"Let him that would move the world, first move himself” Socrates Ian Hardcastle - Zhang Guo – Daniel Caballeros – Nicole Camacho – Kimberly Cafarelli

 Good Opportunities address important market needs.  What’s the big problem?  Look to the future.  Important to match capabilities and interests  Intensity of Competition  Mobilize Resources  Money  Support  Attention of Media  Alliance with Power Figures

 Innovations in Energy  Information Technology  Bio-Engineering  Social Media

 Evaluating Standpoints  Team  C.E.O.  Market  Size  Demand  Product/Value proposition for solution  Revenue Valuation  Unique Technology  Competitive Edge  Difficult to execute

 Bootstrapping  Using whatever resource you have at hand  Savings Account  Credit Cards  Grants – Free Money  Catalog of Federal Domestic Assistance  Very Selective  Medicine  Technology

 Bank Loans  Builds creditworthiness  Full Ownership of Business  SBA Loans

 Finding Investors  Venture Capital  Other peoples money  High Risk/High Return

 Not all risk can be removable  Entrepreneurs are people that are willing to take risk  Focus on managing risk instead of taking risk  Two types of risk in a new venture:  The risk of the uncertainty surrounding the business (External Risk)  The Market Risk  Operational Model Risk  Financial Model Risk  The risk of what is at stake if the business fail (Internal Risk)  Opportunity Risk  Financial Risk

 External Risk  The risk surrounding the business  Internal Risk  The risk inside the business

 The Market risk  A large enough market to support the business  Whether the market is growing  What trend exist in the industry  How competition is structure  Distribution of products/services  Operational Model Risk  A business’s operation to deliver goods and services to customers effectively  Financial Model Risk  The “number” issue that determines if a business can work or not

 Opportunity Risk  A risk that comes if the business fails and it allows you to do something else with your time and money  Financial Risk  The tangible value that you and the investor lose if the business fails

 Strategic Planning  Rely on subjective assumptions & qualitative marketing research  Interview potential clients & relevant business partners  Information to be collected in order to decrease level of “uncertainty”  Macro environment  Competitive trends  Consumer behavior trend  Partial SWOT

 Business Model  Branding  Business Website or Webpage  Communication  Public Relations

 Mission statement  Target audiences

 Develop a logo or company name

 “About us” section highlighting the business’s mission statement  Keywords for search optimization

 Send s or letters to clients, influential third-parties, or customers

 Social Media Strategy

Growth is one of the most essential elements to make your new venture successful.

 Organization Life Cycle Model  Churchill & Lewis’ Growth Model

 Introduced in 1972  As new ventures grow they are faced with different opportunities, threats and changes  Each stage must go through a “crisis” in order to move to the next stage of growth.

 Lacks important elements that are needed for a business to grow such as:  Networking and making relationships with clients and other vendors  Securing finances of the company  Keeping up with new technologies  Does not take into consideration the size of the business; one dimensional

 Revised version of Greiner’s model.  Introduced in the early 1980’s  Published in the Harvard Business Review in 1983  Covers more specifics and detail than Greiner’s model, especially relating to management.

 Each stage breaks down into different management factors:  Managerial style  Organizational structure  Extent of formal systems  Major strategic goals  Owner’s involvement

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