Sketchnotes: Venus Ventures Town Hall
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Click on the image for a larger version. Please feel free to share this under the Creative Commons Attribution Licence.
If you like this, check out my other sketchnotes!
This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday). Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence. Click on the image for a larger version of sketchnotes.
And here’s how I drew it…
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MaRS Entrepreneurship 101 Nov 21, 2012 # ENT101
IP MANAGEMENT: Creating Value by Protecting Knowledge Based Assets
NATHANIEL LIPKUS, Intellectual property
MATTHEW POWELL, patents
ASHLEE FROESE, trademarks
Do you use NDAs instead of stronger intellectual property protections?
Non-disclosure agreement costs a ton to enforce !
ONLY 20% of Canadian science /tech businesses – IP protection
Types: Patent, Trademark, Trade secret, Design, Copyright
IP has value!
PATENTS
design around
Control over how an advantage reaches customers
ex: do you need to reinvent the smartphone?
Is it patentable? New, Useful, Non-obvious
Process for sharpening images
Picture copyright
Patent laws <– Strict !!
Public disclosure
Use (ex: commercial)
offering for sale
actually selling it
Patent –> making something PUBLIC in exchange for control
Disclosure
Claims – Patent
Patents are granted on a per-country basis
Patent fee deferrals
Patent cooperation treaty –> options to file (30 months!)
Patent process 1 2 3 4 5
1. Understand inventorship & ownership
2. Prepare patent application
3. File the patent
4. Negotiate with examiner
5. Granted !
That’s too broad
Okay how about this?
Patents Vs. Trade Secret (Shhh…)
Public | can’t stop independent
control | others can protect details
that can be reverse engineered
TRADEMARKS
Your company reputation!
Not just names
mass of consumers
Non-traditional trademarks
3D designs, Colour, Sound ex: M&M Lion, distinguishing guise: Nesquick bottle: bunnies!
Recommended!
Generic -> Descriptive -> Suggestive -> Coined
Some exceptions:
The Beer Store
The more distinctive, the easier to protect.
Do your due diligence! (Is this viable? What’s out there?)
Best way
#1 Trademark registration
–> formal ownership
–> easier litigation
–> can be renewed forever
–> useful for internet also www.
The Living Brand
Keep an eye on your brand
Use it
Ex: escalator, Zipper, Kleenex, Aspirin… becomes generic term!
Update as needed, audit what’s going on
Online: Other people w/trademarks, Cybersquatters
Reserve your space
GOOD HOUSEKEEPING
1. Know your IP: Invention disclosures, spreadsheets
2. Ensure IP Ownership
Contracts — employees, contractors,etc.
Audit IP periodically
Start … … … …
IP HURDLES VS BARRIERS
Patents –> license? invalidate?
Trademarks –> license? modify?
Ex: Samsung vs. Apple
patents between user interface and hardware
Example: Gilead -] licensed HIV drugs to manufacturers in developing countries
Q&A
Q: Lean Startup?
A: Few things can beat being first to market in some industries. Patents–> maintian competitive advantage
A: Don’t forget about IP benefits
A: Can file for proposed use –trademarks?
Q: Business method patents, patent trolls?
A: Not healthy.. Moral discussion? Hybrid–>research labs. Nonpractising entities
Software patents: seat at the table. Challenge with prior art. Problems with patent system.
Q: enforceability of software patents?
A: Yes, if valid.
A: Not algorithms, but processes.
This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday). Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence. Click on the image for a larger version of sketchnotes.
Check out my other ENT101 sketchnotes, or other sketchnotes and visual book notes!
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MaRS ENTREPRENEURSHIP 101: NOV 14, 2012 # ENT 101
MEET THE ENTREPRENEURS: LIFE SCIENCES & HEALTHCARE Moderator : Peter Adams
JOEL IRONSTONE, SenoSense, personalized breast cancer risk
Early stage: The more value you can CREATE without burning – LESS STRESS
Ramen
First 1000 devices: outsource to med. device manufacturers, dropship
People vs. Money : Can flex in people, Can’t flex in money
Note: there’s only so much equity
Kids & risk aversion?
Balance? Carve out / opt in to time outside work
Why: Creating a company OUT OF NOTHING
Business Partner: Compatible, complementary
Worst mistake? Don’t go too far from your gut.
Ontario: SRED, Angel investors
Want $…? More post-financing business support
———–
ALEX HODGSON, 1Degree Bio, Product review for scientists
Business Partner -> Skin in the game
Biggest challenge: Trying to do everything. ASK FOR HELP!
Can’t buy PASSION. My team is full of entrepreneurs
Worst Mistake? Forgetting friends & family
Mentors help you not miss stuff.
Naming? domain name, etc
I expected things to be faster. Don’t beat yourself up over that .
Also mistake: Image above all – uncomfortable!
Talk about the MISTAKES, not just Fluff.
The path CHANGES. There are a lot of low points. Iteration is important
Why: Didn’t see something like this, so I built it.
Bootstrapped 18 months. stressful, but worth it
grants, programs; Went all over to find funding
Ontario: More conservative
Critical of idea? Why? Merit? nuggets
Balance: Still learning. cyclical. Time is not free
Full commitment to startup? It depends. Be honest re: milestones
Hiring? one person at a time. be choosy
Toronto: 4th Largest research centres
TREVOR VAN MIERLO, Evolution Health Services, Changes people’s behaviour
Balance: You can control your schedule
Low points: Firing People
If you want to grow, you’ve got to move to the STATES, but Ontario is a good test bed.
Your first customers will wonder why you have a fancy office
Why? Expanding an idea – follow that path
hiring? MaRS is fantastic for finding people
What do you have to lose? OPPORTUNITY
naming? Don’t let it stop you. Build your product
What do you want? be clear before finding investors. OUTCOME
It is a path of DISCOVERY. Go in with an open mind.
Plan – FICTION
International advisors, caution
Growing: stages > big bang
This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday). Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence. Click on the image for a larger version of sketchnotes.
Check out my other ENT101 sketchnotes, or other sketchnotes and visual book notes!
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MaRS ENTREPRENEURSHIP 101 (#ENT101). OCT 31, 2012
VALUE PROPOSITION JOE WILSON
New tool: Value Proposition Generator
Workbook: Crafting your value proposition marsdd.com/toolkit
I have a great business idea
BLAHBLAHBLAHBLAHBLAH Chemical Polymers BLAHBLAHBLAHBLAHBLAH nanotube wrapping BLAHBLAHBLAHBLAHBLAH
Everyone will want one!
BLAHBLAHBLAHBLAHBLAH Chemical Polymers BLAHBLAHBLAHBLAHBLAH Carbon nanotubes BLAHBLAHBLAHBLAHBLAH
Don’t be that guy!
Sounds exciting! What is it? But what’s the business value? But why?
Value Proposition
WHAT you’ve got –> hypothesis to test
& for WHOM
& WHAT VALUE
Learn startup: tweak!
A value proposition is NOT A…
– Elevator pitch (hook)
– Marketing tagline
– Mission Statement
Q: Testing vs secondary market research?
A: Everyone needs to get out and talk to people. Learning opportunities.
Q: Uniqueness? Living Social / GroupOn
A: Copying is possible. Industry leaders / exponential growth usually need tobe unique. MaRS is interested in new products and new business models.
Q: Must be quantifiable?
A: Doesn’t have to be B2B good to have at least 1.
Q: Prototying?
A: Next week’s lecture, also, IDEO
UNIQUE Specific combination
DIMENSIONS: What, for whom, Values
WINNERS
“…off-priced… international sourcing…”
Department store that offers fashion-conscious consumers the latest brand names at up to 60% off.
economical & easy-to-use
chemical additive that allows — Now ! get it!
Paint manufacturing companies
To reduce the environmental impact of their products
Don’t try to sell to everyone at once
Value prop1, Value prop2, Value prop3
Google
“patented page-ranking algorithm”
Search engine that allows internet users to find (are they really Google’s customers?) relevant information Quickly & easily
Advertisers: Search engine that automatically provides advertisers with potential customers tailored to the ad content, increasing click through rates & conversion rates.
Value != Feature
Understand target customer
Rolls-Royce flying plane incentive
Overt, quantifiable business value
– lower risk
– save time
– save / make money
– enabling functions
– customizable
– convenience
– quality
latent, emotional values … and more
– newness
– status
– aesthetics
– health
– usability
– social inclusion
– ethical
– environmental
– self actualization
PROCESS
Steve Blank
State hypothesis -> Test hypothesis -> Test concept -> Verify
Verify: confirm minimum viable product, Iterate, Exit!
Whole product
Day in the life scenario: Before–> after
Get out of your office!
Talk to customers
Running Lean: Scripts! Analysis! Words!
Watch how people behave
Don’t forget market research: MaRS
Value proposition designer
products & services
gain creators
pain relievers
Customer empathy maps
Gain
Pains
Customer jobs
This is from Brad Feld‘s talk last night on Startup Communities and Entrepreneurial Ecosystems at the Toronto Reference Library.
Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence.
Click on the image for a larger version of my sketchnotes.
Startup Communities and Entrepreneurial Ecosystems – Brad Feld
Check out my other sketchnotes and visual book notes!
I received a free ticket to attend the event. Thanks to Brad Feld, David Crow, William Mougayar, and the sponsors!
This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday).
Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence.
Click on the image for a larger version of sketchnotes.
Check out my other ENT101 sketchnotes, or other sketchnotes and visual book notes!
Text for searching
MaRS ENTREPRENEURSHIP 101 (#ENT 101)
ENTREPRENEURIAL MANAGEMENT – JON E. WORREN
Identify a sustainable business model with minimum waste
– Search
– Business Model
– Start-up
– Growth
– Execution
Customer Problem
Product solution ?
Business Model
Exit (it’s Okay!_
Evaluate
Yes O NO
assumptions
Test
Measure
Time studies
– Taylor
+ Work studies
Steel factories
Managers plan, workers work
Scientific management
Waste Time
Muda:
Hansei: learning
Kaizen: improvement
Jidoka: self-learning
TOYOTA PRODUCTION SYSTEM
agile Development Manifesto
Customer collaboration
Dev Dev Customer
Fewer documents
More conversations
iterations
Lean Thinking
From factories… to all businesses
customer value
Customer Development
Prioritizing business problems to solve
Customer acquisition
Scarcest resource, so understand the process
BUSINESS MODEL CANVAS
Value proposition –> core
What you offer
How you offer it
$ value/ benefit
how value is generated
difference from others
Summary
startups are different
focused on learning
$ most will bootstrap wade
Minimize risk by breaking up the process
Customer problem
Minimum viable product
Customer acquisition
Human element: have someone keep you accountable!
PROCESS> idea
Q&A: Don’t ask people to be your customers in your interview! asking w/o selling
LEAN STARTUP
Customer development + agile development
Build – Learn – Test – Measure
Lean Coffee, Toronto
Company building
Customer creation
Customer validation
Customer discovery
Click on the images to see larger versions. Enjoy!
Keynote: Dani Reiss, Canada Goose
E-commerce in Canada – Drew Green
The Power of Networking Tactics – Bobby Umar
Find Customers, Keep Customers – Marie Wiese
Open Rates, Clickthroughs & Conversions – Javed Khan
Closing panel: Where to Find the Funs to Grow – Marissa McTasney, Erica Ehm, Roy Pereira
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