School Notes

CSC454 Lecture 1

When developing a business, you essentially have two steps:

  1. Iteration: Customer Discovery and Customer Validation. Continuously iterate on an idea, identifying the scealeable and repeatable sales models that you can build on, and turning hypotheses about what people want into facts.

  2. Execution: Create customers. Then build a company.

B2C: Business to Consumer B2B: Business to Business

The hottest investment sectors today are the internet(27%), healthcare(27%) and mobile/telecom(14%).

When creating an investable venture, think big. Aim for a field that is proven to have a large amount of money and interest (search, social, music). Innovate in that field.

Characteristics of problem

-Global -Industry Disruptive -Market size: $1 billion+ -ROI is 10x original investment (not as important atm) -High Risk -Substantial improvement to an existing product/service

Looking For ideas

  • by region
  • by city
  • by industry
  • by demographic
  • world events

The Pitch

  • 60 seconds
  • passion
  • doesn't have to be structured
  • you, the problem, the opportunity, the customer, the ask(!!!)

  • have a clear goal, know your audience, be clear to the point, have passion, etc. etc. etc. etc.