6 - 1 Copyright © 2009 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin.

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6 - 1 Copyright © 2009 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin

6 - 2 Chapter 6 Screening Venture Opportunities

6 - 3 Anchors of Superior Businesses Create or add significant value to a customer or end user Solve a significant problem, or meet a significant want or need, for which someone is willing to pay a premium

6 - 4 Anchors of Superior Businesses Are a good fit with the founder(s) and management team at the time and marketplace and with the risk- reward balance

6 - 5 Anchors of Superior Businesses Have robust market, margin, and moneymaking characteristics Large enough ($50 million+) High growth (20 percent +) High margins (40 percent +)

6 - 6 Anchors of Superior Businesses Have robust market, margin, and moneymaking characteristics Strong and early free cash flow (recurring revenue, low assets, and working capital) High profit potential (10 to 15 percent + after tax) Attractive realizable returns for investors (25 to 30 percent + IRR)

6 - 7 Screening Methodologies QuickScreen Provides a broad overview of an idea’s potential Enables the entrepreneur to conduct a preliminary review and evaluation of an idea in a short period of time

6 - 8 Screening Methodologies Venture Opportunity Screening Exercises (VOSE) Segments the screening of ideas into extremely detailed but manageable pieces

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