15 lessons from 5 mic boostcamps to create an it startup
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The document provides information about Boostcamps, an acceleration program for startups in the IT sector run by the Microsoft Innovation Center (MIC) in Wallonia, Belgium. Over 4 months, Boostcamps offers 20 days of intensive training, workshops, meetings with experts, and conferences to support startups. Previous Boostcamp participants are part of an Alumni Club that continues networking opportunities. Since 2009, Boostcamps have helped launch over 30 startups and generated over 800 expert meetings and 150 jobs.
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15 lessons from 5 mic boostcamps to create an it startup
- 1. 15 advices to launch your start-up Ben Piquard, directeur Microsoft Innovation Center Benpiquard
- 5. Entrepreneurs Boostcamps Le Boostcamp : 4 mois pour démarrer une entreprise ! 150 – Le Boosctamp est un programme d’accélération au démarrage d’entreprises emplois innovantes du secteur IT. Concentré sur 4 mois, le Boosctamp proposent quelques 20 journées de formation intensive, des ateliers thématiques, des rencontres avec des 30 Start-ups experts et des conférences inspirantes en complèment des autres outils existants en Wallonie. 80 participant s – Les anciens Boostcampers sont réunis dans le Club des Alumni à travers lequel ils continuent à participer aux conférences et ateliers. Le Club des Alumni est également l’occasion de réunir des pairs et de réseauter. 800 Rencontres expert Je recommande le Boostcamp qui est une opportunité unique de recevoir des conseils avisés de la part d’experts et d’être encadrés par des personnes expérimentées. Le MIC m’a permis d’évoluer Boostcamps plus vite et d’avoir confiance en mon projet. Etre supporté par le MIC apporte énormément de crédibilité auprès des clients potentiels. Guillaume Tilleul, Numerizik BILAN 2009-2011 MIC WALLONIE
- 7. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 9. Why Tools are critical ? A quoi servent les outils ? - Parler le même langage - Gagner du temps - Travailler ensemble Outils de toutes sortes: Accounting, strategie, HR, organisation, finance, time management,… des CENTAINES d’OUTILS !!! http://www.wordle.net
- 10. Must 1 : value chain; Greiner Model; paradigm shifts Explosion du concept Move to 6 ? Externalisation Breaking the Chasm !
- 11. Must 2 : as basic as XL !!! XL: -Abs / Related -Name -What If analysis Business Plan Stability • Assumptions stability • Cash Flow ? (2/3 bankrupt) • ROI measure sensibility and hold them !
- 12. Limits of tools: Michael Porter • Strategy = define and keep a sustainable advantage • 3 ways – Best – Cheap – Different • Invented end of 80’ – Information speed – Individual value: €, social, sustainable
- 13. Must 3 : Time management ! Why do you do something ? SMART Think Visual 4D emails management
- 14. Ton’s of MUST… • Voyagez ! • Parlez de nombreuses langues !
- 15. Conclusions : Learn to Learn • Kill your TV • Go to Cinema From working Hard… • Subscribe to To working smart… – À Harvard Business Review – 123 Manage – Wikipedia – Amazon.com – …
- 16. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 17. Contribution to your wisdom…
- 18. Invent or Innovate ?
- 20. Intro* to Business Models…
- 22. Thinking 1 What are the business of Microsoft? Apple ? Salesforces.com ? FaceBook ?
- 23. • Microsoft is a software company with ww market • Local adaptation • 1000€ 720€ back to LSE • 40% of jobs in IT WW are Msft Related • Partner based model – 750.000 partners ww – 4800 in Belgium • Strong in G2M FOOTPRINT • Own & Partners innovation
- 24. Apple • Consummer model (low SMB, Enterprise) • End-to-end • Captive : web cam, iPhone,… • Reccuring : G5 (backward), Mac.com vs Me,... • Premium Market (High End, €$, Design) • Why is iPhone « that » a success ? App Store Revolution in distribution But - pre-finance dev - Volume needed - % fee for Apple DIFFERENT
- 25. • B2B via Web • Subscription based • Segmented : High end, middle range and individual/SMB • Direct or Partners : cost of sales aligned to margin; from 1 platform • Platform : web 2.0 : user generated configuration • Gain on – Subscription – Services • Leverage community : app-ecchange ALIGNMENT
- 26. • Advertising model –they know you !!! (subscription ?) • Border line of Profitability • Stupid basic functionality – User Profile – Friends – Board – Share photos / Video • But … facebook API… MONETARIZE
- 28. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing (in IT !!!) Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 29. Thinking 2 How old are FaceBook ? Twitter ? Fikket ? Resto.be ? Immoweb.be ?
- 30. 50% of IT today did not exist 3 years ago ! • Business = transaction, added value • From – 1-1 – Value Chain (software, integrator, hoster, customer) – Distributed / Clouds • How do you gain money ? – Software – Service – INfrastructure – Web • Subscription • Adverstising • % transaction • How do you go to market (G2M) ? – B2B, B2C, B2Web – Direct, Indirect ? • How do you finance your cashflow ?
- 31. Tom Siebel : ww leader in CRM • Ex Oracle • Has a Vision on next generation CRM • First group a Board – 5 customers « early adopters » – 3 Partners – 1 bankers – 1 Nasdaq investor – Marketing team – Business Dev / Sales / Partner Team Fully paid, 6 month « time for true ? » • 1 year : release 1 • Direct Sales, B2B + Partners • License based : cash + maintenance • 600mio$ in 4 years • Purchased by Oracle for 5.85 Bi$ after 7 years…
- 32. What can we learn from all this ? 1. Time to market is more important than features 2. Inventing the appropriate business model (you can copycat, danger of being the first one,…) 3. Align costs and revenue (Siebel vs HR) 4. Manage risk in time 5. Don’t he$itate to partner if time 2 market is in danger : VC, Bank, public funds*, sales partner, implementation, hosting,… Make or buy question ? 6. Which distributed value chain do you accept ? Michael Porter : best, cheapest or the other one 7. Have a clear value model (open ERP)
- 33. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 35. What’s the difference between a company and succesful company ? « THE ABILITY TO EXECUTE » KENICHI OHMAE
- 36. How can you do 1 Mio € in 2 Years ? Example : SMS game, pay per SMS 10c / sms; 500k€ de cout / an • Stratégy 1 : Think "Big" • Stratégy 2 : Repeatable Business Case • Stratégy 3 : Socialisation • Stratégy 4 : Indirect / Prescriptor • Stratégy 5 : web 2.0 • Stratégy 6 : Pure Services
- 37. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 38. Finance for Startups Martin van Wunnik Xavier Corman
- 39. Creativity level Finance & Accounting level
- 40. 5 • Company Setup • Accounting • Financial Plan • Funding your startup • Valuation / Dilution
- 41. Why should I create a company ? Limit your liabilities ! Professional touch Fiscal 34% (24% for 3y) Succession ... Formalities & some costs (bank, notary, KBO/CBE, social secretary) Double entry accounting Revisor for in-natura contributions 41
- 42. Accounting: Profit & Loss (P&L) COGS (Cost of Sales) Personnel Costs Gross margin Revenues (Sales…) General Expenditures Added Value Depreciation EBITDA Financial cost Profit
- 43. Financial Plan / Profit & Loss Revenues (Sales…) COGS (Cost of Sales) General Expenditures COSTS Personnel Costs Financial cost Depreciation CASH CASH-FLOW IF NEGATIVE DRAIN Profit
- 44. http://www.ideaowl.com/blog/2011/06/microconf-2011-3-surprises-and- learnings-from-best-conference-ever/
- 45. How to finance your start-up ? FFF Clients BA Suppliers VC Banks Crowd Shareholders Equity LT Debts ST Debts Public Banks Shareholders
- 46. Valuation Exit Money Sweat Money Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
- 47. Valuation - What is dilution ?
- 48. Next Workshops 06/03/2012 | 18:30 – 20:30 • Company Setup 20/03/2012 | 18:30 – 20:30 • Accounting 17/04/2012 | 18:30 – 20:30 • Financial Plan 15/05/2012 |18:30 – 20:30 • Funding 29/05/2012 |18:30 – 20:30 • Valuation Venues still to be defined (Brussels)
- 49. On possible way for a Belgian IT startup type B2B: 20k€ Idea : 4 weeks POC : max 6 months Clear Proposal Value Where is the money First run = max 1 year Pre-activity funds Business plan 2nd run : (12.500€) Build or buy Build a technical POC FFF + Find 150k€ max 24 months 3rd run : max 36 Show this to 2 early 2 persons months adopter customers Find 250k€ Distribution Partner model Channels 10 persons (PAM vs Direct Sales) Find 1Mio€ Indirect Web 2.0 branding 20 peoples Target Target : • 5 distributors Indirect • 3 distributors, • 100 customers Target • 25 customers • 2 moi€ • 10 distributors • 500k€ • 300 customers • 10 Mioi€ Sell ? Sell ? No Revenue Sell ? True business
- 50. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 51. The SaaS opportunity • Costs of your IT resources are simplified as commodity • Advantages – Possible Costs alignments on Revenue streams – No upfront investments – Backing SLA on Microsoft – New « revenue model possible » • Can turn decision from Capex to Open in Buyer eyes • Cf 7 revenue models (infra)
- 57. Variant = Affiliations ?
- 63. The SaaS opportunity • Costs of your IT resources are simplified as commodity • Advantages – Possible Costs alignments on Revenue streams – No upfront investments – Backing SLA on Microsoft – New « revenue model possible » • Can turn decision from Capex to Open in Buyer eyes • Cf 7 revenue models (infra)
- 64. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 65. Deux exemples de pitches
- 66. Contribution to your wisdom
- 67. 100 startups and 5 Boostcamps later… Before Starting 6 key Dimensions Business Model Marketing Sales Finance Technology * Pitches And now ? Let’s share thinkings… 1H ???
- 68. The MIC’s Boostcamps Microsoft Innovation Center asbl Parc Initialis Boulevard Initialis, 1 7000 Mons - Belgique Tél: +32 65 95 03 95 Fax: +32 65 95 03 96 Email: info@mic-belgique.be @micbelgique Groupe mic.fikket.be www.facebook.com/micbelgique Site web: http://www.mic-belgique.be micbelgique
- 69. My contribution to your Wisdom today… © 2012 - ben@mic-belgique.be
- 70. Are you an app builder or planning to become one? Stay updated and in the know through Microsoft.be/ISV Check out our ISV team at the Microsoft booth and get your entrance bracelet for the Microsoft Partner Drink here at TechDays!
- 71. Roald Sieberath HOPE MIC Belgique
- 72. We’re going to talk about :
- 73. Who am I ? I used to : I studied business at : I (co-)launched startups : I work with startups :
- 74. Main ideas What is a business model Why it’s important Building blocks Startup is a different animal Exemples & TEST !
- 75. Violonist story Earned : 32$
- 76. Violonist story II (the revenge) Joshua Bell
- 77. Lesson for Joshua (& gifted developers) Talent is not enough
- 79. Why Business Model matters ?
- 80. The winner is… …not the one …but the one with the best with the best technology business model
- 81. Introducing…
- 82. Business Model : 9 building blocks
- 85. Channels
- 87. Revenue streams
- 88. Key Resources
- 89. Key Activities
- 90. Key Partners
- 91. Cost structure
- 92. Recap
- 93. Full model
- 94. All right, what do I make of it ?
- 95. Use it as a toolbox !
- 96. Business Models need to be designed
- 98. It’s visual
- 99. It’s fun
- 100. It’s a communication tool Developers Marketers are from are from Mars Venus
- 101. You get to work with Post-It
- 102. It’s becoming a lingua franca
- 103. An easy way to share, discuss, adjust
- 104. It’s…everywhere !
- 106. We used to think: a startup is a company, just smaller And should be managed in a similar way
- 107. Reality A startup is a different animal Management science shouldn’t be completely the same
- 108. Another view: Steve Blank a company a startup solves a solves an known unknown problem problem
- 109. Waterfall model Problem: known Solution: known
- 110. Agile Development (XP) Problem: knowncustomer Solution: unknown
- 111. Customer Development Data, feedback, insights Problem: unknown Solution: unknown Hyp, experiments, insights
- 113. TEST the hypotheses !
- 114. Customer Development
- 115. Lean startup cycle
- 116. Adjust until you can prove it works !
- 117. What is a “proof” ?
- 118. a signed deal !
- 119. So: get out of the building !
- 120. Search (and find) the right business model Only then, “execute” !
- 121. Pivot !
- 122. Exemple : Djengo Cool startup Young founders Cool concept
- 123. Djengo v.0.5 : C2C car-sharing (may 2010) Carsharing concept : - Between individual users - From anywhere to anywhere - ‘clearinghouse’ + social
- 124. Djengo was going into a wall
- 125. So Djengo pivoted…
- 126. Djego v.1.0 : event car-sharing Value prop: Fixed destination Customers: Event organizers BMC : changed Better !
- 127. Djengo v.2.0 : B2B car-sharing • Changed again : – car-pooling for employees – Value proposition for companies – Different partners, relationships, • …
- 128. Djengo : they now have a business !
- 129. Business Model innovation Many sectors can be challenged & changed. Not so much technologically, But on their business model.
- 130. Business Model innovation ENIAC First commercial computer 15 Feb 1946
- 131. Lessons (recap)
- 132. 1. Business Model can win or kill your business
- 133. 2. You need to design your Business Model
- 134. 3. Use it as a communication tool
- 135. 4. TEST your hypotheses
- 136. 5. …by getting out of the building !
- 137. 6. PIVOT (if needed)
- 138. 7. only then, execute !
- 139. Understand this to avoid crashes
- 140. Thank you !
- 141. 30-second pitch everyone can understand Leo Exter, founder @ westartup
- 142. Because clarity of speech requires clarity of thought.
- 143. Not everyone knows as much as you do.
- 144. 1. Short words everyone knows 1. Zero fluff 2. No vague words: forget about “platforms” and “solutions” 3. Zero fluff
- 145. • What it is (smartphone app) • Whose problem it solves (engineering students) • What problem it solves (find cheap second-hand books) • With which secret ingredient (Dropbox-like recruitment of buyers and sellers)
- 146. leo.exter@westartup.eu www.westartup.eu Got questions? @leoexter
- 147. Anatomy of a COMPETENT 5-minute pitch Leo Exter, founder @ westartup
Notes de l'éditeur
- XL
- Accounting: 00:35-00:40 - XavierYou have on your left all the revenues of your company.On the right, all the spending.The Blue is the purpose of your business: PROFIT
- Financial Plan : 00:51-00:52 - Xavier
- Funding : 00:55-01:10 - MartinFriends Family and FoolsNext: LEO
- Valuation : 01:15-01:20 - XavierConvertibles bonds, sharelholder’s agreement, made-to-measure
- Valuation : 01:20-01:25 – XavierNext: MartinNow, you have to convince yourself, your partners and business angels to invest in your project
- Violonist case
- Awesome pitches are about breaking convention. About being different. About being outstanding.However… it’s important to learn how to walk before you start running. Or flying, for that matter.