1 intro 2012-0.3

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An introductory talk on entrepreneurship for engineering students. Drucker's purpose of business, Blank's Customer Development, Moore's Crossing the Chasm, and Martin's Knowledge Funnel, and Osterwalder's Business Model Canvas

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1 intro 2012-0.3

  1. 1. Entrepreneurship and You Iain Verigin iain.verigin@gmail.com September 2012 1
  2. 2. Who Are You?• What is your specialization? – Mech, EE, Comp Sci, other.• Post-Grad - What are you gonna Do? – Grad School? – Work? • Big Company • Small Company • Start-up? – Travel? - Let‟s show some hands - 2
  3. 3. Who Am I ?• Work – Instructor: UBC Sauder School – Business Development: PMC-Sierra – Marketing: PMC-Sierra & Packet Engines – Engineering: PMC-Sierra• Hobbies – “Health Issues”, Philanthropy (Eng Phys Professorship), Coaching Hockey & Track, Golf, Blogging, reading, “bad” music.• Education: – McGill Physics, UBC Eng Phys (EE option), SFU M.Eng EE (Comm‟s, Semi‟s & Optics ) 3
  4. 4. Lecture Objectives1. Understand entrepreneurial leadership • and its process in high-technology industries2. Dispel common myths & misconceptions.3. Learn skills • important for 21st century technology leaders.4. Stimulate continuous learning • and personal reflection regarding entrepreneurship and your future. 4
  5. 5. Agenda1. Introduction - today.2. Entrepreneurship Skills 5
  6. 6. What is Entrepreneurship?• A Way of Managing, Leading, and Doing! – It Can Be Taught!• Fine Print – "Entrepreneurship is a management style that involves pursuing opportunity without regard to the resources currently controlled. Entrepreneurs identify opportunity, assemble required resources, implement a practical action plan, and harvest the rewards in a timely, flexible way. – Any attempt at new business or new venture creation, such as self- employment, a new business organization, or the expansion of an existing business, by an individual, a team, or an established business.• References: Stanford E145 material (Byers) 6
  7. 7. Seven Important Skills for Tomorrows Entrepreneurial Leaders1. Creativity and Opportunity Evaluation2. Real-time Strategy and Decision Making3. Comfort with Change and Chaos4. Teamwork5. Evangelism, Selling, Negotiation, and Motivation through Influence and Persuasion6. Oral and Written Communication7. Basics of Start-Up Finance and Accounting• Reference --- Byers - E145 - http://stvp.stanford.edu 7
  8. 8. UCanDo it! UBC Fizzers Have Rocked • 3 of top 4 market cap in BC. – Creo – MDA - (CEO) Dan Friedman – PMC-Sierra - current COO Colin Harris, 1st CEO - Ralph Bennett, Professorship donors ( Curtis Lapadat, Alex Chiu, myself, and CH) • There are lots more small companies with Fizz leaders. – Starfish – Scott Phillips http://www.bctechnology.com/stocks/t-net20.cfm 8
  9. 9. Plan You Customers Process Scorecard Purpose
  10. 10. The Scorecard 10
  11. 11. The Biz Plan People The Team Capabilities Attitude Reputation The Deal Business Resources Reward, Risks Financial Incentives Physical Ownership Intellectual Harvest Plan Opportunity Customers Strategy Business ModelChapter 7: Figure 7.3 11 Technology Ventures: From Idea to Opportunity
  12. 12. The Business Model Canvas 12
  13. 13. Apple Canvas 13
  14. 14. :Score Card: ( Hypothesis Summary) test Guess Guess Guess Guess Guess Guess Guess Guess Guess 14
  15. 15. Keep Track Week n Week 2 Week 1 15
  16. 16. Your Purpose 16
  17. 17. Aside To Create a Customer Drucker says … “There is only one valid definition of business purpose: …” Page 20 “The Essential Drucker” 17
  18. 18. What is Marketing?• Drucker says --• There will always, one can assume, be the need for some selling. But the aim of marketing is to make selling superflous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.• Reference: pages 20 & 21 in “Essential Drucker”. 18
  19. 19. A Product That Sells Itself 19
  20. 20. Customers? 20
  21. 21. Technology Adoption Life Cycle Main Street TornadoEarlyMarket Chasm Bowling Alley Copyright © Geoffrey A. Moore, 2005, from the book “DEALING WITH DARWIN” 21
  22. 22. People Underlying Drivers in Growth Markets “Technology Adoption Strategies” Pragmatists: Conservatives: Stick with the herd! Stick with what’s proven! Visionaries: Get ahead of the herd! Skeptics: Just say No! Techies: Just try it! Copyright © Geoffrey A. Moore, 2005, from the book “DEALING WITH DARWIN” 22
  23. 23. New Market “Chasm” Main Street TornadoEarlyMarket Chasm Bowling Alley Copyright © Geoffrey A. Moore, 2005, from the book “DEALING WITH DARWIN” 23
  24. 24. ? Instant Success ? In 4th year after launch. ( ie 6 years ) This is as fast as it gets.http://en.wikipedia.org/wiki/File:Ipod_sales_per_quarter.svg NB. Apples fiscal year ends in September. This means that Q1 includes the holiday season, which accounts for jumps in the data. Fiscal Q1 is Oct - Dec of previous year. So Q1 of 2008 is Oct - Dec of 2007, Q2 of 2008 is Jan - Mar of 2008 and so on. 24
  25. 25. The Process 25
  26. 26. Study/Plan and Act • Market Analysis • Market Pursuit 26
  27. 27. It‟s The Scientific Process!• Hypothesis• Develop Test• Observe • Apply to Customers• Analyze Results• Re-jig Hypothesis• Do it again ( many times … • Product / Market Fit is what you are looking for. Quickly ) • Is not obvious 27
  28. 28. Six steps to Acting as an entrepreneurChapter 2: Figure 2.1 28
  29. 29. iPod TimelineCycling, Cycling, and more Cycling 29
  30. 30. More Process• Customer Development• www.steveblank.com 30
  31. 31. Search vs. Execution 31
  32. 32. Search Looks Like ThisBill Buxton, “Sketching User Experience” 32
  33. 33. Execution Like ThisBill Buxton, “Sketching User Experience” 33
  34. 34. “7 Steps”Customer Development 34
  35. 35. You 35
  36. 36. Model – Vous Knowledge Funnel Etes “What Do You Know” ici Roger Martin‟s Knowledge Funnel  Mystery  Heuristic  Algorithm ! Very Useful for our class ! You start in the Mystery Zone ( the guesses ) Success is getting it to “Heuristic zone” (what are the “rules-of-thumb” Grand Slam is getting it to the “Algorithm” zoneSource: Design of Business, Roger Martin 36
  37. 37. Summary 37
  38. 38. Mash Up You “Knowledge Funnel” Customers “Chasm Model” Process Scorecard “Customer Development” “Business Model Canvas”
  39. 39. Mash Up
  40. 40. Wrap 40
  41. 41. Next ! People Skills Rule !Week • The area with the most room for differentiation is in “People Skills” – Yes … „cause Engineers suck at this :) 41
  42. 42. Reading Material• I‟ve made a list on-line• http://hnorth.wordpress.com/entrepr eneurship-readings/ 42
  43. 43. The End 43
  44. 44. No one knows theanswer!You‟ve got to discover it. Act Fix & Adjust Review & LearnThis is everything u need to know :-) 44
  45. 45. Aside * Straight Lines Don‟t Happen in Real Life * * Get used to cycling back. * Some people get stuck calling this “failure”. * Don‟t let failures define you. * Success will come. 45

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