1 / 19

ENTREPRENEURSHIP II

ENTREPRENEURSHIP II. Babs Bailey Carryer Spring 2002. Goals of course. To create, for all intents and purposes, a viable new business To understand steps necessary in the creation of a new venture To be able to tell the story of this new venture in a dynamic and compelling way. Innovation.

presley
Download Presentation

ENTREPRENEURSHIP II

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ENTREPRENEURSHIP II Babs Bailey Carryer Spring 2002

  2. Goals of course • To create, for all intents and purposes, a viable new business • To understand steps necessary in the creation of a new venture • To be able to tell the story of this new venture in a dynamic and compelling way

  3. Innovation • New product • New technology • New integration • New market • New industry

  4. Innovation continued • Not necessarily “new” • Must be unique • Must have a market

  5. Effective innovations start small. They are not grandiose. They try to do one specific thing. It may be the elementary idea of putting the same number of matches in a matchbox. This simple notion gave the Swedes a world monopolyon matches for half a century. Peter Drucker

  6. We succeeded (in the Normandy Invasion) because we didn’t know it was impossible. Winston Churchill

  7. Market opportunity • Problem • Pain • Solution • Big markets • Growing markets • Accessible markets

  8. Growing the company • From inception to exit • The steps necessary • Experience first hand, not from a book

  9. Dividing the pie • Founders • Investors • Change over time • Dilution • Wealth creation for shareholders • Different rights with different types of stock

  10. Legal entity • C corp • S corp • LLC • Partnership • Sole proprietorship • Other

  11. Funding • Self • Friends and family • Angels and private investors • Vcs • Institutions • Other: industry partnerships, customers, etc.

  12. Hiring management • CEO, marketing and sales, finance, technical, support • Where do you find good candidates? • What do you give them? • How do you keep them?

  13. Creating a board of directors • What is a board? • What do they do and how often? • Finding and recruiting candidates • Compensation • Ongoing governance • Staying out of trouble • D&O insurance

  14. Advisors and mentors • Why have them • Formal or informal • Compensation and expectations • Filling in the gaps of your knowledge

  15. Market research • Secondary research • Primary research • Comparables • Finding the market opportunity

  16. Market analysis • Segment • Target • Position • Creating a marketing strategy that positions the company for success • Entry, dominance, sustainability

  17. Financial analysis • Income statements • Cash flow • Balance sheet • Pro formas • Expenses • Revenue streams

  18. Creating a business plan • Internal and external uses • Clear articulation of story • Blueprint for moving forward • Focusing on what’s important • Concept, strategy, execution

  19. Resources • Bootstrapping resources to marshal and minimize resource utilization • Other people’s money (opm) • Head skis and money up front • Networking and network effects

More Related