For next week, determine the valuation of the company.

Meet the VC, ask for money how much is needed for the next milestone and how much is the share you’re willing to give.

Workshop

Better communication

Communicating the message of the product/service better

Create a presentation deck

Communicate clearly about the hypothesis

Clarity is more important than certainty

Are you clear about what you know about your business today?

Huge companies spending a lot of money just to get their message to you.

Huge companies are afraid of disruptions from startups.

Acquisition Strategy

Funnel Drawing

Recap of last week’s topic: funding lifecycle

Designing the Product/Service to see Product-Market Fit: metrics is Desirability (how the customers feel about your solution? Would they recommend the product to other people, if not, why not? On a scale of 1 to 10. To see if there is a strong Product-Market Fit to the point that they would recommend.)

Designing the Business (channels, acquisitions, delivery) to see Feasibility and Financial Viability; this is where revenue will come in.

Validation stage: Learning not Earning

Prof. Mau

Budgeting

• Quantitative representation of your strategy

Master Budget

• Capex (Capital Expenditures)
  • Building
  • Necessary equipment
• Opex (Operating Budgets)

Questions to ask

• What must the entity have?
• Can the entity afford it?
• Is it worth it?

Hypothesis-driven Entrepreneurship

Revenue Model

AIDA – test hypothesis based on it