How to Run Your Company Like a Startup

Mark Coopersmith
Senior Fellow – UC Berkeley Haas
markcoop@haas.berkeley.edu
1© 2014 Mark Coopersmith
How to Run Your Company
Like a Startup

With my daughter Alison
on her 18th birthday

5
Now
• 20 min. of training
• jumped that day
• expert guide
• 2 mile freefall
@120 mph
© 2014 Mark Coopersmith

6
Then Now
• 5 hours of training
• jumped another day
• slow drop, no freefall
• friend got hurt
(training ≠ reality)
• 20 min. of training
• jumped that day
• expert guide
• 2 mile freefall
@120 mph

7
Then Now
Create
ventures and
essential tools
in real time
How We Teach Innovation
and Entrepreneurship

8
Then
How We Teach Innovation
and Entrepreneurship

“The way to get
started is to quit
talking and begin
doing.”
- Walt Disney

Today’s Challenge for
Entrepreneurs
It has probably never been easier to start a
(technology) business than right now.
And it has probably never been harder to
scale one and succeed.

Where to focus as an entrepreneur?
Passion &
Values

Expertise
Passion &
Values

Expertise
Passion &
Values
Market/Opportunity

Advice from UC Berkeley grad Scott Adams

Q:
Can entrepreneurship and
Innovation be Taught?

“Higher orders of
thinking, learning,
retention and
capabilities are
attained by creating.”
© 2013 Mark Coopersmith 18
“Anderson, Krathwoh”
How We Learn

Our teaching approach to this topic
Introduce
(new)
Concepts
Apply
Learnings &
Create
Receive
Feedback
(customers,
instructors,
experts)
Integrate,
Iterate,
Evolve

Toolbox and tools
Trumaker

• Executive Summary
• Pitch Deck
• Prototype or demo
• Customer Personas
• Product Positioning
• Financial Model
• Business Model

Executive
Summary
or
Company
Overview

What problem are you
solving, or what need are
you meeting, and for
whom?

© 2011 Mark Coopersmith24
Customer
Discovery

Personas
A fictional character who
represents your target customer.
You will want to create/include their:
• name
• picture
• demographics such as age, education,
ethnicity and family status.
• job title
• major responsibilities
• you might also include favorite tv shows,
music, quotes, etc.

Describe your venture in 7 words

Positioning Grid - simple

Hot
Cold
Fast Slow
A New Breakfast Product

The right pricing strategy can make a huge
difference in a company’s success
Pricing

Be a demo god

Entrepreneurship is a contact team sport

Chickens, Pigs, and a Ham & Egg Breakfast
40

We bring in experts & seasoned entrepreneurs
to share experience & provide feedback

Who are your
seasoned experts?

Not typical textbooks
- great insights from practitioners

When things don’t go according to plan
10 top reasons that startups fail

10 Top Reasons Start-ups Fail
10. Wrong opportunity; or Right opportunity/wrong time
9. Wrong business model
8. The Product didn’t…
…work / meet customer needs /delight / etc.
7. Weak team and/or bad team dynamics
6. Poor execution: discipline, scaling, systems
5. The IP wasn’t as valuable as you thought it was
- in fact it infringed on someone else’s IP
4. Misalignment/wrong investors, BoD, partners, channels
3. Failure to evolve & adjust to changing conditions
2. Strong or unexpected competitive response

1. And the #1 reason startups go out of business is…

1. And the #1 reason startups go out of business is…
…they run out of money

And the OTHER #1 reason
is that they do not
drive…

What three things will
you try or do differently
next Monday?

Resources and References
• Top Internet Trends 2014
– http://www.kpcb.com/internet-trends
• 100 Questions Every Entrepreneur Should Ask
– http://bit.ly/100-Questions-Entrep-Should-Ask
• Follow me on Twitter: @MarkCoopersmith

<end>

Ideas
Innovation
Invention
Entrepreneurship
Innovation, Invention, Ideas & Entrepreneurship

Branding

Core Principles for Defining and
Building Brands
1. RELEVANCE
a brand must be relevant to its key
audiences and to its category
• what customers care about and
what’s important to them
2. DIFFERENTIATION
a brand must be clearly differentiated
from its competitors
• functional
• emotional
3. CREDIBILITY
a brand must be perceived as capable
of delivering on its claims
• what is believable and achievable
4. SUSTAINABILITY
a brand must be able to sustain its
relevance, differentiation, and credibility
over its lifecycle
• internal changes
• market changes

What is Important for
Entrepreneurial Growth?
In a study, the World Economic Forum asked entrepreneurs
“what were the three major accelerators leading to growth
in your company’s early stages?”
60

Pillars of Entrepreneurial Ecosystems
6 core factors
Universities: research,
idea formation
Mgmt/technical
talent
Incubators &
Accelerators
Access to funding
does not always
mean local financing
– investors are mobile
Funding and Mentors often
closely related
Is failure
tolerated?
Ecosystem
Development
Accessible
Markets
Human
Capital &
Education
Funding
&
Finance
Support
System &
Mentors
Government
&
Regulatory
Framework
Cultural
Support
61

How to Run Your Company Like a Startup

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