TR3103 Start-up Business Case

Startup Business Case Briefing

Himawan Gunadhi, Ph.D. Consulting Professor 2010-2011

TR3103 Start-up Business Case

My Briefing Objectives
Supplement workshop in Singapore
Reinforce key aspects of the course My expectations, grading and schedule, which may differ from workshop materials

Please read the workshop materials carefully before you read my briefing or start working on your case!
2

TR3103 Start-up Business Case

Benefits of Writing the Case

Apply theory to practice Take advantage of internship working in a startup If you can write a business case you can write a business plan process is similar

TR3103 Start-up Business Case

What is Expected in the Case

Founding
Human Resource Financing Sales & Marketing Cash Flow Focus on one or two key issues and challenges; if more than one, link the two Market Development Product Development
4

Customers Angels Founders Team Building VCs Recruiting Technology Competitors

History and progress of the company (start-up process), challenges faced by the company, and the current situation

TR3103 Start-up Business Case

How The Case Should Be Written

Write the case in the style of a teaching case Include the following content:
Background and history Dynamics of founders and founding team Major issues and challenges faced by company in the past and present Market and competitive analysis Issues in the selected focus area (where analysis by the readers of the case is to be carried out)
5

TR3103 Start-up Business Case

A Good Case
It must provide sufficient details to allow the reader to grapple with the problem in realistic way It must also present the context and the protagonist (usually a founder or key decision maker) in a rich fashion It allows the reader to identify with the protagonist and other decision maker(s) in the case It allows the reader to gain some appreciation for the complexity that the real world always imposes on choices and decisions

TR3103 Start-up Business Case

Ingredients of a Good Case

Good story telling is very important substance alone is not enough The account of company history provides relevant learning points through judicious highlighting of episodes and critical turning points There is an analysis that students must perform after reading it:
it poses an action question (a decision) to be made the protagonist It provides sufficient contextual information for the student to perform some piece of analysis that will enable him/her to make the decision, or to formulate the pros and cons for making particular decisions
7

TR3103 Start-up Business Case

Typical Issues
Funding sources, timing, control and dilution Product what to build, single vs. multiple, targeting Market Entry selection of market/product, timing, business model Marketing Channels distribution model, selection, business model Internationalization timing, partner selection, financing Intellectual Property protection, licensing Expansion vs. Burn how fast to grow, risk management Staffing hiring strategy, outsourcing, local vs. remote
8

TR3103 Start-up Business Case

Pitfalls to Avoid
Not getting company permission before starting Starting too late takes 150 to 200 hours work over 6 months! Relying on too few sources of information within company Selected topic is either too confidential or complex Reader cannot carry out analysis without specialized knowledge

TR3103 Start-up Business Case

Dont forget
The issue you focus on can be in the present (outcome may not be known) or in the past (known outcome) You can disguise confidential information, e.g., company name, decision makers, product, places and dates, without losing the gist of the case You are at liberty to simplify and streamline some facts of the case in order to present a more compelling and manageable case

10

TR3103 Start-up Business Case

Case Length
A good length is 10-15 pages of text and 8-10 pages of exhibits Not too short or too long Criteria on what to include:
Information that are critical to understanding the context for the focus problem of the case Developments that provide good learning points (e.g., dynamics of founding team, creativity of founders, attitudes toward risk)
11

TR3103 Start-up Business Case

Case Analysis 2 parts

Part I Provides an assessment of the key lessons learned from the start-up process/experience of the company. You can include a broader assessment of the key strengths and weaknesses of the company beyond the content in the case write-up. Part II Focuses on your analysis of how the focal decision/problem of the case should be answered. Your analysis should be in the form of either a recommendation on what the protagonist should do, or when the data is not sufficient to do so, to provide the framework for assessing the merits and demerits of alternative courses of action, and how the decision can be made if more data are available (which means identifying what data are needed). If the case focus is historical, compare and contrast your recommendation vs. the path protagonist actually took. No more than 10 pages in length
12

TR3103 Start-up Business Case

PowerPoint Presentation
Summary of Case and Analysis Aim for 15-20 slides that can be presented in 30 minutes (without interruption) This is what you will use to discuss case and analysis with me (first + final draft meetings) Some pointers:
Flow should reflect that of case and analysis Bullets, large fonts, short sentences! Should be fairly easy to prepare once the underlying case and analysis are in shape
13

TR3103 Start-up Business Case

Structure & Assessment

Proposal
One page Word/PDF doc

Not graded purpose is to make sure students are on the right track and to give initial feedback Not graded interactive session, expect extensive feedback; late or incomplete submission may result in a penalty applied to the final grade
20% of overall grade awarded for 30 minute presentation based on the PPT. Expect final feedback on case and analysis. 80% of overall grade awarded for submitted documents (60:40 ratio between case and analysis)
14

First draft
Business Case (max 25 pages Word/PDF) Case Analysis (max 10 pages Word/PDF) PowerPoint Presentation (max 20 slides)

Final draft: Case + Analysis + PowerPoint Presentation

Final submission: Case + Analysis + PowerPoint Presentation

TR3103 Start-up Business Case

Proposal
Submit via email (Word or PDF) Feedback via email, phone call, Skype or inperson consultation (optional) Content:
Who approved the case (CEO, founder, key manager) List of interviewees and sources of information Company background, status and case focus One page limit

15

TR3103 Start-up Business Case

First Draft
Completed history and progress of company, challenges faced, and the situation up to the case decision time point Completed write-up of the focus area that you have chosen to dwell in detail Completed initial analysis of the case At this stage, you should indicate whether the company wants the data disguised Email documents to me by deadline 55 minute one-on-one will be set up within a week:
Present your case and analysis drafts to me via PowerPoint I will provide extensive feedback on presentation, case and analysis drafts
16

TR3103 Start-up Business Case

Final Draft
Case study and case analysis to be fully completed Presentation deck to include both the case and case analysis Presence of the company representatives at the presentation is not expected but feel free to invite them if they would like to attend Email documents to me by deadline One-on-one review session of 55 minutes will be arranged with same protocol as first draft session Grading will be based on presentation to me (20% of total grade)
17

TR3103 Start-up Business Case

Final Submission
Submit final documents for case, analysis and presentation Presentation will not be graded (already graded at final draft presentation) Email documents to me by deadline These documents will be forwarded to NUS together with final grades Grading: 80% of total grade based on written submissions (60:40 ratio between case and analysis)

18

TR3103 Start-up Business Case

Grading Criteria for Presentation

Accounts for 20% of final grade Provision of sufficient company background information for insightful discussion and analysis, especially market and competitive analysis (20%) Demonstration of good understanding of the issues and challenges faced by the company for the specific focus/topics of the case. (20%) Choice of relevant analytical tools/frameworks and their effective applications to provide insightful analysis of the issues and challenges faced by the company (20%) Clarity and quality of the writing (20%) Clarity and quality of the oral presentation (20%)
19

TR3103 Start-up Business Case

Grading Criteria for Case

Accounts for 48% of final grade Provision of sufficient company background information for insightful discussion and analysis, especially market and competitive analysis (25%) Demonstration of good understanding of the issues and challenges faced by the company for the specific focus/topics of the case. (25%) Good description of the general start-up process in the context of business and market dynamics, especially on the specific details on how opportunity was recognized by founders and the key stages of the initial start-up process (25%) Clarity and quality of the writing (25%)
20

TR3103 Start-up Business Case

Grading Criteria for Case Analysis

Accounts for 32% of final grade Demonstrate good understanding of the issues and challenges faced by the company for the specific focus/topics of the case (37.5%) Choice of relevant analytical tools/frameworks and their effective applications to provide insightful analysis of the issues and challenges faced by the company (37.5%) Clarity and quality of the writing (25%)

21

TR3103 Start-up Business Case

NCBV 10/11 Case Schedule

Milestone Briefing in BV Case proposal due Feedback & consultation on proposal First draft (case + analysis + PPT) due First draft presentation & feedback in Philadelphia Final draft (case + analysis + PPT) due Final draft presentation & feedback in Philadelphia (GRADED 20%) Final submission (case + analysis + PPT) (GRADED 80%) July 10 batch Early Nov, 2010 Jan 15, 2011 Within one week of submission May 1, 2011 Early May, 2011 June 1, 2011 Early June, 2011 July 1, 2011 January 11 batch Early May, 2011 July 15, 2011 Within one week of submission Nov 1, 2011 Early Nov, 2011 Dec 1, 2011 Early Dec, 2011 Jan 1, 2012

22

TR3103 Start-up Business Case

NCSV 10/11 Case Schedule

Milestone Briefing in SV Case proposal due Feedback & consultation on proposal First draft (case + analysis + PPT) due First draft presentation & feedback in SV Final draft (case + analysis + PPT) due Final draft presentation & feedback in SV (GRADED 20%) Final submission (case + analysis + PPT) (GRADED 80%) July 10 batch Oct 2010 Jan 15, 2011 Within one week of submission May 1, 2011 Early May, 2011 June 1, 2011 Early June, 2011 July 1, 2011 January 11 batch Apr 2011 July 15, 2011 Within one week of submission Nov 1, 2011 Early Nov, 2011 Dec 1, 2011 Early Dec, 2011 Jan 1, 2012

23