Week -1 Agenda Idea pitch Team formation Informal - PDF document

2/3/15 ¡ Spring 2015 Semester Week # 3 Course Lesson: “Week-1” Topic: Idea Selection & Team Formation MGMT 341 – New Ventures ENGIN 597H - Technology Management: Innovation and Entrepreneurship 2/3/15 Evening 2/4/15 Day Week -1 Agenda • Idea pitch • Team formation – Informal (self-organizing) and formal approaches • Teams meet • LaunchPad Central (LPC) • For next week – Lean LaunchPad week 1 1 Idea Pitch • Pitching – Pitch one idea • 60 seconds per pitch • No Q&A – Team members may each pitch the same or a different idea but need to speak as individuals • Listening – Keep track of ideas that may be of interest 1 ¡

2/3/15 ¡ Idea Selection and Team Formation • Class organized around 8-9 teams – 4 person teams are the goal • Each team forms around an idea • Teams are permanent for the duration of the class • Ideas will change throughout the Lean Launchpad process – Pivots and (possibly) dead ends What Makes a Good Idea? • Fit with your interests • Fit with your expertise • Flexibility • Scalability • Team • Other? • Each individual must weight factors 4 What Makes an Effective Team? • Common purpose • Performance goals • Commitment to individual contribution • Complementary skills, e.g., hacker; hustler; designer; organizer • Diverse perspectives and personalities • Mutual respect • Schedules and other practical considerations For ¡more ¡on ¡teams, ¡see ¡“The ¡Discipline ¡of ¡Teams” ¡by ¡Jon ¡R. ¡Katzenbach ¡and ¡Douglas ¡K. ¡Smith ¡in ¡Harvard ¡Business ¡ Review, ¡July-­‑Aug ¡2005. ¡Available ¡at ¡hMp://silk.library.umass.edu/login?url=hMp://search.ebscohost.com/login.aspx? direct=true&db=buh&bquery=AN+17602399&type=1&site=ehost-­‑live&scope=site ¡ ¡ 2 ¡

2/3/15 ¡ IDEAS NETWORKING AND PITCHES INFORMAL TEAM FORMATION TEAM OF YES NOT YET FOUR? FORMAL IDEA SELECTION AND TEAM FORMATION CONGRATULATIONS! HOLD YOUR 1 ST TEAM MEETING AND GET STARTED ON LAUNCHPAD CENTRAL 6 LET THE PITCHING BEGIN! 7 Initial Team Meeting - Agenda • Introductions – Interests – Expertise and experience – Inclinations (hacker, hustler, etc) • Find a time and place for the next (first working) meeting – Consider setting a fixed time each week such as immediately following class • Share contact information 8 3 ¡

2/3/15 ¡ 9 10 Assignments for Feb 10/11 • LaunchPad Central – Login and get teams established – Watch "Team welcome video" and "Creating a new business model canvas” • http://blog.launchpadcentral.com/video-tutorials – Set up your initial team profile and business model canvas • Udacity through Lesson 2 • Business Model Generation (pp 14-49: The 9 Building Blocks of the Canvas • Start-up Owner’s Manual - pp. 1-75: Intro to Customer Development and Customer Discovery, Market Size; pp. 472: Market Size; pp. 112-122 & 457-458: Market Type, and pp. 123-124: Competitors • Prepare your first canvas and presentation – Title Slide (list all team members) – Business Model Canvas – Market type – Market size – Competitors – Proposed experiments (Value Proposition, Customer Segment, channel, and revenue model) • Continuation slides from B. Wooldridge… 4 ¡