Jon Obermeyer: Lunch Speaker – Stacking the Odds for Success: A Six­ Stage Process to Articulate and Promote Your  Entrepreneurial Idea.

2 kinds of Entrepreneurship
Lifestyle (small, personal) vs High Growth (corporate)

NOTES:

• Identify a VERY Large problem tht needs to be solved
• Not necessarily something nobody is doing… some competition good.. just identify weakness and make it better
• Libraries Ideal for “Ubiquitous Entrepreneurship”
• Growth the idea to be self sustaining beyond your tenure (Exit)
• People Dont like to Adopt New Things

6 Steps

Problem -> Solution -> Product
Team -> Funding -> Exit

1) Problem ..

Spend Lots of Time (most) identifying a PROBLEM

• data + Research
• articulate it succinctly
• cite credible sources

2) Solution

• Benefits?
• Why is it unique?
• Why worth investigating?

3) Product

• Tech Specs
• Scales and Scope
• Design for Future (years out) … where is the product going

4) Team

• Functional Expertise
• Domain Expertise
• Initiative Person (worker bee)
• Political Person
• Succession .. who will take over
• Then do “Gap Analysis” – who is missing
• Then .. get them on advisory board or as a vendor

5) Funding

• Entrepreneurs Embrace Risk
• Investors Reduce Risk
• Mock up Pro-forma Budget (3-5 years)
• OK to Lose $

6) Exit

• Know logical conclusion (ie. solved problem, failure, can carry on without you)
• Exits can build credibility

See Six Step Template (Business Plan on One Page) – also develop “elevator pitch” version (clear, concise, sharable)

Look into “Venture Philanthropy” – “Entrepreneurial Philanthropy”