Business 101.1A class in business. And entrepreneurship.

Fall 2016NYU ITP

November 28, 2016

Josh KnowlesJen van der Meer

Extra love from Tom IgoeAnd the Leslie E-Lab

Syllabus Map

START + Form

Teams

Business Models

Customer Development

How to Interview Value

+ The Purpose of Business

ValuesMotivation

TeamCustomer

Relationships+ Channels

AnalyticsKey Resources

Activities Partners

Biggest Vision

Analyze Test

The Money

Plan MVP

Turning Insights Into

Features

More MVP

How small, How big?

Launch MVP

Lessons Learned

Go/No Go?

Sketch Paper Prototype

Oz Test

Smallest MVP

Tech Architecture

Final Prep

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FOR THE FINAL

• Pitch + Lessons Learned • Lessons Learned: 7-10 minutes

• Where did you start, where did you go, how did you make decisions along the way?

• Beginning Canvas, end of semester canvas • Go/No Go? Continue?

• Pitch: 5-7 minutes See slide 21 for “long form pitch: • Pitch as if you were asking for money from a benevolent angel

investor

Storytelling

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Stories are how we think. They are how we make meaning in life. Stories are how we make things work, how we make decisions, how we persuade others, how we understand our place in the world, create identities, and define and teach social values.

Dr. Pamela Rutledge

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TELLING THE STORY OF YOUR COMPANY

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STORIES + MEDIUMS • Self intro - at an event. Hi my name is ___________ and I

________________

• Self intro to a person you know you need to meet = elevator pitch

• Email intro to find customers

• Email to intro find partners / experts

• Email to intro to find investors

• Follow up email and ask for plus one

• Video demo

• Kickstarter / indiegogo video + demo

• Investor meeting

• Pitch day / demo day

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TWO GOALS TODAY:

• Self intro - at an event. Hi my name is ___________ and I ________________

• Investor pitch

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WHICH STORY ARE YOU TELLING?

: http://www.openculture.com/2014/02/kurt-vonnegut-masters-thesis-rejected-by-u-chicago.html

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WHY DO WE HAVE A STORYLINE?

Most investors and backers believe, consciously or subconsciously, that a founder’s motivation is the primary driving force behind a high impact, high growth, super successful story.

SAID INVESTORS, EVERYWHERE.

I invest in TEAMIt’s all about the founders

It’s motivation, baby

YOU’RE ENROLLING ALL KINDS OF BACKERS

Is going to recommend your CTO co founder

Knows an investor you should meet

Wants to buy, now and feature on his 6 MM #instaWants to

feature you on Fast Co

QUICK INDIVIDUAL STORY. HI I’M ________. I’M WORKING ON ______________.

TRY TO CONNECT SOMETHING ABOUT YOURSELF TO YOUR COMPANY CONCEPT.

SHOULD YOU BE TOUGH OR VULNERABLE?

Pitching

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2 DECKS1 / Intro - teaser. 2 / Longer form - with more proof points

INVEST PROCESS: X 50-100

Intro email + Teaser deck

Response - would like to know more

Follow up long form deck

In person “pitch”

In or out then negotiation

LONG FORM - ORDER UP TO YOU…

• Pain (problem you are solving) • Solution (demo, screenshots, workflow, rendering) • Secret sauce (why you and only you and your technology

/ intellectual property) • Market size (current potential, or targeted micro market) • Competition (how you’re different) • You: (why you / your team) • Team: (who else you’ve roped in) • Business Model: (show your theory for how you’ll make

money, even if the answer is none at the start) • Financials/ Key metrics: (show off how you are making

money, or the metrics you’ll use to validate your path • Timeline and use of funds: (show off how you’ve been

using your money wisely, and how you will achieve great things with additional funds)

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SHORT FORM: • Pain (problem you are solving) • Solution (demo, screenshots, workflow, rendering • Secret sauce (why you and only you and your

technology / intellectual property) • Market size (current potential, or targeted micro

market) • Team: (why you / your team) • Business Model: (show your theory for how you’ll

make money, even if the answer is none at the start) 22

Next Week

LESSONS LEARNED + PITCH• Lessons Learned: 7 Minutes

• Where did you start? • Where did you go? • What decisions did you make?

• Then, pitch (long form, 7 minutes)

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