TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
ENTREPRENEUR
WEAPONS
Rudy W. De La Garza
First Dominion
FINANCIAL
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 1
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
WEAPONS
What is a Business Plan
A Business Plan is a clearly defined management
discussion of the operation of the business with
projections of future values under certain
assumptions.
Executive Summary
Elevator Pitch
Slide Deck
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 2
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
OPPORTUNITIES
Look around you!
Is there a problem that needs a solution?
Is your solution;
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At a Better price
With a Better device
In a Better technology
A Better way of Communicating
We can built it greener , better, faster,
smarter and cheaper.
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 3
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
FEASIBILITY
Opportunity?
– Scope of target market
Geographic and Demographic
– Potential market size
– Market penetration
– Share of market (realized vs. potential)
– Competitors and market shares
Can we do better?
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
If so how?
Slide 5
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
DEFINE THE CUSTOMER
Know your customer
Gender
Age
Location
Income
Needs
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 6
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
COMPETITIVE ADVANTAGE
Why will they buy:
a. Is it at a Better price?
b. Is it a Better device?
c. Is the technology Better?
d. Will it communicate Better?
e. Will they make the change?
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 7
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
SUCCESS FACTORS AND TIMING
Critical success factors
– What three or four things must go right in
order to succeed, and in what order?
– Is our management team capable of making it
happen?
Timing considerations
– Is the window of opportunity broad or narrow?
– Is timing critical to capturing market share?
– Who else is trying to get there first?
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 8
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
BUSINESS MODEL AND PROFIT
Do we have a viable Business Model?
– How will we reach our customer (sales &
distribution)?
– How will we produce the product?
– How will we price the product?
– How will we support the product after the sale?
Can the business be profitable?
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UTSA Colleges of
Business and Engineering
Selling price (to achieve target volume goals)
Cost to manufacture (function of volume)?
Cost to distribute, sell, service, & support?
Other costs?
Breakeven point?
CITE BootCamp January 2011
Slide 9
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Projection
Financials
Pro forma
1.
2.
3.
4.
5.
6.
Month to month for 12 months
3 year projection
Percentage of market reach
Growth
Cost of goods
Operating cost
a. Salaries
7. Equipment cost
8. Gross Profit
9. Net profit
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 10
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Managing Risks
• Technical risk – will it work?
• Market risk – will they buy?
• Competitive risk – can we sustain a
competitive advantage?
• Implementation risk
– Leadership
– Resources
– A convincing Business Plan
• What could go wrong? Everything
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 11
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Elevator Pitch
You want to catch their attention and get
invited to give your pitch…
KISS
Start with a question to catch someone’s
interest?
Describe the “market pain”?
i.e. The problem you are trying to solve
Say your “value proposition”?
i.e. Why your product is better than others
Tell them the market size?
Tell them your projected revenues?
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 12
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Slide Deck
KISS
• Guy Kawasaki – The Art of the Start
• 10 slides
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Title
Problem
Solution
Business model
Underlying magic
Marketing and sales
Competition
Team
Financial Projections
Status and timeline
• 10 slides, 20 minutes, 30 point font
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 13
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Executive Summary
• 3-5 Pages
– Put your slide deck into words
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 14
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Top 10 Mistakes
1. Solutions or technologies are stuck in R & D.
2. Unclear business model
3. Incomplete competitor analysis
4. Marketing plan not thought out
5. Inadequate description of the uncertainties and risks
6. Gaps in capabilities required of the team
7. Inadequate description of revenue and profit drivers
8. Lack of focus and a sound mission
9. Never sold the market size & % of market unrealistic
10.Limited confirmation of customer demand
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 15
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
QUESTION ?
What is the one single biggest
mistake made?
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 16
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Most missed question
What is the one single biggest
mistake made?
Never trying!
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 17
TAKE YOUR
TECHNOLOGY
TO THE
LIMIT!
Summary
• Entrepreneurial success takes more than a bright idea,
luck and hard work. You must also have:
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The courage to fail
The flexibility to change
The fortitude to listen to others “MENTORS”
And the means to make a decision
• Too many would-be entrepreneurs start with a clever
technology or a bright idea and assume that the world
will beat a path to their doorstep
– Unfortunately, it rarely works that way
Are you ready for the greatest adventure
of your life, then become an Entrepreneur.
UTSA Colleges of
Business and Engineering
CITE BootCamp January 2011
Slide 18