From Idea to ProfitASU Startup School / Stage 1.0: Introduction & Overview

By the end of this lesson, you should be able to:• Understand the process and phases of Startup School

• Be able to differentiate your Why?

• Understand the commitment to this course.

• Understand why ASU has invested in these resources.

• Understand how to increase your success as a startup

entrepreneur.

Before we start this lesson, consider:• What would success look like to you as an entrepreneur?

• What problem are you solving with your product or

service?

• What value are you creating with your product or service?

Startup School is…• Startup School is a 6-part series to help entrepreneurs learn the fundamentals of entrepreneurship. At the end of this series, Entrepreneurs will be able to express their ideas with an excellently crafted elevator pitch. Have completed the Business Model Canvas, Customer Discovery, Built or Identified an MVP and Understand the Cost and Revenue needed to be successful. Finally, we will translate all of this into a Business Plan to execute against.

Aaron D. BareI am an Entrepreneur Educator, making an impact on Entrepreneurs starting businesses.

• Chief Facilitator & Curriculum Design, ASU Startup School

• Former Entrepreneur-in-Residence, Arizona State University

• Aaron has driven over $4.5 billion of value creation through growth initiatives for various Fortune 1000 companies, and has served as CEO for 6 privately funded companies & founder of over a dozen companies.

• 12x Entrepreneur, 100+ websites, 20+ software projects + 15+ apps

• MBA, Thunderbird; Stanford D.School; MA, Indiana; BSc. (Honors) Indiana Tech. Kaospilot. Hyper Island. Singularity University.

Anyone can do it!

Overview

1. OVERVIEW

6. GROWTH

2. 3.4.

5.

Exercise 1

Introduce Yourself

Who? What? Why?

Overview of a Lean Startup

Startup

An organization formed to search for a

repeatable, predictable, scalable &

sustainable business model to apply

innovation.

pay.

Key Definitions

Business Model

How a company creates, delivers and captures value.

Why?ASU Startup School / Stage 1.1

Why?• Simon Sinek is fascinated by the leaders who make impact in the

world, companies and politicians with the capacity to inspire, Simon Sinek has discovered some remarkable patterns in how they think, act and communicate.

• An ethnographer by training, Sinek is an adjunct of the RAND Corporation. He writes and comments regularly for major publications and teaches graduate-level strategic communications at Columbia University.

18 minute video: https://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action?language=en

5 minute video: https://www.youtube.com/watch?v=IPYeCltXpxw

Simon Sinek’sWhy?

Exercise 2

What is your Why?

Share or write down your Why?

The Simplified Business Model CanvasASU Startup School / Stage 1.2

It all starts with an Idea?

Then, you need to find your customer

CUSTOMER

PRODUCT

Then, build your first product

PROFIT

Finally, you need to build a profitable company

Through Growth Hacking, we will share ways to expand each area

of the canvas.

What is this?

How do you reinvent?

• Group in groups of 3-4, 30 minutes.

• Task to complete:• Name Lemonade Stand

Company• Answer questions in

Simplified Business Model Canvas for your teams Lemonade Stand

• Make up any conflicts, define with assumptions

• There are no rules• You will present to class

Innovation Exercise

Today, we will cover the building blocks

Review what groups did in

Checkered Flag Run Activation

* Slide from C&C Founder, Frederick Carlstrom

* Slide from C&C Founder, Frederick Carlstrom

Innovation Exercise

Take an idea you have or a business

you admire and use the Simplified

Business Model Canvas to work

through it, answering all the questions

provided.

Idea

Customer

CUSTOMER

PRODUCT

Product

PROFIT

Profit

The Value Proposition & Elevator Pitch ASU Startup School / Stage 1.3

Pitch your Idea

With your simplified canvas complete,

select three classmates to pitch your

idea and get feedback. *If you are

online, pitch your idea to three friends.

A good Elevator Pitch • 1 sentence about to introduce the idea.

• 1 sentence defining who your customer.

• 1 sentence defining what your product does.

• 1 sentence about how this will be profitable.

• 1 sentence about what you are looking for.

Give feedback on

other pitches

Write down or now take the class and

ask for feedback on their pitch, identify

good pitches, where they could be

improved.

Homework: Elevator Pitch

• As a result of this class, go out and pitch your idea to 10 strangers and bring your feedback to the next class to have ready to share.

Why does it matter?

Getting started is half the battle, as

others gain interest in your idea and as

you get real feedback, we will be able

to dive deeper on brainstorming the

idea continue to shape the idea for

success.

.

Continue to seek

feedback

What is your value? Who is your

customer? What product will be

valuable? What profit do you make per

product?

Summary and Next Steps

What we will learn in the next 5 classes:• It starts with an Idea

• Find your Customer

• Build your Product

• Build a Profitable Company

• Grow your Business

At the end of this course, you will have:• Completed many Iterations of the Business Model Canvas

• Completed of a Successful 30-Second Elevator Pitch

• Created of a Customer Discovery Analysis

• Developed a Minimum Viable Product

• Created of a Profitable Company

• Understanding of a Fundable Business Plan

• Have tools to grow your company

Additional materials

Let’s watch Simon Sinek’s TED talk- Here’s the full 18 minute presentation. What’s your definition of a “startup” - http://goo.gl/s1qVJy

Articulate which type of venture you’d like to launch and why -http://blogs.wsj.com/accelerators/2013/06/24/steve-blank-the-6-types-of-startups-2/Establish a free Disciplined Entrepreneurship Toolbox venture profile and complete the introductory tasks - http://detoolbox.com/Select an initial name for your venture - http://mashable.com/2013/07/20/startup-name/Let’s hear from Eric Ries (video) about the most fundamental question all startups should ask.

How to use Homework Guide and Facilitator Guide. Please DELETE Slide after use.

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