Welcome!. Today Narrowing the field Open Mic + pizza.

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Presentation transcript:

Welcome!

Today Narrowing the field Open Mic + pizza

Topic 2: Narrowing the Field How do you decide which idea to pursue?

Narrowing the field How do you sort through potential ideas? – Pick which feels best – Fight for your own ideas over others’ and go with whomever wins – Darts – Flip a coin – Structured evaluation and scoring

A great business idea has a combination of: Really big market Low capital requirements Clear value proposition High margins Sustainable competitive advantage

Really big market – lots of customers!

Low capital requirements

Clear value proposition

High margins

Sustainable competitive advantage

What is this?

Sustainable competitive advantage 1: patents

What is a patent?

Sustainable competitive advantage 2: scale

Sustainable competitive advantage 3: brand

Explicit Evaluation Criteria Really big market Low capital requirements Clear value proposition High margins Sustainable competitive advantage

Where the rubber meets the road Are claims backed up by data? Is the case presented coherently? Does the team have relevant experience and passion? Does this feel real, or just for show?

Open Mic!