Click on the image for a larger version of sketchnotes. This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday).
Different Types of Entrepreneurship, Kerri Golden, Allyson Hewitt (MaRS ENT101)
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MaRS ENTREPRENEURSHIP 101 OCT 17, 2012
DIFFERENT TYPES OF ENTREPRENEURSHIP KERRY GOLDEN ALLYSON HEWITT
Why do you want to be an entrepreneur? Make money? Make a difference? Both?
Better way to venture in Canada?
Push Life (example funded startup)
Music on old phones
Control making a difference
Motivation: create something
What do you need?
Space – doesn’t have to be an office coworking (ex MaRS Commons) Basement, etc.
What is so special about you and your product?
Who has done something similar before?
Did they fail? Why?
Can you work with them?
Not for profit, for profit, cooperative, hybrid
See whitepaper on choosing structure – MaRS
Charity (Grants), Not for profit, Social Enterprise (Revenue)
Social Ventures, Social Purpose Business, Traditional Business
Your investors need to be on-board
Combining profit? For-profit can be amazing!
Let’s talk Google.org
TYPES OF ORGANIZATIONS
Small < -->big
Strategic alliances to work together virutally
Low starting costs
Hard to scale
Provider< ----> broker (possibility!)
but don’t forget that scaling through hiring & training takes time.
Social ventures – Services
Ex: A-way Express Good Foot Delivery – also social
Transforming education < -- funded by the Gates Foundation
High development & marketing costs, sales & distribution, production costs...
Huge potential for scale, though
asset sharing possibilities
Zip car Bixi pre-sold
Ex: Re Store, Me to We Style
Grassroot crowd funding
small change fund
* Coops: for-profit for non-profit? Either
* equity-based crowdfunding? Not in Canada.
* B-corp? US-separate type, Canada: ISO checklist.
--> help with impact investors
* Liability insurance w/corporation? Yes
* TSX listing ? Not fresh start ups- expenisve.
* Impact investing medium /long-term? Projecting pretty substantia !
Self-fund-possible in many business
Note! Granting agency will want to report your success
But once it’s paid, it’s paid!
Doesn’t have to be repaid…
… but keeps paying forever (or until you buy them out)
Better for early stage, riskier things than debt
skin in the game !
Venture capital fund cvca.ca
impact investments (ex: SVX)
Family, friends, & fools
- you’ll be sitting down for turkey with these people, so make sure
(a) you’re making a difference
(b) they can afford to lose the money
angels high net worth individuals, private investors
Banks (not for early losses. But try the BDC)
Lots of other resources
- Research Net
- Foundations: Ontario Trillium, Gates, Imagine Canada