asher epstein at presentense 2008
DESCRIPTION
TRANSCRIPT
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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
