MIT Logo Nuts and Bolts of New Ventures MIT Course 15.S21
Nuts and Bolts of New Ventures - 2017
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Session 1 - Tues 1/24/17
Session 2 - Wed 1/25/17
Session 3 - Thurs 1/26/17
Session 4 - Tues 1/31/17
Session 5 - Wed 2/1/17
Session 6 - Thurs 2/2/17
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Session 1:
Introduction to New Ventures;
Marketing and Sales: Finding Your Customer

Tuesday, January 24, 2017
6:00pm to 9:00pm, Room: 10-250

Part 1: Introduction to New Ventures

What is a Venture Plan, why do I need it and what is it used for? Practical do's and don'ts in preparing a Plan. Things to keep in mind in creating a Plan for a New Venture which will improve your chances of obtaining funding and running a successful venture.

Introduction to Virtual Ink. During this course we will be referring to the Virtual Ink Business Plan as an example. Yonald Chery, a co-founder of Virtual Ink will present the plan in more detail in Session 6 and will discuss how the Virtual Ink idea became a company with products and what happened along the way.

Reading: In preparation for the class skim through the Virtual Ink Business Plan. Focus on the Executive Summary and the Table of Contents. This is a real plan submitted in the MIT $50K Competition (now $100K) which resulted in a real business which received substantial funding.

Speaker:
Joe Hadzima
Presentation Slides:    Introduction to New Ventures

Part 2: Marketing and Sales: Finding Your Customer
Many entrepreneurs, especially technology based entrepreneurs, are accused of being too in love with their technology or concept. They rationalize that if they develop a better mousetrap then the product will sell itself. However, a good technology or product idea is a necessary but not a sufficient condition to establishing and growing a successful business venture. Who will buy the product? How will you reach buyers? How much will they pay?

If you have an idea for a product or service how do you determine whether there is a market for it? How do you develop a marketing strategy? How do you turn your idea and market research into sales? What do you need to do to convince potential investors that there is a market and that your idea is viable? If you don't have a specific product or service idea but you see a potential need, how do you turn the need into a product or service?

This session will discuss these issues and provide guidance on how to approach the marketing section of your business plan. Reading:

Speaker
Bob Jones
Founder and CEO, Scientific Nutrition Products, Inc.
Serial Healthcare Industry Entrepreneur
Read his bio here.
Bob Jones at his Other Job - www.bluesdogsboston.com

Presentation Slides:    Finding Your Customer

 

 

Martin Trust Center for MIT Entrepreneurship, One Amherst Street, E40-196, Cambridge, MA 02142
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