Finals

• Intellectual property


  A group of separable intangible rights that give protection to creativity
• Intellectual property risk matrix

  • Low risk: Patent not widely used or distributed
  • Medium risk: Patent widely used or distributed
  • High risk: Patent widely used, infringed in the past
  • Very high risk: Patent widely used, infringed multiple times
• Unique selling points (USPs)


  Business ideas with unique elements
• Types of intellectual property protection

  • Patent: Excludes others from exploiting ideas
  • Trademark: Signs that distinguish goods/services
  • Copyright: Right given to authors/creators
• Benefits of protecting a business idea

  • Enhances market value
  • Turns idea into profit making assets
  • Enables marketing
  • Enhances export opportunities
• Trade secret


  Confidential information that is commercially valuable and treated as a secret, giving its owner a competitive advantage
• Marketing plan


  Document/set of documents that outlines platform or methods a company will use to reach their target market and an advertising strategy to generate leads
• Functions and components of a marketing plan

  • Market research to support pricing and new market entries
  • Tailored messaging targeting demographics and geographic areas
  • Platform selection for product/service promotion
  • Metrics to measure marketing results and reporting timelines
• Marketing plan vs marketing strategy

  Marketing plan outlines operations, marketing strategy outlines value proposition
• Types of marketing plans

  • New product launch
  • Social media
  • Time-based (quarterly/annual)
• How to write a marketing plan

  • Set KPIs
  • Identify target market
  • Strategy and execution
  • Set budget
  • Adjust plan
• Marketing mix and the 7Ps of marketing

  • Product (or Service)
  • Price
  • Promotion
  • People
  • Place
  • Packaging
  • Process
• Product-led marketing


  Prioritizing products to make them the best and optimizing product lines
• Components of successful product-led marketing

  • Get out of the way
  • Be an expert
  • Always be helping (content marketing)
  • Share authentic stories
  • Grow a product mindset
• Business plan


  Document that outlines a company's goals, strategies to achieve them, and timeframe
• Steps in making a business plan

  • Draft executive summary
  • Write company description
  • Brand values and goals
  • Vision and mission statements
  • Perform market analysis
  • Outline management and organization
  • List products and services
  • Perform customer segmentation
  • Define marketing plan
  • Make financial plan
• Components of company description

  • Business structure
  • Business model
  • Industry
  • Vision, mission, and value proposition
  • Background
  • Business objectives
  • Team
• Factors in competitive analysis

  • Cost differentiation
  • Differentiation
  • Segmentation
• Major views of financials

  • Income statements
  • Balance sheets
  • Cash flow statements
• Types of organizational planning

  • Strategic planning
  • Tactical planning
  • Operational planning
  • Contingency planning
• Steps in organizational planning

  • Develop strategic plan
  • Translate into tactical plan
  • Create operational plan
  • Execute plan
  • Monitor progress and adjust
• Financial plan


  Document that includes a person's current financial circumstances and short/long term monetary goals
• Calculating net worth


  Total assets - Total liabilities
• Asset


  Property of value that you own
• Liability


  Property of value that you owe
• Cash flow


  Money you take measured against the money you spend
• Key components of a financial plan


  • Business plan and objectives
  • Budgeting and financial forecasting
  • Cash flow management
  • Capital expenditure planning
  • Debt and financing strategy
  • Profitability analysis
  • Risk management and contingency planning
• Sources of debt financing

  • Commercial banks
  • Commercial financing companies
  • Leasing companies
  • State/local government lending programs
  • Trade credit and peer to peer lending
• Sources of equity capital

  • Private/angel investors
  • Institutional venture capital firms
  • Strategic investors and corporate venture capitalists
  • Overseas investors
  • Intermediaries
• Main sources of capital

  • Equity capital
  • Debt capital
  • Retained earnings
• Informal risk capital


  Virtually wealthy investors (business angels) seeking equity-type investment opportunities
• Criteria for evaluating financing alternatives

  • Amount and timing of funds required
  • Projected company sales and growth
• Types of funding


  • Early stage (seed capital, startup)
  • Development (second, third, fourth stage)
  • Acquisition (traditional, leveraged buyouts, going private)
• Types of risk capital markets

  • Informal risk capital market
  • Venture capital market
  • Public-equity market
• Criteria for committing venture capital


  • Strong management team
  • Unique product and market opportunity
  • Business opportunity must show capital appreciation
• Stages of venture capital process

  • Preliminary screening
  • Agreement on principal terms
  • Due diligence
  • Final approval
• Types of growth strategists

  • Acquisition
  • Conversion
  • Retention
  • Product-led
  • International
  • Channel
  • Revenue
• Joint venture


  Separate entity involving partnership of two or more active participants, also called a strategic alliance
• Acquisition


  Purchase of a company or part of it, where the company is absorbed and no longer exists
• Types of deal structures

  • Direct purchase
  • Bootstrap