ENT 526 Lecture Notes - Lecture 8: Venture Capital, Grinch, Average Revenue Per User
1 Feb 2016
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1/3 of exam will be content from prior to week 8. 2/3 of exam will be content from week 8 and onwards. Start business planning when starting to think about a new venture. Focus on critical aspects of the business model and follow basic/common plan formats o. Keep in mind the business plan is a living document. it will continue to evolve as you progress. A tagline creates a unifying plot line that organizes your thinking. Keep your plan as close to the general format as possible. Elevator pitch = customer pain + start-up solution. Irrefutable the pain statement should not be subjective. Greed inducing should illustrate how an investor can make money. Easily understandable - simple enough that both an investor and your grandmother. Succinct short enough to be said in 3 to 4 sentences or 1 to 2 minutes. Tells the ideal customer why they should buy from you and not from the competition (unique differentiation).
