Company Builder Move from idea to company – Fast!
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Company Builder
Move from idea to company – Fast!
Company Builder
Speed is everything
Price PremiumCompetitor lock-outMarket leadership
Biggest hurdle is from idea to launch
Ideas
Every business starts with an winning idea…then markets provide feedback
Quick response to market feedback is critical for success
Idea
Idea Validation
Concept
Prototype Concept
Prototype Feedback
Expanded Prototype
Testing
Idea Valid
?
Often the first idea is not what’s launched
Idea validation is iterative, not linear!
During idea validation be open to change.
Your baby may grow and look different over time.
What if you could…….
Reduce the “noise” of building a company
Focus energy on listening to
the market and selling
Validate the idea
Build the Business
Launch the Business
Grow the Business
Idea to Profit Framework
…….. its not about launching an idea, it’s about profits!
“Show me the money”
Validate the idea
Validate the idea
• Create initial business plan• Size the market• Define the buyers (persona)• Develop prototype• Recruit Board of Advisors/Industry Experts• Conduct in-depth market research and validation• Estimate costs/volumes/selling prices and create initial financial model• Decide go/no go on opportunity
What’s a Plan Got to Do with It
• First step is to create a business plan– Merely writing down decisions creates rigorous
thinking
– The better the up front planning, the lower the risk of failures
– Use a complete business plan framework• But focus on understanding the market, differentiators, and
competition
• Using a “plan” to drive activities, you’ll move faster, chase fewer geese and reduce the risk you’ll lose money
Build the Business
Build the Business
• Continue prototype research and refinement (Increase reach and depth of focus group)
• Update the business model (C/V/P)• Create legal entity• Recruit key management team members• Establish accounting/financing provider and track investments• Create website presence and begin generating “buzz” • Review investment risk – go/no go decision for launch• Evaluate “exit strategy” options
Launch the Business
Launch the Business
• Define critical business functions and processes, select service providers for each key function
• Refine customer acquisition strategy• Initiate development of strategic alliances• Finalize product / complete QA go no-go• Update financial models• Prepare press releases• Sell, Sell, Sell
Grow the Business
Grow the Business
• Develop the culture • Hire the right talent• Penetrate your market; drive focused marketing and sales campaigns• Implement business planning process – define key metrics for each
function and consistently review and monitor• Continue scanning for ideas and opportunities – updates to existing
products, new offerings, etc.• Grow, Grow, Grow
Top 10 list for building a business
1. Focus on creating value2. Build a team3. Develop a mantra4. Get in the game5. Stay lean and scrappy6. Go for the globe7. Be nimble, be quick8. Always be selling9. Plan for continuous upgrading10. Focus on people
* Garage.com
*
Critical Function and Activities for Business Planning
AccountingG/L, A/P, A/R, Fixed AssetsSales TaxState and Federal Tax FilingTime and Expense
FinanceCurrency Hedging/ManagementTreasuryCash-flow Forecasting and Modeling - Working CapitalBanking - Funding, Investing, LOC/Foreign Exchange, etc.
HRPEO - Professional Employment OrganizationsRecruitingPayrollBenefitsRetirement PlansComplianceEmployment Taxes (FICA, Unemployment, Medicare, etc)
Critical Function and Activities for Business Planning
EngineeringCAD Design ToolsSoftware Development Tools
Requirements Management, Agile, Waterfall, etc.Bug TrackingTest ManagementConfiguration Management
Technical Writing, Specs, Release Notes, etc.Serial Number Creation/TrackingProduct Data ManagementProduct Compliance with National/International LawsQuality Assurance
OperationsBusiness Volume Forecasting and PlanningPurchasing and Vendor ManagementInventory ControlSales Order Management (acknowledging, shipping, etc.)Warranty Repairs and ReturnsQuality ControlManufacturing Execution, Inventory TrackingSerial Number Creation/Tracking (Serialization, finished goods identification)Continuous Process Improvement ToolsDistribution and Logistics (Shipping and Receiving)
Critical Function and Activities for Business PlanningMarketing
InboundNew Product Requirements/Voice of the Customer (Market)MRD/PRD/SpecificationsMarket Sizing and Forecasting/TAM/SAMLaunch Readiness/Sales Training/New Product Development
OutboundMarket Awareness/Marcom/PRTwitterFaceBookLinkedInYammer
Product PricingPromotions and CampaignsEvents (conferences, webinars, podcasts, etc.)Campaign ManagementAlliance Management (establishing and administering alliances, partnerships, co-op marketing, channel partnerships, etc.)
Critical Function and Activities for Business Planning
SalesProspecting and Qualifying LeadsSales process execution (Requirements discovery, managing contacts, meetings, coordinating channel sales, presentations, demos, proposals, RFP's, contracting and closing etc.)Sales management and operations (sales cycle tracking, reporting, sales analytics, compensation planning/commissions tracking, etc.)Bidding and Quoting (Quote Tracking, quote expiration, price changes, etc.)Pipeline Management (developing new prospects and opportunities, managing number of opportunities, etc)Account Growth and management (strategy for expanding sales in existing accounts, cross-sell, up-sell, etc.)Commissions Tracking
Shopping Cart
Critical Function and Activities for Business Planning
IT InfrastructureWeb Server/App Server/DB ServerPhone SystemVoice MailEmailOffice ToolsWikiBlogsConference CallingWebcastsChatWeb Customer ServiceData StorageCell Phone
Critical Function and Activities for Business Planning
LegalDocument Management/Tracking
NDASales ContractsPurchase ContractsGovernment Compliance (Product, Employment, etc.)Patents/Copyrights/TrademarksTerms SheetsBuy/Sell AgreementsLoan Documents
Corporate Structure and Governance Model (LLP, LLC, S-Corp, C-Corp)Capital Structure (Founder shares, equity in lieu of pay, etc.)Insurance
Workers CompLiability Property & CausalityOfficersBusiness Interruption
Critical Function and Activities for Business Planning
FacilitiesOffice Space/Warehouse Space/Manufacturing Space
Space planning (guidelines for space per person, expansion plans, contraction plans, etc)Insurance planning (Office Equipment, Umbrella Policy)Operating cost budgeting and forecasting- Gross or Net, (Internet, Water, Electric, etc)Legal planning and review lease Guarantee (legal entity, company financials, letter of credit, personal guarantee)
Mapping tools to Processes
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