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.
MaRS ENTREPRENEURSHIP 101
Dec 5, 2012
BUSINESS PLAN AND OTHER COMMUNICATION TOOLS
Dec 12 Meet the Entrepreneurs
Jan 9 Lived It Lecture
Dec 10 Substance of Silicon Valley
idea -> product
(with lots of help!)
idea -> (build) product -> (measure) data -> (learn)
You are building a PROFIT ENGINE
must be SCALABLE
must be PROFITABLE
Work with your customers
1. What do you do?
2. Who cares?
3. How do you make money?
strategic partners ->
What are your milestones?
investigate, compare, test purchase
Problem -> Solution
What is quality?
Don’t get stuck in jargon!
-> use customer words
Business plan with projections
visual assets are powerful!
Develop the right METAPHOR to help people anchor an idea.
You want investors to be EXCITED about YOU.
Be visible online, too.
meet in person!
PLANNING vs SELLING
-> good for dealing with distractions
Understand biases and work with them
escalation of commitment (handy!) ->
Pick info carefully
Know your audience (not just tech) and BUILD YOUR STORY.
Become an expert.
When you’re ready for thought-provoking
Discover with your customers
Business planning and communication
These people know their stuff
checklist (see slides)
video: problem and solution, short