Asher Epstein at Presentense 2008

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Dingman Center for Entrepreneurship

Smith School of Business University of Maryland

PresenTenseJerusalem, Israel

6/16/2008

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Ideation

Iteration

AssessmentImplementation

Dingman Center Tools:Venture Creation Process

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Market Size Impact Areas Window of Opportunity Growth Rate

Is the trend significant?

Dingman Center Tools: ASSESSMENT

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Who is the customer? Revenue Stream Customer Value/Satisfaction Catalyst Capital Requirements ROI Barriers to Entry Switching Costs Sweat Factor

Is the business model

fundamentally sound?

Dingman Center Tools: ASSESSMENT

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Catalyst

How do customers make a decision?

How do you reach customers?

What creates purchase decisions?

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What Drives Value?

• What are your key assets?– People– Plants– Process– IP

• Are they being invested in? – How often– How much– What are the returns?

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Find a Business Model that works

(Assessment)

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Five Questions Problem Addressable Market Your Solution Management Team Worthwhile

Dingman Center Tools: ASSESSMENT

Identify Key Problem

What Problem are you trying to solve?

Where does the money flow?

Who has the pain?

Market Challenges– Creating new markets

liquidity challenges

– Protection of IP

– Finding good talent Retaining Talent

– Understanding market regulations

– Moving fast enough

Create a prototype

Look for market validation

Learn how to make a $$$

Your Solution

Strong Management

Information that you know Information that you don’t

know Information that you don’t

know that you don’t know!

– Friends and Family– Angels

– Strategic Investors– Financial Investors

– Government Funds

Is it Worth it?Early Stage

Clear Value

When Available

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Improve the Model: (ITERATION)

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• Ask the right questions

• Learn from your mistakes

• Think BIG IDEAS!

Dingman Center Tools: ITERATION

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Guidelines for Success

• Invest in what works

• Find Sources of Capital

• Fail Fast

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Questions?

Asher Epsteinaepstein@rhsmith.umd.edu

(301) 405-9510

www.rhsmith.umd.edu/dingman