Home Uncategorized 3-5 page assignment

Uncategorized

3-5 page assignment

I CHOSE KYLIE JENNER (entrepreneur of Kylie Cosmetics)

This is an opportunity for students to conduct research on an entrepreneur and write a profile of the success story of the person. This can be achieved by interview or archival research. In other words, you may choose to collect data on the entrepreneur’s path to success by personal interview or by secondary resources from library, magazine, Internet, television or movie.

This is a three- to five-page assignment; format should follow font sized 12, single spaced and one inch margin surround rules.

Students must include:

1. Information on industry, competitors and market trend of the entrepreneur’s background and the context of their venture, and concepts from class (e.g. Elevator Pitch, the 10x rule, the Scurve, competitive advantage, suboptimal opportunity spotting, etc.). Conclude the research report with your key learning from this person and the new venture. Did you think strategies implemented by this entrepreneur were effective or not? State your rationale.

2. Students will be graded on how well they integrate course content into the biography. Students must highlight each concept they use in yellow. If a concept is not highlighted, then the students accept the risk that such concept will not be included in their grade. Assignments must be submitted to D2L by the deadline listed.

ASSIGNMENT CAVEAT (The essay MUST):

1. Be a product of the student’s original work and effort and not previously or concurrently been written or presented as part of any other course taken at Ryerson or elsewhere.

2. If it is not, then a grade of zero will be given (even retroactively) and it will be construed and recorded as academic misconduct in the student’s file.

NOTE:

All assignments must include footnotes and other relevant citations in the proper academic form.

ENTREPRENEUR BIOGRAPHY ASSIGNMENT (15%)

(I chose Kylie Jenner as an entrepreneur) https://www.google.com/search?q=kylie+jenner&oq=kylie+jenner&aqs=chrome..69i57j0l4j69i60l3.1460j0j9&sourceid=chrome&ie=UTF-8

This is a three- to five-page assignment; format should follow font sized 12, single spaced and one inch margin surround rules.

Students must include:

ASSIGNMENT CAVEAT (The essay MUST):

1. Be a product of the student’s original work and effort and not previously or concurrently been written or presented as part of any other course taken at Ryerson or elsewhere.

2. If it is not, then a grade of zero will be given (even retroactively) and it will be construed and recorded as academic misconduct in the student’s file.

NOTE:

All assignments must include footnotes and other relevant citations in the proper academic form.

Welcome to
Understanding your Business Model
Ent 526  Winter 2020

Dr. Sean Wise, BA LLB MBA PhD

TRSM 2-076

Sean.Wise@Ryerson.ca

Entrepreneur
Startup
SME
Opportunity
Scalability
The Purple cow
The Timmons Model
Adversity Quotient
Internal Locus of Control
Creative Destruction

Last 2 Weeks

3
Definition of entrepreneurship
An entrepreneur is the person who destroys the existing economic order by introducing new products and services, by introducing new methods of production, by creating new forms of organization, or by exploiting new raw materials. Creative Destruction.
Schumpeter
An entrepreneur is the person who perceives an opportunity and creates an organization to pursue it.
Simpler

The Entrepreneurship Process

What do all Great Entrepreneurs have in common?
Internal Locus of Control
High Adversity Quotients
Post Facto Success
Actions lead to creative destruction
Found 10x Solutions
Had huge $$$$ exit

5
Climbers

Campers

Quitters

The Purple Cow exercise

7
Idea Multiplication aka Double Dipping
Build Once.
Sell Twice.
Monetize Three times.
e.g. Lady Gaga
Sells her songs on itunes
Sells concert tickets
Releases a line of clothing
Releases a fragrance

This Week
Lecture:
What is a Business Model?
Business Model vs Business Plan
Business Model Canvas vs Lean Canvas
Entrepreneurial Strategies: First mover myth; Long Tail theory; SWIPE strategy; Beachheads

Readings:
ENT pg 130-147, Fig 4.2
http://www.businessmodelgeneration.com/canvas/bmc

Exercise:
Crafting a Business Model Canvas for Amazon, Facebook & Netflix
Video:
Business Model Canvas Explained https://www.youtube.com/watch?v=QoAOzMTLP5s
Making a Canvas https://www.youtube.com/watch?v=s-TWYN6F6LU
Home Depot case

Video: The Naked Entrepreneur: John Sleeman

9
Today’s Key Concepts
Def’n of Opportunity
Difference between an Idea and an Opportunity
4 Characteristics of an opportunity
Where can you look for great Opportunities
How can you turn an Idea into an Opportunity?
How can you make an Opportunity better?
Lean Startup
Customer Development
Market Testing
Pivots
Idea multiplication
TAM
S curve and the Window of Opportunity
ARPU > COCA
10x Rule
Unique Value Proposition
Defensible Competitive Advantage

10
Finding Success
In entrepreneurship, as in any other profession, luck is where preparation and opportunity meet
The crucial ingredients for entrepreneurial success are a superb entrepreneur with a first-rate management team and an excellent market opportunity.

11
What’s an Opportunity?
“The very best startup ideas tend to have three things in common: they’re something the founders themselves want, that they themselves can build, and that few others realize are worth doing. Microsoft, Apple, Yahoo, Google, and Facebook all began this way.”
Paul Graham
Y Combinator

12
4 Key Characteristics of an Opportunity
Timely (the market is ready)
Durable (will last long enough to generate ROI)
Attractive (Huge Profit Potential
Customer Centric (solves a real pain)

13
Other Things to Look For
ARPU > COCA
10x Rule
Unique Value Proposition
Defensible Competitive Advantage
Larger and Growing Market (CAGR)
Access to Customers
Access to needed Resources

Make sure you are Right for the Opportunity
Successful founders are obsessed with the industry, customer and opportunity (would do this even without pay)
Successful founders have access to Early Adopters (those already spending resources (time & money) to solve the unmet market need
Successful founders have unique insight into the industry, customer and opporunity

15
Your Opportunity
Your Opportunity

15
Access to Customers

10X advantage

Domain Knowledge

16
Customer Development
Get out of the Building
Customer Development: finding your customers “in the wild” and understanding how they really use your product. Steve Blank
Customer development is the process of identifying, finding and talking to your customers to validate the assumptions you’ve made about your business.
“At an abstract level, Customer Development is simply about questioning your core business assumptions.” Brant Cooper and Patrick Vlaskovits
“Customer Development is a four-step framework to discover and validate that you have identified the market for your product, built the right product features that solve customers’ needs, tested the correct methods for acquiring and converting customers, and deployed the right resources to scale the business.”
21st Century
Entrepreneurship

17
Customer Development
Steve Blank
21st Century
Entrepreneurship

18
Customer Development

19
What About Timing?
As of 2009

20
5 Steps to Opportunity Evalution
Figure 3.14

21
The Changing Process
20th Century 21st Century
Build in Secret Go to customers early and often
Only focus group in Secret Share, share, share
Only have 1 chance to make a first impression of customers Name it BETA and let customers shape it
Engineering Driven Customer Driven

21st Century
Entrepreneurship

But won’t they steal my idea…

Secret vs Share
Ideas are a dime a dozen; it’s the execution that will set you apart from the rest.
Myth #1: “I Should Save My Startup Idea Until It’s Refined”
You should share your idea with everyone you meet.
By sharing your idea with as many people as possible, you can get feedback early on to prevent wasting time on an idea that won’t sell.
Myth #2: “My Startup Idea Is Too Unique To Be Shared”
Then you either don’t know how to google or your idea is so wacky no one else has
Myth #3: “People will steal My Startup Idea If I Tell Them What It Is”
But they can’t steal your passion, insight and execution
The reality is for those talented enough to build your idea, they are busy enough focusing on things they already care about and want to work on.
your potential competitors are more likely to become partners.
You should embrace real feedback, embrace learning early, embrace building a list of real users and customers for day one. When you do, you’re going to be much more successful, and you’re going to hit the ground running that much faster.

24
The Changing Process
21st Century
Entrepreneurship

25
Recap
All opportunities start with an idea, but it takes execution to generate wealth
Four key elements of an Opportunity: Durable, Timely, Attractive, Customer-centric
There should be an established and growing market
Entrepreneur should have passion for the idea and know the customer
Reach customer better than the competition can
Four favorable elements: customer, competitors, suppliers and government
BUILD – TEST – LEARN
Customer Development & Lean Startup Methods facilitate releasing early and often in order to engage customers early and often

Business Models
Business Model vs Business Plan
Business Plan vs Business Model Canvas
Business Model Canvas Explained https://
www.youtube.com/watch?v=QoAOzMTLP5s
Making a Canvas: https
://www.youtube.com/watch?v=obX5yjFWnIM
BMC vs Lean Startup Canvas https
://www.youtube.com/watch?v=s-TWYN6F6L

27
What’s a business model?
A business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts.
Business model = revenue model – cost model
The revenue model breaks down all the sources of revenue that your business will generate.
The cost model identifies how you are spending your resources to make money. It includes your cost of goods sold (COGS) and your operating expenses.
Business Model has 9 components

Create your business model

Business Model

Cost Model

Cost of Goods Sold

Operating Expenses

Revenue Model

Sources of Revenue

29
9 Parts of a Business Model

31
Business Model Canvas

32
Business Model Canvas: Amazon

33
Business Model Canvas: Netflix

34
Business Model Canvas

Testing the Business Model

37
Lean Startup Canvas

Let’s do one together
Let’s create a Lean Canvas for UBER

Hypothesis Testing

42
Key Concepts
Def’n of Opportunity
Difference between an Idea and an Opportunity
4 Characteristics of an opportunity
Where can you look for great Opportunities
How can you turn an Idea into an Opportunity?
How can you make an Opportunity better?
Lean Startup
Customer Development
Market Testing
Pivots
Idea multiplication
TAM
S curve and the Window of Opportunity
Rogers Adoption Curve
ARPU > COCA
10x Rule
Unique Value Proposition
Defensible Competitive Advantage

43
Case of the Day

Dr. Sean Wise, BA LLB MBA PhD
TRSM 2-076
Sean.Wise@Ryerson.ca

Welcome to
21st Century Entrepreneurship
 Ent 526  Winter 2018  Week 4 

Dr. Sean Wise, BA LLB MBA PhD

TRSM 2-076

Sean.Wise@Ryerson.ca

2
Last week’s Key Concepts
Def’n of Opportunity
Difference between an Idea and an Opportunity
4 Characteristics of an opportunity
How can you turn an Idea into an Opportunity?
How can you make an Opportunity better?
Lean Startup
Customer Development
Market Testing
Pivots
Idea multiplication
ARPU > COCA
10x Rule
Unique Value Proposition
Defensible Competitive Advantage
Missed: Where to find great opportunities?

3
Finding Success
In entrepreneurship, as in any other profession, luck is where preparation and opportunity meet
The crucial ingredients for entrepreneurial success are a superb entrepreneur with a first-rate management team and an excellent market opportunity.

The Entrepreneurship Process

5
4 Key Characteristics of an Opportunity
Timely (the market is ready)
Durable (will last long enough to generate ROI)
Attractive (Huge Profit Potential
Customer Centric (solves a real pain)

6
Other Things to Look For
ARPU > COCA
10x Rule
Unique Value Proposition
Defensible Competitive Advantage
Larger and Growing Market (CAGR)
Access to Customers
Access to needed Resources

7
Your Opportunity
Your Opportunity

7
Access to Customers

10X advantage

Domain Knowledge

8
Idea Multiplication aka Double Dipping
Build Once.
Sell Twice.
Monetize Three times.
e.g. Lady Gaga
Sells her songs on itunes
Sells concert tickets
Releases a line of clothing
Releases a fragrance

9
Customer Development
Customer Development: finding your customers “in the wild” and understanding how they really use your product. Steve Blank
Customer development is the process of identifying, finding and talking to your customers to validate the assumptions you’ve made about your business.
“Customer Development is a four-step framework to discover and validate that you have identified the market for your product, built the right product features that solve customers’ needs, tested the correct methods for acquiring and converting customers, and deployed the right resources to scale the business.”
21st Century
Entrepreneurship

10
Customer Development
Steve Blank
21st Century
Entrepreneurship

11
Opportunity Development

This Week
Lecture:
Where can you look for great Opportunities
Changes in entrepreneurship
Lean Startup Methodology
The Startup Life Cycle
The S Curve: Problem/Solution fit, Product/Market Fit, Scale
Lean Canvas
Falsifiable Hypotheses
A/B Testing

Readings:
ENT pg 10-21, Fig 4.3 & pg 304-305
The Lean Startup http://steveblank.com/2013/05/06/free-reprints-of-why-the-lean-startup-changes-everything/
Falsifiable Hypotheses: http://www.instigatorblog.com/good-hypotheses/2011/05/05/

Exercise:
Writing hypothesis & how to test them

Video:
Steve Blank: How to Build a Great Company http://www.youtube.com/watch?v=1RTcXwJuCaU
Steve Blank, Evidence-based Entrepreneurship http://www.youtube.com/watch?v=zjvEanpktEo
Into to the Lean Startup https://www.youtube.com/watch?v=jBlrLqsjIDw
Steve Blank, 2 minute lessons, http://steveblank.com/category/2-minute-lessons/
Eric Reis, The Lean Startup http://www.youtube.com/watch?v=txbt7eDdBF8

Where do you find opportunities?
Unmet market needs of large and growing customer segment can be addressed 10x with new tech, new innovations, new business models.
So what causes unmet market needs?
CHANGE
!!!!!

https
://www.oreilly.com/library/view/startup-opportunities-2nd/9781119378181
/

Where to find great opportunities?
Entrepreneurial activity is the source of innovation in an economy.
But where do the opportunities come from?
Joseph Alois Schumpeter

But where do the opportunities come from?

Where to find great opportunities?
Internal
The unexpected – the unexpected success, the unexpected failure, the unexpected outside event
The incongruity – between reality as it actually is and reality as it is assumed to be or as it “ought to be”
Innovation based on process need; any inadequacy in a business process that is taken for granted
Changes in industry structure or market structure that catch everyone unawares
External
Demographic changes caused by things like wars, migrations, medical developments
Changes in perception and fashion brought about by changes in the economy
Changes in awareness caused by new knowledge
Generalizing
Technological Change
Demographic Change
Market demand in general and fashions in particular
changes in policy regime and changes in the law
SWIPE, look to other innovations that became big opportunities

Where to find great opportunities?
Product Hunt surfaces the best new products, every day.
It’s a place for product-loving enthusiasts to share and geek out about the latest mobile apps, websites, hardware projects, and tech creations.
https://www.producthunt.com
/

This Week’s Concepts
21st Century Entrepreneurship
The Lean Startup Methodology
Customer Development
Business Model Canvas
Lean Canvas
Build/Measure/Learn
Hypothesis Design
Hypothesis Testing
A/B Testing
The Startup Life Cycle
The S Curve:
Problem/Solution fit,
Product/Market Fit
Scale

20
The Changing Process
20th Century 21st Century
Build in Secret Go to customers early and often
Only focus group in Secret Share, share, share
Only have 1 chance to make a first impression of customers Name it BETA and let customers shape it
Engineering Driven Customer Driven

21st Century
Entrepreneurship

21
What’s a business model?
A business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts.
Business model = revenue model – cost model
The revenue model breaks down all the sources of revenue that your business will generate.
The cost model identifies how you are spending your resources to make money. It includes your cost of goods sold (COGS) and your operating expenses.
Business Model has 9 components

22
9 Parts of a Business Model

24
Business Model Canvas

25
Business Model Canvas

26
Lean Startup Canvas

Lean Canvas Examples
https://leanstack.com/leancanvas

https
://railsware.com/blog/5-lean-canvas-examples/

How you use the Lean Canvas?
How do you know what to put in the boxes?
How do you prove what is in the boxes is true?
What third party arms length DATA (evidence) do you need?
3 Steps to the Lean Startup:
Assumption Experiment Pivot, Punt or Perserve
Build – Measure – Learn

Create your business model

Business Model

Cost Model

Cost of Goods Sold

Operating Expenses

Revenue Model

Sources of Revenue

Hypothesis Testing

Hypothesis Testing
A hypothesis is a way of taking a scientific question and turning it into testable prediction.
A good hypothesis is important because it leads to good experimental design. Good experimental design is important because you need it to properly validate or invalidate what you’re doing.
“What is the simplest thing we could do here to prove our hypothesis?”
The key outcome of an experimental approach is measurable evidence and learning.

Hypothesis Testing
The basic structure is this:
I believe [target market] will [do this action / use this solution] for [this reason].
A good hypothesis must be:
Written down in advance
Be written in the negative
Be testable
Be quantifiable

Hypothesis Testing

Hypothesis Testing
Examples:
U.S.-based investors will read NextMontreal on a regular basis because they have a growing interest in the Montreal startup ecosystem.
I believe that people would want to download their content to have a separate place in case of being audited or canceling an online service.
More people would catch the train if they got an SMS message 15 minutes before they needed to leave.
If we add logos of our existing customers to our landing page, it will convey trust as a key value proposition to Bernie, our customer persona, and he will sign up.
Potential partners will fill out a lead sheet when they view a partner page explaining our 3 key value propositions.
Customers are only willing to pay a max price for a hotel based on the time of day they book.

A/B Testing
A/B testing (sometimes called split testing) is comparing two versions of a web page to see which one performs better. You compare two web pages by showing the two variants (let’s call them A and B) to similar visitors at the same time. The one that gives a better conversion rate, wins!

A/B Testing

Lean Startup Methodology

The Startup Lifecycle

The S Curve:

The Startup Life Cycle

Customer Discovery
Goal is to Achieve Problem/Solution Fit
Problem/Solution fit means you answer: Does this Problem exist? And can I Solve it?
Customer Validation
Goal is to Achieve Product/Market Fit
Product/Market fit means being in a good market with a product that can satisfy that market
Achieving Product/Market fit requires at least 40% of users saying they would be “very disappointed” without your product.
Customer Creation – Drive Demand
Company Building – Scale the Company

Key Inflection Points

Key Inflection Points
MVP
Problem Solution Fit
Product Market Fit
Scale

The Startup Life Cycle

The S Curve:

Product Market Fit Scale now
(LTV > COCA)
Problem Solution Fit

The Story of Uber

https://
www.youtube.com/watch?v=rQ6GoY2_Ujw

Tesla Story
https://
www.youtube.com/watch?v=su96z_Ski9w

Dr. Sean Wise, BA LLB MBA PhD
TRSM 2-076
Sean.Wise@Ryerson.ca

Welcome to
Elevator Pitches, Business Plans & Investor Decks
 Ent 526  Winter 2019  Week 5

Dr. Sean Wise, BA LLB MBA PhD

TRSM 2-076

Sean.Wise@Ryerson.ca

Last Week’s Concepts
21st Century Entrepreneurship
The Lean Startup Methodology
Customer Development
Business Plans
Business Model Canvas
Lean Canvas
Build/Measure/Learn
The Lifecycle of a startup
S curve
Problem Solution Fit
Product Market Fit
Creating a Lean Canvas for: uber, amazon, google search, tinder, etc.
Not yet covered:
Hypothesis Design
Hypothesis Testing
A/B Testing

#1 Cause behind changes in Entrepreneurship?

#1 Cause behind changes in Entrepreneusnhip?

5
The Changing Process
20th Century 21st Century
Build in Secret Go to customers early and often
Only focus group in Secret Share, share, share
Only have 1 chance to make a first impression of customers Name it BETA and let customers shape it
Engineering Driven Customer Driven

21st Century
Entrepreneurship

Keys to 21st Century Entrepreneurship
Get out of the Building
Done today, beats perfect tomorrow
Build Measure Learn
Share, Share, Share
Launch early and iterate often
Customers before Investors
Show Don’t Tell

7
What’s a business model?
A business model describes the rationale of how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts.
Business model = revenue model – cost model
The revenue model breaks down all the sources of revenue that your business will generate.
The cost model identifies how you are spending your resources to make money. It includes your cost of goods sold (COGS) and your operating expenses.
Business Model has 9 components

8
9 Parts of a Business Model

Lean Canvas

You need to be able to fill in a Lean Canvas for:
Google
Facebook
Netflix
Uber http://
www.tomersagi.com/blog/2015/5/8/what-would-ubers-business-model-look
Tinder
Wikipedia

Hypothesis Testing

Lean Startup Methodology

Hypothesis Testing

Hypothesis Testing
The basic structure is this:
I believe [target market] will not [do this action / use this solution] for [this reason].
A good hypothesis must be:
Written down in advance
Be falsifiable Is there a test after which the hypothesis could turn out to be wrong? If not, it’s not a falsifiable hypothesis or in other words: It’s not really a hypothesis
Be testable
Be quantifiable

Hypothesis Testing
Examples:
I believe that East Coast U.S.-based investors will read at least one article per week on NextMontreal because they have a growing interest in the Montreal startup ecosystem.
I believe that people will not want to download their content to have a separate place in case of being audited or canceling an online service.
More people would catch the train if they got an SMS message 15 minutes before they needed to leave.
If we add logos of our existing customers to our landing page, it will convey trust as a key value proposition to Bernie, our customer persona, and he will sign up.
Potential partners will not be willing to fill out a lead sheet when they view a partner page explaining our 3 key value propositions.
Customers are only willing to pay a max price for a hotel based on the time of day they book.

A/B Testing

The Startup Lifecycle

Key Inflection Points

The S Curve:

The Startup Life Cycle

Key Inflection Points
MVP
Problem Solution Fit
Product Market Fit
Scale

The Startup Life Cycle

The S Curve:

Product Market Fit Scale now
(LTV > COCA)
Problem Solution Fit

The Story of Uber
https://
www.youtube.com/watch?v=horKATZh4-8

This Week
Lecture:
The Elevator Pitch
The Executive Summary
Business Plans
Business Plans vs Lean Canvas
Investor Decks
KPIs and Pirate Metrics

Readings:
ENT pg 285-302
The Art of the Pitch, Chapter 3, The Art of the Start, Guy Kawasaki, (BB)
10 magic slides http://www.marsdd.com/mars-library/how-to-create-a-pitch-deck-for-investors/
Investor Decks http://blog.pickcrew.com/the-investor-presentation-we-used-to-raise-2-million/
How to Write a Business Plan, Sahlman, HBS (BB)
The 10/20/30 Rule http://blog.guykawasaki.com/2005/12/the_102030_rule.html
The Executive Summary (BB)

Exercise:
Crafting elevator pitches for Netflix, Google & Wikipedia

This Week’s Concepts
Business Plan
Business Plans vs Business Canvases vs Lean Canvases
Elevator Pitching
Back of the Napkin Diagram (BoND)
KPIs
Pirate Metrics
Show don’t Tell
UVP

It is a small investment in time and cost when compared to the time and cost of starting a business.
It forces the entrepreneur to think critically about all aspects of the business venture.
It can later be used as a benchmark to monitor the progress of the business.
“Plans are nothing, but planning is everything” – GEN Dwight D. Eisenhower
You need a business plan

***new slide***
35

Many established ventures use business model canvas instead of a business plan. Many startups use a lean startup canvas not a business plan
So why write one?
Helps stakeholders align.
It forces the entrepreneur to think critically about all aspects of the business venture.
It can later be used as a benchmark to monitor the progress of the business.
Not the paper, but the ideas that matter.
“No plan survives first contact with customer” Steve Blank
Wait! No one reads a business plan

***new slide***
36

Start business planning when starting to think about a new venture
Organize information into topic areas
Focus on critical aspects of the business model and follow basic/common plan formats
Keep in mind—the business plan is a “living document.” It will continue to evolve as you progress.
Business planning is a continuous process

How will stakeholders interpret your plan?
A tagline creates a unifying plot line that organizes your thinking
Keep your plan as close to the “general format” as possible
Your plan should flow like a story

What is your primary reason for starting a business?
What are some personal objectives you have for the business?
Is the Industry growing or declining? How do you know and where will the industry be in 5 years?
What are the past, present and future industry rends?
Have you anticipated technological changes? How will technology affect the business?
In geographic terms, how large is the market area you intend to serve with your product or services?
What percentage of the market share do you hope to obtain in each of the first three years? How are you going to capture it?
Who are you major potential business customers? Where are they located? How often will they buy your product or service?
Do you know the strength and weaknesses or advantages and disadvantages of your competition?
What will be the image if your business?
How much will it cost you to acquire one customer? How much profit will you make from that one customer? How long will that customer remain a customer?
What do readers want to know?

The 9 parts of the Business Model
The milestones you have hit so far
What you will do with the money, what KPIs will be hit, by when?
Why you? your team?
What is the UVP?
What is the defensible competitive advantage?
Who else is committed?
What stage is the business at? MVP? Product/Market Fit
What do investors really want to know?

People –Who are the people behind the venture? Can they successfully build a company?
Pain – The bigger the “pain” the company is solving, the better
Product – Is the product or service 10 times better, 10 times faster, 10 times cheaper.
Placement (industry) – Is the cumulative annual growth rate (CAGR) of the industry > 25%
Go to market Plan – Is the plan reasonable, not right
Pitch – Is the pitch clear, confident and concise
Proposal – Is the reward worth the risk
The 7 Ps

Your plan should cover 8 main areas

Executive Summary

Operations

Marketing Plan

Team

Develop-ment Plan

Critical Risks

Company/ Product Description

Industry/ Competitor Analysis

Financial Plan

Appendix

Start with your Business Model Canvas

Elevator Pitch = Customer Pain + Startup Solution
Must be:
Irrefutable – the pain statement should not be subjective
Greed Inducing – should illustrate how an investor can make money
Easily Understandable – simple enough that both an investor and your Grandmother
Succinct – short enough to be said in 3 to 4 sentences or 1 to 2 minutes
http://
www.youtube.com/watch?v=Tq0tan49rmc

The elevator pitch

One person’s trash is another’s treasure. Our online global garage sale brings together buyers and sellers from around the world through our proprietary trust-based platform.
Not everyone can afford US$1000+ to access information. Our online platform offers encyclopedic knowledge, available on demand, in the cloud, 24/7 and free. We are 100 x larger than the Encyclopedia Britannica and growing exponentially. Our content is updated by thousands of editors daily. We are the world’s largest repository of human knowledge.

Elevator pitch samples

Unique Value Proposition
UVP is a clear statement that describes the benefit of your offer, how you solve your customer’s needs and what distinguishes you from the competition.
value proposition is a clear statement that
explains how your product solves customers’ problems or improves their situation (relevancy),
delivers specific benefits (quantified value),
tells the ideal customer why they should buy from you and not from the competition (unique differentiation).
A key part of your Elevator Pitch

UVP Sample

Investor Decks: Keys
10/20/30 Rule of Powerpoint
No more than 10 Slides
No more than 20 minutes
No less than 30 point font

Investor Decks: 10 magic slides
Problem
Your solution
Business model
Underlying magic/technology
Marketing and sales
Competition
Team
Projections, milestones & traction
Status and timeline
Summary and call to action

https://
slidebean.com/blog/startups/pitch-deck-examples

One Rule for all Tools?
Use objective numbers not subjective opinion to validate your positions
Always provide 3rd Party evidence
Always focus on KPIs

Show vs Tell
People love us
vs

55
Key Performance Indicators
KPIs are like vital statistics (e.g. Blood pressure) for your venture
KPIs for a growing organization should be as simple and inexpensive to track as possible, while providing information leading to better decision making.
Stratup metrics fall into five groups:
financial, user, acquisition, sales, and marketing.

56
AARRRrrrrrrr

57
Pirate Metrics

58
Other Key Performance Indicators
Customer Acquisition Costs (CAC) – COCA, equal to your sales and marketing expenses divided by the # of customers
Customer Retention – % of new customers that stay
Life Time Value (LTV) – ARPU, how much one customer is worth to your company.
Product Metabolism – how quickly your team makes decisions and rolls out updates to your products
Viral Coefficient – measures your initial customers and the number of invites they send out
Revenue – $$$
Conversion Rate – activation rate, a measure of the # of visitors who become customers

Dr. Sean Wise, BA LLB MBA PhD
TRSM 2-076
Sean.Wise@Ryerson.ca

Turn in your highest-quality paper
Get a qualified writer to help you with

“ 3-5 page assignment ”

Get high-quality paper

NEW! AI matching with writer

Hire a Writer

Client Reviews

4.9

Sitejabber

4.6

Trustpilot

4.8

Our Guarantees

100% Confidentiality

Information about customers is confidential and never disclosed to third parties.

Original Writing

We complete all papers from scratch. You can get a plagiarism report.

Timely Delivery

No missed deadlines – 97% of assignments are completed in time.

Money Back

If you're confident that a writer didn't follow your order details, ask for a refund.

New to Your Trusted Assignment Help Service? Sign up & Save

Calculate the price of your order

Type of paper needed:

Pages:

You will get a personal manager and a discount.

Academic level:

We'll send you the first draft for approval by at

Total price:

$0.00

Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.

Power up Your Study Success with Experts We’ve Got Your Back.

Order Now Order Now