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Paul Hudnut AREC MECH 581 April 20, 2011

Paul Hudnut AREC MECH 581 April 20, 2011 Building on BOPportunities: Strategies for Start-Ups. The Line Up. 2:00 On The Edge 2:15 Becoming H.E.R.O.ic 2:30 Swimming Lessons- Envirofit 3:00 Sam Baldwin at LSC Ballrooms 4:00 Tim Bauer. 2:00- 2:15.

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Paul Hudnut AREC MECH 581 April 20, 2011

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  1. Paul Hudnut AREC MECH 581 April 20, 2011 Building on BOPportunities: Strategies for Start-Ups

  2. The Line Up 2:00 On The Edge 2:15 Becoming H.E.R.O.ic 2:30 Swimming Lessons- Envirofit 3:00 Sam Baldwin at LSC Ballrooms 4:00 Tim Bauer

  3. 2:00- 2:15 On the Edge (theory)

  4. My Pool Business is about problem-solving, but it does not always have to be about maximizing profit.. Muhammad Yunus Business 2.0

  5. “Most people look at a company like Apple and think, how could I ever make such a thing? Apple is an institution, and I'm just a person. But every institution was at one point just a handful of people in a room deciding to start something. Institutions are made up, and made up by people no different from you.” Paul Graham, A Student’s Guide to Start Ups

  6. Paul Polak DESIGN FOR THE OTHER 90% 1 2 90% Population; <10% of Effort 3 1 billon <$1/day BASE OF PYRAMID

  7. New Math for 2008-2020 1 Billion =1.8 Billion = BOPportunity?

  8. 1 US Consumer 4 Billion BOP ×

  9. H.E.R.O.

  10. 2:15-2:30 BeComingH.E.R.O.ic

  11. Starting Up a “H.E.R.O.ic” Venture • Pick 1 problem • Ask 2 questions • Solve for 3 S’s • Build on 4 foundations • Work 5 deals

  12. 1 Problem (BHAWG)

  13. ? ?

  14. S S S Goods & Services

  15. Building a start-up: 4 Foundations 4) $$ Value 3) Mgt. Team 1) Market 2) Comp. Advantage

  16. 5 Deals in a Start Up • Customer • Founders • Funders • Employees • Supply Chain

  17. 2:30-2:50 Swimming lessons-Envirofit Case

  18. Envirofit Case • What is the situation? • What sucks? What is EF going to do about it? • What is the opportunity? • What challenges? • What does this team need to do to move this venture adventure forward?

  19. Envirofit: Technology Development • In 2003, what stage of development was the DI retrofit? • What were the major design constraints facing Envirofit? • What are the 5 stages of product development they have planned? How long would this take? • Any concerns? Suggestions?

  20. Envirofit: Business Model • Who is the customer? • Why would the customer buy the retrofit? • How did EF do market research? • Would Paul Polak approve? • Three S’s • Sustainable business model? • What is the “triple bottom line” equation for EF? • Scalable? How? When? • How significant an impact? • For Profit or Non-profit?

  21. Envirofit: Team and Network Customer Customer Customer Customer Distributors Suppliers Investors Company -Founders -Employees 5 Deals

  22. Envirofit Case: Final Thoughts • Start ups are messy. • Lots of ambiguity • Many potential paths • Hard and soft issues • No heroes • Lots of work • But to become a start up, you have to START UP. • Jump in the pool • Get going • Learn by doing

  23. If you liked this… • My blog is www.bopreneur.blogspot.com • Consider attending Jacqueline Novogratz lecture tomorrow at 2 pm at LSC 228 • Non profit venture capital fund • Invests in start ups in India, Pakistan and East Africa

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