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Mardi 12 Avril

1 - Meeting AW:
.Action Plan: accepted
.Value Creation: R&D and Non Recurring Engineering Fees has to be implemented
.Stages of Financing: create a model which makes the different stages understandable
.Comparison of EBMF and SEAM:
similarities: offerings - product/services ; Reasoning - Value ;
Capabilities - Core Competences/Technology
general: EBMF is an ontology which summarises the different business models
SEAM is more theory based with a whole - composite view of the business
to do: better names on offerings which captures the features

2 - Read the book Term Sheets and Valuation by Alex Wilmerding
Term sheets: Confirms the importance of legal issues stated in the VC due dil book
Valuation: Comparables when exist otherwise back to basic which is profit and cash flow
Important issues: Analysing exit value, gross IRR in the range of 40-60%
over 4-5 years i.e. investment multiple of 3.8-10.5

3 - General thoughts
since comparables are very important, once the market is defined in the model, an interactive tool should search the web for companies in that market and retreive all relevant information such as: size, transaction values, revenues, margins
Posted by Rolf Lindbäck on Tuesday 12 April 2005 at 18:30