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 (#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 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).

Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence.

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?
VIDEO
Better way to venture in Canada?
Push Life (example funded startup)
The pitch
Music on old phones
Hiring people
Autonomy
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.
Idea
What is so special about you and your product?
Who has done something similar before?
Did they fail? Why?
Can you work with them?

Business model?
Not for profit, for profit, cooperative, hybrid
Ex: MaRS
See whitepaper on choosing structure – MaRS
Charity (Grants), Not for profit, Social Enterprise (Revenue)
Social Ventures, Social Purpose Business, Traditional Business
Target Zone
Your investors need to be on-board
Combining profit? For-profit can be amazing!
Let’s talk Google.org
TYPES OF ORGANIZATIONS
Consulting
Small < -->big
Strategic alliances to work together virutally
Low starting costs
Liabilty insurance
Hard to scale
Services
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
Service Example:
JUMP MATH
Transforming education < -- funded by the Gates Foundation PRODUCT ORGANIZATION High development & marketing costs, sales & distribution, production costs... Huge potential for scale, though asset sharing possibilities Zip car Bixi pre-sold Charity Product Ex: Re Store, Me to We Style video: Grassroot crowd funding small change fund Community initiatives - marketing - fun Q&A * 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 !
FINANCING
Bootstrapping
Self-fund-possible in many business
Fundraising
Coops,
grants
Note! Granting agency will want to report your success
Financial performance
Debt
But once it’s paid, it’s paid!
Equity
Doesn’t have to be repaid…
… but keeps paying forever (or until you buy them out)
Better for early stage, riskier things than debt
SOURCES
You
skin in the game !
Venture capital fund cvca.ca
impact investments (ex: SVX)
Family, friends, & fools
Turnkey principal
– 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
accelerators
Banks (not for early losses. But try the BDC)
Lots of other resources
– Research Net
– NSERC
– RAP
– Foundations: Ontario Trillium, Gates, Imagine Canada

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!)

Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence.

Arshia Tabrizi: Startup Law 101: Legal Launchpad – corporate organization, intellectual property, contracts

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

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MARS ENTREPRENEURSHIP 101
STARTUP LAW 101: LEGAL LAUNCHPAD
ARSHIA TABRIZI @ arshia_tabrizi
Partnership Tips –> MaRS Video
Is this the right person to be partners with?
– values
– timelines
– goals
– roles
– compensation
– exit strategy
Written
agreement
Roles & responsibilities
Ownership
– different
– Employment
needed skilset may change
Okay
Need something else
EXIT
Build in an exit strategy
in case of death, disability, major disagreement
Corporate Organization
$750 (basic) -$1,500 (full)
articles of incorporation
– imited liability –> Separate legal entity
– tax advantages
– IP centralization –> bringing other people’s ideas together
– venture capital / acquisition
When do you incorporate?
DEFINITELY
Employees/ consultants
Contracts / relationships
Incorporate work, Scrooge pays later
Don’t cheap out !
Corporate Structure
Founding shares
Voting rights
share classes
Shareholders’ agreement
= pre-nup
always cutomized! –> Hire/finance/sell arrangements
Corporate governance
Board
Officers
Shareholder exit
(Divorce, sale, etc.)
pre-venture
venture-ready
Questions (cont’d)
Q: Finding the right laywer?
A: Long-term relationship, so raport & fit.
Experience in the field you’re in.
Q: NDA for investors?
A: Practically, many won’t. as a lawyer, try (Esp. with angel investors, low deal flow)
Q: No IP assignment document?
A: Employee? Company. Consultant? Consultant.

Intellectual Property
Protecting your primary assets
Example: Steve Jobs
Patented stair design
in appl stroes!
Secretve & controlling Vs Lean start-up practice (Shh!)
I.P. is not only about patents
– trademarks
– design
– etc.
Costs –> Definitely get a specialist
$ 10-15K full patent
$ 2-4K provisional patent
+ Prosecution & enforcement
Your lwer may not look like this
Trademarks –> Brand
$1-2K for registration (R)
6-18 months
But improper use — rights
Digital media is about brand
– Research your brands! Protect your brands!
Trade Secrets
easy, cheap no time limit / disclosure
But watch out for traps in NDAs
should be mutual
watch out for big companies !
sometimes they use IP assignment forms!
ENT101 October 10, 2012
Notes by Sacha Chua (@sachac)
Livinganawesomelife.com
Contracts
Legallybinding agreement
Use contracts with everyone
– Employees
– Founders
– …
– Customers
– Contractors
Emails, Letter of intent,
Memorandum of Understanding
May be legally binding, may not!
You need legal reviews of LOIs, MOUs.
Lawyers — Manage nsk
Protect IP
$ Sell company
Review agreements,etc.
We are here to be paranoid.

Questions
Q: Pre-venture us ventures?
A: Simpler takes deals etc into account
Q: Cost of patent enforcement?
A: Several thousands just to check if you have a claim, way more to defend
Patent –> right, but you have to defend them.
Q: Provisional patent vs full?
Reserve that filing date, then file full after. Can have pitfalls
Q: Lean startup?
A: Depends on type of company, Legal perpsective, worried about incomplete
Q: Demographics of ENT 101?
A: Similar to MaRS–Organizer
Q: Hackathon? A: if you’re willing.

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!)

Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence.

Missed the first session? Check out my sketchnotes for Finding and Validating Your Idea (Keri Damen).

Liked these notes? They’re fun to do and I’m happy to share them. I learn, other people learn, everyone’s happy! If you want, you can set up some time for tea/hot chocolate/Skype/Google Hangout (or e-mail me your thoughts), tell me what you’re interested in, and help me in my quest to learn how to get really good at connecting the dots. =)

Looking forward to sharing more notes next week!

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MARS ENTREPRENEURSHIP 101: LIVED IT LECTURE
BRUCE POON TIP. G ADVENTURES
1990 Backpacking myself…
Envision the world before
Google
Email
Fax
People had to go to travel agents
I realized…
Canadians only have ~2 weeks holiday.
Looking for adventure companies in German phone books..
How do you turn tourism into something exportable?
GAP
Cruise
backpack
all these people trapped in mainstream holidays…
opportunity !
Now –> I’m surprised by the number of people who say
I want to go to Antarctica this Thursday…
$100 spent
Only $5 actually stays in a developing country’s economy.
–> UNEP 2008
Ex: public beahces in Jamaica
Flashback
I just got my fax machine..
… and then I realized they needed to have a fax machine too!
Business Model
Happiness
Building a buisness model around this.

1993
Europeans have way more holidays..
The Australians work between holidays..
Export the business! Now.
need a brand
(sustainable)
HAPPINESS
(at work)
– perceived progress
– freedom
– being part of something
– larger than yourself
– perceived control –> make it easy for people to leave
– connectedness
Netflix – 14 pages of core values!
More advice from Q&A: boutique, niche
Building iconic brands
Movements ex: Dove – cheap –> premium
Social
Enterprise
a whole new style of business
Oct 3, 2012
Example: Peru
Weaving
youth going into tourism industry
time
Women’s weaving co-op
– help people
– differentiated our trips
Solving a business problem with sustainale salutions
Strategy 1: Big company: Corruption
Strategy 2: Some good, some bad
Strategy 3: Focusing on training consistency
My leadership challenge:
1500 people, most of whom I’ll never meet, want them to be happy and deliver
Traveller
Taking what we are as a business and turning it into a movement.
Transcending your product
Engaging your customers –> why, stories
Challenging customers
What will you do today for tomorrow?
Engage customers for a higher purpose–> beyond travel
Doesn’t have to cost you anything
Partnership, projects
Q: How do you do everything?
A: Great people
Q: Pivot?
A: The world is changing so much ~every 5 years
Q: Biggest mistakes?
A: Trying too hard to find diamonds in the rough while bootstrapping
sometimes not best for business

Click on the image for a larger version of sketchnotes from today’s talk on Finding and Validating Your Idea. This talk is part of the free MaRS Entrepreneurship 101 series. Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence.

UPDATE: Here’s the video.

Like this? Interested in business? You’ll probably also like my sketchnotes of The $100 Startup. Check out these other sketchnotes, or search them in my public Evernote notebook. Enjoy!