New Venture Creation - University
A university-level full semester course on how to generate and create a business plan, financial model and pitch deck for a scalable business idea. Contact us for special educational pricing.
How to create a successful, scalable company
Learning will be through live sessions, experiential exercises, on-line videos and readings. The on-line materials and live sessions will facilitate the construction of the business plan. Relevant topics will be covered as the plans are developed and experiential exercises will be used at plan milestones. Live sessions and experiential exercises will include discussions with active participation. Students are expected to: make several in-class presentations; participate actively in class; engage in problem solving and group discussions; watch videos and read as part of preparation for class; meet with their project teams outside of class; work in a team to prepare a written business plan and investor presentation.
39 hours of live interactive sessions with Expara CEO Douglas Abrams
91 videos - 17.5 hours of viewing and 83 original articles for reading
Live presentation to a panel of venture investors
Expara's award-winning VC-Start-up negotiation exercise
Business plan development and written feedback - 2 rounds
Valuation development and feedback - 1 round
Investor slide deck development and feedback - 1 round
Pro-forma Valuation Excel Model for start-ups
Start-up evaluation checklist and term sheet template
Expara Academy Certificate of Course Completion
A message from the instructor
About the instructor
READ FIRST: Course outline and how to complete the course
Course schedule
Course syllabus
Milestones and deadlines
Reading list for entrepreneurs
Reading: Can entrepreneurship be taught?
About Expara
What is the relationship between risk and return?
Risk and return
Reading: Risk and return
What is an entreprenur?
What is a scalable business?
Why become an enterpreneur?
Starting up in a downturn
What is an entrepreneur?
How to build a scalable business?
What is a scalable business?
Why become an entrepreneur?
Obstacles to entrepreneurship
Reading - Two types of entrepreneurs
Reading - What makes a successful entrepreneur?
Reading - Should I work first or just start a company?
Reading - Why entrepreneurship
Reading - How important is luck in entrepreneurial success?
Reading: Is an economic crisis a good time to start or pivot a business?
This could be you
This could be you
Let's fail
Overcoming the fear of failure
Reading - Innovation from failure at 3M
Reading - Fear and failure
Why is failing good for entrepreneurs
Success from failure
Success from failure
Reading - Success from failure
Reading - What percentage of start-ups really fail?
Reading - Why do so many start-ups fail?
Reading - Why is it good that so many start-ups fail
Reading - Do difficult things
Key elements of success
How to register on Expara Innovation Engine
Scalable or lifestyle business?
Why should startups raise investment
Reading - Why do start-ups raise money?
How to fund growth?
Which form of funding is best?
Why should companies raise investment?
What is the best form of funding for a start up
Only a moron starts a business with a loan
What is the difference between debt and equity
Highest returning asset class
Highest returning asset class
VC improves both return and risk in portfolio
Reading - Why do investors invest in VC funds?
Reading - Top VC fund managers can consistently outperform
Why VC now
Why venture capital now
Reading - Is moores law over?
Reading - Amaras law
What kind of companies do VCs invest in?
How do VCs generate returns?
Which one is more scalable- product or service?
What sectors do VCs invest?
What kind of companies generate high returns?
Reading - What do VCs invest in?
Reading - Which scales better?
Reading - Good business vs good investment
The investor’s decision tree
The investor’s decision tree
Key elements for success
Key elements for success
Reading - Three most important factors
Reading - Product market fit or team
Communicating with investors
Communicating with investors
Reading - How to connect with investors
What is innovation?
Defining innovation
Value proposition
Innovation and value proposition questions to ask
Innovation and value proposition questions
Why invest in innovators
Innovation and value proposition
Reading - Innovators, imitators and idiots
Reading - Is Grab an innovator or an imitator?
Pain and demand (How does pain drive demand)
Business model innovation
Business model innovations
Reading - What is the Gillette business model
Reading - Disruptive business models
How to upload your idea to Expara Innovation Engine
What to include in your idea slide
Identifying favorable markets for start-ups
Market life cycles and structures
Reading - What is the optimal time to enter a market?
How to vote for ideas on Expara Innovation Engine
Sizing the market
Top-down and bottom-up market sizing
Reading - Sizing the market for a start-up
Market identification and analysis
Market identification and analysis
Market identification and analysis questions
Who is your customer?
What are the elements of marketing strategy?
Product differentiation
Market positioning
Market positioning
Elements of the 4Ps
4 Ps
Choose the right segment to enter the market
Developing a tagline
Marketing strategy questions
Value innovation
Blue ocean strategy
Customer analysis
Customer segmentation analysis
Sales and distribution
Sales and distribution
Reading - What are unit economics?
Customer, sales and distribution questions
Business plan draft 1 submission
Sustainable competitive advantage
First mover advantage & last mover advantage
How startups beat established companies?
Sustainable Competitive Advantage (Market Leaders, Dinosaurs, and Small Mammals)
First mover disadvantage; last mover advantage
First mover disadvantage last mover advantage
Reading - Why are you using Whatsapp?
Reading - Why are there only two ride sharing companies in each market?
Competing with large companies
Competing with large companies
Market leaders dinosaurs small mammals and asteroids
SCA case study - who was the first mover in personal computers
Sustainable competitive advantage questions
IP strategy
IP strategy
Reading - Is it possible for someone to steal your start-up idea?
Reading - What are the elements of an IP strategy for start-ups?
Forms of organization
Key legal agreements
Capital and legal structure of a firm
5 key agreements in venture capital deals
Reading - Key agreements in VC investment
In the financial section of the business plan
Why do we need a financial plan?
Financial projections - financial section of the business plan (2)
Valuation - financial section of the business plan (3)
Business Model - The financial section of the business plan (1)
Key revenue model issues
Business model - how will you make money?
Reading - What is a business model?
Business plan draft submission 2
Pro-forma Financial Model
Create financial projections
Why forecast 5 years?
Starting with revenue forecast
Top-down market sizing example - Plant-based meat
Top-down market sizing example - Sesame milk
Bottom up market sizing
Introduction to Revenue forecast in Excel
Why is the top-down forecast different from bottom-up forecast?
Mistakes startup CEOs make
Reading - Why will financial forecasts always be wrong?
Financial model explained 1
Financial model explained 2
Financial model explained 3
Balance sheet
Income statement 1
Income statements 2
Cash flow budget
DCF valuation model
Financials and DCF Valuation
Weighted average cost of capital
Valuation in financial modelling
Dilution schedule and investor ROI
Reading - How can unprofitable startups be so highly valued?
Reading - How is a model different from reality
Why do most valuation methods fail for start-ups?
Why do most valuation methods fail for start-ups?
Reading - Why do traditional valuation methods fail?
Company valuation methods
Comparables
Methods of valuation - comparables
Discounted cash flow valuation
Methods of valuation - discounted cash flow
VC method
Methods of valuation - VC method
Valuation methods
Pre-money and post-money valuation
VC method valuation explained
Where do the numbers in VC method valuation come from?
Reading - What drives VC fund returns
VC return distribution
Key valuation issues
Reading - Epidemic of overvaluation
Reading - Why don't startups pay dividends?
Reading - What is cost of capital and why is it important?
Exit strategy and ROI
ROI and dilution
Calculate investor's ROI including dilution
Exit strategy and ROI
What two numbers do investors need to calculate their ROI
What is an exit strategy
Why every start-up needs an exit strategy
What is the best exit strategy
Calculating exit valuation
Never sell less than 100 percent
Reading - How do VCs make money
Why is the VC funding process so important?
The start-up fundraising journey
How much funding to raise?
Equity offered
Use of proceeds
How should founders split equity?
No part-time founders
Fundraising process
VC investment process
Reading - Smart money or dumb money
Reading - VC funding process enables innovation
How much funding to raise?
Reading - What are burn rate and runway?
Reading - How much to raise?
How much equity to give up?
Reading - How much equity to give up?
Reading - How should founders split equity?
Reading - Choose your investor as carefully as you choose a spouse
Reading - VC or Angel or CVC which is best
How to use funds raised?
Reading - Who are venture investors?
Reading - Is dilution a good thing or a bad thing?
Reading - Use of funds - do founders salaries drive growth?
Reading - What is FF and F?
Reading - What is OM and how much of it do you need?
Reading - The best and worst times to raise money
Reading - Why not give up the minimum equity
Financial plan draft submission
Economic terms in term sheets: Part I
Economic terms in term sheets: Part II
Control terms in term sheets
An example of how liquidation preference works
What is founder vesting
What is a clean cap table?
Convertible debt vs equity
SAFE notes
Key elements of the deal
Reading - Key terms in VC term sheets
Reading - Liquidation preference as valuation insurance
Cap tables
Reading: The 7 deadly sins of messy cap tables
Reading - What is founder vesting?
Download: Term sheet template and term sheet alternatives
Reading: How do VCs control startups after investment
Reading: Corporate structuring issues for VC investors
Reading: What forms of funding are used by VCs
Reading: What are convertible and SAFE notes and should we use them
Reading: Reserve matters and protective provisions
Reading: Retaining BOD control
Reading: What are reps and warranties
Reading: What is a drag-along clause
Reading: MFN and Pay to Play
Reading: What is redemption
Reading: What is anti-dilution protection
Reading: What are ROFRs and ROFOs and when are they bad
Investor presentation materials
Investor pitch deck
First impressions
You can't judge a book by its cover: Part II
You can't judge a book by its cover: Part II (Susan Boyle singing)
You can't judge a book by its cover: Part III
You can’t judge a book by its cover
Getting past gatekeepers
How to get past gatekeepers?
How to stand out?
Effective presentation delivery
What causes presentation choking?
Presentation tips
Reading - What is a gatekeeper and why are they important
Reading - Understanding gatekeepers incentives
Reading - How to get to gatekeepers
Reading - Getting past gatekeepers
Presentation slide draft submission
VC-start-up negotiations
VC startup negotiations
VC - startup negotiation game
Business plan final submission
Financial plan final submission
Presentation slide final submission
Contact Information