CREATING KNOWLEDGE ENTREPRENEURS www.gmit.ie/iibc Facebook:InnovationinBusinessCentre 2

Innovation in Business Centre - Galway

CREATING KNOWLEDGE ENTREPRENEURS www.gmit.ie/iibc Facebook:InnovationinBusinessCentre 3

Innovation in Business Centre - Castlebar

Lean Startup @ GMIT

Eight module (set day per week) programme

• 3 hour workshop – Start 9AM (15 minutes Tea/Coffee break at 10.30)

• 1 hour Facilitated Peer Network at 12 Noon • One to one sessions between 2 – 5PM (45 minutes each so cover

group over 2 weeks) • 2 Major Deliverables (templates to be provided)

– Market Validation – Business or Sales & Marketing Plan

Eight Training Modules

1. Business Model Canvas

2. What’s my idea?

3. Market Validation

4. Lean Startup Marketing

5. Making the Sale

6. The Business Plan

7. Financial Projections for your Business Plan + Presenting Skills

8. Making the Pitch

5 Practical exercises in every session

Module 1 – Business Model Canvas

• 9 Building Blocks to examine and define your Business Model (how does your business make money?)

• Clarify how your business creates value

6 Draft your Business Model Canvas

Module 2 – What’s my idea

• The burning problem faced by your Customer

• How to communicate your solution

7 Define your solution and ideal customer

Module 3 – Market Validation

• Ready, Aim, Fire approach to Market Validation ~ …. Understand how to use Secondary and Primary Research to test your market opportunity before you invest significant money in product development.

8 Know your market & talk to customers

Module 4 - Lean Startup Marketing

• The Lean Startup

– Build Measure Learn Feedback loop and the Minimum Viable Product (MVP)

• Invest in Marketing after reach Product Market Fit

ideas

BUILD

Product

MEASURE

data

LEARN

Identify your Engine of Growth

Module 5 – Making the Sale

• Appreciate your Customer’s Buying Cycle

• Sales Process

• Routes to Market

• Skills of Selling

10 Your Sales Pipeline

Module 6 – The business plan

• Use a template – Structure & Layout – Appendices

• Review Sample Plans • Make the Plan Real Plus • One Hour on Legal Issues for

Business (IP, HR etc) • Product /Service

11 Know why you are preparing this plan

Module 7 – Financial Projections • A practical session using a

template for Financial Projections

• Quick view of Enterprise Ireland Financial Data Sheets

• Overview of Supports for Business

Plus • One hour session on

Presentation skills • Product /Service

12 Know your planning assumptions

Cashflow

• Incoming

• Outgoings

Profit & Loss

• Sales

• Costs

• Profits

Balance Sheets

• Assets

• Liabilities

• Capital

Module 8 – Making the Pitch

• All participants to make a ten minute presentation to the Peer Group

• Followed by Q&A

13 Present the business case

Peer Network

• One hour facilitated group session where participants discuss issues relevant to their business – Set Goals

– Commitment to taking action

– Brainstorming and sharing contacts

14 Focus on milestones & targets

One to One Sessions

• Will focus on Business Planning and the Business Plan

• 45 minutes sessions tailored to status of each promoter/ team and business.

15

2. STRATEGY 4. EXECUTION

1. KEY SUCCESS FACTORS

3. TEAM

Value Proposition

Support tailored to you

Google Site

16 Will get instructions and an invite to this site

Deliverables • Participants will be assisted to develop two documents

(templates provided): – Market Validation summary – Business Plan That demonstrates that they have: – The Team (domain knowledge) & – A product solution – That meets a specific identified problem of a cohort of

customers

• such that a sustainable business can be established with ongoing support provided by the Innovation in Business Centres in Galway and Castlebar.

17 Focus on tangible outputs for all parties

Profile of Participants

• The programme is tailored for male and female promoters with an ambition to establish a business which has international market appeal.

• The Lean Startup @ GMIT programme will give participants the opportunity to explore what is involved in starting and running a knowledge based business.

• Enable participants to network with other like-minded individuals. Entrepreneurs with Passion & Commitment

Donncha Hughes Marketing Mentor to Technology Startups and Professional Service SMEs.

• Trainer – e.g. New Frontiers Phase 1 in GMIT & Phase 1 & II in DKIT

• Areas of Expertise – Marketing, Sales, Business Plans, R&D Applications, Growing your business

• Mentor – Enterprise Boards, Enterprise Ireland, LEADER • Former Manager of LIT’s Enterprise Acceleration Centre

• 3 HPSUs created in my 4 years who created a total of 30 jobs.

• Designed and launched the LEAP Programme. • Prior to joining LIT I worked for 7.5 years with IBEC.

www.startuphughes.com www.startuphughes.com/blog

Any questions

donncha@startuphughes.com

googlesite.startuphughes.com