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Kawasaki, Chs. 3 and 4

Kawasaki, Chs. 3 and 4. Kawasaki, Ch. 3, Pitching. One minute to explain your relevance Shock and awe aren’t usually obvious (except to you) Use “For instance…” to give specific explanations about what you do…make it concrete…. Kawasaki, Ch. 3, Pitching.

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Kawasaki, Chs. 3 and 4

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  1. Kawasaki, Chs. 3 and 4

  2. Kawasaki, Ch. 3, Pitching • One minute to explain your relevance • Shock and awe aren’t usually obvious (except to you) • Use “For instance…” to give specific explanations about what you do…make it concrete…

  3. Kawasaki, Ch. 3, Pitching • Use the 10/20/30 rule for presentations: • 10 slides • 20 minutes • 30 point font • E.g., 20 point font; 25 point font; 30 point font; 35 point font

  4. Kawasaki, Ch. 3, Pitching • Kawasaki doesn’t give much weight to lofty statements: • Market will be $50 billion • Ability to forecast 5 years of more • Millions of potential customers

  5. Kawasaki, Ch. 3, Pitching • It’s about the addressable market • It’s about relevant estimates • It’s about the on-going flexible business model

  6. Kawasaki, Ch. 3, Pitching • Total Addressable Market (TAM) • The true size of the potential market you can reach

  7. Kawasaki, Ch. 4, Business Plan • Kawasaki gives some sound action advice: • Business plans are required (but not necessarily a navigation tool for entrepreneurs) • Pitch, then plan – write your pitch first, then develop your business plan

  8. Kawasaki says keep it at 20 pages or less • One author only (many contributors) • Simple binding and presentation • Simplify financial projections • Key metrics: #customers, locations, etc. • Define assumptions

  9. Kawasaki says keep it at 20 pages or less • Typically include 5 year projections • More specific in early year(s) by quarter, then annual • Cover timeframe it takes to earn significant revenues

  10. Kawasaki • Write your plan “deliberately” (factual terms as if it will happen precisely as you describe it) • Act “emergently” in a manner that allows you to quickly adapt to the market, opportunities, etc.

  11. Kawasaki • Make your business plan stand out by… 1. Having credible referral source 2. List of potential or current customers 3. Real-world knowledge/experience 4. Diagram and graphics that simplify complicated concepts

  12. Kawasaki, Chs. 5 and 6

  13. Kawasaki, Ch. 5 Bootstrapping • Bootstrap business are NOT necessarily trivial businesses • All businesses should consider cash flow • Advantages of bootstrapping?

  14. Kawasaki, Ch. 5 Bootstrapping • What is a bootstrappable business? • Low up-front capital • Short sales cycle • Short payment terms • Recurring revenue • Word-of-mouth advertising (see “Guerilla Marketing”)

  15. Kawasaki, Ch. 5 Bootstrapping • Getting the word out… • Internet • Friends and family • Making your product/service visible by talking to everyone • Piggyback on other products, services, or stores

  16. Kawasaki, Ch. 5 Bootstrapping • Bottom-up forecasting • How many sales calls can you (or your salespersons) make each day? • How many days of selling? • How many sales calls will convert to actual sales? (Try this out) • How much money will each actual sale bring in?

  17. Kawasaki, Ch. 5 Bootstrapping • Prototype • Ship, then test • Fix, ship, fix, ship… • Try small market segments or market testing first • Focus on function, not form

  18. Kawasaki, Ch. 5 Bootstrapping • Stay within reality, you can be optimistic and realistic (the red pill) • Let people tell you the truth (get a Morpheus) • Build a board (good guidance and support) • Know what’s big, what’s small

  19. Kawasaki, Ch. 6 Recruiting • When you are ready to hire…. • Don’t confuse the former organization with the person • Experience in big organizations isn’t always necessary • Experience in failed organizations isn’t always bad • Hire the person who can learn the job • Hire people who can make meaning from the business

  20. Gartner & Bellamy, Ch. 3 • Enterpriser’s skill set • Goal setting at the core • Time management, persuasion, negotiation, networking

  21. Gartner & Bellamy, Ch. 3 • Goal setting • Specific is better than vague • Difficult is better than easy • A decision is at the base of goal setting – the decision to act

  22. Gartner & Bellamy, Ch. 3 • What is rapport building? • What aspects of your self-assessment indicate your strengths in this area? • Rapport is at the foundation of your credibility.

  23. Additional Sources • http://www.hbs.edu/entrepreneurship/resources.html (Harvard Business School) • http://www.internationalentrepreneurship.com/ (information/global by country) • http://online.wsj.com/small-business (Wall Street Journal) • http://eventuring.kauffman.org/ (Kauffman Foundation) • http://www.we-inc.org/ (women entrep.) • http://www.score.org/minorty.html (minority entrep.)

  24. Networking • www.sba.gov • Financing information • Start-up kits/information • Search by zip code • www.score.org • Service Core of Retired Executives • Search by zip code • www.scorela.org • SCORE in Glendale

  25. Networking • Who is in your network? • Complete inclusion of your relationships • Primary network – those closest to you in business or personal issues • Secondary network – those you have met in doing business • Tertiary network – those you have been introduced to briefly or someone linked to your primary or secondary network

  26. Networking • Look for ways to exploit differences among relationships • Prepare, show up, interact • Keep track of contacts, where you meet them, etc. • Keep in touch with people on your list • Use the list • Gartner and Bellamy

  27. Networking • Get lists of attendees before meeting • Create interest with short introduction • Spend time with people you don’t know • Focus on what you do to solve problems • Ask for information • Use resources appropriately • Acknowledge leads, support, etc. • Energy and confidence • Posture, body language • Gartner and Bellamy

  28. Gartner and Bellamy – Ch. 4 • What are the forms of organization described? What are some advantages and disadvantages of each? • What are the implications of your self-assessment in terms of organizing your business? Be specific.

  29. Gartner and Bellamy – Ch. 5 • Read the enterprising ethics case on page 142 and be prepared to discuss questions at the end of the case. • In addition to the case questions, be prepared to discuss what Paul Bass could have/should have done differently – if anything.

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