CSB/SJU Job Search Series Budding Entrepreneur November 17 th 2009 Hosted by RJF Agencies

Prayer for Job Seekers God, our Creator, we turn to you seeking your divine help and guidance as we look for suitable employment. We need your wisdom to guide our footsteps along the right path, and to lead us to find the proper things to say and do in this quest. We wish to use the gifts and talents you have given us, but we need the opportunity to do so with gainful employment. Do not abandon us in this search, but rather grant us this favor we seek so that we may return to you with praise and thanksgiving for your gracious assistance. Grant this through Christ, our Lord. Amen

TERRI BARREIRO MCNEELY CENTER FOR ENTREPRENEURSHIP Donald McNeely Center for Entrepreneurship Resources Available for Alumnae/i

You can something I am not going to tell you it is easy... But it happens all the time It is a journey with lots of questions and an ever changing reality

1.Look inward – Know yourself Skills Experience Expertise Passions

2. Look Outward – See Opportunities Everywhere Read Listen Look Around : What’s missing? Check your gut

3. What is the Basic Idea? Write it down! Concept description Key attributes Likely market Competition Sales and distribution

4. Who will buy it? What are the characteristics of the potential customer? How many will likely buy or use it?

5. Test the idea is the basic idea valid? Are potential customers interested? Test a prototype; modify as needed

6. Find and face the competition? List competitive products & services Understand similarities and differences Will customers value differences?

7. What does it cost to make or do? Who will create it? What will it cost to produce? –Materials –Labor –Distribution

8. How will you get it to the customer? How will you get it to the customer? Who will do it? How long will it take? How will orders be taken ?

9. How will your customer find you? Build and they will come only happens in a movie Until you sell it, it is only a good idea

10. Find the money What are you going to contribute? Who else could contribute? Does your banker like you? (that is not likely to be enough but....)

11. write it all down! Write the business plan –Summary –The Company description –The Product or Service description –The Project to be financed –Management (who & what jobs) –Ownership –Marketing Strategy –Production/Operations –Administration & Financial details

12. Step off the curb -- not the cliff Start with small steps if at all possible No matter what the reality will be different than the plan Embrace Ambiguity – it will be everywhere

Engaging the Entrepreneurial Spirit Donald McNeely Center for Entrepreneurship 350 Simons Hall St. Johns University Serving students, faculty and alums At CSB & SJU

DAVID ROM PRESIDENT, PLATINUM BANK Setting Your Entrepreneurial Expectations

MARK RICHARDS CFO, MAXIMUM COMMUNICATIONS CREATOR, CANDIDATESCHAIR.COM Fit with Your Job objective, 10 Investor Questions and Basic fundraising thoughts

Seeing Yourself in a Start-up Pay/Bonus Equity Energy Risk Start-up Running Rapid Growth ElementsTypes of Companies CandidatesChair.com tool: Evaluating Companies “I own the company” “I want a steady role” “I want a big job” “Quality of life” “The usual trade-off” “How company feels”

Start-up: First Glance From Alan Bignall, CEO,Recon Robotics 1.Solid management team 2.Protectable Intellectual Property 3.Large Addressable Market

Investors – 10 questions 1.Client & Their need 2.How need is solved 3.Unique (e.g. IP) 4.Business Model 5.Reaching clients 6.Competition 7.Operations 8.Required team 9.Growth plan 10.Punchline (e.g. the financials) CC Tool: 10 Questions to Understand a Company

Fundraising – Starting point Investor valuation is always lower Monetization timing is key motivator to stock-only employees (and vice versa) Start-up is short, need cash to grow – expect multiple rounds of funding It’s hard work and don’t expect to own more than 50% when its over CC Tool: Basic Fundraising Terms & Valuation

Valuation: When it goes up Prove you have a product with an interested client base Prove the product works in production (beta test) Go through a limited client rollout Full rollout Greatest need for cash Revenue & Profitability for Venture Capital When you can (or want) to sell

Focus on investors Ability to Invest Experience Interest in Industry Money does not equal a good investor Good for connections Leads for Strategic investors Tipping Point Investors & Partners

Q & A (a.k.a. Stump the Panel)