New Venture Planning Class #1 – October 1, 2013

Reality Check

Welcome New Venture Planning is the first step… We provide: – Concepts and Context – Frameworks and Experience – Tools and Process suggestions You bring: – Ideas and energy – Curiosity and persistence – Unique skills, abilities, and perspectives

Instructors Nathan Lillegard 2006 Oregon MBA Co-founder, Floragenex Raised $1M+ Al Cochrane Serial Entrepreneur CEO Biotech to beer Multiple BOD and IPOs

The Goal… Fall 2 nd year – New Venture Planning Winter & Spring – Venture Startup: 2 tracks 1.B-Plan competitions (Travel, prize $, experience) 2.Accelerator – Launch your business Corrosion Solutions – 2012Red Duck Ketchup

Results 3% Launch a Venture based on identified opportunity – Perpetua – 2005 – Floragenex – 2006 – Innovative Sports Strategies – 2007 – Corrosion Solutions – 2012 – Red Duck Ketchup % who participated in Venture Startup became involved in a startup within 5 years 100% gain transferable skills useful in any size or type of organization – teaching these skills is our focus

Expectations Treat NVP as you would a start-up – “It’ll take all that you can give and ask for more.” – You don’t know what you don’t know. Keep up: Readings = context for class discussion Pace yourself; built in checkpoints for progress

Readings MGMT 625 – New Venture Planning

Grading 10/11 : List 10 targets for prob/sol interview: 5% 10/25: Competitive and market assessment: 5% 10/31: First presentation: Product/Market Fit: 10% 11/26: LivePlan ‘Pitch’ Complete: 10% 12/5: Completed LivePlan business plan: 10% 12/12: Final presentations and business plan: 30% Class participation and team engagement: 10% Lean Stack (10%) and LivePlan (10%)

General Format Customer Discovery Define UVP, MVP Define your ‘Lean Canvas’ Assess and Validate (weeks 1-4) Understanding costs Defining revenue models Establishing Milestones Plan and Build (weeks 5-8) Completing LivePlan Developing your pitch deck Competing at Venture Quest Pitch and Sell (weeks 9-10)

Questions Reading for this week – Startup Owner’s Manual (SOM) - Preface to Chapter 1 pages xiii-18 Running Lean - Foreword – Ch. 3 (pp. xiii – 45) Course packet - Pages 1-9 "Why the Lean Startup Changes Everything" HBR NEXT CLASS – Intro to the Lean Canvas Via Skype – Ash Maurya, author “Lean Canvas”

Idea Pitch What’s your idea? Who cares? Is there a market? What do you need?