Mark Tuttle - Think like an entrepreneur (SW Bratislava)
Think like an Entrepreneur Mark Tuttle Starupweekend Bratislava May 11,12,13 Mark.Tuttle@yahoo.com
DefinitionAn entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative. From wikipediaA startup is a human institution designed to create a new product or service under conditions of extreme uncertainty. From Eric Reis, the Lean Startup
3 kinds of EntrepreneursA social entrepreneur is motivated by a desire to helpA serial entrepreneur is one who continuously comes up with new ideas and starts new businesses A lifestyle entrepreneur places passion before profit when launching a business in order to combine personal interests and talent with the ability to earn a living
My Observations about Austrians • Don’t Take Risks • Taught not to Fail • Accept control and regulation to keep safe and secure • Avoids unknowns • Don’t deviate from the norm • Follow traditional, predictable path • Don’t talk to strangers • Don’t integrate work with life…
Industrial Economy Public Education • Highly specialized role-based (focused learning) • Education to make competent workers • Accept things the way they are, be compliant • Don’t teach self-learning, self-direction • Pay taxes • Don’t Revolt • Behave • Non-Socratic Method, non focused critical thinking • Not well rounded • Don’t Question Authority • Reduce Creativity and Divergent ThinkingThis model works in a stable economy and society
Question EverythingTake nothing for granted or fixed.Everything can be made better!Change is the only constant thing….
An Entrepreneur looks for Innovation • Improve something • Change something • Make something better • Create something • Join things that are unjoined • Destroy an existing market • DisintermediatesI was born into it… my dad was a serial entrepreneur
With every idea you consider, …..you must ask…….. What problem does it solve?If you build it they will NOT come
Formula for a startupTry and find an idea for a companywhere address recognized problem andnot much competition trying to solve it!And that someone will pay for……
Successful Companiesand Sustainable Companies put the Customer First!
If we build it, they will buy it! NO Startup Point of View Customers The World Startup Solution Your Startup
Customer First Approach Alternative Solutions Indirect Competition Direct CompetitionCustomerwith Need Your startupor Desire
InnovationsYahoo – 1994 put together the first comprehensive directory of Web Sites on the Internet, strong free email, Yahoo! ChatSMS – Simple Message Service, originally intended to send service messages, not for consumer
InnovationseBay aggregate all printed want ads and auction model into one global market place.Wikipedia – 6th largest site on the Internet, crowd sourcing knowledge. Used by everyone, still resisted by traditional schools.
Innovation Integration of disconnectedFacebook - you know the storyApple – putting every thing together, hardware, operating system, applications, music, movies, cloud, backup, TV = more focus user experience = maximum revenue per customer
Innovation Change Existing ParadigmSkype – has transformed telecommunications, the world can talk for free =3 guys from Estonia, just sold to MS $8.5 billionNapster – Bit Torrent – alternative sharing and distribution channel for music and video. Some estimate 90% of world internet traffic is Bit Torrent
Web Associates 1997Sold in 2011 to Publicis for $120 million
Companies I have co-foundedWeb Associates – Founded 1995, one of the first full service Web Agencies.. Hostile sale 2007 - $10 million, Sold in 2010 for $40 mil.Belgem.com – 1st B2B diamond trading platformSurlin Remote – Offshore dedicated tech teams
Working with Now Cancer Working Group AEMEA PrivacyProtector Network Gateless technology for private connectivity
The Last Words Make your future! Make a difference! Give more than you take!Fill your life with Passion, Curiosity Drive, & Freedom
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