Setting Course

Photo By maikel_nai

Creating a path in our lives doesn’t always come as a choice.  Some of us find ourselves drifting into a way of life.  Regardless, we are all faced with the day when we evaluate what we we really want in life.  Recently I spoke at a conference, and I couldn’t help but notice how much we trend every bit of life.  We validated past trends and looked at product-based evaluations, and how a manufacture can compete in a free trade world with essentially no borders.  I was amazed at how they created categories.  There was one chart that presented us with a snapshot of where an individual fit in as a business. 

The lending institutions create models that group businesses into specific industries. Timing is very important, and bank experts will trend the economy and lend money based on what industry is on the up swing.  This is why as an entrepreneur, it is important to interview many banks- you would be surprised how different each bank’s lending patterns can be.  

But what was really interesting to me was the the topic of “competition”.  The first thing they determined in the conference was that competition drives prices down, referring to them as “pricing wars”.  The other thing that was addressed was service- the fact that people place more value on having a positive experience than they do on saving a dollar. And what I found interesting was the look on everyone’s faces as they listened to how tough it was out there from all areas- commodities, goods, service, and experience.

The reality is, if you combine a great product with an incredible experience, the price really doesn’t matter to the consumer.  But because banks look at trends, the business owner gets pulled into these price wars, driving their quality and service down as they try to compete within their industry.   As a business owner, having the ability to design a process that validates your industry trends is critical (but also very frustrating!).  

Find out what you want to do in life and then determine what you are willing to go through in order to get it.  In recent years, the rules in business have changed so much that there almost aren’t any.  Years ago, an entrepreneur had to have a business plan that took months to design (and it actually helped them understand their business better), but today, lending institutions will let you know what your business is missing based on their model, not yours.   Today, having a vision, validating it, and going after it is far more important than designing the grandiose business plan.  

Things change fast- you have to spend more time staying ahead of the curve, rather than trying to fit into it.  You never see Rolex or Rolls Royce having a blow-out sale because they are the trendsetters, and with our technology today, you can be one as well.   Make sure you validate what you are doing; look at it from the outside, and if you are still excited about it, then go get it!  Make the experience the value in your day- it can open a whole new world, one that you never knew existed. 

 And don’t forget to call your mother!

Now what?

I mentioned earlier that school has got me to a position that I can make educated decisions, like starting a business. The week after we finished the business plan I came across a website advertising ‘”local small business help” looked through the site and they offer free consultation to entrepreneurs and working professionals. I decided to give them a try and booked a date for a free consultation. Probably the best thing I could have done!

"Kick Start Your Startup" Workshop

SVForum’s “Kick Start Your Startup” Workshop
Tuesday, September 27, 2011
Palo Alto, CA

This workshop is for new serious startup entrepreneurs or entrepreneurs who need a refresher course on the fundamentals of developing their business plan and/or wanting to grow their company, so that they can maximize their chances of attracting an outside investor for the first time.

During this workshop, you will learn how to organize your financials, craft a due-diligence legal framework, asses your market opportunity and perfect your pitch before running the funding gauntlet. A panel of successful entrepreneurs will share their experiences, challenges and insights into building and securing funding for their ventures.

Please come with your 60 second pitch and your chance to be one of three selected to pitch to the panel of VCs at the end of the day! This workshop is not for the seasoned entrepreneur.

Quotes from Past Attendees
“Attending the SVForum Startup Workshop was instrumental for us, providing several key introductions and ultimately a new addition to our advisory board.” Ryan Kennedy, Conga

Agenda:

8:15am

Registration and Continental Breakfast

9:00am

Crafting a Fundable Financial Roadmap
As an entrepreneur, steering your startup on the financial path to success needs an effective financial roadmap and a thorough understanding of how it will unfold over the next five years. In this presentation, Anthony Nassar, Founder and Principal, Venture Momentum, will share a systematic methodology for developing a robust financial model.

10:30am

Morning Break

10:45am

Crafting a Due Diligence-Ready Legal Framework
Curtis Mo, DLA Piper will help entrepreneurs avoid common mistakes they make when managing the legal aspects of their startup. He will share best practices in building and maintaining a due diligence-ready legal framework.

11:45am

Assessing and Sizing Your Market Opportunity
One of the top reasons for a new product failure is inadequate market analysis, yet most entrepreneurs bypass this step.
Steve Tennant, Tennant Consulting.

12:45pm

Working Lunch - Pitching to the Group
15 one-minute elevator pitches presented, with the top 3 chosen to pitch to the final panel at 4:00pm.

1:45pm

Developing a Compelling Pitch: 13 Slides that will Hook Investors
Nathan Gold, Founder of The Demo Coach will lead this interactive session on the “infamous”13 slide presentation.

2:45pm

Afternoon Break

3:00pm

Entrepreneur Panel
Successful entrepreneurs will share their experiences, challenges and insights into building and securing funding for their ventures and engage in an interactive Q&A session.
Panelists include K.V. Rao, Zuora
Moderated by:
Arlene Chan, Moss Adams

4:00pm

Investors Panel : The Voice of Experience
Early stage investors will share their experiences, challenges and insights into building and securing funding. They will also listen to pitches and engage in an interactive Q&A session.
Panelists include John McIntrye, Citrix Startup Accelerator, Rick Yang, NEA.
Moderated by:
Herman A. White, Jr., Technology Credit Union

5:15pm

Wine Reception
Sponsored by Technology Credit Union

Location: DLA Piper, 2000 University Avenue, Palo Alto, CA

Online Registration: $150 SVForum Members; $200 Non-Members

Sponsor:

Wine Reception Sponsor: