Dobson Startup Bootcamp 2018

Renjie ButalidAssociate Director

Some ideas are bad at the outset...

Some seem like a good idea at the time...

Or sometimes your ‘baby’ is just ugly!

PASSION

The 3 P’s (IDEA) & 3H’s (TEAM) of Entrepreneurship

HACKER

PROBLEM

PIERCING TECH- SCIENCE

HUSTLER

HIPSTER

Our mission

is to find, teach and develop

world-class entrepreneurs at McGill

Our Impact To Date (since 2009)

Our entrepreneurship programs are supported by a strong McGill Entrepreneur, Alumni, and Startup Mentorship Network

125 Active Startupstoday employing over

1,200 people

2,600 McGillentrepreneurs trained

and mentored

$110 Million raised by our startups

to date as of 2018

Entrepreneurship Programs

10 to 12 Early Stage McGill teams (Fall)

Minimum Viable Product (MVP)

Over $100,000 awarded to McGill startups (Winter)

$125,000 invested in 8-10 McGill startups (Summer)

Montreal | Boston | San Francisco | Toronto | New York City

Why launch a startup?

Tim TokarskyStrategic Advisor at TandemLaunch

So you want to be an entrepreneur?

Tim Tokarsky

Track Record

• 23 Startups • Founder, Founding investor and/or board member

• 2 failed, 1 shutdown at loss

• 4 sales

• 3 IPOs

• 15 still running as independent companies• 3 profitable

Track Record

• Founding Judge - McGill Dobson Cup• Founder - McGill X-1 Accelerator• 6 portfolio founders in Forbes 30 under 30

What should I do ?

• Do something you can be passionate about• Think !!!• Talk to people• A powerful idea vs. a marginal idea• Do something “Good” ( Editorializing )

What’s it going to take?

• Passion• Perseverance • Arrogance • Sacrifice • Thought • Time and Money ( more than you think )

Who should I listen to ?

• Everybody, Nobody, Yourself• Beware of Experts

Nicolas BrinerPresident of the Student Executive Team

nicolas.briner@mail.mcgill.ca

Today!

Startup Bootcamp 2018

Why?

Startup Bootcamp 2018

Why?

Startup Bootcamp 2018

Goals

Startup Bootcamp 2018

• Starting BlockOR

• Pitch Stations

• Business Model Canvas&

• Pitching

Startup Bootcamp 2018

Pitch Stations Starting Block

Format: 30 sec – 3min pitch in front of judges

Location: Room 001, 002, 011, 045, 046

Format: Idea generation workshops & brainstorm

Location: Room 151

Startup Bootcamp 2018

Break

Startup Bootcamp 2018

Back at 11am

Starting Block

Starting BlockCommon myths about entrepreneurship

Starting Block2 Types of Entrepreneurship We’ll Focus On Today

Small & Medium Enterprise• Local Market• Innovation is not a competitive advantage• Businesses with very little external capital• Grows at a linear rate

Innovation Driven Enterprise• Global markets• Company is based on some sort of innovation• Diverse ownership (external capital)• Risky but potential for exponential growth

Starting Block3 ways to launch a business

3. Invention x Commercialization = Innovation

2. Try to learn as much as possible and be exposed to new things

1. New way to improve existing process

Starting BlockForming a Team

Hustler

Hacker

Hipster

Starting Block

Brainstorm the following: Uber/Airbnb for… (pick one)

Flowers; Nightclubs; Laundry; Bulked goods; Doctors; Shipping; Laguage Tutoring; Group Fitness; Hotel Lounges; Truck Drivers;

Dog Walking; Beauty Services; Massages; Ice Cream; ...

Answer the following questions

What’s the problem you are solving?What’s the solution to that problem?

Who are the customers?How big is the market?

Why are you THE team that can make it happen?

#1 #2

#3

LunchUntil 130pm

Startup Bootcamp 2018

Renjie ButalidAssociate Director

The Business Model Canvas

Innovation Driven Enterprise Small & Medium Enterprise

Health Sciences

1. Value Proposition2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Other Consideration

5-page business plan

Social Enterprise

1. Concept2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Social Impact8. Other Consideration

Innovation Driven Enterprise Small & Medium Enterprise

Health Sciences

1. Value Proposition2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Other Considerations

5-page business plan

Social Enterprise

1. Concept2. Customers/Beneficiaries3. Marketing4. Competition5. Business and Financial Model6. Team Composition7. Social Impact8. Other Considerations

“A business model describes the rationale of how an organization

creates, delivers, and captures value”

The Business Model Canvas

is simply a tool to create &

analyze business models

9 Building Blocks

Business Model Canvas

Business Model Canvas: LinkedIn

Business Model Canvas Exercise 1

Phase 1Business Model Canvas

Phase 2TEST PROBLEM

Phase 3TEST SOLUTION

Phase 4Pivot or Keep going

What is a Value Proposition statement?

• A short, memorable description of:• what you do• what problem you solve• and why anyone should care

• Focused on your target customer• Based on a deep understanding of their problem / job they are trying to

accomplish• It should evoke emotion in your target customer• Your target customers should just “get it” and say “tell me more” • Your target customers should paraphrase your value proposition to

describe you to others

Why do you need one?

For the marketplace• The description that attracts your target into your sales funnel,

creates excitement and gets people to pay attention

For investors• The description that tells investors that you have a focused and

clear understanding of the customer and the problem you can solve, and that it is significant and worthy of investment

For yourself• Your mission statement that clarifies why you exist from a

customer’s perspective

The problem if yours sucks

Customers and prospects• Won’t understand what you do• Won’t be able to differentiate you from your competition• Won’t care

Investors• Won’t be convinced that you understand your customer• Won’t be convinced that you have a focused approach to the market• Won’t be convinced that you can make them money

You and your team• Won’t have a clear sense of mission• Won’t understand why you exist and will therefore oscillate around strategy

How to create an awesome value proposition

Always start with the customer

• Make sure you have a deep understanding of exactly who your target customer is

• Make sure you deeply understand what their problem is and how much pain it causes

• Make sure you know the level of motivation they have to seek out your solution

If you are struggling…

… to create an awesome value proposition

• Maybe you don’t yet really understand your target customer

• Maybe you don’t really understand their problem/job and motivations

• Maybe your solution isn’t fully formed• Maybe you haven’t figured out how it benefits your

customer• Maybe your business needs to pivot

Steve Blank’s XYZ

“We help X do Y doing Z”

“We help e-commerce websites increase their sales through A/B

testing, surveys and personalization.”

Geoff Moore’s Value Positioning Statement

For______________________________(target customer)

who______________________________(opportunity)

is a ______________________________(company name)

that ______________________________(benefit statement).

Dave Cowan’s Pitchcraft

(Your solution to market need) and our product is (use metaphor for something people already know).

We are bringing trust to cyberspace, and our first product is a Driver’s License for the Internet.

Eric Sink’s Value Positioning

1. Superlative (“why choose this product”).2. Label (“what is this product”).3. Qualifiers (“who should choose this product”)

The most secure payment gateway for mobile e-commerce.

Venture Hacks’ High-Concept Pitch

[Proven industry example] for/of [new domain]

• AirBnB for Office Space (Breather)• Walmart of Health Food Stores (Whole Foods)• Uber for Groceries (Instacart)

Value Proposition Statement Exercise 2

Competitive Positioning

Competitive Positioning Exercise 3

Break

Startup Bootcamp 2018

Work on your pitchesBack at 415pm

Break

Startup Bootcamp 2018

Finalize Your Pitch!

● Problem● Problem Size● Solution● Market Size● Competition● Team● Call to Action

Startup Bootcamp 2018

Pitching!

Provide feedback!Fill out the following:

• Name of the startup/person:

• Provide positives (+):

• Things you would change:

• Additional questions/ideas:

Startup Bootcamp 2018

Thank you to the entire Dobson Student Executive Team, Carol Clelland, Tim Tokarsky and Judges!

Positions available on the Student Executive Team!Come talk to us!

www.mcgilldobsonmatch.com

www.dobsonchronicles.com

What’s Next?

● January 17, 2018: Application Deadline @ 11:59PM - McGill Dobson Cup 2018

● January 24, 2018: Startup Legals, Protecting Your IP & How to Incorporate your Startup

● January 31, 2018: How to Pitch Your Startup Workshop

● February 7, 2018: Startup Financials Workshop

● February 14, 2018: Market Research Workshop

● February 20-23, 2018: Semi-Finals - McGill Dobson Cup 2018 and much more!

www.dobsonchronicles.com/events

Startup Bootcamp 2018

Thank you!