Entrepreneurship Boot-camp Session 4

ENTREPRENEURSHIP BOOT-CAMPINSTRUCTOR: VISHAL KIRTI

DATE: MAR. 13,2016

SESSION 4

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

• Mar. 27: Presentation skills, successful pitches, what ideas got funded

• Apr. 3: No class. Spring Break

• Apr. 10: Filing your patent, patent gotchas, success and failures

• Apr. 17: 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

STEPS NEEDED FOR YOUR STARTUP

ENTREPRENEUR IN FOCUS- CAMERON JOHNSON

• http://www.cameronjohnson.com/

• Now 30, started at 9

• Internet start-ups

• “I was 15 years old and receiving checks between

$300,000 and $400,000 per month”

• Bootstrapping

• Earnings from one business as capital for another

• Frugal

• Mentors

• Shares his ideas with a lot of people

• Internet-Level Playing Field

STEPS

INCORPORATING• Limit Liability

• Talk to a lawyer or DIY at LegalZoom.com if small

• C-Corp

• Not many limitations

• Best for companies which want to go public

• Taxed at both corporate & share-

holder levels

• S-Corp

• Only 100 shareholders

• No Non-US citizens

• Pass-through tax

• Only shareholders taxes

• LLC

• Can be Sole Proprietorship

• Or Partnership

• Pass-through taxation

EQUITY

• Distribute 80% among founders

• Reserve 20% for option pool

• Option Pool is for future members

• To attract talent

MARKETING- CASE STUDY

• Search Engine Optimization

• Website tailored to have your business come out ahead

• Google AdWords- Paid Advertising

• Eg. Search

• “After School Livermore” OR

• “Licensed After School Livermore”

• “After School” if you are in area

• Or any such combinations

• Both methods give out www.DamaraKids.com

• Both Google AdWords campaign and SEO running

CLASS EXERCISE & H/W

• Try the Marketing Case Study at Home

• Finish The Following Two Slides from the Business Plan

HW: INDUSTRY AND MARKETPLACE ANALYSIS

• Industry Analysis

• Marketplace Analysis

• Customer Analysis

• Competitor Analysis

HW: SALES & MARKETING STRATEGY

• How and where will you sell?

• How and where will you advertise?

• Promotion Plans

• Cost of marketing