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 29, 2012 : # ENT101
BUSINESS MODEL CANVAS

Not a static business plan
Learn – Idea – Build – Code – Measure – Data

Business Model Canvas

1. Who do you serve <- specific, self-referencing

2. What problem do you solve? Value proposition

3. How do people find you? Channels

4. What types of relationships do you have w/customers?

5. How do you get paid ? Revenue streams

6. What things do you do? Key activities

7. What resources do you need? key resources

8. What else do you need? key partners

9. What does it cost to operate this model? –> key levers, not all costs; Cost structure

Nespresso
Single-serve coffee cups
1970 invented
1976 patented
1986 launched
1988 … flopped

1989
Separate
machine from coffee

Pivot
Was wildly successful

Made Sold Sales Training Coffee Sales
3rd parties Independent retail Nespresso Direct to consumer

30% compound annual growth rate! –> 20 billion capsules!

Business idea
Hypothesis

Read the Lean Startup: Innovation accounting

Great way to communicate with your team, too. Whiteboard!
Take pictures!
What did we do before? Colour-coded Post-its

Homework:
Draw this & test your assumptions,
box by box
falsifiable hypothesis

Nespresso

Coffee machine makers
Distribution
brand patents factories
Marketing production logistics (NEW)

Restaurant quality espresso at home

Retail Nespresso call centre boutiques
Member

High end households

Distribution and sales
marketing
manufacturing

Capsule sales
hardware sales

Fit your value proposition on a Post-It
Whiteboard + Post-Its = awesome

Great for talking to other people
(potential team members, cofounders, staff)

When you’ve got it mostly figured out, make it visual!
but don’t let pretty pictures
stop you from changing it!

Books to Read
Business Model Generation (& lean startup)
Running Lean

Q&A
Q: Business plan vs model?
A: Depending on investor. Concise summary / outline in business model canvas + spreadsheets, plan.
Q: Shortcomings?
A: Lean canvas may be better for some. Defensibility not particularly called out in the canvas
Q: Nespresso pivoting?
A: Customer research, etc.
Q: Very general?
A: Most startups aren’t killed by competition –> usually other reasons. Try making for competitors too?
Q: Evaluation tips?
A: Validate each of the boxes. Canvas can’t tell you if something is a good idea or not
Q: Updating?
A: Be objective about what you put on the business model canvas. change after experiments
Q: Reminder why you’re doing this value?
A: Yes, that’s part of it! Jolts you out of =(

This video doesn’t cover everything – there’s a gap in the middle when we started painting. I have to figure out how to reliably do time lapses with my phone or computer. =) This was fun, though!

Nathan Monk and Jennifer Marron reached out to me with this cool idea – in addition to sketchnoting Lean Startup Day at MarsDD on Dec 3, why not sketchnote the banner as well? I told them I’d never worked on anything that big, but they were up for the experiment and I was too. They rounded up canvas and paint, booked the boardroom, and away we went.

I started by drafting possible layouts using pencil and paper. They suggested some ideas to feature on the banner, and I added quick sketchnotes: an unfinished robot for the minimum viable product, arrows for “pivot or persevere”, and so on. I copied key elements of the first draft onto a second draft, and that was good to go.

Based on the proportions of the paper, we cut the canvas to roughly 68” by 120”. Coming from years of sketchnoting on a laptop screen (and doing the occasional blackboard/easel pad), it was certainly quite a new experience! It was so tall that I had to stand on a chair to reach parts of it. Glad to see that the proportion lessons I’d taken in art class paid off, though – I found it easy to work with the large space.

We started by taping the canvas to the wall and chalking outlines. I used my measuring tape to find the center and scribe a circle around it (hooray for high school geometry!). Then I lightly chalked the outlines of the MaRS logo and the sketchnoted quotes while Nathan and Jennifer chalked in the partner logos.

After chalking the layout, we stepped back to see what it looked like. It looked great! Then the duct tape gave way (canvas is heavy!), and we unanimously decided to move it to the boardroom table for the actual painting. If it collapsed that way while painting, we’d suddenly have an abstract art piece on our hands! We spread plastic wrap all over the boardroom table and the floor, set out the paints, and got going.

While Jennifer focused on the partner logos, I painted the MaRS logo, the Lean Startup Day arrows around it, and the sketchnote-style concepts surrounding the logo. We completed the banner in around 4 hours – about 1.5 hours to design and chalk it, and 2.5 hours to fill everything in with paint and touch up with white to cover up mistakes. The materials cost less than $200 – maybe $150? – and that was with way more paint than we needed, since none of us had any idea what to work at that size. I couldn’t get a good picture of it, but once it’s up on Dec 3, I’ll be sure to.

That was fun!

Lessons learned:

• It’s okay to not get things exactly right, so don’t worry about not having a projector or other tools.
• Chalk lightly and with a light colour so that it’s easy to brush off mistakes!
• Have lots of small brushes on hand for detail work.
• A little paint goes a long way.
• So does a sewing tape measure.
• White (or something close to your background colour) makes a great cover-up.

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…

Check out my other ENT101 sketchnotes, or other sketchnotes and visual book notes!

Text for searching:

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.

Click on the image for a larger version! Please feel free to share this under the Creative Commons Attribution Licence.

This talk was organized by Girl Geeks Toronto. If you like this, check out my other sketchnotes. Check out Andrea’s sketchnote of the same event, too!

Brainrider hosts these wonderful monthly meetups for marketers (digital and traditional) in Toronto. Click on an image for a larger version of the sketchnotes. Feel free to share these under the Creative Commons Attribution 2.5 Canada licence!

Dragging an Organization into the Digital Age – Sarah Major and Jeanie Hendrie

7 Steps to Social Media Success, Richard Marginson

Like these? Check out sketchnotes for previous #torontob2b meetups or my other sketchnotes!

Text:

DRAGGING AN ORGANIZATION INTO THE DIGITAL AGE
Sarah Major and Jeanie Hendrie
#torontoB2B
Nov 15, 2012

First!
Content strategy and framework
Current clients start conversations
Associates engage
Prospective associates
Great place to work

Rest of the world
SEO, etc.

Anchor
-> Outpost
-> Outpost
-> Outpost

What questions do clients ask you? What language do they use? -> Organize into framework -> Blog categories (Targeting, Brand strategy, …)

Plan on a page
Goals
Ways of working
…

Translating analogue behaviours to digital

Content strategy is not permanent.
BrainRider
-> Review using data

Analytics: tie it back to goals to make them actionable

Generate Content
Views
Posting momentum

Expand deployment
Reader loyalty
Length of stay

Fostering engagement
Client breakdown
Comments

drum up internal engagement
highlight client comments

Video objectives
Share and celebrate
Recognize and reward
Have fun!

Evolution of SKW
Before and after
Stats
Blog team

Challenge:
Keeping writers writing, otherwise stale!
-> buckets of inspiration

Q: Guest bloggers?
A: Clients co-write some posts. Those are very successful.
Q: Most commented vs most read?
A: Often different.

7 STEPS TO SOCIAL MEDIA SUCCESS
Richard Marginson (@RickyInMotion)
#torontoB2B
Nov 15, 2012

Word of mouth of SUPER STEROIDS
listening
connecting
publishing
Chris Brogan

One-to-one dialogue

1. Got the vision? Get the support!

Not the decision-maker?
GET BUY-IN.

Community manager

monthly, etc.
Steering committee
–agency
Community manager
-SMEs
-Editorial

2. Who knows your BRAND better than

YOU?
Be engaged instead of handing it all

off to an agency.

3. Start with free tools.
Understand what your customers see.

4. Rules and guidelines are important.
– resolve ambiguity

5. Engage!
converse
comment
curate
create

6. you’re already making a ton of

stuff.
Reimagine it for social media

purpose -> content -> measurement

7. Measuring success
mentions per day
positive, negative, neutral
trends, opportunities, threats

Google authorship, Bing and Klout,

Google Panda update

Social proof
Restaurant
full of your friends.

Q: Talking to clients?
A: Survey, key search terms, call

centre, content..
sales team may also know, can

summarize over many customers.

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: 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