Premier Sponsor

Spiegel Sohmer

 Spiegel Sohmer is a firm of attorneys offering state-of-the-art expertise to a diversified business clientele seeking solutions that are innovative, concrete, and pragmatic. Our firm groups some forty five attorneys who concentrate principally within three broad specialties: business law (including Intellectual Property), tax law and litigation.  Spiegel Sohmer has extensive experience representing companies at all stages of their life cycle, from start up through to exit, and also represents a wide array of investors: www.spiegelsohmer.com 

Gold Sponsor

Richter

Richter is, above all, a financial consulting services firm offering strategic support and has been a recognized member of the business community since 1926. Richter entire team consists of more than 450 partners, experts, high-level professionals and administrative employees. Because of this collective expertise, our firm has an unrivalled reputation and has earned the respect of the business community.

National Bank helps home-grown businesses expand by offering them personalized service and banking solutions adapted to their needs. We strive to develop integrated, diversified and innovative business solutions that will meet the needs of your business at every phase of its existence. We offer a full range of financial services to individual clients, SMEs and large companies. Whatever your sector of activity, our team of experts will be able to advise you and assist you with every stage of your business growth. www.bnc.ca

Silver Sponsors

Futurpreneur Canada

Futurpreneur Canada is the only national, non-profit organization to provide financing, mentoring, and support tools for every business stage to aspiring business owners and startup founders: www.futurpreneur.ca

Kruger

Founded in 1904, Kruger Inc. is a major producer of publication papers, tissue, lumber and other wood products, corrugated cartons from recycled fibres, green and renewable energy and wines and spirits. The Company is also a leader in paper and paperboard recycling in North America. Kruger operates facilities in Quebec, Ontario, British Columbia, Newfoundland and Labrador and the United States. (www.kruger.com

 


 

Community Partners

NACO Canada

The National Angel Capital Organization (NACO) accelerates a thriving, early-stage investing ecosystem in Canada by connecting individuals, groups, and other partners that support Angel-stage investing. NACO provides intelligence, tools and resources for its members; facilitates key connections across networks, borders and industries; and helps to inform policy affecting the Angel asset-class.

Anges Quebec

Anges Québec’s mission is to help its angel investors make profitable investments in innovative companies in a wide range of industries and in all regions of Quebec. To this end, Anges Québec identifies the best entrepreneurs and business projects and supports the Anges Québec members who finance them.

RJCCQ

Le RJCCQ soutient un réseau de jeunes chambres de commerce et d’ailes jeunesse à travers le Québec, représentant plus de 8 000 jeunes professionnels, cadres, travailleurs autonomes et entrepreneurs âgés de 18 à 40 ans.

JCCM

La Jeune Chambre de commerce de Montréal (JCCM) est un regroupement de près de 1 600 jeunes cadres, professionnels, entrepreneurs et travailleurs autonomes âgés de 18 à 40 ans, ce qui en fait un des plus grands réseaux de jeunes gens d’affaires au monde.

Hacking Health

Hacking Health is designed to improve healthcare by inviting technology creators and healthcare professionals to collaborate on realistic, human-centric solutions to front-line problems.

NM

Noticias Montreal is a Spanish-language media based in Montreal and founded by a group of immigrant journalists. Its main goal is to provide the latest news, information and features about Montreal, Quebec, Canada. NM wants to offer a helping hand in the immigration and integration process of the numerous newcomers as well as promoting the Spanish language.

La Gare

La Gare is a collaborative workspace. A place to work, connect and learn in the heart of the Mile End.

 

Is Live Planning the Key to Launching Sustainable Startups?

Posted by Jonathan Greechan on 2013-08-12

In a recent Wired article, Palo Alto Software CEO, Sabrina Parsons, asks “what causes some startups to succeed while others to fail?”. Intrigued by the Founder Institute’s graduate success rate, Parsons touts the Institute’s focus on lean methodologies as the key to success. By encouraging this “fail fast” strategy in the Institute’s four-month program, new startup founders also engage in “live planning” to ensure success in the long run.

Below, a portion of Live Planning: The Key to Launching Sustainable Startups has been republished;

 

"If you believe popular consensus, the answer to solving economic problems lies in Silicon Valley. According to a Kauffman Foundation study, startups are responsible for most of this country’s net growth. Yet, another study from the Harvard Business School found that three out of four startups will still fail. Startups need to grow sustainably to have any significant economic impact.

What causes some startups to succeed while others fail? One well-known startup accelerator’s focus on business planning strategies is leading to tremendous success and may provide the antidote to failing startups.

The Founder Institute is a business accelerator program for some of the world’s most promising high-tech entrepreneurs. The highly-selective program has launched over 800 companies since its inception in 2009, and an impressive 91 percent of these companies are still in business. The Founder Institute’s success is largely based on the program’s world-renowned mentoring approaches and emphasis on the “lean startup” method combined with effective business planning and tracking strategies.

For high-tech startups like those launched through the Founder Institute program, the lean startup methodology is one way to determine marketability of a product. This methodology encourages a ”fail fast” strategy that allows entrepreneurs to quickly pivot and alter their product to meet market demand before heading down the wrong path.

While this approach is a great way for entrepreneurs to quickly determine the real problem their product solves, market experimentation can’t replace business planning all together. Once a startup’s business model has been validated using strategies like those encouraged by the lean startup method, it’s important that entrepreneurs engage in “live planning” to ensure success in the long run.

Live planning is a two-step process that includes both planning and performance tracking. With live planning, an entrepreneur creates an expense budget and a sales forecast, high-level strategic goals, and ties those goals to milestones with implementation dates. The entrepreneur then uses the financial forecast and the milestones and tracks their progress against actual results, which gives a company the ability to quickly understand missed assumptions, and pivot accurately and in the right direction. Live planning not only teaches entrepreneurs to think ahead, but also helps clarify quickly whether they are on the right path towards profitability and positive cash flow.

The key to live planning is in measuring actual performance against the plan, once core “product/market fit” assumptions have been validated. Instead of traditional business planning where the plan is often not revised, live planning constantly evolves the plan based on actual results and real-time performance tracking."

 

Click here to continue reading Live Planning: The Key to Launching Sustainable Startups.

 

About Palo Alto Software:

Palo Alto Software is a provider of small business tools worldwide with the single goal of helping other small businesses grow and become successful. We now offer several software products and an extensive library of free expert content to help small businesses succeed.

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