1. From Technology Ideas to Venture Business KSEA Technology Entrepreneurship Seminar Richard Okumoto

2. o The Technology Idea o Proof-of-Concept: the minimum viable product theory o Simultaneous Equation: o Experiment & Innovate – Validated Learning o Collect Early Adopters – Cash Inflow o Entrepreneurship is Management o Minimum Viable Team/Organization: External & Internal o Process & Discipline o Go-to-Market: Gain Traction o Accelerate

3. Angel / Strategic Partner Money Your Money/ Friends or Family Money o The Technology Idea o Proof-of-Concept: the minimum viable product theory o Simultaneous Equation: o Experiment & Innovate – Validated Learning o Collect Early Adopters – Cash Inflow o Entrepreneurship is Management o Minimum Viable Team: Internal & External o Minimum Viable Organization o Process & Discipline o Go-to-Market: Gain Traction o Accelerate Venture / Strategic Partner Money

4. o Before you start – Can you answer the following questions? o Is there a Business Opportunity? o Is it Emerging, Mature, or Declining? o Do you have a Value Proposition? o Are you solving a Customer Problem? o Can you make money?

5. “You are not just building a product – You are building a start-up company”

6. Strategic Thinking Asking the Right Questions Framing the Information Sense Making Intuition and Strategic Imagination External Insight Internal Insight

7. Fast Track Business Plan “Assumptions Testing & Tracking”

8. Fail-Safe Planning “The Pre-Mortem Process”

9. o Will help answer the following questions: o Is there a Business Opportunity? o Is it Emerging, Mature, or Declining? o Do you have a Value Proposition? o Are you solving a Customer Problem? o Can you make money?

10. What is the Minimum Viable Product Theory ?

11. Validated Learning Yes, the Scientific Method is still alive and it works!

12. Validated Learning Experiment & Innovate

13. Strategy Formulation External Analysis Internal Analysis Customer Analysis Competitor Analysis Market Analysis Environmental Analysis Financial Metrics Customer Metrics Financial Metrics Financial Metrics Operating Metrics Miller / Okumoto, Inc. Financial Metrics Development Metrics

14. Find someone who will pay you! Early Adopters = Best Validation

15. Entrepreneurship is Management

16. Translate into Operations Financial Metrics Strategic Priorities Financial Metrics Programs Financial Metrics Projects Financial Metrics Roadmaps Internal Alignment Miller / Okumoto, Inc.

17. Minimum Viable External Team o Intellectual Property Protection o General Legal o Accounting & Tax o Banking Services o Advisors o Board o Investors

18. Minimum Viable Internal Team o Development o Operations o Marketing/Sales o Finance

19. Minimum Viable Processes o Development o Operations o Marketing/Sales o Customer Support o Finance

20. Answer the Questions: 1. How will you connect with Customers? 2. How will you sell to Customers? 3. How will you support Customers?

21. Answer the Questions: 1. How will you accelerate Staffing? 2. How will you fund growth? 3. How will you ramp-up Production? 4. How will you support more Customers? 5. How will you develop new Products?

22. Strategic Thinking Strategy Formulation Translate into Operations Strategy Execution And Management Align, Execute, Corrective Action (Pivot), Align, Execute…

23. “Perseverance” “Subject Matter Expertise” “Business Management” “Adaptability”