Class Notes (838,800)
Canada (511,100)
ENT 526 (87)
Sean Wise (54)
Lecture 4

ENT 526 Week 4

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Entrepreneurship and Strategy
ENT 526
Sean Wise

Week 4 Notes Review  Elevator Pitch o Identification of pain o Value proposition o Irrefutable o Easy understandable o Greed inducing  Because everyone wants to make money  Reward Risk Ratio o Succinct  Too long it might be confusing o Start with a pain point (don’t need to go to the store), then value (buy it from home) –ITUNES o ON MIDTERM  7 P’s o People  Right Fit  Determined and adaptable  High Adversity Quotient (ON MIDTERM)  Internal locus of control (Google boys)  The Talent Triangle  Domain Knowledge – Knowledge of the industry  Operational Experience – Shipping, etc.  Business Acumen- Rent, Good judgment, etc. o Pain  Bigger pain is better  Lots of people suffering little problems  Large markets  High elastic – small change in price  high change in demand  Highly inelastic – Oxygen, insulin  Large change in price  small change in demand o Product  10x Rule  in order to displace market leaders, product must be 10x better o CAGR – How fast the market is growing Lecture  Capital Invested is 100 000 (ON EXAM)  Post Money Valuation – How much your company is worth a day after the deal – 2 Mill  Pre Money Valuation – How much your company is worth today (before deal) – 1.9 Mill  Crowdfunding o Individual
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