Lecture 8 resources and financing 120411

Steve Blank Jon Feiber John Burke Ann Miura-Ko Jerry Engel Jim Hornthal Owen Jacob The Lean LaunchPad Lecture 8: Resources

images by JAM customer segments key partners cost structure revenue streams channels customer relationships key activities key resources value proposition

KEY RESOURCES which resources underpin your business model? which assets are essential?

OFFER Business Model Canvas KEY PARTNERS CHANNELS CUSTOMER RELATIONSHIPS CUSTOMER SEGMENTS REVENUE STREAMS COST STRUCTURE KEY ACTIVITIES KEY RESOURCES

Four Critical Resources ,[object Object],[object Object],[object Object],[object Object]

Physical Resources ,[object Object],[object Object],[object Object]

Physical Resources ,[object Object],[object Object],[object Object],[object Object],[object Object]

Financial Resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Human Resources ,[object Object],[object Object]

Mentors, Teachers, Coaches ,[object Object],[object Object],[object Object],[object Object]

Advisors ,[object Object],[object Object],[object Object],[object Object]

Qualified Employees/Culture ,[object Object]

Trademark protects branding & marks ,[object Object],[object Object],[object Object],[object Object],[object Object]

Copyright protects creative works of authorship ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Trade Secrets ,[object Object],[object Object],[object Object],[object Object]

Contract ,[object Object],[object Object],[object Object],[object Object]

Patents ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What Can be Patented? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Venture Financing See: http://steveblank.com/tools-and-blogs-for-entrepreneurs

What are sources of funding? Banks Angels Super-Angels Micro-cap VC Traditional VC Size of Fund NA NA $5-20M $20-100M $100M+ Size of Investment NA $10-250k $100-500k $250k-1M $2M+ Source of Funds NA Personal Institutional Institutional Institutional Expected returns Interest rate 2-3x 2-3x 3-5x 3-5x Length of commitment Long term ASAP Depends 10 years 10 years Expected ownership NA <10% <15% 10-25% 25-50%

Know what you’re getting into...

80 winners per year* out of 1,500 VC backed deals exit >$50M 80 1,420 PASS FAIL *IT industry only

...The 80 that “Made It” >$750M 8 7 20 45 $500-$750M $250-$500M $50-$250M Legendary Companies

2009 in Perspective IPO M&A 8 7 20 45

Venture Economics ,[object Object],$400M $1.5B 20% return in 6 years $ 7.5B Value creation required $5B

Team Deliverable for Nov 22 nd , 29 th Dec 6 th ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Team Deliverable for Lessons Learned Days Dec 13 th and 14 th ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Lecture 8 resources and financing 120411

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