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Building your business plan

Building your business plan. Financing options. The main question Why ?. Varies reasons: Make money ? Self fulfillment, interest ? Vision, need to change the world ? Can not fit to other environments ?. How to Finance a start-up: My own perspective. Entrepreneur since 1994

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Building your business plan

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  1. Building your business plan Financing options

  2. The main questionWhy ? • Varies reasons: • Make money ? • Self fulfillment, interest ? • Vision, need to change the world ? • Can not fit to other environments ?

  3. How to Finance a start-up:My own perspective • Entrepreneur since 1994 • (playing with models…) • Phonet (sold in 1998) • Septier (president and CEO) • Cellebrite • Libercell

  4. Financing strategies • The business plan is highly influenced by your financing strategies: • Financing path • How much and when • Who will be your partners • VC’s, angels, projects etc..

  5. Various alternatives to fund a start-up • VC’s • Industrial partners • Angels (the three F’s) • Projects • Self financing

  6. Professional InvestorsMajor factor – portfolio strategy • The founders have one “baby”, professional investors have a portfolio… • Time perspective (7Y…) • Thus, decision making is very different: • Risk taking • Exit strategy • Commitment to survival

  7. VC’s are only one option in the tool box… • Some of the most successful companies in the world and in Israel are not VC backed… • Microsoft… • Amdocs • Teva • …

  8. VC’s • Portfolio driven • Time perspective • Deep pockets • Involved • Example – Chromatics… Cisco.. A partner rather then an investor Fits to very difficult technological tasks with very high risk and potential… my perspective – Phonet Business plan impacts – presentation is everything. extensive excellware …

  9. Industrial partners • Have their own agenda • Can provide support • Financing • Real life experience • Market assistance Fits to very experienced entrepreneurs with “real” product My perspective – Septier Business plan impact – real life, no bullshit…

  10. Angels • “stupid money” – the three F’s • Limited involvement • Limited support Most of them are history…

  11. ProjectsIn the main area of activity… • Diversion • Longer time to market • Hands on • Control Fits to very experienced entrepreneurs with a project type product My perspective – Libercell Business plan impact – a few excel shits, extensive cash flow control

  12. Self financing • Low budget products • High market need • Specific advantage to the entrepreneurs • Longer time to market • Control My perspective – Cellebrite Business plan impact – cash flow is everything…

  13. Life cycle combinations • Start with own limited resources… • Get relevant project to add resources • VC or Strategic partner • IPO… Self financing Project VC or SP Exit

  14. SummaryMy view • Various ways to make it happen • Depended on: • Product • Technology • Market • Founder characteristics Find your own way…

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