285B Week 5 Lecture 2 TD

285B Week 5 Lecture 2 TD - ENG 185B/285B New Venture...

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Click to edit Master subtitle style ENG 185B/285B New Venture Creation: Entrepreneurship Partnering
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ENGR185B/285B Week 5 Lecture 2 22 Today’s Roadmap Assignment 6 Due Financial Modeling – Waterfall Approach Partnering infoChachkie Readings Real World Example: Oracle
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Click to edit Master subtitle style “Art of the Start” Quiz Chapters 5 & 6
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ENGR185B/285B Week 5 Lecture 2 44 Waterfall Financial Modeling Ongoing comparison of actual results with forecast Track variances – even as pro forma assumptions change Investor love this analysis Also a good tool to help drive accountability This waterfall template created by Josh Kopelman of First Round Capital. Feel free to distribute freely with attribution.
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ENGR185B/285B Week 5 Lecture 2 55 Kawasaki – Chapter 8 Partnering Focus on “Real” Partnerships – Spreadsheet Impact Accelerate cash flow, increase revenue, reduce costs Ensure entire Partner team buys in JG: Not always possible to influence entire Partner team JG: Ensure YOUR entire team is behind the deal Talk First – Draft Agreement Second Properly translate “Big Company Speak” “Marketing loves it” means “Engineering will hate it” Art of Email Did anyone get anything out of this? E.g., “DON’T USE ALL CAPS”…
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ENGR185B/285B Week 5 Lecture 2 66 Kawasaki – Chapter 8 Partnering Art of Schmoozing (also see “Art of Being a Mensch”) Re-read this mini-chapter; Guy is the king of Schmoozing Get out Ask questions – then shut up Always follow-up within 24-hours!!!!!!!!!!!!!!!!!!! JG: If you can’t respond within 24-hours, apologize once you do follow-up Make it easy to get in touch with you Unveil your passions Read voraciously Return favors & ask for favors
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ENGR185B/285B Week 5 Lecture 2 77 Greathouse – Partnering Why Partner? Friends are better than enemies As many allies on the playground as possible Vest third parties in your success Establishes credibility You never know where the relationship will take you Additional revenue sources, product ideas, etc. New customers, partners, suppliers, etc. Most acquisitions start as partnerships
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ENGR185B/285B Week 5 Lecture 2 88 Greathouse – Partnering Find Internal Champions More “wanna be’s” than real champions Run if someone says: “That’s a no-brainer”, “I can get that done in a week”, etc. Emphasize Execution The only ‘good deal’ is one that creates values for both parties Keep your execution team in the loop as deal is crafted
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ENGR185B/285B Week 5 Lecture 2 99 Greathouse – Partnering Mutual 30-day Out Clause The deal should survive on its own Don’t try to lock your partner in Steppingstone Approach Often first partner with lower tier company; early partner(s) may not be ‘ideal’ Leverage each existing partnership to move up the food chain Key is to have a steppingstone strategy
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ENGR185B/285B Week 5 Lecture 2 1010 Greathouse – Partnering
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This note was uploaded on 05/02/2010 for the course ENGR 185b taught by Professor Staff during the Fall '08 term at UCSB.

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285B Week 5 Lecture 2 TD - ENG 185B/285B New Venture...

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