When i grow up i want to be an entrepreneur 2013
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When i grow up i want to be an entrepreneur 2013

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  • Stress the early tentativesStree the importance of timing
  • Paradigm shift, from mainframe / mini to microcomputersMicrosoft technology + small/faster/less expensiva projectsGood enough / Great value for your money
  • Strategy is in between missione and prioritiesMission to take most important decisionsPriorities for daily decision. Helps understand what’s important and above all what’s NOT important

When i grow up i want to be an entrepreneur 2013 When i grow up i want to be an entrepreneur 2013 Presentation Transcript

  • When I grow up I want to be an entrepreneur Augusto Fazioli augusto.fazioli@gmail.com
  • • • • • Information Technology System Integrator From 1 to 330 employees in less than 10 years Valued 80ML€ at first VC round in year 2000 Sold to a listed company in 2003
  • Success factors Lessons learnt
  • How it started • When in the USA tried to open a disco and later to export tennis sport accessories • Early brainstorming at Microsoft USA late 80’s • The first 2 page business plan had not even a name • Abrubtly left Microsoft and incorporated in Italy in 1991
  • Judo vs Sumo: we chose a Judo strategy
  • We had a Mission & Priorities • Mission • «…At Iris we want to build something new, long lasting and with no boundaries. We want to integrate processes and technologies thanks to a consulting offering based upon strong methodologies and competencies. We want to build a group of people willing to grow and work in armony…» • Priorities year 2001 • Scalability • Fast delivery • Highly visible clients and projects
  • Think big, don’t be shy • Credito Italiano • DSS branch profitability • Rinascente • DSS buyer • Sociètè Generale • Treasury front end
  • We focused on the most important asset • 360° Performance review • In search of organized chaos • New arrivals presentation • Barbeque • Confession •
  • We stopped and think more often than our agenda would suggest • The lake • Corporate retreat • Workshop
  • We went over the speed limit • Project IrisCube: Mission Possible! • Revenues 40ML • IPO • 300 people • Venture capital funding • M&A and related difficulties • • • • Acquired the wrong companies People integration Methodology Values
  • The Internet bubble explodes and the toy is broken • Many customers cancelled entire projects • Consultants back in the office with no space for everyone • 8ML€ loss in 2002
  • When tackling tough problems, we did not hesitate, the faster the better • Restructuring plan • Massive layoff of almost 50% of the workforce • Closing of Paris, Turin, Verona • Sell off of software factory in Moldovia • In less than 12 months back to a positive EBITDA… • … restructuring debt however brought a negative EBIT • Sold the company in July 2003
  • Success factors • Timing • Judo vs sumo • Mission & Priorities • Think big, don’t be shy • Focus on the most important asset • Stop and think • When tackling tough problems, the faster the better
  • Success factors Lessons learnt
  • How do you start a new business? • • • • Brain storming Selling your dream Plan the unplanned and design a Plan B Give it a try with smaller ventures • • Timing Luck Business Our success was due It takes time, start now! to timing and 50% 50% plan to luck. The rest was intelligence.... Jeff Bezos - Amazon
  • Why you start a business To build something • Built to Last – Jim Collins • The HP Way – David Packard ? Just to make money
  • The 3 most important factors • Choose the right people • Choose the right people • Choose the right people • Right people is not necessarily the smartest but thos in line with your values. If your team is made up of the «right» people • You might argue for insignificant details • You argue NOT for the critical decisions
  • Other success factors • A very good idea, not necessarily great and certainly not necessarily unique • Execution ability • Be resilient, no matter of much stretegic planning you have done, uncertainty is the norm
  • Think big even when you are small • Do not rest on «easy» customers • Captive market • Personal contacts • Be brave, think big & international • Dry run & Presentation scripts
  • Some reading Augusto Fazioli augusto.fazioli@gmail.com • Maverick – Ricardo Semler • Breakthrough Thinking: The Seven Principles of Creative Problem Solving - Gerald Nadler & Shozo Hibino • Beware the Naked Man Who Offers You His Shirt – Harvey Mackay • Emotional Intelligence – Daniel Goleman • Lateral Thinking – Edward De Bono • Built to Last – Jim Collins • From Good to Great – Jim Collins • Only the paranoid survive – Andy Groove • The HP Way – David Packard • The Long Tail – Chris Anderson