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Creating and Developing a Sustainable Business

Date post: 02-Nov-2014
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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.html
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Transcript
Page 1: Creating and Developing a Sustainable Business
Page 2: Creating and Developing a Sustainable Business

Harvey Coleman [email protected] 416 918 0944

Page 3: Creating and Developing a Sustainable Business

  Autonomics   Palm Computing   Xaar   ARM   Dell Canada   Autros   Stream

  SOS   Knowledge Park   CCUE   Mass   Auction Exchange Corp’n   Thriftopia   Softshell   etc…

Page 4: Creating and Developing a Sustainable Business

  Product

  People

  Cash

Page 5: Creating and Developing a Sustainable Business

  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

Page 6: Creating and Developing a Sustainable Business

  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

Page 7: Creating and Developing a Sustainable Business

  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…

Page 8: Creating and Developing a Sustainable Business

  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

Page 9: Creating and Developing a Sustainable Business

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