Shad Valley Entrepreneurship Brainstorming / Mission Statement/ Innovation/ Pitching

What I learned from my parents Grandfathers were soldiers, labourers Father is an white collar aerospace designer “get your skills built, get in with a company after you graduate from college, and work that job for the rest of your life. All you have to do is be good at what you do, and loyal!” Do you think this approach works nowadays?

A Little About Me.. And our world 1800s-1980s: The Industrial Era 1920s: Wave of Immigration to Canada 1930s: Depression 1940s: War 1950s: Baby boom 1990s-now: The Post Industrial Era Fuel is expensive Factory jobs? Not so many…. Globalization Lots of factory jobs!

Be adaptable Don’t stay “wed” to the strategy or product. These will “pivot” (change) even if the vision is good

Vision “formal declaration of what the company is trying to achieve over the medium to long term”* This is your company’s BASE Source: Hill & Jones (2004). Strategic Management Theory (6 th ed.). Houghton Mifflin

What makes a good vision Not too short, not too long Focuses a big problem, but not something that is unrealistic Clearly understood and concise, but not too limiting May evoke some emotion, but realistic “we can do this!!!!” Sees beyond the strategy or product, but you can still tell basically what the company does

Some Examples Our vision is that every student in every school should have the opportunity to learn computer science. We believe computer science should be part of core curriculum, alongside other courses such as biology, chemistry or algebra. to organize the world’s information and make it universally accessible and useful. To help make every brand more inspiring, and the world more intelligent It is our mission to continue to authoritatively provide access to diverse services to stay relevant in tomorrow's world.

Strategy “action a company takes to attain superior performance”* “a pattern or plan that integrates an organizations major goals, policies, actions into a cohesive whole.”* What will you do? What do you need to be good at? More on this Saturday Source: Hill & Jones (2004). Strategic Management Theory (6 th ed.). Houghton Mifflin

Product (or service) Strategy, manifested. The “thing” that will be offered by your company, or “stuff” that you do. It will be the best “thing” or “stuff” that will: solve your customers problems Fulfill your vision make the world a better place Result in a profit for your company

Be adaptable (again) Don’t stay “wed” to the strategy or product. These will “pivot” (change) even if the vision is good

What product/strategy? BuildMeasureLearn Minimize the total time through the loop! *adapted from Develop your product a little bit, to remain relevant Collect data that you think will answer your questions Generate ideas based on what you now know

The Lean Startup Process Don’t ask “can this product be built?”, but “should this product be built?” Fail fast, fail cheap! Learn when you have made a bad assumption about what to build Get close to your customer! Get feedback! Develop an Minimally Viable Product (MVP) to begin learning Spend time validating the business model instead of planning too much!

Tools Websites: wordpressw, wix Mobile: squarespace Social Media:facebook, twitter, youtube Data Collection:surveymonkey Commerce: shopify, paypal Crowdfunding: Indiegogo, kickstarter Free Graphics:creativecommons Startupsstartupweekend, /r/leanstartups, /r/startups

The Pitch Usually about a one-minute talk that captures everything! Problem, size of the problem, product, how customer use the product, etc, etc, etc, etc, etc!!! Why is it important… TO GET RIGHT?

The Pitch Why is it important… TO GET RIGHT? You tend to pitch the idea to people who have resources You need that resource You have to convince them, potentially in a short time! (ie elevator pitch) A bad pitch could “shut a door”

Tips for Good Pitches Make your idea easy to understand! Don’t try to impress, and don’t use jargon Be convincing. Why is it IMPORTANT? Try to find out about what the person cares about, and craft the pitch to convince them. Start with a good hook: “imagine”, etc Make it interesting Mention research you (or others) have done Mention what you need from the person! And finally.. Include a brand name!

Pitch Activity Get into your groups Brainstorm your vision, strategy and product Form it into a one-minute pitch Choose a “pitcher” You will be timed! (yes not everybody will get a chance… but this is still good practice!)

What makes a good pitch? Problem big enough? Idea easily understood? Convincing? Good hook? Interesting? Based on a real need? Clear benefits? Resources needed to make it happen? Did you include a brand name at the end?

Your class “assignment” Create a web presence Use the tools I have identified.. And perhaps others Build this web presence to communicate your idea, vision Make this convincing to your customers Make this enticing to your investors Use it to get feedback on your idea from potential customers “Friend” each others business – get the word out! Look elsewhere for inspiration!!!!

Need help? Got a Is there Shad hashtag? #shadtbay? Reddit: /r/shadvalley Contact me ANYTIME!