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Thursday, September 18, 2008
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Coaches' Tool Kit to Assist Entrepreneurs in Securing Venture Financing
This workshop introduces a set of 6 surveys to assess the readiness level of the entrepreneurs for securing venture financing for their business opportunity. The surveys include entrepreneur aptitude test, product potential survey, risk profile, venture development survey, business plan quality assessment, and venture valuation.
Dr. Randy Goldsmith has spent a lifetime involved with entrepreneurial ventures as a CEO and as a coach. His venture development tools and methods are being used around the world to enable coaches, counselors, and mentors to accelerate new venture development and improve entrepreneurs’ potential for success. Goldsmith has worked directly with more than 1000 entrepreneurial startup ventures of which several hundred raised millions in private equity and debt financing.
The first survey in the tool kit was originally developed by Goldsmith for the NASA Regional Technology Transfer Program to assist in the transfer of federal technology to private sector companies. The Venture Readiness Survey allows the entrepreneur and coach to determine in a stepwise process which technical, market, and business steps have been adequately completed and which are the appropriate next step priorities. The Product Readiness Tool characterizes its commercial potential. The Risk Readiness Survey identifies how much risk has been eliminated from the business model based upon strategies for execution, product and market development, human resources and financing. The Business Plan Readiness survey provides a qualitative and quantitative approach for assessing the completeness and the underlying business assumptions in the written plan. The Valuation Tool provides the coach and the entrepreneurs with 5 methodologies for determining the venture’s investment value for those seeking private equity investments.
The tool kit is designed to be deployed sequentially in rapid fashion to move the entrepreneur quickly down the venture development pathway. It provides coaches with a play book for offering strategic guidance to enable their clients to be better prepared more quickly and efficiently in launching their ventures.
Randy Goldsmith, PhD, President and CEO, Mississippi Technology Alliance, MS