Falcon's Invoice Discounting: Your Path to Prosperity
Ideation To Validation
1. Ankur Gulati Chief Financial Officer, easySquareFeet.com Delivered on 21 st Aug. at: Ideaz 08, The Entrepreneurship Cell, IIT Bombay Ideation to Validation: Hitting the bull’s eye
2. What do these terms really mean? Personal experiences The next Richard Branson How to think about go-to-market?
3. What do these terms really mean? Personal experiences The next Richard Branson How to think about go-to-market?
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6. THINK OF VALIDATION AS THE FIRST ROUND IN A MULTIPLE-ROUND DART GAME “ Were you smoking dope?” “ Nice try, maybe it’s a bad day today” “ How much equity for $1 million?” ROUND 1 A B C A B C Ideation Feasibility checks Full-blown Validation Funding/ Team Execution 1 2 3 4 5
7. THREE POSSIBLE END-STATES OF VALIDATION Increasing risk, decreasing analysis C 1 VC Route: You have convinced the VC to invest a significant amount of money (>$0.5 million) 2 Pilot Route: You conducted a pilot project in controlled surroundings and it was a reasonable success 3 Jumping-in Route: You left your job/ditched your college and jumped-in full time with no regrets
8. THREE KEY ENABLING MINDSETS FOR RIGOROUS VALIDATION 1 The “Action” mind-set: Validation is not about knowing, thinking and being willing. It’s about doing. 2 The “Change” mind-set: Be ready to adapt. Don’t love your idea too much. 3 The “Facts” mind-set: Don’t nuke Iraq because of your gut-instinct. Be fact-based. 1
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10. OUTLINE VENTURE BRIEF 6 - 10 page venture brief APPLY SECOND FILTER: Refine the Idea – Evaluate Ideas in a Six- to Ten-Page Venture Brief Topic Description Executive summary Key points of venture brief 1 Market analysis Provides a brief summary of potential market in terms of size, its state of development, customers, and competitors 2 Product and services Provides brief summary of the potential products and services 3 Potential forward scenarios Describes forward strategies and organizational resource requirements 4 Next steps Describes next steps 5 Financial analysis Estimates cost and benefits for this venture 6 Venture brief is created in 2-4 weeks by idea evaluation team
11. What do these terms really mean? Personal experiences The next Richard Branson How to think about go-to-market?
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13. What do these terms really mean? Personal experiences The next Richard Branson How to think about go-to-market?
14. What do these terms really mean? Personal experiences The next Richard Branson How to think about go-to-market?
15. WHAT IS A GO-TO-MARKET STRATEGY? Define relevant segments Design actionable circle specific “Go To Market” strategies Size & prioritize segments to identify champion segments Identify a preliminary positioning approach 1 2 3 4
