SB113 Course Overview

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• SB113 Course Overview
• Risk, Resource and Opportunity

Marc Compeau 8/23/04
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Do you have what it takes to be an
entrepreneur?
The Aptitude Test
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What is entrepreneurship?

• Assuming risk and managing resources in order
  to capitalize on recognized opportunity.
• What is Intrapreneurship ?

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Action without thought is wasteful, thought
without action is foolish.
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4 Step Start Up Analysis

• Step 1. Audience assessment
• Step 2. Opportunity assessment
• Step 3. Resource Assessment
• Step 4. Risk Assessment

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Mike and Marc

• Mike Web based service providing home delivery
  of McDonalds food

Marc International Chain of retail locations
selling super long burning light bulbs.
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Step 1. Define your Audience

• Clearly define who your audience is-
• You?
• Investor?
• Mentor?
• Potential Partner?
• Potential Buyer?
• Customer?

8
Mike and Marc

• Mike Web based service providing home delivery
  of McDonalds food

Marc International Chain of retail locations
selling super long burning light bulbs.
9

• I was seldom able to see an opportunity until
  it ceased to be one. Mark Twain

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Step 2. Analysis of the Opportunity

• Opportunity recognizers vs. Opportunity Shapers
• Market demand is a key ingredient to measuring
  opportunity
• Let the customer take you to the opportunity
• Ideas are a dime a dozen, opportunities are few
  and far between

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Opportunity

• Describe the spending habits of your primary
  target audience vs. tell me about your
  competition.
• What benefits and attributes will your customer
  value the most?
• What are the financial outcomes of your
  competitive advantage?
• Opportunity 3 Ms Market demand, Market size
  and structure, Margin analysis

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Opportunity

• How will your business solve your customers
  problem?
• How will your customer view your solution as
  different from your competitors solution?

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Opportunity

• Know the barriers to, and boundaries of, your
  opportunities.

14
Mike and Marc

• Mike Web based service providing home delivery
  of McDonalds food

Marc International Chain of retail locations
selling super long burning light bulbs.
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Step 3. What are your Resource requirements?

• Understand and use resources, but dont be driven
  by them.
• Resources Minimize and Control vs. Maximize and
  Own

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Resources

• Some experts feel you are under investing if you
  are profitable
• Resources are the best place to unleash
  creativity
• Think cash last / Bootstrapping first

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Resource

• Team
• Whats more important, the team or the
  opportunity?
• Which would you prefer
• A team with a B idea or
• B team with an A idea?

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Resources
Great leaders understand how to be a follower

• ask yourself these questions
• What makes a great follower?
• Are you a great follower?

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Resources

• Demonstrate your motivation to excel
• Demonstrate your commitment and determination
• Demonstrate your tolerance of risk, ambiguity and
  uncertainty
• Demonstrate your awareness of team locus of
  control
• Demonstrate Adaptability, leadership,
  communication

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Mike and Marc

• Mike Web based service providing home delivery
  of McDonalds food

Marc International Chain of retail locations
selling super long burning light bulbs.
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Step 4. Understand the Risk

• You have no strategy until you have said no to
  several opportunities
• Look for Risk reducers, how can I get others to
  accept a portion of my risk?
• Intelligent risk always pays off.

22
Mike and Marc

• Mike Web based service providing home delivery
  of McDonalds food

Marc International Chain of retail locations
selling super long burning light bulbs.
23

• Audience
• Who am I interested
• in persuading?
• What do they
• already know?
• What do I think they
• Want to know?
• OR
• What do I need
• to know?

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• Audience
• Who am I interested
• in persuading?
• What do they
• already know?
• What do I think they
• Want to know?
• OR
• What do I need
• To Know?

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• Audience
• Who am I interested
• in persuading?
• What do they
• already know?
• What do I think they
• Want to know?
• OR
• What do I need
• To know?

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• Audience
• Who am I interested
• in persuading?
• What do they
• already know?
• What do I think they
• Want to know?
• OR
• What do I need
• To know?

27
Mike and Marc

• Mike Web based service providing home delivery
  of McDonalds food

Marc Chain of retail locations selling long
burning light bulbs.