ENTREPRENEURSHIP BOOT-CAMPINSTRUCTOR: VISHAL KIRTI

DATE: MAR. 20,2016

SESSION 5

TIMELINE

• Feb. 21: What is Creativity? What is my Passion?

• Feb. 28: Behavior Traits of a Successful Entrepreneur (Mayor of Livermore- John Marchand, Saratoga

Councilmember- Rishi Kumar)

• Mar. 6: Turning your passion into a business opportunity

• Mar. 13: Steps needed for your startup…1,2,3. GO

• Mar. 20: Financials of the business opportunity (Please sign in)

• Mar. 27: Presentation skills, successful pitches, what ideas got funded

• Apr. 3: No class. Spring Break

• Apr. 10: Basics of App Design

• Apr. 17: Pitch Practice

• Apr. 24: Pitch your business plan to VCs (12 spots will be available)

• A certificate and award for top 3 groups

• Implementation begins. Mentoring offered in the following weekly sessions

THE BASICS OF APP/WEB BUILDING

• Session on April 10th

• Please don’t miss this.

• Here @ Livermore Temple 3-4 pm

BACK UP INSTRUCTORS

• Madhuri Chopurala

• Mallik Bathula

• Thank You

PARENT COACHES PER TEAM

•We need two parents per team

• I will send out a google spreadsheet

• Parents- please write your email/phone/name against the team you

would like to coach

• So far,

• We have 14 teams

• And 14 parent coaches/mentors/leads

• That includes Ajay and Anurag who I haven’t spoken to yet

• We need at least14 more coaches

PITCH DAY- APRIL 24TH

• 10 minutes per team

• 12 spots

• There are currently 14 teams

• Please select one presenter

• Goal is to get feedback on your ideas

BUSINESS PLAN TEMPLATE

• See the Facebook post from me titled “Livermore

announcement”

• Same template across the camps

•Use that for your plan

MODULE 2 METHODOLOGY

• FAQs- http://www.siliconvalleycoders.org/faq.html

• Kids meet every week on Sundays 3-4 pm here.

• Each team presents

• Progress

• Problem Area

• Parent Coaches, Instructors, back up instructors and mentors guide

• The two parent coaches can help facilitate the meetings during the week

• Need to put roughly10 hours/week for implementing

MODULE 3- ANNUAL TECH DAY (JUNE 12)

• 3 winners based on the progress made during the implementation phase

• How are the pitches evaluated at the Silicon Valley Tech Day by the judges panel?

Each presentation is 5 minutes long

There are 5 components to the evaluation:

- Team work and collaboration: Is this team successful because of strong teaming.

- Idea: How "gripping" is the startup idea proposed by the team

- Business Model: Has the team given the business components enough thought

- Product demo: Where is the product today based on the business pitch that was

developed

- Q&A responses: how did the team respond to answering questions

FINANCIALS OF THE BUSINESS OPPORTUNITY

SESSION 5

RECAP

• Creativity & Passion

• Behavior Traits

• Converting Your Passion Into a Business Plan

• Steps- Incorporate, How To Market, Exit Events

• Today- Financials

COST

• Research & Development Cost

• Capital Expenditure- Infrastructure etc.

• COGS- Cost of Goods Sold

• Operations Cost

• (General & Administrative Expense)- G&A- includes salaries of non-sales employees

• Sales & Marketing Cost- includes salaries of sales employees

• Interest

• Taxes

REVENUE

• Different models (eg Apps)

• B2C: App Free (With Advertising)

• B2B: Subscription & Licensing

• B2C: Subscription

• B2C: Paid App

• B2C: Free(With In-App Purchases)

• B2C: Free but special features are paid

EQUATIONS

• Gross Profit= Revenue – COGS

• EBIT (Earnings Before Interest & Taxes)= Gross Profit- Operating Expenses

• Net Income= EBIT – Interest - Taxes

EXAMPLE OF PROFIT & LOSS

PROFIT & LOSS AND BALANCE SHEET

• Profit & Loss (P&L)

• Please project for the next 3 years

• For the 1st year, project quarterly if you can

• Balance Sheet

• How much is a company worth?

• Not needed for the pitch.

• Very important after the company has run for a while

HOMEWORK

• Enter Your Ideas Into: http://tinyurl.com/EnterYourIdea

• Parent Coaches/Mentors- Sign up on the sheet