistically reach – particularly in the first few years of your business), SOM is known as Target Market in Steve Blanc Startup Manual.
Identifying your TAM, SAM and SOM requires some market research.
No doubt Startups ought to know everything about the market they are playing in. Here is why understanding your market is important for a startup and how startups can go about it.
Growing Your Business In A Hyper Competitive MarketAndrew Samrick
The keynote address at the 2011 TEANA conference, this presentation details the forward expectations of manufacturers and distributors, as well as the operating and commercial activities those in the transportation industry will need to master to remain competitive in a highly fragmented market space.
Learn how to create an action plan that defines how you will reach your target customers and achieve competitive advantage. This session is geared for startups that have not yet entered the market and are contemplating what needs to be in place for product launch.
Choosing how much you will pay an employee is tricky. We explain how small business owners can create a pay system that maintains employee loyalty and happiness.
Original blog post: https://www.patriotsoftware.com/payroll/training/blog/what-is-internal-equity/
Try our online payroll software: https://www.patriotsoftware.com/payroll/
This lecture covers all the essentials of building and delivering an effective pitch to help you find financing for your entrepreneurial venture or sell your product to customers. Learn the elements of a good pitch deck and identify the key elements of good communication that successful start-ups use.
Learn how to research a market. This deck covers the basics of how to conduct market research, including qualitative research methods, research questions, project planning and execution framework, and how to get started on your own. Taught by Natalie Nathanson of Magnetude Consulting
How To Conduct a Market Analysis - SD Forum's Crafting A Fundable Roadmap For...Steve Tennant
How to conduct market analysis - a roadmap for startups. Presented at Software Development Forum March 31, 2009. Steve Tennant, Tennant Consulting, www.tennantconsulting.com. Tip of the hat to Scott Schwertly from Ethos3 Communications for "Meet ____" presentation format.
Much before a company starts to estimate the market size, it is very important to compile the data concerned in PPT template format relating to the study of market potential. Other parameters like defining of customer target, penetration rate, and potential market size can be addressed with ease in a Market Sizing PowerPoint Presentation Slides. As far as company’s allocation is concerned in the total market size it can be measured by the stats of total volume rightly updated in presentation template. Number handling and other calculation part has become very easy as all the measurement tables and formulas are supported in PowerPoint slideshow. In a conference hall qualitative and qualitative aspects can be handled, brought into notice and assessed with ease using pre designed graphics in PPT layout. Even before a new product or service is launched its important to understand the market potential with respect to your company, all of which can be tracked with presentation slide, thus helping you to stand at par with others. Ensure ethnic feelings are duly considered with our Market Sizing PowerPoint Presentation Slides. Be able to address cultural concerns.
Opportunity evaluation template for business ideas. This presentation was delivered by Prof. Prema Basargekar during a crash course organized for e30, riidl - Somaiya Vidyavihar's first business plan competition.
Every business (and start up) is constantly identifying new opportunities. Typically, the goal is to bring in new sources of revenue, but it might also be for strategic reasons such as developing a partnership, distribution channels, new technology or a combination. Here are some key ways and principles for evaluating new opportunities.
Reliable market sizing doesn't have to be as complicated or painstakingly slow as you think. This presentation offers a quick overview of the art and science of market sizing, and offers a step-by-step guide on how to conduct seven fast market sizing approaches.
Market sizing TAM SAM SOM Target MarketReza Hashemi
Startups need a clear understanding of their market segment and show know about SAM, TAM abd SOM. As a Mentor in StartupWeekend and NEXT program, I have noticed that many entrepreneurs are not familiar with these terms. Here’s a quick explanation of what they mean, as an addition to this useful slides (Copyright notes inside) :TAM is Your Total Available or Addressable Market (everyone you wish to reach with your product) , SAM is Your Segmented Addressable Market or Served Available Market (the portion of TAM you will target), SOM is Your Share of the Market (the subset of your SAM that you will realistically reach – particularly in the first few years of your business), SOM is known as Target Market in Steve Blanc Startup Manual.
Identifying your TAM, SAM and SOM requires some market research.
No doubt Startups ought to know everything about the market they are playing in. Here is why understanding your market is important for a startup and how startups can go about it.
Growing Your Business In A Hyper Competitive MarketAndrew Samrick
The keynote address at the 2011 TEANA conference, this presentation details the forward expectations of manufacturers and distributors, as well as the operating and commercial activities those in the transportation industry will need to master to remain competitive in a highly fragmented market space.
Learn how to create an action plan that defines how you will reach your target customers and achieve competitive advantage. This session is geared for startups that have not yet entered the market and are contemplating what needs to be in place for product launch.
Choosing how much you will pay an employee is tricky. We explain how small business owners can create a pay system that maintains employee loyalty and happiness.
Original blog post: https://www.patriotsoftware.com/payroll/training/blog/what-is-internal-equity/
Try our online payroll software: https://www.patriotsoftware.com/payroll/
"Six Steps to create the Perfect Pitch"
• How to research and choose the right investor.
• Writing your Pitch.
• Best way to tell your story to an investor.
• Tips on keeping your Pitch short and simple.
• How to hire the best designer to create your Pitch Deck.
Start-ups are all the rage these days, everyone is trying to create the next facebook, twitter or whatever. Where's your idea for a killer startup?? Here's a template that will help you for sure. | abhishek.shah@live.com
Here is George Deeb's presentation to the 2014 class of entrepreneurs at Founder Institute in Chicago. Lots of good information herein on how to drive revenues and attract investors with your traction. George is the Managing Partner at Red Rocket Ventures (www.RedRocketVC.com), a Chicago-based startup consulting, shared executive and fund raising firm. You can follow George on Twitter at http://twitter.com/georgedeeb.
What does success look like in your industry how do you get topLeul Girma
What does success look like in YOUR industry? How do you get top?
Success is one of the most controversial issues today
Also the concept of industry has become more complex than ever before. Some companies still find it difficult to identify which industry they are in, No matter if you are in one or several industries, you will enjoy this topic.
This video will bring you the most useful tools to analyze your business internal and external environment , then guide you to moving ahead dramatically .After watching this video you will able to know how to lead your business significantly moving forward.
We will discuss deeply how to identify your success factors, in this session will get clear understanding
about industry nature and characteristics very well. Because when you know about the particular city’s road traffic, drivers behavior ,exceptional rule and regulations you will drive greatly. It is very similar with business world
based on industry and company facts we will evaluate your business current position , if is that great you will maintain to being more strong. other ways it motivate you to do something significant action in your business, that could be a milestone to moving ahead dramatically.
Apresentação comparativa do artigo Cibercultura, apropriação do espaço público e os usos da cultura digital: o caso do Ocupa Sampa, os Indignados de São Paulo (OLIVEIRA, R. C. A. Cibercultura, apropriação do espaço público e os usos da cultura digital: o caso do Ocupa Sampa, os Indignados de São Paulo. ANPOCS 2014.) em perspectiva comparada com o movimento Occupy (Wall Street) e fala de Manuel Castells.
Apresentação feita na AmCham (Câmara Americana de Comércio) sobre como se preparar para pitch de vendas em feiras de negócios. Rene Jose Rodrigues Fernandes
Matéria evidenciando os resultados do Latin Moot Corp e datas do I2P e Latin Moot Corp (2007), na revista Pequenas Empresas & Grandes Negócios (divulgação)
Presentation on the panel “Silicon Valley Recipe: Enhancing the High-Tech Ecosystem in Emerging Markets” about the panorama of entrepreneurship and venture capital in Brazil, with cases.
Artigo "O uso das competições de planos de negócios como ferramenta de ensino de empreendedorismo", apresentado no XX Seminário Nacional de Parques Tecnológicos e Incubadoras de Empresas da Anprotec, em Campo Grande, MS, em 23 de setembro de 2010. Autoria de Rene Fernandes, Tales Andreassi e Johanna Vanderstraeten.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Unit 8 - Information and Communication Technology (Paper I).pdf
Raising External Equity - Business Plan Workshop presented at I2P Latin America
1. Raising External Equity:Know Your Audience Robert Warren I.H. Asper Executive Director for Entrepreneurship University of Manitoba
2. Experience Valuation experience – New York Founder of the Winnipeg Angel Organization Founder Prairie Centre for Business Intelligence Founder of the Manitoba Venture Challenge Supported over 20 equity-backed start-ups 5 exits involving a combined return of over $400 million CAD Currently working with Israeli incubators to launch new ventures
3. Guy Kawasaki The TOP 10 LIES OF ENTREPRENEURS Common Things Heard By Investors
4. An Entrepreneur Enters My Office We’ll easily exceed our projections What’s conservative? Rob’s Rules – Revenue X 0.5 and Expenses X 5 It’s a $50 billion USD market! Total versus addressable market Rob’s Rule - Tell me about the market you can reach An industry leader will buy from us within a week Project Whitecard – I’ve heard this story 5 times Rob’s Rule – Call me when you have a signed purchase agreement
5. Are You Still Here? Person X will join us as soon as we can pay them Rob’s Rules – Will they leave a guaranteed job? Have they heard of you? If they love you so much why aren’t they in now and why aren’t they invested? We have no competition! Is there no market? Rob’s Rule – If it’s a great opportunity they are 10 other people in Brazil doing it and 10 in the US – China and India 30 each
6. Wishing They Would Leave We have other interested investors Rob’s Rule – If you’re telling me this you don’t. The big industry player is too big or too slow Rob’s Rule – They are probably your customer – not to mention your biggest threat. Beware the do nothing approach Our management team is top notch Rob’s Rule – 4 exits that made money
7. I Really Need a Caipirinhas! We have patents! Rob’s Rules – Can you defend them? Do you have a patent strategy? 1% of the market will make us a success! Rob’s Rules – 1% of the market means the investor makes little to no money. Think big. Do you know how tough it is to reach 1%
8. What Do Investors Want? D – Disruptive You need to change the way things work NOVADAQ Technologies I – Innovative Something new and exciting. The iPod. D – Defensible Intellectual property with a number of claims IP strategy – Freedom to Operate Blackberry S – Scalable Can we produce this by the thousands with little effort? Paypal
9. But They Want More Validated Market Rob Adams “If You Build It, Will They Come” Talk to 100 customers – three times (Ready, Aim Fire) Opportunity Competitive assessment – third party Risk Reduction Real management team Staged-Gate Approach to Growth Return 10X minimum Strategy How are you going to take advantage of the opportunity?
10. Validated Market Who are your end-users? Are the end-users the customers? If not, who plays a role in the purchase process? ImrisTechnolgies How much are they willing to pay? How often will they buy? Who are your competitors? What are their relative strengths? Weaknesses? How likely are they to shift? What will it take? Outside validation
11. Risk Reduction Market Market validation – external Beta sales Management Team Industry experience – gets sales quicker Exit experience Set key accomplishments First customer or distributor First re-order Tied to financial requirements
12. Written Plan and Presentations Building on Strengths and Weaknesses
13. Stages in the Contact Process References are the keys Lawyers, successful entrepreneurs, incubator managers, mentors, bankers and accountants Credibility Quick Pitch Elevator One page executive summary Tradeshow Venture showcase Dragon’s Den Written Plan Formal
14. Quick Pitch Goal – Opportunity Identification Market Financial Executive Summary Don’t focus on the product – think return Avoid technical/industry jargon Elevator Pitch Max. Of 60 seconds Pick 4 things you want to cover End - Ask for a follow-up meeting
15. Tradeshow Dragon’s Den Get in front of three or more potential investors More interactive – learn the right questions Tradeshow Opportunity to really go into depth Be prepared to switch between business and technical issues
16. Written Plan Shorter is better – 10 pages maximum 100 plus pages are operational plans Focus on the business and not the technical Technical comes in due diligence Sales brochure Limit the appendices to key financial information Key Components Market Management Merchandise Money
17. Formal Presentation Builds on the written plan Focus on issues that are better presented in-person or have a graphical component Think of it as a 10 minute commercial Key – Question and Answer Section
19. Who Are Your Customers? Start with a description of the need Focus on opportunity Develop some identifying questions or attributes Will help you focus on the most likely customer What’s missing in the current options available? Rank in order of importance
20. Focus on Key Customers Who are the largest customers in a segment? Where are they located? How often do they buy? What are they used to spending per unit or per purchase? Identify floor and ceiling prices Why is this critical to a new venture?
21. Know the Purchase Process How long does it take a customer to make a decision? Who is involved in the purchase decision process? Understand the various roles played Where are they located? When is the last time they made a major change? Why?
22. Benefits What’s the core problem they are looking to solve? Time Cost Quality What are the secondary benefits they seek? What product features will provide these benefits? Value: what is your value added benefit?
23. Competition Direct and indirect Overcomes one of the Top 10 Lies Told by Entrepreneurs Do a threat assessment Consider all pertinent features, e.g. price, market share Who’s a likely competitor? Think similar product in a different market or ease with which they could access a competing product
24. Current Products Advantage and disadvantages Rank based on severity of the threat Are your competitors doing anything that will result in new/improved products? Check patent applications Check local newspaper articles and relevant trade journals Google them US publicly traded companies – 10K’s What’s their past history of innovation?
25. Tell Me More About the Competition Market share Major customers Relationship with opinion leaders Sales Growth and distribution Distribution Methods and core partners Production capabilities
27. Sales and Market Share Two methods available Top - Down Bottom – Up Top – Down Pro: Easy Cons: Prone to error and doesn’t account for your resource constraints Leads to another famous lie told by entrepreneurs Bottom – Up Pro: Produces more accurate and achievable targets Con: Time consuming and requires a better description of the target market
28. Show Your Assumptions Keep track of your resources How many customers can you realistically reach? Trends in the market How much of your growth comes from: Growth in the market? Acquiring customers? Repurchases VC’s love to see recurring revenue
29. Don’t Stop Describe how you’ll monitor the market Avoid being blindsided Competitive intelligence system
30. Market Structure Describe the competitive environment Pure competition or oligopolistic? Buyers - Identify the key players Market power they exert Trends impacting this structure Regulatory Technological changes Consolidation
31. Consider Number of buyers Sensitivity of demand Cost conditions Information gaps Avoid industries with these characteristics: Concentrated Perfectly competitive Mature or declining
32. Market Economics Gross and operating margins Profit potential and durability Discuss barriers to entry Technological and market lead time First Mover Advantage? Fixed, variable and semi-variable costs Benchmark to industry norms Months to break even Months to positive cash flow When will you run out of cash? Asset intensity
33. Who Has the Power? Supplier power How many are there? Do they supply actualotential competitors Payment terms and structure Distributors Terms for getting picked up Credit options Why use a distributor?
34. Regulatory Hurdles Regulatory bodies involved Markets involved Approval process Steps involved and documentation required Understand what can go wrong and prepare Role of consultants Time required for approval What’s the impact on your business if there’s a glitch?
35. Marketing Strategy What is your marketing philosophy? Who are your actual customers? Potential customers? What will you do innovatively? Where will you first introduce your lead product? Why? Will you face any seasonal trends? How can you use government contracts to provide cash flow?
36. Pricing What will you charge? Payback time for the customer? Compare your prices with the competition What’s your gross margin? Is this enough? What net will you end up with?
37. More on Pricing How will your proposed price: Help get your lead product accepted Maintain or increase your market share as competition comes on line Produce profits What’s the relationship between price, market share and profits?
38. Sales Tactics What method will you use? What margins will your pricing policy allow for the other members of the value chain? What are your expected sales per rep? dealer? Discuss a potential selling schedule
39. Advertising and Promotion How will customers know you exist? What are the key tradeshows and journals in your industry? How will you use these? Design a promotional schedule and budget Include expected outcomes of these activities
40. Distribution Describe your proposed channels Is shipping cost an issue? Do you face any special problems in distributing your product? Describe any international regulations you’ll have to address What does it take to ship food products into the US?
42. The Basics Think of the team as interlocking bricks Lead entrepreneur Supporting team Board of Advisors (can be multiple) External experts – consultants and professionals Who are you? Where do you want to end up? Roles that need to be filled Velma Kelly in Chicago – “I Just Can’t Do It Alone”
43. Lead Entrepreneur Commitment and determination Leadership Opportunity obsession Tolerance of risk, ambiguity and uncertainty Creativity, self-reliance and adaptability Motivation to excel
44. Commitment and Determination Tenacious and decisive, able to recommit/commit quickly Intensely competitive in achieving goals Persistent in solving problems, disciplined Willing to undertake personal sacrifice Immersed
45. Leadership Self-starter; high standards but not a perfectionist Team builder and hero maker; inspires others Treats others as you want to be treated Shares the wealth Honest and reliable; builds trust; practices fairness Not a lone wolf Superior learner and teacher Patient and urgent
46. Opportunity Obsession Intimate knowledge of customers’ needs and wants Market driven Obsessed with value creation and enhancement
47. Tolerance of Risk Calculated risk taker Risk minimizer Risk sharer Manages paradoxes and contradictions Tolerates uncertainty and lack of structure Tolerates stress and conflict Able to resolve problems and integrate solutions
48. Creativity Non-conventional, open-minded, lateral thinker Restless with the status quo Able to adapt and change; creative problem solver Quick learner No fear of failure Able to conceptualize and “sweat details”
49. Motivation to Excel Goal and results oriented; high but realistic goals Drive to achieve and grow Low need for status and power Interpersonally supporting (versus competitive) Aware of strengths and weaknesses Has perspective and sense of humour
50. Lead Entrepreneur: Desirable Attributes Capacity to inspire Values Energy, health and emotional stability Creativity and innovativeness Intelligence
51. Avoid Being . . . Macho Perfectionist Impulsive Authoritarian Know it all Invulnerable Outer control Dependent on others
53. Administrative Problem solving Communications Planning Decision making Project management Negotiating Managing outside professionals Personnel administration
54. Law and Taxes Corporate and securities law Contract law IP laws Tax law Real estate law Bankruptcy law
55. Marketing Market research and evaluation Marketing planning Product pricing Sales management Direct selling Service management Distribution management Product management New product planning
57. Finance Raising capital Managing cash flow Credit and collection management Public and private offerings Ability to read and prepare financial statements
58. The Team Cohesion Teamwork Integrity Commitment to the long haul Harvest mind-set Commitment to value creation Equal inequality Fairness Sharing of the harvest
59. Building a TeamBuilds Off the Lead Entrepreneur Relevant industry, market and technological know-how Contacts and networks Look for “A” team players People that will sacrifice and commit Risks and rewards Define roles
60. Rewards and Incentives Lead – you’ll have to give up some of the pie Rewards Differentiation Performance Flexibility Timing
61. Determining Value Idea Business plan preparation Commitment and risk Skills, experience, track record or contacts Responsibility
62. Board of Directors Fill some of the gaps still in existence Networks Experience raising cash Be objective and take your time Used as part of an investment package Define expectations and minimum requirements 9-10 days of time per year are required
63. Other Issues Technical board of directors Reviews your scientific progress Informal board of advisors Good place to look for potential board members Liability Harassment Beware unsophisticated investors and their expectations Time and risk You’ll need lots of director time and offer plenty of risk
65. Merchandise What is it? Discuss the key features and their importance How is it used? Primary and secondary uses What pain are you addressing? Where do you derive value? What differentiates you from the others? What’s the customer’s payback period?
66. Ups and Downs What are the downsides of your product? What is your current state of development? How long and how much will it take you to complete development? Do you have any type of technology lead? How long is it? What is your IP?
67. Development Status and Tasks What competencies or expertise is needed to finish development? List customer involvement in the product’s development What’s the greatest risk in your product development process? How will you lessen this risk? What will it cost if your product is delayed? Airbus 380 – a costly wiring problem
68. Proprietary Issues IP Contractual agreements giving you exclusive rights What happens if these disappear? Costs Business impact – Will you still have a business?
69. Operational Issues Operating cycle Lead/lag times impacting your business Seasonal variations Potential impact on revenues, costs, profits Is geography an issue in your business decision process?
70. Facilities and Equipment What do you need to produce your product? Purchase or lease Impact on profitability Is there a tipping point? Describe the production process Discuss how costs and inventory levels vary over different sales figures Quality issues
72. Money - Requirements How much do you need? When do you need it? What’s it for? When will I get it back? How will I get it back?
73. Money - Reporting Cash Flow Timing issues Tie to your financial requirements Income Statement Balance Sheet Importance of industry norms Prepare under a variety of conditions Realize the investor has their own ideas
74. Valuation Know your comparables What value will produce the needed return to an investor? Typically looking for a minimum of 10X Portfolio management issue Use a couple of methods Free cash flow Multiple of sales or earnings Produce a range of values – back to comparables Be prepared to negotiate – value is in the eyes of the purchaser
75. Questions and Comments Robert WarrenI.H. Asper Executive Director for EntrepreneurshipStu Clark Centre for EntrepreneurshipUniversity of ManitobaWinnipeg, Manitoba, Canada R3P 1E3Robert_Warren@Umanitoba.ca