Slides from my WSE TEU class 13th March 2019

1. Entrepreneurship/business
workshops
#2 Class 1
Richard Lucas
13th March 2019
www.richardlucas.com

2. Recap
Expectations/commitments
Self Awareness 10.10. 2018
Communication and feedback 17.10. 2018
Management, organization & processes 21.10. 2018
Business ideas 6.11. 2018
Ideas and getting things started 13.11.2018
People and learning from mistakes 20.11.2018
Sales and marketing 27.11.2018

4. Goals/content
• Improve understanding of entrepreneurship
• Make you aware of
– your strengths and capabilities
– Entrepreneurs’ skills and competences
• Enhance your skills & competences
• Share my experience. Tips. Tricks and lessons learned
• Special guest(s)
• Doing Projects
richardlucas.com

5. Lessons learned from 30 years of failure and
some successes
Key facts
Started 35 ventures
14 still trading
Started with GBP10K in 1991
invested about xx mln pln from
dividends
No exits, living of dividends
About 700 employees
“2 year” rule
Wondeful clients
Value of my share ??
maybe xxx (inc. two office
buildings)
Aims –
Learn from my mistakes
Tell you what I wish I had known
then and what I know now.
richardlucas.com

6. Assignments
• Entrepreneur interview
• Pitch a business idea
• Research and start a social or business
enterprise
richardlucas.com

7. Entrepreneur interview
• Find an entrepreneur
• Interview them
• Publish the result
• Share what lessons you’ve learned
richardlucas.com

8. Entrepreneur interview
Find an entrepreneur, interview her/ him, publish it, send me a link
(10-14 year olds did it, so can you)
richardlucas.com

9. Entrepreneur interview
• Find an entrepreneur
• Prepare for interview
• Interview them
• Write up result
• Publish the result
• Share what lessons you’ve learned
• Deadline 21st April
richardlucas.com

10. Questions for an entrepreneur
richardlucas.com

11. Questions for an entrepreneur
What they do
Why they do it
What inspires them
Where they got the idea
Major successes/Challenges/sources of price
3 Cs 3 Ps, S
Your own questions
richardlucas.com

12. Pitching a business ideas
Can be a real idea
Can be a made up idea
(In a team of up to four or by yourself.
Deadline 21st April 2019)
richardlucas.com

13. Pitching/Deck
1 Start with the problem your products or service solves.
2 Explain why this matters (not to you, but the clients)
3 Give information about sales/clients, (or potential clients )
4 Talk about markets and clients –types of clients, priority clients and
why.
5 Describe your business model
Unit Economics & Profit you expect to make out of each type of client
6 LTV vv COA
richardlucas.com

14. Pitching /2
7 Sales and marketing processes
8 Competitive landscape (after doing Google search
9 barriers to entry (Warren Buffett’s “moats”) if you start succeeding.
10 Your competitive advantage that will keep you ahead.
11 Your team, leadership and ownership.
12 End games/exits.
13 Cost forecast
14 Needed investment, deal on offer
richardlucas.com

15. Guy Kawasaki 10-20-30 Rule
richardlucas.com

17. Research and start a social or business
enterprise
My ideas (or your ideas)
In teams
Risk of failure (assess you on your approach as
well as effort)

18. Social Enterprise

19. Videos
Buddy Benches https://ed.ted.com/on/V69YSpvi
Be More Us https://ed.ted.com/on/YdPpnJyU
10 20 30 rule https://ed.ted.com/on/Dtvo3mP8

20. Entrepreneurship/business
workshops
#2 Class 1
Richard Lucas
13th March 2019
www.richardlucas.com