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Effectuation - Managing Uncertainty by Optimizing Opportunity

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The Effectual mindset is essential for entrepreneurs who understand that the future is unknowable and unpredictable and who want to make decisions which guide them towards success. This is an essential foundation for Momentum Scaling A summary of Effectuation (Saras Sarasvathy).

Presented to Ville-Marie Toastmasters (PERINF L1 Project 3)
22 February 2018

(c) 2018 Davender Gupta. All rights reserved. Permission to download for personal use only

Published in: Business
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Effectuation - Managing Uncertainty by Optimizing Opportunity

  1. 1. Effectuation Managing Uncertainty by Optimizing Opportunity Davender Gupta, MS, MBA The Scaleup Project davender@davender.com 514-448-1894 ©2018 Davender Gupta. All rights reserved. 180222 davender@davender.com 1
  2. 2. Where Effectuation Comes From 2©2018 Davender Gupta. All rights reserved. 180222 davender@davender.com Dr. Saras Sarasvathy (2001)  “What commonalities and differences exist in the decision-making process of a group of expert entrepreneurs?”  “In the face of non-existent or not-yet-existent markets, what underlying beliefs about the predictability of the future influence their decisions as they build a new venture?”
  3. 3. An Idea Is Not A Goal •Causal = Assumes the future is knowable •Effectual = Assumes the future is unknowable 3 goal means Search for the means to achieve a stated goal Start with the means at hand to design the outcome ©2018 Davender Gupta. All rights reserved. 180222 davender@davender.com
  4. 4. Strategy is How You Make Decisions • How your choices align with vision, mission, values Suitable • How your choices fit success and risk criteria Acceptable • How your choices can be executed with available resources Feasible • How your choices manage uncertainty by optimizing opportunity Effectual 4©2018 Davender Gupta. All rights reserved. 180222 davender@davender.com
  5. 5. Effectuation: A Set Of Decision-Making Principles 5 What can you do with what you have, what you know and who you are Focus on how to minimize possible losses Collaborate with partners who provide pre-commitment Surprises are opportunities to explore new possibilities The future cannot be predicted but can control some determining factors Source: www.effectuation.org ©2018 Davender Gupta. All rights reserved. 180222 davender@davende.com
  6. 6. Impact of Effectual Approach to Scaling •Delay seeking investors to fund initial go-to- market because the need to generate ROI locks into a causal mindset •First find customers who are willing to collaborate in pre-production prototype development through investment •Establish rapid build-measure-learn loops 6©2018 Davender Gupta. All rights reserved. 180222 davender@davender.com
  7. 7. Contact me! Davender Gupta Venture Strategist and Co-Founder The Scaleup Project davender.com facebook.com/coachdavender linkedin.com/in/coachdavender davender@davender.com ©2018 Davender Gupta. All rights reserved. 180222 davender@davender.com 7

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