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Effectuation Coaching at Heidelberg Innovation Forum 2014

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Presentation to startups of the Heidelberg Innovation Forum on how they can use the four effectuation principles to further develop their ventures.

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Effectuation Coaching at Heidelberg Innovation Forum 2014

  1. 1. Effectuation Coaching at Heidelberg Innovation Forum www.heidelberg-innovationforum.eu Alexandra Rudl 8 April 2014
  2. 2. What makes entrepreneurs entrepreneurial? Source: therisetothetop.com
  3. 3. Navigate under uncertainty
  4. 4. Causal Logic Analyse Decide Plan Acquire Ressources Act
  5. 5. The missing toolbox? statistically linear predictable well-known assessable projectable knowledge dynamic Not predictable Not assessable unknown incalculable Source: www.blogs.telerik.com Causal tools ?
  6. 6. Effectuation – A definition • A logic of thinking, discovered through scientific research, used by expert entrepreneurs to build successful ventures (Prof. Saras Sarasvathy, University of Virgina) • Four principles – one process "If I had a budget, I could ask a specialist in the field of education to go through data and give me ideas of how many universities, how many media, how many large companies I will have to contact to have an idea of the work that has to be done." vs. "I'd just go sell it. I don't believe in market research. Somebody once told me the only thing you need is a customer. Instead of asking all the questions, I'd try and make some sales. I'd learn a lot […] . So my market research would actually be hands-on actual selling." Causal reasoning Effectual reasoning
  7. 7. Bird in Hand – Start with your means www.effectuation.org
  8. 8. Causal logic Effectuation logic Selection / Creation of means in order to reach a specific, pre-defined goal Discovering potential goals and results based on a given set of means © Faschingbauer, Mauer (2014)
  9. 9. Affordable Loss – Focus on the downside risk www.effectuation.org
  10. 10. © Faschingbauer, Mauer (2014) Causal logic Effectuation logic The committment depends on the expected earning Earning Committment The committment depends what you can afford to loose at each step
  11. 11. Leverage contingencies www.effectuation.org
  12. 12. © Faschingbauer, Mauer (2014) Causal logic Effectuation logic Demarcation from circumstances and coincidences Leveraging circumstances and coincidences
  13. 13. http://www.basicthinking.de/blog/wp-content/uploads/2013/02/Post-it1.png
  14. 14. Patchwork Quilt – Form Partnerships www.effectuation.org
  15. 15. © Faschingbauer, Mauer (2014) Causal logic Effectuation logic Searching the „right“ partner Committments with those who are willing to take part and to contribute
  16. 16. Bird in Hand – Start with your means Affordable Loss – Focus on the downside risk Leverage contingencies Patchwork Quilt – Form Partnerships www.effectuation.org
  17. 17. When to apply effectuation? © Faschingbauer, Mauer (2014) Existing markets New Markets Existing products New products
  18. 18. http://notes.fundersandfounders.com/image/81999963246 Effectuation in practice: The Instagram Story
  19. 19. Contact Alexandra Rudl Head of Talent Support / Innovation Fostering MFG Innovation Agency for ICT and Media rudl@mfg.de

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