CURSO : CMD HOW TO BUILD A STARTUP? TRADUCCION : CDM: ?COMO CONSTRUIR UNA STARTUP? SIGLA : ICS2014 CREDITOS : 06 SCT-Chile / 10 UC MODULOS : 02 REQUISITOS : SIN REQUISITOS TIPO DE ASIGNATURA : CATEDRA CALIFICACION : ESTANDAR DISCIPLINA : INGENIERIA I. DESCRIPTION This course is designed to provide real-life entrepreneurial advice from practicing entrepreneurs, and to equip students with the confidence and resources they need to begin or accelerate their journey to build a startup. II. OBJECTIVES 1. Offer a global perspective on Entrepreneurship with a focus on the experiential and practical aspects of starting a business. 2. Introduce a framework for how to turn an idea into a viable business model. 3. Present the most up-to-date and cost effective business development tools. 4. Develop networking skills and grant introduction to an entrepreneurial network that is both global and local. 5. Provide mentorship from Start-Up Chile Entrepreneurs in all aspects related to developing the students? business. III. CONTENTS 1. Introduction to the Class and Overview of Entrepreneurship. 1.1 The definition of a Startup. 1.2 Entrepreneurial Culture. 1.3 All kinds of entrepreneurship (High tech, Small businesses, Lifestyle business vs. scalable). 1.4 Practical lessons and stories of awesome international entrepreneurs. 1.5 How to mitigate startup risk. 2. Failure Day. 2.1 Failure is a natural part of the entrepreneur?s life cycle. 2.2 Stories about companies that failed because of outside market forces, not because the founder stole the money or was incompetent. 2.3 Examples of companies that have repeatedly changed their business models. 3. Idea Generation/Opportunity Research. 3.1 The difference between an idea and an opportunity. 3.2 How to analyze your idea/opportunity. 3.3 Assumption and Mitigating Risk. 4. Intro to Steve Blank?s customer development method. 4.1 What it is & Why it?s important (focus on our own examples using the methodology). 4.2 Customer development vs. product development. 4.3 Speaker experiences with both (e.g., Nate Lustig, of Entrustet, wasted 100k on his first startup doing product dev, not cust dev. He didn?t make that mistake with Entrustet). 4.4 Introduction to Business Model Canvas ((http://thestartuptoolkit.com/). 4.5 Analysis of Startup Chile example Canvases. 5. Customer Discovery + Customer Validation. 5.1 Identifying your customer and why this is important. 5.2 Customer risk versus Technology risk. 5.3 Minimal Viable Product / Staying Lean. 5.4 Product-market fit. 5.5 What to do when you think you know who your customer is. 6. Customer Creation + Company Creation. 6.1 Ok you have some customers, now what? 6.2 How to grow your business? 6.3 How to make the right hires? 6.4 Intern Program basics. 6.5 Finding / Choosing co-founder(s). 7. Evaluation of Entrepreneurs the Idea. 7.1 First Team Presentations. 7.2 Market sizing exercise - How Large is the Opportunity? 7.2.1 Top-down Analysis. 7.2.2 Bottom-Up Analysis. 8. Startup Marketing 101. 8.1 Overview of common traction verticals. 8.1.1 Community building, PR (on/offline/stunts). 8.1.2 SEO, content marketing, social media / blogging, email. 8.1.3 Affiliate, contests, widget, partnerships. 8.2 Ideas for marketing on a budget. 8.3 How to get press for free. 8.4 The importance of good copy...thoughts about translating to attract an international audience (A/B testing copy). 8.5 Differentiating yourself from competition. 9. Social Media Introduction. 9.1 Importance of Social media. 9.2 Free/cheap marketing. 9.1.1 Through status updates via social media, word of mouth becomes world of mouth. 9.1.2 The art of word of mouth advertising--word of mouth follows good products. 9.1.3 Personal brand. 9.2 Gamification. 9.3 Viral loops / Network effects (externalities). 10. Basic Startup Financials. 10.1 How to make simple projections and why they are important. 10.2 Projection Assumptions you need to make...and assumptions you DON'T need to make. 10.3 Capital - types of financing available. 10.4 What?s important to angels / investors? (traction, team, market). 10.5 Startup financial vocabulary and metrics. 11. Communication Skills (guest lecture). 11.1 Why it?s important to talk to everyone and anyone. 11.2 How to talk about your ideas. 11.3 Value of Communication skills. 11.4 Typical communication mistakes for entrepreneurs. 12. Networking/Mentorship. 12.1 Talking about your ideas / No idea is original / No one is going steal them. 12.2 Entrepreneurs are the safest people to tell ideas to. 12.3 Why it?s important to talk to everyone and anyone (Success through connections). 12.4 Value of Mentors (ask for advice not money, learn from their mistakes, potential angels). 13. Demo Day. 13.1 Dave McClure?s 10 slide pitch deck ? ?How to make a VC hard (Startup Viagra)?. 13.2 Students pitch their business models at the end of the year ?celebration?. 13.3 Deliver not a full business plan, but an executive summary / presentation detailing how, with their ideas, they will make money. IV. METHODOLOGY - This course is entirely devoted to the experiential and practical aspects of starting their own business. - Students will work in their project teams and on their own startup idea. V. EVALUATION - Midterm presentation of business model: 40% - Final Presentation of business model / executive summary / pitch deck: 40% - Customer Development Exercises: 20% - Caveat: - Any team that starts to generate recurring revenue will earn a perfect score, 100%. VI. BIBLIOGRAPHY Excerpts from: Entrepreneurship 101, Donald Trump. The Four Steps to Epiphany, Steve Blank. Good to Great, Jim Collins. Regarding the Business model: Steve Blank?s post on how to process business model. The Business Model Canvas by Alex Osterwalder. The Business Model Generation book. The lean startup business model pattern (long, complicated) Pitch decks: Presentation Style: 10 slides, <20 minutes, 30+ point font. Examples: http://bit.ly/bundles/royrod/2 http://torgronsund.wordpress.com/2010/02/05/6-essential-startup-decks/ http://techcrunch.com/2010/11/02/365-days-10-million-3-rounds-2-companies-all-with-5-magic-slides/ http://www.slideshare.net/search/slideshow?searchfrom=header&q=pitch+deck http://www.slideshare.net/tdklein/vc-pitches-that-work http://www.slideshare.net/liubinskas/pollenizer-universal-pitch-deck http://www.reoverthinking.com/2009/08/combined-vc-pitch-deck-examples-discus/ Selected Postings from the following Entrepreneurial Blogs: Arrington, Michael. Former lawyer and founder of Techcrunch. Techcrunch reviews new Internet products and companies. http://www.techcrunch.com/ Blank, Steve. Customer Development, Business model vs Business Plan, lean startup, others. http://www.steveblank.com Campbell, Anita Anita is the Founder of Small Business Trends. Her blog provides a variety of websites and information feeds to help you stay informed about the small business market. http://www.smallbiztrends.com/ Chen, Andrew Freemium. http://andrewchenblog.com/ Clark, Brian. Brian is a writer/producer, entrepreneur, and recovering attorney. CopyBlogger is a great blog focusing on content strategies and copywriting skills. http://www.copyblogger.com/ Cuban, Mark. Owner of the Dallas Mavericks, an NBA basketball team, owner of Landmark Theatres, and Chairman ofHDNet, an HDTV cable network. His blog covers business trends and ideas. http://blogmaverick.com/ Daye, Derrick & Van Auken, Brad Branding experts. Their blog focuses on branding strategy. http://www.brandingstrategyinsider.com/ Ellis, Sean. Product-Market Fit. http://startup-marketing.com/ Feld, Brad & Mendelson, Jason. AskTheVC.com Ferriss, Tim. Author, The 4-Hour Workweek. A blog for building your entrepreneurial lifestyle. http://www.fourhourworkweek.com/blog/ Gladwell, Malcolm. Author, The Tipping Point, Blink. His blog covers some very thought provoking business ideas and thoughts. http://gladwell.typepad.com/ Godin, Seth. Seth is a writer, a speaker and an agent of change.Seth Godin is the best marketing blogger on this planet. http://sethgodin.typepad.com/ Graham, Paul. Paul Graham is an essayist, programmer, and programming language designer and is one of the partners in Y Combinator. His essays are amazing for startup entrepreneurs. http://www.paulgraham.com/articles.html Heath, Chip and Dan Authors, Made to Stick and Switch. A super cool marketing, branding and business idea blog. http://heathbrothers.com/ Heinemeier Hansson, David. Creator of Ruby on Rails, Partner at 37signals. A blog about design, business experience, simplicity, the web, etc. http://37signals.com/svn/ Jantsch, John. An author and a marketing and digital technology coach. His blog focuses on small business marketing. http://www.ducttapemarketing.com/ Kawasaki, Guy. Partner at Garage.com and Co-founder of Alltop. His blog is perfect for impractical people (a.k.a entrepreneurs. http://blog.guykawasaki.com/ McClure, Dave. A software developer, entrepreneur, startup advisor, angel investor, blogger, and internet marketing nerd. His blog covers tons of great startup ideas, startup metrics, internet trends, etc. http://500hats.typepad.com/ McClure, Dave. http://500hats.typepad.com/ McClure, Dave. Master of 500 Hats Blog: ?Greatest Hats? (top blog posts) McClure, Dave. Startup Metrics for Pirates (AARRR!) McClure, Dave. ZapMeals Sample Pitch Presentation Nivi, Babak & Ravikant, Naval. Nivi and Naval are founders (Epinions), investors (Twitter), students (life), and advisors (billions). This is an awesome blog for startup entrepreneurs. http://venturehacks.com/ Ray, Ramon. He is a journalist, technology evangelist, editor of Smallbiztechnology.com. His blog provides growing businesses with information on how to strategically use technology as a tool to grow their businesses. http://smallbiztechnology.com Ries, Eric. StartupLessonsLearned Rowse, Darren. Turn his hobby into money making blog. His blog helps other bloggers learn the skills of blogging, share their own experiences and promote the blogging medium. http://www.problogger.net/ Senkut, Aydin. Felicis Ventures blog Slim, Pamela. A seasoned coach and writer. Her blog helps frustrated employees in corporate jobs break out and start their own business. http://www.escapefromcubiclenation.com/ Suster, Mark. Both Sides of the Table VentureHacks.com StartupCompanyLawyer.com PONTIFICIA UNIVERSIDAD CATOLICA DE CHILE ESCUELA DE INGENIERIA / Julio 2015