1 MBA 848B Launching the Venture | Feasibility Challenge 1: Intro Class P ATRICK V ERNON Clinical Assistant Professor of Entrepreneurship Executive Director, Center for Entrepreneurial Studies K ENAN -F LAGLER B USINESS S CHOOL

2 Welcome to Launch!

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4 Canvas

5 Rules of Improv 1.Agree and say yes 2.Not only say “yes,” say “Yes AND...” 3.Make statements, not questions 4.There are no mistakes, only opportunities More: Using Improv to Build Critical Skills, UNC Kenan-Flagler (PDF)Using Improv to Build Critical Skills, UNC Kenan-Flagler (PDF)

6 Launch Culture

7 “Flipped Classroom”

8 Typical Week in Class Check-In Micro Lecture Next Steps Flipped Workshop Min. 1 hour InstructorTeams

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10 Startup Owners Manual “Customer Discovery”

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12 Your startup idea

13 Your startup idea You

14 You and your idea

15 “Value Network” Customer Competitor Customer Partner Partner Partner Competitor Supplier Customer Competitor Service Provider Your Startup Idea You and your idea

16 Value Network Customer Competitor Customer PartnerPartner Partner Partner MarketIndustry Competitor Customer Service Provider Supplier Service Provider Supplier Competitor Customer

17 Business Model Canvas Video

18 Textbooks Business Model Generation Alexander Osterwalder and Yves Pigneur, Wiley, 2010 The Startup Owner’s Manual Steve Blank and Bob Dorf K&S Ranch, 2012

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22 VALUE PROPOSITION -Guess #1 -Guess #2 CHANNELS -Guess #1 -Guess #2 CUSTOMER RELATIONSHIPS -Guess #1 -Guess #2 CUSTOMER SEGMENTS -Guess #1 -Guess #2 REVENUE STREAMS -Guess #1 -Guess #2 COST STRUCTURE -Guess #1 -Guess #2 KEY PARTNERS -Guess #1 -Guess #2 KEY RESOURCES -Guess #1 -Guess #2 KEY ACTIVITIES -Guess #1 -Guess #2 Business Model Generation BMG Canvas Template

23 VALUE PROPOSITION -Guess #1 -Guess #2 CHANNELS -Guess #1 -Guess #2 CUSTOMER RELATIONSHIPS -Guess #1 -Guess #2 CUSTOMER SEGMENTS -Guess #1 -Guess #2 REVENUE STREAMS -Guess #1 -Guess #2 COST STRUCTURE -Guess #1 -Guess #2 KEY PARTNERS -Guess #1 -Guess #2 KEY RESOURCES -Guess #1 -Guess #2 KEY ACTIVITIES -Guess #1 -Guess #2 Business Model Generation BMG Canvas Template

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25 MVP Pivot Test Create

26 MVP BrochureDemo Working Proto- type Website

27 Words +Images +Design Building Blocks of MVP MVP BrochureDemo Working Proto- type Website

28 Live Pitch 60- Second Video Challenge # 1 MVP Words +Images +Design Building Blocks of MVP

29 Challenge #1 Video Face-Off Write a 60-second script Practice w/5 friends & rewrite Practice w/5 customers & rewrite Record headshot video Upload to YouTube, tag: UNCLaunchYouTubeUNCLaunch

30 Challenges | 50%

31 Storytelling Slam Startup Forensics Video Face-Off CSI Final MPV of the MVP CSI Halftime CHALLENGES Test Mockup Weekly Challenges + CSI Launch Coaches 5 Friends/5 Customers Final Tally Check-In CSI Challenge 2 Survey 1 st Draft

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34 Grading 50% Weekly Challenges 30% Final Presentation 20% In Class Peer Contributions HPL High PassPassLow Pass 25%70%5%

35 Challenges | 50% HPL High PassPassLow Pass 25%70%5%

36 Challenge Criteria Creative Employed problem-solving imaginations to tackle the disparate variables presented in this challenge. Strategic Worked smart. Made logical, data driven choices. Focused on the right things, not driven to distraction. Industrious Worked hard. Made the effort necessary to get the job done well. +/- Difficulty Factor Some teams start with a harder project, and you may consider their track record for overcoming obstacles. Class votes + instructor votes + end of class peer evaluations

37 Final Presentation | 30% 15-minute PPT Market feasibility presentation Report on learnings and pivots Showcase MVP Decision whether to continue to next phase

38 In Class Contributions | 20% Collaborations to Google DocCollaborations Rules of improv apply! Excellent feedback includes: –Specifically worded hypothesis –Suggestion for a way to test the hypothesis –Suggestions for solutions (not just critiques) –Referrals –Offering to be an interview subject

39 Course URL courses/ No “www” Log onto kenan-flagler.instructure.comkenan-flagler.instructure.com and connect Google account.

40 Let’s Hear Some Ideas!

41 Next Step: Due Sun. Midnight Video Face Off Challenge Write 60 second script Test it with 5 friends, rewrite Test with 5 potential customers, rewrite Record 1 minute video Submit to YouTube Canvas

42 Tech Demo Ideas Create word cloud Set up Google analytics Domain name Commission a logo

43 Experiential Philosophy

44 In ∙ ter ∙ ac ∙ tive People influencing or having an effect on each other Interactive Philosophy

45 Strategic and Tactical Philosophy

46 Scrappy Philosophy