GAVID001 – BME Start Up Genius
August 2018
Summary
- Stages of Entrepreneurship
- Barriers to get through
- What to work on to get there
Entrepreneurial Journey – Levels
Level 1: $0-$40k/year
Level 2: $40-$100k/year
Level 3: $100k-$500k/year
Level 4: $500k-1mil/year
Level 5: 1mil +
Turn around time to get to where you want to be applying principles discussed: 2 years – longer term: 5-8 years.
Profit/Stability matters MOST.
Core Things at Level 1:
- Idea/Concept – Solving Problems/Solutions
- Early/Pre-Sales
- Rough Processes (1 pagers)
Core Things at Level 2:
- Team Size
- Team Culture/Approach
- Building more through Processes
- Getting YOU less involved in every sale
The 3 Magic Questions:
- Why are you in business?
- What are your base challenges right now?
- If you could wave a magic wand to fix shit, what would that look like?