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Page 1Page 1Powerpoint Templates
John Richards
Business ModelCompetition
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The Startup Process
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Metamorphosis of EntrepreneurshipHappening Right Now
Economy
Internet capabilities
Internet sub-culture Sophistication of all players
Costs of startup dramatically lower
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4 Types of EntrepreneursSteve Blank
Small BusinessEntrepreneurship
SocialEntrepreneurship
Large CompanyEntrepreneurship
Scalable StartupEntrepreneurship
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Small Business Entrepreneurship
$2 million, $100k salary to owner
Bootstrapped (capital, own/family)
Profit means the family eats
Overwhelming number of entrepreneurs andstartups in the U.S. are in small businesses
My mother
StartupSmall
Business
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Scalable Startup Entrepreneurship
Start with goal to build a large company
Starts in small offices with an idea
Hunts for profitable business model
Once founded, needs external venture capital to scale andfuel rapid expansion
Accountability, board members, forecasts, other agendas Success is 3X or better ROI via sale or IPO
Aggregates around technology centers
Makes up small percentage of entrepreneurs and startupsBUT attracts almost all the risk capital (and press)
StartupLarge
Company> $100M/year
Transition
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Large CompanyEntrepreneurship
intrapreneurship
Disruptive innovation triggers need to start newdivision
Success is new revenue and profit for parentcompany
Intrapreneur gets paycheck and funding fromlarge company
New Division/Product Line
LargeCompany
Transition
Disruptive Innovation
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SocialEntrepreneurship
Recognizes a social problem, usesentrepreneurial principles to organize, create,and manage a venture to make social change (asocial venture)
Corporate social entrepreneurship is often a for-profit business achieving a social goal and profitat the same time
Businesses meet social need
health care, poverty, education, energy, agriculture, theenvironment
Few if any paid a salary
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Summary
Personal
RiskFinancial Goal
Small Business High Feed the Family
Scalable Startup High Get Rich/Implement Vision
Large Company LowFeed the Family/GetPromoted
Social Moderate Save the World
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Summary
Four different types of Entrepreneurship All searching for sustainable business
model
All types have similar entrepreneurs:resilient, agile, tenacious, passionate
All types require fundamental businessprinciples and practices
Differences include tolerance for personalrisk, size and scale of vision, and personalfinancial goal
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Scalable Startup Entrepreneurship
Covers the most ground mostcomprehensive
You will be ready for the other types
Most bang for the buck! We all have 168 hours per week how do we spend it?
Often low capital requirement, highest exit multiples The marketplace rewards this with higher multiples
We know it well
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Dichotomy emerging inScalable Startups
Traditional
Goal is huge exit
World domination
Lots of capital Spend into building
a business model
Huge business plan
Lean Startup
Reduces waste
Agile development
Customerdevelopment
Existing platforms
Not limited totechnologycompanies
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A Startup is a search for abusiness model
Business Model describes how company creates, deliversand captures value
Diagram showing all the flows between the different partsof the company
How the product gets distributed
How money flows back
Cost structures
How departments and partners interact
Will the business model survive first contact withcustomers?
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Customer Discovery
You must figure out how to conduct extensive outof building Customer Discovery.
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Part of the discovery process isfinding out that something isdoomed.
But, you need to PIVOT and find anew model.
And then test that new model.
PIVOT till you nail it.
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Pivoting
Catastrophic flaws are discovered
Customer reaction
Customer direction
Financial no margins
Plethora of reasons
Pivoting is making course correction
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Scorecard
Osterwalder Business Model canvas could be used forsomething much more than a static planning tool. I realized that it was thelaunch-pad for setting up the hypotheses to test, and a scorecard for visually
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Pivots and Iterations
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What judges want to see
Did you quickly summarize your idea?
Did you articulate the problem?
Did you size the opportunity of solving the problem?
Was your solution clear? (for product companies, this should include
manufacturing and cost of goods) Did you describe demand creation and assign acquisition costs?
Did you describe lifetime value of a customer?
Did you describe distribution channel and assign channel costs?
Did you get out of the building?
Did you tell us what you learned from going out of the building? Did you adequately diagram the business model?
Did you describe the risks?
Did you pivot and how effective was your pivot?
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SAMPLE
(using on a non-software,
non-Internet business)
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BMC Submission
Basic Information
PowerPoint
Audio/Video Recording
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PowerPoint & Diagrams
1. Title Slide: Models must have a slide listing the company name and a breakdown of themanagement team with photos of each person.
2. Problem Slides: Students need to be able to clearly state the problem their company is addressing.Identify a pain in the market. One of the major purposes of the competition is to see if you havetruly NAILED THE PAIN.
3. Pivot Slides: State your initial assumptions and how these assumptions have either been validatedas facts or have changed. Be able to show how you developed your model by working withcustomers. You need to be able to prove your idea. Tell the story!
4. Solution Slides: Explain your solution from your pivoted position.
5. Business Model: Diagram your resources and the costs of developing your product. Break down allyour costs clearly and explain how your company makes money.
6. Sales Ecosystem: Indicate the decision-makers and influencers of getting to a consummated sale.
7. Size of Market: Be able to show TAM, SAM, your target market, and your apex for entry into themarket.
8. Appendices: Appendices should be included only when they support the body of the model. Theseadditional slides need to be available for giving context and for answering questions judges might
have. Because judges might not read all the material in the appendices, the body of the modelmust contain all information pertinent to the model.
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Judging
Identification of a bona fide painsubstantiated by customer discoveryand development (30%)
Presence of true customer discoveryand resulting pivots (as necessary)(35%)
Conclusions from the process of(35%)
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To enter BMC drawings text 22333
with the keyword WINNER, a
space, then your email address.
(This will be left open! You can text
anytime to join our mailing list)
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