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Startup 101

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Startup 101

  1. Startup101 Entrepreneurship/Intrapreneurship Wednesday, May 15, 13
  2. THEE.WORD Entrepreneursareinnovatorswhouseaprocessofshatteringthestatusquooftheexisting productsandservices,tosetupnewproducts,newservices Thepursuitofopportunitywithoutregardtoresourcescurrentlycontrolled. Howard Stevenson Schumpeter Wednesday, May 15, 13
  3. From 1980–2005, firms less than five years old accounted for all net job growth in the United States. (Business Dynamics Statistics Briefing: Jobs Created from Business Startups in the United States, January 2009) WHYWENEEDTHEM? Wednesday, May 15, 13
  4. RiskAversion “Wehateloosing” “Wearedelusional” Overconfidence -prospecttheory- Those considered to be entrepreneurs are not inherently greater risk-takers than non-entrepreneurs. And successful entrepreneurs show no different risk propensities than unsuccessful. chapter 2, “risk takers and taking risks” Drs William B Gartner and Jian Liao Rational 2Irrationalforcesinoursociety CANYOUBEONE? Wednesday, May 15, 13
  5. WHEREDOLARGE CORPORATIONCOMEFROM? 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. REVENUE 0 time EXAMPLE 5 10 15 S&P 500 Lifespan is 15 years on average Richard Foster / Yale Wednesday, May 15, 13
  7. REVENUE 0 time EXAMPLE ? 5 10 15 S&P 500 Lifespan is 15 years on average Richard Foster / Yale Wednesday, May 15, 13
  8. WELCOMETOTHEENTREPRENEURIALJOURNEY JosephCampbell The Hero with a Thousand Faces Wednesday, May 15, 13
  9. GeorgeE.P.Box Essentially,allmodels arewrong,butsomeare useful. DISCLAIMER Wednesday, May 15, 13
  10. INSPIRE DISCOVER FOUNDER STARTUP SCALE-UP LEADERS THE ENTREPRENEUR’S JOURNEY (THE EJ) Wednesday, May 15, 13
  11. 21st CENTURY ENTREPRENEURSHIP Wednesday, May 15, 13
  12. BEWARETHESTARTUP MYTHS! Wednesday, May 15, 13
  13. FOUNDER “FOUNDERS ARE INDIVIDUALS WHO CREATE, EXECUTE, AND INVEST IN IDEAS TO TURN THEM INTO STARTUPS” Time Money Talent ... Get Shit done Real things (you can see them) etc... From nothing (inventors) By associating ideas By complementing existing ideas etc... -Team Genesis- * * Wednesday, May 15, 13
  14. BUSINESSPLANS AREDEAD Wednesday, May 15, 13
  15. BUSINESS MODEL ABUSINESSMODELDescribestherationalofHowAn organizationcreates,deliversandcapturevalues AlexanderOsterwalder Wednesday, May 15, 13
  16. MVPAProductDevelopmentstrategyusedforfastandquantitative markettestingofaproductorproductfeature isanapproachforlaunchingbusinessesandproducts,thatreliesonvalidated learning,scientificexperimentation,anditerativeproductreleasestoshorten productdevelopmentcycles,measureprogress,andgainvaluablecustomer feedback LEAN STARTUP Wednesday, May 15, 13
  17. Individualsandinteractionsoverprocessesandtools Workingsoftwareovercomprehensivedocumentation Customercollaborationovercontractnegotiation Respondingtochangeoverfollowingaplan AGILE DEVELOPMENT GOOD BYE PROCESS! Wednesday, May 15, 13
  18. STARTUP “A startup is an organization f o r m e d t o s e a r c h f o r a repeatable and scalable business model.” Steve Blank Wednesday, May 15, 13
  19. ACCELERATOR Accelerators are organizations that provide cohorts of selected nascent ventures seed-investment, usually in exchange for equity, and limited-duration educational programming, including extensive mentorship and structured educational components. These programs typically culminate in “demo days” where the ventures makepitchestoanaudienceofqualifiedinvestors. Wednesday, May 15, 13
  20. ACCELERATOR-IMPACT Wednesday, May 15, 13
  21. VC / MICRO VC / BUSINESS ANGEL / CROWDFOUNDING Venture capital (VC) has delivered poor returns for more than a decade. VC returns haven’t significantly outperformed the public market since the late 1990s, and, since 1997, less cash has been returned to investors than has been invested in VC Only 16 percent of the fastest-growing and most successful companies in the United States had venture investors. (Right- Sizing the U.S. Venture Capital Industry, June 2009) ACCESS TO CAPITAL Wednesday, May 15, 13
  22. STARTUPS AND FIRMS ARE DIFFERENT Wednesday, May 15, 13
  23. (FIRMS) (STARTUPS) PASSION CO-FOUNDERS/TEAMDEVELOPMENT CUSTOMERDEV LEAN/AGILE STRATEGY HR MARKETING/SALES QUALITYMANAGEMENT BPR/INNOVATION/R&D... INTRAPRENEURS BUSINESSPLAN BUSINESSMODELS Wednesday, May 15, 13
  24. Shannon number 10 81 10 123 7 billion people you will fail a lot! Atoms in the known universe ENTREPRENEURSHIP IFENTREPRENEURSHIP WASAGAME Wednesday, May 15, 13
  25. fitness function Your computer HOW TO PLAY THE ENTREPRENEURIAL GAME? Wednesday, May 15, 13
  26. TEAMS>IDEA 65% 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. constant Wednesday, May 15, 13
  28. Inside entrepreneurs who follow the goal of the organization INTRAPRENEURSHIP Wednesday, May 15, 13
  29. D. MVT A. Self Awareness / BUILD YOUR ASSETS B. Co-founder DISCOVERY C. Co-founder ACTION-DATING E. sTARTUP SERIAL ENTREPRENEUR - CO-FOUNDER DEVELOPMENT CYCLE - Wednesday, May 15, 13
  30. ENTREPRENEURS:GETOUTSIDEOFTHEBUILDING INTRAPRENEURS:GETOUTSIDEOFYOURDEPARTMENT Wednesday, May 15, 13
  31. ACTION > THINKING TO EXTAND THE “UNKNOWN - UNKNOWN” B C Business Decision ? ? KNOWLEDGE Entrepreneur Bounded rationality is the idea that in decision-making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision Reinhard Selten Wednesday, May 15, 13
  32. @PEIGNOIR THANKYOU! Wednesday, May 15, 13
  33. @PEIGNOIR FRANCK@STARTUPWEEKEND.org THANKYOU! Wednesday, May 15, 13

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