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Amazing guest lecturers. from Entrepreneurial Design Class. School of Visual Arts.
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Day 1: Firm’s value = The idea’s value
On day one, all of you have is the idea. You do not have a product, customers, revenues and of course profits. Most likely, you don’t have a team either. The firm’s value is same as the value of your idea. It could be $0, $1000, or a $1,000,000. Whatever that number is, your firm’s entire value is the number.