entrepreneurship boot-camp session 5
TRANSCRIPT
ENTREPRENEURSHIP BOOT-CAMPINSTRUCTOR: VISHAL KIRTI
DATE: MAR. 20,2016
SESSION 5
TIMELINE
• Feb. 21: What is Creativity? What is my Passion?
• Feb. 28: Behavior Traits of a Successful Entrepreneur (Mayor of Livermore- John Marchand, Saratoga
Councilmember- Rishi Kumar)
• Mar. 6: Turning your passion into a business opportunity
• Mar. 13: Steps needed for your startup…1,2,3. GO
• Mar. 20: Financials of the business opportunity (Please sign in)
• Mar. 27: Presentation skills, successful pitches, what ideas got funded
• Apr. 3: No class. Spring Break
• Apr. 10: Basics of App Design
• Apr. 17: Pitch Practice
• Apr. 24: Pitch your business plan to VCs (12 spots will be available)
• A certificate and award for top 3 groups
• Implementation begins. Mentoring offered in the following weekly sessions
THE BASICS OF APP/WEB BUILDING
• Session on April 10th
• Please don’t miss this.
• Here @ Livermore Temple 3-4 pm
BACK UP INSTRUCTORS
• Madhuri Chopurala
• Mallik Bathula
• Thank You
PARENT COACHES PER TEAM
•We need two parents per team
• I will send out a google spreadsheet
• Parents- please write your email/phone/name against the team you
would like to coach
• So far,
• We have 14 teams
• And 14 parent coaches/mentors/leads
• That includes Ajay and Anurag who I haven’t spoken to yet
• We need at least14 more coaches
PITCH DAY- APRIL 24TH
• 10 minutes per team
• 12 spots
• There are currently 14 teams
• Please select one presenter
• Goal is to get feedback on your ideas
BUSINESS PLAN TEMPLATE
• See the Facebook post from me titled “Livermore
announcement”
• Same template across the camps
•Use that for your plan
MODULE 2 METHODOLOGY
• FAQs- http://www.siliconvalleycoders.org/faq.html
• Kids meet every week on Sundays 3-4 pm here.
• Each team presents
• Progress
• Problem Area
• Parent Coaches, Instructors, back up instructors and mentors guide
• The two parent coaches can help facilitate the meetings during the week
• Need to put roughly10 hours/week for implementing
MODULE 3- ANNUAL TECH DAY (JUNE 12)
• 3 winners based on the progress made during the implementation phase
• How are the pitches evaluated at the Silicon Valley Tech Day by the judges panel?
Each presentation is 5 minutes long
There are 5 components to the evaluation:
- Team work and collaboration: Is this team successful because of strong teaming.
- Idea: How "gripping" is the startup idea proposed by the team
- Business Model: Has the team given the business components enough thought
- Product demo: Where is the product today based on the business pitch that was
developed
- Q&A responses: how did the team respond to answering questions
FINANCIALS OF THE BUSINESS OPPORTUNITY
SESSION 5
RECAP
• Creativity & Passion
• Behavior Traits
• Converting Your Passion Into a Business Plan
• Steps- Incorporate, How To Market, Exit Events
• Today- Financials
COST
• Research & Development Cost
• Capital Expenditure- Infrastructure etc.
• COGS- Cost of Goods Sold
• Operations Cost
• (General & Administrative Expense)- G&A- includes salaries of non-sales employees
• Sales & Marketing Cost- includes salaries of sales employees
• Interest
• Taxes
REVENUE
• Different models (eg Apps)
• B2C: App Free (With Advertising)
• B2B: Subscription & Licensing
• B2C: Subscription
• B2C: Paid App
• B2C: Free(With In-App Purchases)
• B2C: Free but special features are paid
EQUATIONS
• Gross Profit= Revenue – COGS
• EBIT (Earnings Before Interest & Taxes)= Gross Profit- Operating Expenses
• Net Income= EBIT – Interest - Taxes
EXAMPLE OF PROFIT & LOSS
PROFIT & LOSS AND BALANCE SHEET
• Profit & Loss (P&L)
• Please project for the next 3 years
• For the 1st year, project quarterly if you can
• Balance Sheet
• How much is a company worth?
• Not needed for the pitch.
• Very important after the company has run for a while
HOMEWORK
• Enter Your Ideas Into: http://tinyurl.com/EnterYourIdea
• Parent Coaches/Mentors- Sign up on the sheet