The Entrepreneur's Journey
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This talk was given at TEDxRiceU in April 2012. Global cleantech entrepreneur Bryan Guido Hassin uses Joseph Campbell's Hero's Journey as a framework for entrepreneurship lessons he has found valuable as professor of entrepreneurial leadership at Rice University. The video is online at http://youtu.be/1apQfxfXSfU
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The Entrepreneur's Journey
- 1. TEDxRiceU: The Entrepreneur’s Journey How the magic of myth can help us launch ventures, inspire others, and change the world Bryan Guido Hassin @guido23
- 2. My journey begins here at Rice, where I first took the entrepreneurial plunge Houston Nairobi Lausanne Lausanne Houston Austin Houston TEDxRiceU 2
- 3. I’ve founded/built/led five cleantech startups Houston Nairobi Lausanne Lausanne Houston Austin Houston TEDxRiceU 3
- 4. My journey has taken me around the world, seeing entrepreneurship with a global perspective Houston Nairobi Lausanne Lausanne Houston Austin Houston TEDxRiceU 4
- 5. This is how people believe entrepreneurship happens IPO, retire • Preceded by Raise huge hockey stick VC $$$ growth Wunderkind • With detailed has divine business plan inspiration • Or MBA has genius insight TEDxRiceU 5
- 6. But this is not how entrepreneurship usually happens • First time • < 2% of • < 1% of founders ventures ever ventures IPO average 40 raise VC $$$ years old • < 27% of Inc. • Ventures 500 ever had rapidly evolve a biz plan IPO, retire from original • Preceded by vision Raise huge hockey stick VC $$$ growth Wunderkind • With detailed has divine business plan inspiration • Or MBA has genius insight TEDxRiceU Source: Effectual Entrepreneurship, entrepreneurship.com 6
- 7. I believe entrepreneurship looks much more like the archetypal Hero’s Journey Gift of the Call to Refusal of the Goddess Adventure Call Masterful Wise Sage Return Transformation Supernatural Aid Death / The Dark Rebirth Forest Challenges, Te mptations TEDxRiceU Source: The Hero with a Thousand Faces 7
- 8. The Hero’s Journey is fundamental to the human experience Call to Adventure Masterful Wise Sage Conscious Return Known Rational Subconscious Unknown Irrational Death / The Dark Rebirth Forest TEDxRiceU Source: Fundamentals for a World Class Leadership Programme 8
- 9. The entrepreneurial journey begins with a call to adventure Call to Adventure Common Entrepreneurial Calls to Adventure Masterful Wise Sage Return • Wanderlust • “I want to be my own Death / The Dark boss” Rebirth Forest • “I hate my boss” • Desire for financial gain • Opportunism • Desire for impact Successful entrepreneurs start with their means, not divine TEDxRiceU 9
- 10. Entrepreneurs seek supernatural aid and wise sages to cross the threshold into the unknown Call to Adventure Common Sources of Entrepreneurial Aid Masterful Wise Sage Return • Mentors • Angel investors Death / The Dark • Advisors Rebirth Forest • Partners • Clients Successful entrepreneurs augment their means to take the plunge TEDxRiceU 10
- 11. Entrepreneurs must rapidly iterate through challenges while constantly beset by temptations Call to Adventure Common Entrepreneurial Challenges Masterful Return Wise Sage • Funding • Market traction • Attracting employees Death / The Dark • Self doubt Rebirth Forest Common Entrepreneurial Temptations • Consulting for cash • Too-good-to-be-true partnerships • Bad clients/investors TEDxRiceU 11
- 12. Entrepreneurs constantly transform their business and themselves to make it out of The Dark Forest Call to Adventure Common Entrepreneurial Transformations Masterful Wise Sage Return • Business model pivot • Different target market Death / The Dark • Product update Rebirth Forest • New distribution channel • Hiring / firing Successful entrepreneurs transform themselves, not just their TEDxRiceU 12
- 13. Entrepreneurs return victorious with many definitions of success Call to Adventure Common Entrepreneurial Successes Masterful Wise Sage Return • Sustains lifestyle • Creates jobs Death / The Dark • Noteworthy achievement Rebirth Forest • Exit by acquisition • IPO • Changes the world Successful entrepreneurs know what success means to them TEDxRiceU 13
- 14. So what can the Hero’s Journey teach us about entrepreneurship? Gift of the Call to Refusal of the Goddess Adventure Call Masterful Wise Sage Return Transformation Supernatural Aid Death / The Dark Rebirth Forest Challenges, T TEDxRiceU emptations 14
- 15. It takes a team to form a collective hero Teammates provide complementary skillsets and act as secure bases TEDxRiceU Source: Hostage at the Table 15
- 16. Know thyself Paul Atreides gaining self awareness by taking the Water of Life - Dune True self knowledge can be painful to obtain but is invaluable during the entrepreneurial journey TEDxRiceU 16
- 17. Seek wise sages who have practical, relevant experience Yoda was (and always will be) a badass – Star Wars Mentors who have been there, done that are worth $186,000 to first-time entrepreneurs TEDxRiceU Source: Effectual Entrepreneurship 17
- 18. Don’t choose the best path through the forest; create your own path Ender Wiggin changing the rules of the game – Ender’s Game Successful entrepreneurs maximize upside by controlling their environments TEDxRiceU Source: Effectual Entrepreneurship 18
- 19. Don’t choose the best path through the forest; create your own path New End Means 1 2 Means Means 1 3 Starting Means Fixed End New End New End 2 3 Successful entrepreneurs start with their means and imagine new possibilities TEDxRiceU Source: Effectual Entrepreneurship 19
- 20. Don’t choose the best path through the forest; create your own path Gandalf’s new path over the forest – The Hobbit Successful entrepreneurs use partnerships and embrace surprises to expand their means, creating new options TEDxRiceU Source: Effectual Entrepreneurship 20
- 21. Work on significant, meaningful problems It takes a villain as evil as Voldemort to induce heroic acts as great as those performed by Harry Potter TEDxRiceU 21
- 22. Faith and persistence are the entrepreneur’s greatest assets Neo feeling what is possible once he finally believes – The Matrix The darkest hour is just before dawn; you’ve got to believe TEDxRiceU 22
- 23. Back to my story: some entrepreneurs are turning to me as the sage rather than the hero I’ve spent my life as a warrior; being a wizard is new and unknown to me (back into the Dark Forest!) TEDxRiceU 23
- 24. Another entrepreneur and I are now teaching LAUNCH (entrepreneurship) at Rice Entrepreneurship cannot be taught in a safe classroom; it must be developed experientially TEDxRiceU 24
- 25. By mentoring and coaching, we guide students along their own entrepreneurial journeys Call to Adventure • Practitioner professors Masterful • Local Wise Sage Return entrepreneur case studies • Mentor network Death / The Dark Rebirth Forest Seven new ventures have been launched this semester! TEDxRiceU 25
- 26. Potential Entrepreneurs: answer the call to adventure Life is too short not to spend every moment of it pursuing your dreams TEDxRiceU 26
- 27. Entrepreneurs: answer the call for mentorship Mentorship: it’s an entirely new adventure! TEDxRiceU 27