creating and developing a sustainable business
DESCRIPTION
Speaker: Harvey Coleman, MaRS Mentor Harvey shares the lessons he’s learned from creating and directing IT companies. This is part of a series of “Lived It” lectures in the program, sessions that offer a great opportunity to hear firsthand and ask questions about the experience of starting up an innovative company – from people who have seen it and done it. Part of the CIBC Presents Entrepreneurship 101 Lecture series. For more information, including video, please see: http://www.marsdd.com/Events/Event-Calendar/Ent101/2009/lived-it-lecture-04082009.htmlTRANSCRIPT
Harvey Coleman [email protected] 416 918 0944
Autonomics Palm Computing Xaar ARM Dell Canada Autros Stream
SOS Knowledge Park CCUE Mass Auction Exchange Corp’n Thriftopia Softshell etc…
Product
People
Cash
Be hard on yourself (Answer, So what?) Disruptive, with IP
WIFM, so differentiator (Benefit in their terms) or large niche
Produce V1 Watch out for Large Customer syndrome
Watch our for permanent beta
Have a Roadmap
Really understand your markets (timing/ahead of the market)
Know how you intend to monetize
A Launch is not an end in itself
The most important People lend money to successful people Respect not love S/H Agreement:
Shares for REAL value
Marketing and Finance as well as Product
Is there a market out there to preserve cash Network No longer YOUR business Have a Plan:
Not a 100 pages
Immediately capture attention
It will be wrong
Understand your needs/Don’t keep on going back
Marketing costs real money
Understand your model = focus and priorities
It costs X2 and Revenue is 1/2
Yes its King, but…
Sell, sell, sell Customer is king:
Includes your staff Listen Respond (sundown) Want you to succeed Customer experience (18:1) Create Communities
The impossible is possible Guard your cash Set targets/Metricise your business All Manage Time