01. Bird in-the-hand (Enablis)

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01. Bird in-the-hand (Enablis)

  1. 1. Expertise Development
  2. 2. paulshawsmith scientific business strategy
  3. 3. paulshawsmith scientific business strategy
  4. 4. paulshawsmith scientific business strategy
  5. 5. Deliberate Practice: An activity that is designed to improve a individuals performance level. paulshawsmith scientific business strategy
  6. 6. paulshawsmith scientific business strategy
  7. 7. paulshawsmith scientific business strategy
  8. 8. paulshawsmith scientific business strategy
  9. 9. paulshawsmith scientific business strategy
  10. 10. paulshawsmith scientific business strategy
  11. 11. paulshawsmith scientific business strategy
  12. 12. Adam Kethro paulshawsmith scientific business strategy
  13. 13. Doug Crow paulshawsmith scientific business strategy
  14. 14. Mick Goss paulshawsmith scientific business strategy
  15. 15. Colin Van Heeden paulshawsmith scientific business strategy
  16. 16. Nic Beaumont paulshawsmith scientific business strategy
  17. 17. Will Battershill paulshawsmith scientific business strategy
  18. 18. AMAR BHIDE paulshawsmith scientific business strategy
  19. 19. 27 Entrepreneurs paulshawsmith scientific business strategy
  20. 20. 3to40 start ups paulshawsmith scientific business strategy
  21. 21. 12 to43 yrs experience paulshawsmith scientific business strategy
  22. 22. $200 million to$6billion paulshawsmith scientific business strategy
  23. 23. 1 IPO paulshawsmith scientific business strategy
  24. 24. AMAR BHIDEAre opportunities found or made? paulshawsmith scientific business strategy
  25. 25. Search and Select AMAR BHIDE
  26. 26. Causation AMAR BHIDE
  27. 27. Create and Transform
  28. 28. Effectuation
  29. 29. paulshawsmith scientific business strategy
  30. 30. AMAR BHIDEWas your business idea found or made? (2 mins) paulshawsmith scientific business strategy
  31. 31. AMAR BHIDEHow do you make a new market? (2 mins) paulshawsmith scientific business strategy
  32. 32. paulshawsmith scientific business strategy
  33. 33. AMAR BHIDE “Most of what you hear about entrepreneurship is all wrong. It’snot magic; it’s not mysterious; andit has nothing to do with genes. It’sa discipline and, like any discipline, it can be learned.” - Peter F. Drucker 1985 paulshawsmith scientific business strategy
  34. 34. 1 Vision paulshawsmith scientific business strategy
  35. 35. The Myth of the Visionary Entrepreneur
  36. 36. The Road MapAMAR BHIDE 1. Search for opportunity 2. Light blub moment 3. Writes business plan 4. Raises funds 5. Hires great team 6. Builds product 7. Orchestrates big launch 8. Achieves hockey stick growth 9. IPO 10. Retires on island paulshawsmith scientific business strategy
  37. 37. Business Plan? Yes! No! 21% 79% paulshawsmith scientific business strategySource: Bhide (2000)
  38. 38. “new ventures launched with formal written business plans do not outperform ones launched without them.” paulshawsmith scientific business strategySource: Lange, Mollov, Pearlmutter, Singh and Bygrave (2007)
  39. 39. Low levels of planning paulshawsmith scientific business strategySource: Dencker, Gruber, Shah (2009)
  40. 40. High levels of planning paulshawsmith scientific business strategySource: Dencker, Gruber, Shah (2009)
  41. 41. No!
  42. 42. No!
  43. 43. No! No!No!
  44. 44. No!
  45. 45. Causal Thinking(Selecting between given means to achieve a pre-determined goal) M1 M2 M3 Given Goal M4 M5 M6
  46. 46. Causal Thinking Market Research Knowledge Market People Gap Tasks Resources paulshawsmith scientific success strategy
  47. 47. Causal Thinking Market Research Knowledge Market People Gap Tasks Resources paulshawsmith scientific success strategy
  48. 48. paulshawsmith scientific business strategy
  49. 49. Casual Thinking Cook Book Outcome Hire Staff Vision Buy Ingredients paulshawsmith scientific success strategy
  50. 50. Market Research? 88% 12% Yes! No! paulshawsmith scientific business strategySource: Inc. 500 Magazine (2010)
  51. 51. ???
  52. 52. AMAR BHIDE "OK, I need to know which of their various groups of students, trainees, and individuals would be most interested so I can target the audience a little bit more. What other information...Ive never done consumer marketing, so I dont really know. I think probably...I think mostly Id just try to...I would...I wouldnt do all this, actually. Id just go sell it. I dont believe in market research. Somebody once told me the only thing you need is a customer. Instead of asking all the questions, Id try and make some sales. Id learn a lot, you know: which people, what were the obstacles, what were the questions, which prices work better. Even before I started production. So my market research would actually be hands- on actual selling."Source: Sarasavathy (2007) paulshawsmith scientific business strategy
  53. 53. AMAR BHIDE "Ultimately, the best test of any product is to go to your target market and pretend like its a real business. Youll find out soon enough if it is or not. You have to take some risks. You can sit and analyze these different markets forever and ever and ever, and youd get all these wonderful answers, and they still may be wrong. The problem with the businessman type is they spend a lot of time with all their great wisdom and all their spreadsheets and all their Harvard Business Review people, and theyd either become convinced that theres no market at all or that they have the market nailed. And theyd go out there big time, with a lot of expensive advertising and upfront costs, because theyre gonna overwhelm the market, and the business would go under."Source: Sarasavathy (2007) paulshawsmith scientific business strategy
  54. 54. 1 Vision paulshawsmith scientific business strategy
  55. 55. 1 Vision paulshawsmith scientific business strategy
  56. 56. Bird-in-the-hand paulshawsmith scientific business strategy
  57. 57. Effectual Thinking(Imaging a possible new end using a given set of means) Goal Given Means Goal Goal M1 M2 M4 M3 Goal M6 M5 Goal Goal
  58. 58. Effectual Thinking Outcome Opportunities Outcome Resources Outcome Knowledge Outcome Outcome People Outcome paulshawsmith scientific success strategy
  59. 59. paulshawsmith scientific business strategy
  60. 60. Effectual Thinking Meal 1 Knowledge of Cooking Meal 2 Ingredients on Hand Meal 3 Equipment Meal 4 Available People I Meal 5 Know Meal 6 paulshawsmith scientific success strategy
  61. 61. Effectual Thinking Course Match FaceMash Partner Friends Customer Students paulshawsmith scientific success strategy
  62. 62. Novice Expert(Causal) (Effectual)
  63. 63. What are the advantages of being means- driven rather than goal driven? (6 mins) paulshawsmith scientific business strategy
  64. 64. • You are not chasing investors. AMAR BHIDE• You are not waiting for the perfect opportunity or perfect set of resources.• You are working with your strengths without having to overcome your weaknesses first.• Good stakeholders want to shape goals, not just provide means.• You are increasing the possible stakeholder who can self- select in your venture.• You are increasing the probability of innovative surprises.• You are increasing the likelihood of finding or creating opportunities that are a better fit for you.• You are increasing the likelihood of even failures being learning experiences that you can recover form faster and build on when you are ready to try again.• You are forcing yourself to get creative with meager resources including slack resources and even waste. paulshawsmith scientific business strategy
  65. 65. When are goals useful and when are goals harmful? paulshawsmith scientific business strategy
  66. 66. Inventory your means Who you Who you What you What you Who you Who you know know know know Are AreYour rolodex Your prior Tastes, knowledge values and preferences Classmates Knowledge Passions from your jobSerendipitous Knowledge Hobbies encounters from lifeThe strangers Informal Interests in your life learning, hobbies paulshawsmith scientific business strategy
  67. 67. Inventory your means AMAR BHIDEWhat means did you acquire or build:• As a teenager.• At school.• At university.• In your first, second, etc…. Job• In your private life.• With your hobbies, activities, etc.• From your parents. paulshawsmith scientific business strategy
  68. 68. AMAR BHIDE Create a list of all your means Who am I? What do I know? Who do I know? (10 mins with partners) paulshawsmith scientific business strategy
  69. 69. AMAR BHIDE Come up with at least 3 great business ideas. (10 mins) paulshawsmith scientific business strategy
  70. 70. I don’t have a good idea paulshawsmith scientific business strategy
  71. 71. Where do ideas come from (in theory): Patent Office Government (CSIR, NRI) Technology Transfer Trade Shows Doctoral Dissertations Invention Expositions Brainstorming paulshawsmith scientific business strategy
  72. 72. Where do ideas come from (in practice): Personal satisfaction and dissatisfaction Industry knowledge Outgrowth of hobbies Ideas trust on one by others Acquisition of company or product already started Ideas rejected by employer or other company Very small start, then growth Customer generated ideas paulshawsmith scientific business strategy
  73. 73. Assessing Opportunities Is it doable? Is it worth doing? Can I do it? Do I want to do it? paulshawsmith scientific business strategy
  74. 74. Feasibility Value Is it doable? Is it worth doing? Technology feasibilityMarket Financial feasibility Market feasibility Economic feasibility Do I want to do it? Can I do it? What turns me on about it?Personal What will it take to do it? Why do I want to do it? Who else do I need? Exit strategies paulshawsmith scientific business strategy

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