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LESSONS LEARNT IN LAUNCHING A VENTURE

LESSONS LEARNT IN LAUNCHING A VENTURE. Patrick Sostmann Timo Bütefisch. Barcelona May 24, 2004. LESSONS LEARNT - LAUNCHING A VENTURE. Phase 3 Raising Money. Phase 4 Execution. Phase 1 Idea generation. Phase 2 Business Plan. December. June. September.

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LESSONS LEARNT IN LAUNCHING A VENTURE

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  1. LESSONS LEARNT IN LAUNCHING A VENTURE Patrick Sostmann Timo Bütefisch Barcelona May 24, 2004

  2. LESSONS LEARNT - LAUNCHING A VENTURE Phase 3 Raising Money Phase 4 Execution Phase 1 Idea generation Phase 2 Business Plan December June September • Find an idea with a market potential larger than €1 billion • Set up the right team (3-4 persons maximum) • Clear perspectives and ownership from the beginning (set up a small contract) • The business plan is your communication tool to the outside world • Good structure • Assign responsibilities • Show operational successes (pictures, documents,etc.) • Rewrite it many times • Develop contacts/network • Decide on the money you need • Set your goals from the start • Use IESE effectively • Talk to MANY investors • Use all avaliable sources (Business Angels, ICO, Cidem, VC Funds, etc.) • Steer the process – time works against you • Use your network and talk to experts • Set up a masterplan • ….we will tell you in few months

  3. LESSONS LEARNT - MAIN DOCUMENTS • Presentation – PPT- 15 pages • Executive Summary – WORD - 2 pages plus 8 pages exhibits • Business Plan – WORD - 30-40 pages plus appendix

  4. LESSONS LEARNT - MAIN CLASSES • NAVES - 1st semester – How to write the plan? • ENTRE – 2nd semester – How to negotiate and launch? • ENFI – 2nd semester – How to finance the venture?

  5. QUESTIONS Patrick.Sostmann@iese.net Timo.Buetefisch@iese.net in F-515

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