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Igniter Exploration Deck
 

Igniter Exploration Deck

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A conversation primer in the exploration of practical approaches to transformative venturing and investment.

A conversation primer in the exploration of practical approaches to transformative venturing and investment.

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    Igniter Exploration Deck Igniter Exploration Deck Presentation Transcript

    • Exploration Deck A conversation primer in the exploration of practical approaches to transformative venturing and investment.
    • Common experiences in venturing call for new approaches • Common experiences: – The earlier the stage, the less applicable or effective conventional management practices tend to be – The deeper the level of system change being sought, the less effective conventional planning approaches tend to being – The ‘earlier’ and ‘deeper’ the venture, the greater the influence of the values and style of key stakeholders and leadership • Essentially, transformative venturing is about creating a stable state far from equilibrium. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 2
    • Venture investing involves much more than just dollars • Venture investing involves 3 forms of capital – Financial – Social – Intellectual • In the overlaps there is leverage – financial + social = ? – financial + intellectual = ? – social + intellectual = ? • At the centre is the fulcrum where the most powerful approaches will be found – financial + social + intellectual = ? This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 3
    • Look ‘early’ and ‘deep’ to develop the most applicable approaches This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 4
    • Initial observations in transformative venturing Challenge is to employ capital (all forms in synergy) as a productive catalyst Readiness indicators •Trust •Clarity •Momentum Requisite Conditions •Basic financial stability •Core competency coverage Accelerating conditions •‘Venture vortex’ alignment •Active, appropriate network This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 5
    • Initial thoughts on practices for transformative venturing and investing Conventional Systems Transformative Strategy Strategy investment practice* Intellectual •expert advice •wisdom in community 1.“Venture Votex” •directive •co-creative 2.“Viable System engagement Model” Financial •invest in plans •invest in conditions 3.“Deal Day” •seek surety •create space 4.“Seed stability •control risk •comfort with unknown fund” Social •directly managed •dynamic 5.“Iggy-Active •linear •fluid Network” •referral based •interconnected * Further explanation on the following slides. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 6
    • Practice 1: “Venture Vortex” • A comprehensive venture alignment framework – Frames questioning – Describes interconnection – Aids in due diligence and optimization • The greater the alignment of the venture, the greater the efficacy of the investment This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 7
    • Practice 2: “Viable System Model” • Developed by Stafford Beer • Systems science of organization – For business system diagnostic and design • Core principles for designing and organizing a venture to fulfill a purpose – Wikipedia • http://tinyurl.com/3cfyz9 – Highlights on Igniter blog • http://tinyurl.com/23v7yt This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 8
    • Practice 3: “Deal Day” • A co-creative approach to deal structuring • 1 day session with venture team, investors, and key community members – Review and update Venture Vortex alignment assessment – Determine venture condition measures and activities • Requisite conditions – Basic financial stability – Core competence coverage • Accelerating conditions – Venture Vortex alignment – Active and appropriate network – Structure deal to most catalyze venture conditions and take advantage of the clout in the investment process • Recognize capital’s clout as attractor, influencer, and enforcer This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 9
    • Practice 4: “Seed stability fund” • First, and foremost, ensure plan for basic financial stability – Financial capital • Basic cash-flow break-even, or • Sufficient to achieve crtical milestones that will enable next round funding (also sufficient time to close funding) – Social capital • Key connections and relationships related to the above milestones – Intellectual capital • Venture Vortex alignment to focus in on core activities and identify key milestones, activities, and resources • Shared experiences from venturers that established basic financial stability • Second, and possibly in parallel, additional capital can be applied for investment in accelerating conditions This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 10
    • Practice 5: “Iggy-active network” • Whole portfolio network activation – Leverage social capital from past investments – Enable social capital sharing and leverage among the investees • Supported through online network development – LinkedIn • Document work history on behalf of investees’ key personnel • Encourage them to connect their network – offers the network of entire portfolio and their networks to their contacts – Social networking community platform • E.g. Ning + del.icio.us (or Twine) • Shared learning... intelligence... consciousness... – Pro-actively leverage for • Deal flow, due diligence, specific capital/resource support requests This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 11
    • Process of exploration • Those who are on ‘the frontier’ of transformative venturing and investing have a wealth of experience and observations that have yet to be articulated and turned into practice – Step 1: explore and articulate that wealth YOU ARE HERE • Series of intentional conversations with investors on ‘the frontier’ – Step 2: transform insights into implementable practices • Some initial concepts have been presented in this deck – Step 3: just do it - put it into practice • Currently envisioned as small, dedicated, time-limited experimental fund (e.g. 5 investments, 18 months) – Step 4: revisit and.. repeat? This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 12
    • Exploration guides On the leading edge of change, An accomplished venture builder with consistently delivering quality programs over a decade of experience founding, to hundreds of communities and advising, professional investment, and organisations. managing emerging entities with a vision. ✴Access to a global network ✴Founded: 6 of facilitators and change ✴Incubated: 2 agents. ✴Funding raised: > $6M ✴Observing change first ✴Managed: 3 hand for over 40 years with ✴Advised: 5 affiliates in 36 nations. Mission: To enhance people’s capacity Mission: To co-create a to participate in the creation of a more comprehensive example of the human world through training in group practical structures for common people facilitation and leadership methods, to meet their primary needs in a way and facilitating community and that reflects balance among people and organizational development. the planet by 2015. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 License. (Michael A. B. Lewkowitz - Igniter Incorporated - michael@igniter.com) 13
    • Exploration Deck A conversation primer in the exploration of practical approaches to transformative venturing and investment.