课件文稿分析hongsan

1、 THINK BIGBUT START SMALLFEBRUARY 27, 2008FROM IDEA TO BUSINESS PLANIDENTIFY A COMPELLING MARKET NEEDHUMBLE BEGINNINGS (THINK BIG, START SMALL)WHAT WE HOPE TO HEAR FIRSTHI-TECH MARKETING CAN BE DIFFICULT. SOME RESOURCESA COUPLE OF ANECDOTAL EXAMPLESWHAT WE HEAR WAY TOO OFTENGETTING TO TECHNOLOGY, TE

2、AM, and FINANCEMEETING MANAGEMENT WITH VCs SOME COMMON PITFALLSENJOYING THE JOURNEYHUMBLE BEGINNINGSLarry & SergeySteve Chad JawedJerry & DavidHUMBLE BEGINNINGSSteve & SteveTripSandy & LenNEW PRODUCT STRATEGYWHAT WE HOPE TO HEAR FIRST2.MARKETSTRATEGY(UNFAIRADVANTAGE)3.PRODUCT&TECHNOLOGY4.DEFININGTEA

3、M5.CAPITALEFFICIENCYENTREPRENEURS CHALLENGE1.MARKETPOSITIONINGTHE BIGGEST CHALLENGE. A.K.A.THE “ELEVATOR” PITCH1.MARKETPOSITIONINGWe networks networks.Sandy Lerner/Len BozakCisco“For target customers Who have compelling reason to buy Our product is a new product category That provides key benefit (w

4、hich solves problem) Unlike competitor in new product category We have key point of differentiation *Source: Crossing the ChasmHELP FROM GEOFFREY MOORE1.MARKETPOSITIONINGFor movie producers Who have post-production special effects Silicon Graphics provides computer workstations That integrates digit

5、al fantasies with film footage Unlike IBM or Sun Microsystems SGI has made a no compromise commitment to meeting film makers post-production needs. *Source: Crossing the ChasmTWO DECLARITIVE SENTENCES1.MARKETPOSITIONINGSTRUCTURESPEEDLEVERAGETRENDSVITAMIN?ORASPIRIN?HOWPLUGGEDIN ARE YOU?2.MARKETSTRATE

6、GYINTIMATE WITH TARGET MARKET & BULLSEYE CUSTOMER?CHANGE OR CREATE CATEGORY?MARKET DYNAMICSJOIN EXISTING CATEGORYDEFINE NEW CATEGORYLarge Size, Strong GrowthSmall Size, Explosive GrowthADVANTAGEPrice/PerformanceIP, Functionality, BrandCUSTOMERSOpportunisticLoyalMARKET SHARELower (often less than 10%

7、)Higher (often greater than 50%)GROSS MARGINLower (often less than 50%)Higher (often greater than 65%)ACHIEVABLE GOALAcquisitionPublic CompanyLEGACYSingle Generation ReignDynasty2.MARKETSTRATEGYYOUR PLAN OF ATTACK?2.MARKETSTRATEGYCREDIBLE DIFFERENTIATION?Y1Competitor 1 Competitor 2Competitor 3Compet

8、itor 4Competitor 5Competitor 6Competitor 7Competitor 8Competitor 9Competitor 10Competitor 11Y2X1X2New Co 2.MARKETSTRATEGY3.PRODUCT&TECHNOLOGYTECHNOLOGYPARTNERSHIPSSIMPLICITYBUSINESS PROCESSDOMAIN KNOWLEDGEDEFENSIBLE BARRIERS?NETWORK EFFECT4.DEFININGTEAMNewCo. 555 Main StreetTim Jones Anywhere, USACE

9、O (415) 555-5552 NewCo. 555 Main StreetBarney Baker Anywhere, USACFO (415) 555-5553 NewCo. 555 Main StreetAjay Singh Anywhere, USACOO (415) 555-5554 NewCo. 555 Main StreetVlad Krunis Anywhere, USAGeneral Counsel (415) 555-5555 NewCo. 555 Main StreetKaren Williams Anywhere, USAPresident (415) 555-555

10、6 NewCo. 555 Main StreetBob Smith Anywhere, USAChairman (415) 555-5552 MAGNETS? SCARS? PASSION?CENTRAL CASTING4.DEFININGTEAMDO THE #S MAKE SENSE?GROSS MARGINREVENUE TRAJECTORYEBITDACASH REQUIREMENT VS. OPEX%S & RATIOS5.CAPITALEFFICIENCYCASH FLOW TO BREAK EVENGRASPING UNIT ECONOMICS?ABANDONED CART RA

11、TECOST OF CUSTOMER ACQUISITIONLIFETIME VALUEPRODUCT/BRAND ASSORTMENTINCENTIVE PROGRAMSACTIVE CUSTOMERS/MO.CUSTOMER CHURN/MO.FREQUENCY PURCHASE TRENDSNEW CUSTOMERS/MO.TICKET SIZE PURCHASE TRENDS#ITEMS PURCHASE TRENDS# CLICKS TO CHECK-OUTREVENUE BY DAY/WEEK/SEASONGROSS PROFIT/TRANSACTIONCOST PER SKUSI

12、NVENTORY TURNSSHRINKAGEPICK RATESDELIVERY TIMEMRRCOST OF CUSTOMER SERVICECUSTOMER CONTACT RATE5.CAPITALEFFICIENCYTAKES LONGER, COSTS MORE5.CAPITALEFFICIENCYFINANCIALS SAY A GREAT DEALABOUT HOW YOU THINKNOT A TIME TO BE NAVE UNREALISTIC OR MISLEADINGFRUGALITYMARKET STRATEGYSALES TACTICS5.CAPITALEFFIC

13、IENCYMARKET SIZEMARKETUPTAKEMARKETVELOCITYREALISMMEETING MANAGING WITH VCSCHAOS?CONTROLLED?MOST COMMON PITFALLSGORILLA ALUMNI & AIRCRAFT CARRIERSLACK OF FOCUSOPPORTUNITY EXISTS BEFORE THE MARKET ARRIVESTOP HEAVYCOMPELLING?, UNIQUE?SALES MODEL AND ASP DIVERGENCEINCINERATOR SCHEMESMISREAD TEA LEAVESCL

14、UTTERED MARKETSCAPITAL INTENSIVESLOPPY DUE DILIGENCEMOMENTUM INVESTINGWEAK SYNDICATEUNPREDICTABLE DIRECTORSDAZZLED BY SCIENCEBOY SCOUT REFERENCESTOO MUCH MONEYLONG EVALUATION CYCLESSLOW PAYING CUSTOMERSGOING NATIVETOO EARLYTOO LATEDECEIVED BY COMPARABLESDILUTIVE IPOsFEELING TOO WEAKFEELING TOO STRON

15、GPOOR CUSTOMER SELECTIONSTRETCHED TOO THINNOT ADDRESSING A TRUE PAINCANT ARTICULATE THE BUSINESSSMALL GROSS MARGINSSMALLER OPERATING MARGINSNO MODEL FOR MAKING MONEYA FEATURE, NOT A PRODUCTA PRODUCT, NOT A BUSINESSLACK OPERATING CONTROLSGROWING TOO FASTWRONG DNABAD LISTENERSPOOR CUSTOMER SERVICEDECE

16、IVED BY SUCCESSESDRUNKEN PARADE LEADERSEYEBALLS CONVERTS TO $sCAPEX CONVERTS TO $sIGNORING FUNDAMENTALSREPEATING HISTORYLEARN FROM OUR MISTAKESWHAT WE LOOK FOR IN A PLAN1. UNIQUE VALUE PROPOSITION/MARKET POSITIONING CLEAR, CONCISE, ABOVE THE NOISE; CUSTOMER VALIDATION?2. EXPLOSIVE MARKET SECTORS, FU

17、LL OF DISCONTINUITIES AMBIGUITY AND CONFUSION ARE GOOD. HOW BIG? DEFINING? STRUCTURE/ACCESSIBILITY? READINESS? DISCONTINUITYWHATS DIFFERENT? VALUE CAPTURE POTENTIAL? NO COMPETITION OFTEN NO MARKET; ENTRENCHED PLAYERS: INNOVATORS DILEMMA? STARTUPS: HOW MANY? OUR TEAM? SOURCES FOR DIFFERENTIATION?3. BREAKTHROUGH PRODUCTS/TECHNOLOGY SOURCES FOR DEEP SEPARATION AND ADVANTAGE? ORDER OF MAGNITUDE? DEGREE OF DIFFICULTY? ADOPTABILITY? COMPLETENESS