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

2/3/15 ¡ 1 ¡

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

2/3/15 ¡ 2 ¡ 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 ¡ ¡

2/3/15 ¡ 3 ¡

6

IDEAS PITCHES NETWORKING AND INFORMAL TEAM FORMATION TEAM OF FOUR?

CONGRATULATIONS! HOLD YOUR 1ST TEAM MEETING AND GET STARTED ON LAUNCHPAD CENTRAL

FORMAL IDEA SELECTION AND TEAM FORMATION

NOT YET YES

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

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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…