ENT 526 Lecture 5: ENT 526 NOTES
18 Feb 2019
School
Department
Course
Professor
ENT 526 NOTES
SEAN WISE: WISE WORDS
Three key questions:
What is it that you do?
- 60 seconds to relay info on ur business, the capital you are seeking and why investors
should be interested.
Satisfy four criteria
1. Succinct - under a minute or two;
2. Comprehendible- no technologically specific terminology;
3. Undisputable - makes sense; and
4. Greed inducing - it should be apparent that you can make money.
Why is what you do needed?
- How does it alleviate the “pain”
1. I have too much junk in my basement, that others might want, but I can not sell it to
them myself = eBay
2. Hackers keep trying to infect my computer = Symantec
3. People want accessible e-mail away from their desks = RIM's Blackberry
4. Carrying around a boom box is too cumbersome = Sony's Walkman
What traction do you have?
- Concrete milestones reached and surpassed
1. Management Risk: Can these founders deliver?
2. Magic Risk: Can the product be built? And if so, will it be exponentially better?
3. Market Risk: If the founders deliver and the product works, will anyone buy it?
Who else believes?
- Third party validation
- Sales back up your pitch
o Large leading Corporate entities in your field have partnered with you
o Joint Ventures with other small players
o White Papers from future customers
o Industry reports from large investment banks and research companies
How much do you need?
- "Get enough money to make sure you can make it past the next critical milestone,
whatever that may be."
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
60 seconds to relay info on ur business, the capital you are seeking and why investors should be interested. Satisfy four criteria: succinct - under a minute or two, comprehendible- no technologically specific terminology, undisputable - makes sense; and, greed inducing - it should be apparent that you can make money. Sales back up your pitch: large leading corporate entities in your field have partnered with you, joint ventures with other small players, white papers from future customers. Industry reports from large investment banks and research companies.
