Don’t TASE Me, BRO! :)• Or… Why we all need to take business models and business model evolution seriously.• And the research implications of the tidal wave of “lean startup”• And how social and sustainable entrepreneurship is a brilliant domain to study this!
A quick primer• What’s a “business model”?• Definitions/operationalizations all over the map• Basically, the recipe… usually centers on: – 1) Value identification/creation – 2) Value delivery – 3) Value capture
Obligatory research background• Definitional, um, “diversity”? – The “New Heffalumps”?• Static• Top-down (org theory/strategy?)• Ignores continuous learning?• Tide is turning, though (AoM workshops)• Anyone here from SEJ? (Special issue upcoming… hint, hint)
OK, show of hands?• How many of you know a successful venture that NEVER changed any of its business model from Day One?• How many know a venture that likely failed because its business model failed to evolve?• How many know a social venture that likely failed because its business model failed to evolve?
“Lean Startup”• Not THAT new• Beautifully codified by Blank, Ries, Osterwalder• Even more beautifully marketed by …. • Startup = Vehicle for validating all critical assumptions behind your business model• Entrepreneurship becomes Experimentation• Critical for high complexity/uncertainty environs (TBL?)• Dexter-izes “Inventors Syndrome”?• (lean approach forces people entrepreneurial mindset)• So what about Social/sustainable Ventures?
Key Elements• Pivot• MVP• [Minimum Viable Product]• GOOT[F]B?• Business Model Canvas
What’s Different for Social Ventures?• And how can studying social ventures pay off?• MVP – different when stakes are high?• “Inventors Syndrome”?• Canvas – different terminology, diff boxes or ?• Impact of Impact Investors?• Design Thinking – key to pivots under high complexity?
A modest agenda…• Do social ventures pivot more than entrenched bureaucracies?• Is this something we can teach? (AAAS/NSF)• Lean Startup for social ventures – impact on developing entrepreneurial mindset?• Does expertise at D-Thinking matter? (D2M)• Contests – emergent phenomena• How does this change our metrics? The metrics of impact investors?• What tools can use to assess changes – diaries?
So……• Want to join the fun? – Franziska Günzel, f.guenzel[at]googlemail.com – Norris Krueger norris.krueger[at]gmail.com or @entrep_thinking – Growing numbers at AoM & elsewhere• And… – Dell Social Innovation Challenge [www.dellchallenge.org] • Rob Hanna @socialwealth, rawhanna[at]gmail.com – Wm James Foundation [www. williamjamesfoundation.org] • Ian Fisk @iantfisk, @WJF_Competition • ian.fisk[at]williamjamesfoundation.org
oh, yeah…. We lied…• Do TASE Me, BRO!• TASE = – Test Assumptions Specifically & Experimentally• BRO = – Blank - Ries – Osterwalder