mandell funded vision & idea

8/9/2019 Mandell Funded Vision & Idea

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Your Vision & Idea Types

By: Matt Mandell


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Sections

- Who am I- Idea Creation / Assessment

- General Thoughts- Conclusion- Questions


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Why am I talking to you?


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Where do Ideas come from?

What's broken?

What do I need?

Do you giveyourself time

to be creative?


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Game-Changing Ideas are Harder.

BladelessFan

Gramaphone

http://www.dyson.com/fans/

http://www.yankodesign.com/2008/10/10/trashing-batteries-for-brighter-sidewalks/


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Fidelity vs Convenience Products / Services


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LV vs SC Johnson


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Read More in: Trade Off


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Ideas are the easy part.

Ideation is not as

hard as execution.

(If you telling me an ideadiminishes its value, it probablyisnt worth much)


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Is my idea worth pursuing?


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What is your Goal?

FortuneFameFun

(Often you get 2 not 3.)

Sometimes what's right isn't as important as what'sprofitable.

-- Trey Parker & MattS

tone,S

outh Park,Prehistoric Ice Man, 1999


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What Scale are you thinking?

1 block celebrity City celebrity

Global celebrity


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Idea Evaluation

Velocity How fast are you moving?

Repeatability How quickly can you do it again? Margins

How much of each $ do you keep?


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My Ideas Evaluated

Velocity Repeata

bility

Margins Matts Response

DCSnacks Low Low Med Make it Passive

Store4Summer High High High Grow & Copy it

CityCentric High High Low Give it a little moretime


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Steve Jobs & Bill Gates @ D5


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An Entrepreneurs Big Mistake

Leave when you

fall out of love

Know when tofall out of love


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Business Success is:

Success = Luck + Skill + Development

Success in anything is not about being right - it'sabout being progressively less wrong, faster thanothers.

- Doug Davidoff


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Model of Business Success:

Action

Result

Expected

Unexpected

Learning


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Advisors

Board of FriendsBoard of DirectorsSmart People

FamilyLocal Billionaires*

Find people who wont lie to you and can help you craftyour idea.*Billionaire friends & board members are highly encouraged by Matt.

My idea of an agreeable person isa person who agrees with me.

-Benjamin Disraeli


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My Quick Tips

All in the DetailsLook for ideas from other verticalsVariable cost is good (esp in a down market)

Rapid IterationsFail Fast / Learn Fast


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Required Cash?

Can I starve my new idea ofresources and have it thrive??

The market gives you feedbackwhen you are an entrepreneur...

they are your boss.


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1 Page Business Plan

90 day10 year plans


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What to tell a VC (Presentation Tips)

Present Clear IdeasKnow the Market

You need experience

Very few well funded cosWhere will it be in 5-10yrs

Have aProduct PersonProgrammer on your team(If youre in tech)

Listen


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Parting Thought

You dont have entrepreneurship andinnovation without variance and disruption;

but every system is created to reducevariance and disruption.-Doug Davidoff

[email protected]@mattmandell

mandell funded vision & idea

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