Augusto Coppola Business Plan-innovation-lab

Augusto Coppolaco-founder & CEO

ERIS4

Elementi di un Business PlanTeoria e pratica per Innovation Lab 2010

I contenuti di questa presentazione sono liberamente riproducibili laddove si citi la fonte (Augusto Coppola, se non diversamente indicato) e non ci siano fini di lucro

Agenda

• Qualche utile avvertenza, ovveroNulla di nobile può essere fatto senza rischio (Montaigne)

• Business Plan Foundations, ovveroPlan is nothing. Planning is everything (D. Eisenhower)

• Innovation Lab Gran Finale, ovveroAscolto e dimentico. Guardo e ricordo. Faccio ed imparo (proverbio cinese)

• Qualche risorsa web, ovveroL’inizio è la metà di tutto (Platone)

• Q&ACi sono persone che non riconoscerebbero una opportunità neanche se

questa si alzasse in piedi e li prendesse a schiaffi (Anonimo)

1. Qualche utile avvertenza

Tao k’o tao, fei ch’ang tao(La via che è la Via, non è la vera via)(Lao Tsu)

I took a course in speed reading and was able to read War and Peace in 20 minutes. It's about Russia(W. Allen)

We don’t like their sound. Groups of guitars are on the way out(Decca Records rejecting the Beatles, 1962)

Da figli si capisce poco. Da genitori si cerca di insegnarequello che non si capiva da figli(G. Trapattoni)

2. Business Plan Foundations

Nothing will ever be attempted if all possible objections must be first overcome(S. Johnson)

Three short tales:A lazy lawyer, a wealthy saddler and the Mr Wang’s myopia

Vision & Mission

Two key questions about your business:- Why?- What?

VisionMission

Market/society trendsMarket Need

Vision Market Company Value

Mission Value Proposition

Technical MarketingProduct Strategy

• Where are the founders from?

• What have they accomplished in the past?

• What is their reputation?

• Whom do they know?

• Who else needs to be on the team?

• Are they prepared to recruit high-quality people?

• How realistic are they about the venture chances?

• How will they respond to adversity?

• Do they have the mettle to make the inevitable hard choices that have to be made?

• How committed are they to this venture?

• What are their motivations?

You need to work from day 1 on a strategy to make your team stronger!

Questions about Founders and Management Team

There can be no friendship without confidence, and no confidence without integrity(S. Johnson)

Team roles should be clearly and explicitly agreed- Team dynamics should be known- Investors and customers are critical factors- What happen if ...? should be deeply discussed

Advisor/influencer motivations and reputation should be ruthless scrutinized by the founders

Founders and Management Team

Customers

I often went fishing up in Maine in the summer. Now, I am very fond of strawberries and cream, but I have found that, for some strange reason, fishes prefer worms(D. Carnegie)

Market structure has to be carefully considered

• Average expenditure for customer type and location• How such an expenditure is structured • Market share, revenue and profit of largest players• Average profit in the market• Average company size in the market• M&A dynamics

Marketing

Law of LeadershipIt’s better to be first than it is to be better

Law of CategoryIf you can’t be first in a category, set up a new category you can be first in

Law of AttributesFor every attribute, there is an opposite, effective attribute

Law of the MindIt’s better to be first in the mind than to be first in the marketplace(Ries, Trout - The 22 Immutable Laws of Marketing)

STOP

Please bring your vehicle to a speed not exceeding zero miles per hour at this coordinate in space and time as there is other vehicular traffic moving in a direction perpendicular to your own and may intersect with your vehicle’s current trajectory

What’s easier to understand?

Keep it simple:- VCs are overwhelmed by business plans- You need to catch their attention in a very short time- Don’t assume they understand your technology- Don’t assume they know your business domain

Investors

Investors (VCs, in particular) might have preferences- Geographic preferences- Sector preferences- Stage preferences- Investment size preferences- Exit preferences

Do not waste your time with wrong investors

Investors needs to rapidly know the exit strategy

Show them the money. QUICKLY!

Make them dreaming!

Investors

Stupidest (and quite classical) things you can write

• We are addressing a huge market of €100M

• We are targeting revenue for €5M within 5 years

• The market size is €10B. We have an unparalleled technology and an incredible business proposition. With a very conservative forecast we can target a 5% market share, then we will get €500M

• We have no competition

• We need €250k to breakeven in 18 months

A few questions to be answered for Innovation Lab

• Are we addressing a growing market? Can we prove it?

• Are we addressing a real market need? Do we really know where our target clients are and how they behave?

• Do we understand how to develop our idea? What about the technology? Marketing?

• Are we able to jot down a credible 6/12 months budget?

• Can our business idea generate enough revenue to attract professional investors? Or do we need an industrial partner?

• Is our presentation short, clear and focused?

Innovation Lab Gran Finale

Cominciate col fare ciò che è necessario, poi ciò che potete. E all'improvviso vi sorprenderete a fare l'impossibile(San Francesco)

Due domande chiave ed un ovvio consiglio

Cosa vendono?Come fanno i soldi?

Vendete i vostri punti di forza

• Business Idea Executive Summary (1 pagina, 500 parole)

• Elevator pitch (60 secondi, 150 parole)

• Presentazione di 7 minuti

• PowerPoint slides e/o

• Video e/o

• Demo

• Logo, tag line, foto e 1 (una) riga di gentle remind

Packaging Completo

Attenzione!- Executive Summary in inglese e formato PDF- Presentazione effettuata in italiano, ma con slides in inglese- Elevator pitch in italiano (opzionale in inglese)- Video in italiano (opzionale in inglese)- Demo in inglese

Executive Summary – 1: Vision & Mission

Market- Utilizzate termini conosciuti- Descrivete l’evoluzione che rende il mercato attraente

Mission- Tipo di prodotto/servizio- Clienti- Market need

Company / Business Idea Name

Executive Summary – 2: Chi e dove siete

Chi siete- Vendere quello che è significativo- Siate molto brevi

Contact Name/emailTelephone/Skype

A che punto siete?- Clienti?- Ambiente demo?- Qualche altra prova della vostra idea?

Fatevi trovare!

Competition- Nomi

Competitive Advantage- Tecnico, commerciale, mentalità, ...- Window opportunity- Eventualmente usate un grafico

Executive Summary – 3: Market Data

Internazionalization / Expansion- Dove volete fare business- Come volete fare business- (Opzionale) Perché questa strategia?

Market Opportunity- Size and CAGR- Mostrate perché

Executive Summary – 4: Financial Data

Indicate chiaramente:- Quanti soldi volete- Entro quanto li volete- Per fare cosa

Use of Proceeds- Siate quantitativi

(Usata dei Reference Data se disponibili)

I am Ciccio Paduccio, co-founder and CTO of QQ7.

QQ7 is developing a software for meeting the need to discover in real-time web page updates and correlate them with the information coming from the financial market

By correlating virtually any web update with the information flowing on the main financial networks, we can reduce the investment risk for individual brokers and institutions up to 75%.

The market we are addressing is worth more than €37B and is growing at CAGR exceeding 22%

We have a demo environment of our technology and are seeking 100k€ to implement a ten months plan to develop the alpha version, strengthen our team and get ready for the series A

Esempio di elevator pitch per una seed company (a 60 seconds/120 words example):

• Master slide con uno stile piacevole

• Poche e coerenti animazioni, colori, stili di scrittura

• 5 + 2 (slide) = 7 (minuti)

• Font 24+

• Verifica di stampa in bianco e nero

• Aspetti grafici vincono sui testi

• Titolo e take away line

• Uso bilanciato dello spazio

PowerPoint Slides

• Esempio di Presentation Outline

• Slide # 1 e #7: Titolo, speaker, come rintracciarvi

• Slide #2: The Problem We Solve

• Slide #3: Market Analysis (Size, CAGR, Business Model)

• Slide #4: Competitive Landscape

• Slide #5: Financial Plan

• Slide #6: Our Team

• Scrivete il testo del discorso e portatelo con voi

• Guardate l’audience, NON leggete le slide!

• Voce e mani sono strumenti. Usateli

• Presentate con passione

• Provate, provate, provate

• Anticipate le domande e preparatevi le risposte

La presentazione

Buongiorno, io sono Augusto Coppola, co-founder and CEO di ERIS4, una azienda software che indirizza un mercato da $30B, che ha già diversi clienti in Europa e che è diretta da un team che ha già gestito una startup di successo.La nostra tag line è it’s all about timing perché noi riteniamo che i service providers, che sono i nostri clienti target, possono incrementare in modoconsiderevole i loro profitti laddove siano in grado di gestire quelli che noi chiamiamo real-time customer profiles. Cos’è un real-time customer profile e cos’è una transazione dinamica multi-valore? Permettetemi di spiegarlo con alcuni esempi…

logo

tag line

titolo

speakerruolo

contatto

titolo slide

take away

bilanciamento dello spazio

utilizzo di elementi grafici

http://www.dpixel.it

VCs/BAs Innovation Lab

http://www.h-farmventures.com

http://www.innogest.it

http://www.italianangels.net

http://www.360capitalpartners.com

http://www.believing.it

http://www.meta-group.com

http://www.vertissgr.it

http://www.sanpaolope.com/fondi-chiusi/fondo-atlante.htm

http://www.moaicapitalgroup.com

http://www.annapurnaventures.com

http://www.iban.it

http://www.biclazio.it

Altri link di partenza

http://www.techcrunch.com

http://www.tornado-insider.com

http://www.redherring.com

http://www.siliconvalleyitalia.com

http://mindthebridge.blogspot.com/2009/03/how-to-present-to-vc-by-elisabetta.html

http://www.globalstartups.com

http://enterpriseforum.mit.edu

Presentation Skills

http://siliconvalleystudytour.ning.com

http://www.thestartup.eu

http://www.upstartroma.com

http://www.mindthebridge.org

http://www.workingcapital.telecomitalia.it

Grazie

e in bocca al lupo!

Q&A

Augusto CoppolaERIS4 co-founder & CEO

[email protected]://www.eris4.com