Berkeley Entrepreneurship class - Winter 2012

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What is your dream venture?

Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do.

So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails.

Explore. Dream. Discover.

Mark Twain

I have not failed. I've just found 10,000 ways that won't work.

Thomas Edison

What Made Silicon Valley?

Rich People

Innovation

Location, location, location

4 Myths of Entrepreneurship

Unemployable

Must Be World Changing

Must raise $$$

Venture Capitalist (VC) Rules

Do you want to an entrepreneur?

Motivation

Entrepreneurship is living a few years of your life like most people won't, so that you can spend the rest of your life like most people can't.

Steve Job

You are determined.

You are going to do it!

How many of you already have a idea?

Where are all the business ideas & opportunities come from?

Watching TV

Culture

Class / Lecture

Reading a book or blog or magazine

Bad ideas

Fear / Trouble

Friends, Family, People, Potential Customers

Existing Products, Services, Websites

Distribution Channel

Government

Research & Development

Game Time

Step 1: Yell out ~50 random words.

Step 2: Split into 2 teams, each chooses 2 words + ".com” and explain what your website does.

Homework


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Get Ready for Your Pitch

So you have a brilliant idea!

What’s next?

Perhaps…

Develop a product!

Features

Quality

Choices

Warranty & Guarantee

Customer Services

Packaging

Describe the products.

If you only have $100 bucks

If you only have $1000 bucks

If you only have $10,000 bucks

If you only have $100,000 bucks

The Final

How are you going to make money?

How big is your market?

Monopoly

By Usage

By Subscription

By Usage

One Time Fee

Bundled Fee

More Money Stuff

•  Cash Flow- Budget vs. Actual

•  Inventory & Fixed Assets

•  Costs/Profits

•  Taxes

•  Shipping & Handling


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Twitter: edithyeung

Customer Development

The Business Pitch

1. Title

2. Problem

3. Solution

4. Business Model

5. Magic Sauce

6. Marketing and Sales

7. Competition

8. Team

9. Financial Projections

10. Current Status/Timeline

1. Title

Organization name Your name Your title Contact info (email/phone)

2. Problem

Goal: Get buy in.

3. Solution

How are you solving the problem? What is your product? What is your value proposition?

For Example: We are a discount shoe website. We have written software that searches all other show sites and collates their price quotes into one view.

4. Business Model

How you make money? Who pays you? Your channels of distribution Your gross margin

Who will pay you?

Channel: How to deliver your

product?

Retailer/Distributor

Sales Rep

5. Magic Sauce

Magic sauce behind your product or services.

6. Marketing and Sales

How you are going to reach the customers? What is your go to market strategy? What is your customer buying cycle? How much does it cost?

What is your market?

Existing Market

Re-segmented Market


Moo Card

New Market

Bring the love back

7. Competitions

Complete view of competitive landscape.

8. The Team

Management Team Board of Directors Board of Advisors. Major investors.

9. Financial Projection

5-year forecast including revenue, cost, profit, number of customers and conversion rate.

10. Current Status and Timeline

Where are you at? What is the near future looks like? How you will use the seed money? How much money are you raising?

Berkeley Entrepreneurship class - Winter 2012

Business

Transcript of Berkeley Entrepreneurship class - Winter 2012