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Startup 101

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An introduction to the world of startups, defining the main terms, and contextualizing the roles of entrepreneurs and intrapreneurs in our society

Published in: Economy & Finance, Business
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  • I think this is great, and I don’t mind contradictions because that’s part of the fuzzy front end of design and innovation… but New Entrepreneurship and Innovation needs help. It needs a mix of the old and the new. It needs to go beyond ’tech only’.

    This deck indicates entrepreneurship is best reflected in ICT accelerators at one point. Also, the BMG canvas is followed by a statement about process going ‘bye-bye’. Tech accelerators have processes.

    Since entrepreneurship and its value creation, delivery and capture buddy innovation have processes and the best processes need to be part of first steps, InnovoGraph is using ICT to make startup and innovation technique more accessible to more people at speed:

    http://youtu.be/QPQhsHEOhco

    If everyone has to answer the accelerator questions right or lose out, that’s a lot of people who may have something but just need a few more steps to get in. But next is moving accelerator and innovation ecosystem practices out of the ‘tech only’ world. Thankfully I’m seeing that in the accelerator space.

    It’s a design and innovation contradiction that adds value to say ICT and some of the current ICT development PROCESS thinking can be used as part of the infrastructure for non-tech innovation. Another process thing, if agile only works for software development, it’s not that great of a deal. However, simply being both agile and strategic are still okay concepts for everyone. LEAN Startup references the Toyota Way. That’s the mother of all process.

    Blank’s customer development, LEAN Startup, agile and tech accelerators are at least partially about using knowledge to share knowledge. Some kind of lessons learned capture in the startup process only makes sense. Going beyond capturing basic lessons learned is knowledge management. Unorganized KM content is what’s in the hard drives of most founders.

    That is to say founders who aren’t lucky enough to be great at code, wrap together a code-oriented package, and market that code just with a website and/or subsequent acquisition.

    That’s a good reminder about VC, Franck. Since VC and accelerators are mostly about ICT, they can afford the losses since the hits are given such massive valuation weights compared to the rest of civilization’s issues.

    I’ll be posting SlideShares soon myself. Be nice to me.
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  • Great presentation
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  • Thank you for sharing, Franck
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  • fantastic!
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Transcript of "Startup 101"

  1. 1. Startup101Entrepreneurship/IntrapreneurshipWednesday, May 15, 13
  2. 2. THEE.WORDEntrepreneursareinnovatorswhouseaprocessofshatteringthestatusquooftheexistingproductsandservices,tosetupnewproducts,newservicesThepursuitofopportunitywithoutregardtoresourcescurrentlycontrolled.Howard StevensonSchumpeterWednesday, May 15, 13
  3. 3. From 1980–2005, firms less than five years old accounted for all net job growth in the UnitedStates. (Business Dynamics Statistics Briefing: Jobs Created from Business Startups in theUnited States, January 2009)WHYWENEEDTHEM?Wednesday, May 15, 13
  4. 4. RiskAversion“Wehateloosing” “Wearedelusional”Overconfidence-prospecttheory-Those considered to be entrepreneurs are not inherently greater risk-takers than non-entrepreneurs. Andsuccessful entrepreneurs show no different risk propensities than unsuccessful.chapter 2, “risk takers and taking risks” Drs William B Gartner and Jian LiaoRational2IrrationalforcesinoursocietyCANYOUBEONE?Wednesday, May 15, 13
  5. 5. WHEREDOLARGECORPORATIONCOMEFROM?Birch and Medoff estimate that between 1988 and 1992, 4% of all firms - about 350 000 “gazelles” - generated 60% of all the new jobs in the US”Wednesday, May 15, 13
  6. 6. REVENUE0timeEXAMPLE5 10 15S&P 500 Lifespan is 15 years on averageRichard Foster / YaleWednesday, May 15, 13
  7. 7. REVENUE0timeEXAMPLE? 5 10 15S&P 500 Lifespan is 15 years on averageRichard Foster / YaleWednesday, May 15, 13
  8. 8. WELCOMETOTHEENTREPRENEURIALJOURNEYJosephCampbellThe Hero with a Thousand FacesWednesday, May 15, 13
  9. 9. GeorgeE.P.BoxEssentially,allmodelsarewrong,butsomeareuseful.DISCLAIMERWednesday, May 15, 13
  10. 10. INSPIREDISCOVERFOUNDERSTARTUPSCALE-UPLEADERSTHE ENTREPRENEUR’S JOURNEY (THE EJ)Wednesday, May 15, 13
  11. 11. 21st CENTURYENTREPRENEURSHIPWednesday, May 15, 13
  12. 12. BEWARETHESTARTUP MYTHS!Wednesday, May 15, 13
  13. 13. FOUNDER“FOUNDERS ARE INDIVIDUALS WHO CREATE, EXECUTE,AND INVEST IN IDEAS TO TURN THEM INTO STARTUPS”TimeMoneyTalent...Get Shit doneReal things (you can see them)etc...From nothing (inventors)By associating ideasBy complementing existing ideas etc...-Team Genesis-**Wednesday, May 15, 13
  14. 14. BUSINESSPLANSAREDEADWednesday, May 15, 13
  15. 15. BUSINESS MODELABUSINESSMODELDescribestherationalofHowAnorganizationcreates,deliversandcapturevalues AlexanderOsterwalderWednesday, May 15, 13
  16. 16. MVPAProductDevelopmentstrategyusedforfastandquantitativemarkettestingofaproductorproductfeatureisanapproachforlaunchingbusinessesandproducts,thatreliesonvalidatedlearning,scientificexperimentation,anditerativeproductreleasestoshortenproductdevelopmentcycles,measureprogress,andgainvaluablecustomerfeedbackLEAN STARTUPWednesday, May 15, 13
  17. 17. IndividualsandinteractionsoverprocessesandtoolsWorkingsoftwareovercomprehensivedocumentationCustomercollaborationovercontractnegotiationRespondingtochangeoverfollowingaplanAGILE DEVELOPMENTGOOD BYE PROCESS!Wednesday, May 15, 13
  18. 18. STARTUP“A startup is an organizationf o r m e d t o s e a r c h f o r arepeatable and scalablebusiness model.”Steve BlankWednesday, May 15, 13
  19. 19. ACCELERATORAccelerators are organizations that provide cohorts of selectednascent ventures seed-investment, usually in exchange for equity,and limited-duration educational programming, includingextensive mentorship and structured educational components. Theseprograms typically culminate in “demo days” where the venturesmakepitchestoanaudienceofqualifiedinvestors.Wednesday, May 15, 13
  20. 20. ACCELERATOR-IMPACTWednesday, May 15, 13
  21. 21. VC / MICRO VC / BUSINESS ANGEL /CROWDFOUNDINGVenture capital (VC) has delivered poor returns for more than a decade. VC returnshaven’t significantly outperformed the public market since the late 1990s, and, since1997, less cash has been returned to investors than has been invested in VCOnly 16 percent of the fastest-growing and most successfulcompanies in the United States had venture investors. (Right-Sizing the U.S. Venture Capital Industry, June 2009)ACCESS TO CAPITALWednesday, May 15, 13
  22. 22. STARTUPS ANDFIRMS AREDIFFERENTWednesday, May 15, 13
  23. 23. (FIRMS) (STARTUPS)PASSIONCO-FOUNDERS/TEAMDEVELOPMENTCUSTOMERDEVLEAN/AGILESTRATEGYHRMARKETING/SALESQUALITYMANAGEMENTBPR/INNOVATION/R&D... INTRAPRENEURSBUSINESSPLAN BUSINESSMODELSWednesday, May 15, 13
  24. 24. Shannon number108110123 7 billion peopleyou will fail a lot!Atoms in the known universeENTREPRENEURSHIPIFENTREPRENEURSHIPWASAGAMEWednesday, May 15, 13
  25. 25. fitness functionYour computerHOW TO PLAY THE ENTREPRENEURIAL GAME?Wednesday, May 15, 13
  26. 26. TEAMS>IDEA65% of startup (high growth) failures are due to issues within the management team. Not Failed Strategy Not failed technology.Not failed market acceptance. Team issues. Specifically the founding team. (Noam Wasserman, The Founder’s Dilemmas.Anticipating and Avoiding the Pitfalls that can Sink a Startup)Wednesday, May 15, 13
  27. 27. constantWednesday, May 15, 13
  28. 28. Inside entrepreneurs who follow the goal of the organizationINTRAPRENEURSHIPWednesday, May 15, 13
  29. 29. D. MVTA. Self Awareness /BUILD YOUR ASSETSB. Co-founderDISCOVERYC. Co-founderACTION-DATINGE. sTARTUPSERIAL ENTREPRENEUR- CO-FOUNDER DEVELOPMENT CYCLE -Wednesday, May 15, 13
  30. 30. ENTREPRENEURS:GETOUTSIDEOFTHEBUILDINGINTRAPRENEURS:GETOUTSIDEOFYOURDEPARTMENTWednesday, May 15, 13
  31. 31. ACTION > THINKING TO EXTAND THE “UNKNOWN - UNKNOWN”BCBusiness Decision??KNOWLEDGEEntrepreneurBounded rationality is the idea that in decision-making,rationality of individuals is limited by the information they have, thecognitive limitations of their minds, and the finite amount of timethey have to make a decisionReinhard SeltenWednesday, May 15, 13
  32. 32. @PEIGNOIRTHANKYOU!Wednesday, May 15, 13
  33. 33. @PEIGNOIRFRANCK@STARTUPWEEKEND.orgTHANKYOU!Wednesday, May 15, 13
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