Entrepreneurship and You (2013 Version)

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This is a talk given to UBC Eng Phys students wrt/ Entrepreneurship in Sept 2013.

I say that Entrepreneurship is about Radical Change. I talk about "HowTo Change" using the example of Steve Blank's Lean LaunchPad process ( which is an iterative, step by step, drip by drip method ) plus support from other thinkers.

I focus on 5 Points -- Purpose, You, Process, Customers and Scorecard.

* Purpose » Drucker’s purpose of business,
* You » Martin’s Knowledge Funnel,
* Process » Blank’s Customer Development
* Customers » Moore’s Crossing the Chasm.
* Scorecard » Osterwalder’s Business Model Canvas,

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Entrepreneurship and You (2013 Version)

  1. 1. 1 Entrepreneurship and You Iain Verigin iain.verigin@gmail.com September 2013
  2. 2. Who Are You? • What is your specialization? – Mech, EE, Mechatronics, Comp Sci, other. • Post-Grad - What are you gonna Do? – Grad School? – Work? • Big Company? • Small Company? • Start-up? – Travel? 2 - Let’s show some hands -
  3. 3. 3 Who Am I ? • Work – Now. Entrepreneurship Leader ( Sauder &e@UBC ) – Past. Mostly Startups. “Many Hats” • Founding Team PMC-Sierra • Early Employee Packet Engines • Business Development, Marketing, Engineering • Hobbies – Doing this. Philanthropy (Eng Phys Professorship), Golf, Blogging, reading, “bad” music. • Education: – “Hardcore Nerd”. SFU M.Eng EE (Comm’s, Semi’s & Optics ), UBC Eng Phys (EE option), McGill Physics
  4. 4. 4 Agenda 1. Introduction - today. 2. Entrepreneurship Skills
  5. 5. 5 Lecture Objectives 1. Define “entrepreneurial leadership” • and its process in high-technology industries 2. 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.
  6. 6. Entrepreneurship Is About … Radical Change 6
  7. 7. Change What? • Changing the Status Quo – Yes. Entrepreneurship is in conflict with the status quo. • Changing the prevailing ideas, products, services, … think 10x better. • Changing “peoples” behavior 7
  8. 8. A “How-To” on Change Introduction to Lean LaunchPad (iain’s version) 8
  9. 9. You Process Customers Scorecard Plan Purpose
  10. 10. Your Purpose 10
  11. 11. 11 To Create a Customer Drucker says … “There is only one valid definition of business purpose: …” Page 20 “The Essential Drucker” Aside
  12. 12. 12 To Know Your Customer • Drucker says – The Aim of Marketing is • to know and understand the customer so well that the product or service fits him and sells itself. • to make selling superflous. • Reference: pages 20 & 21 in “Essential Drucker”.
  13. 13. You 13
  14. 14. Knowledge Funnel * You start in the “Mystery Zone” ( the guesses ) * Success is getting it to “Heuristic zone” (discovering the “rules-of-thumb” * Grand Slam is getting it to the “Algorithm zone” 14Source: Design of Business, Roger Martin Vous Etes ici
  15. 15. 15 Seven Important Skills for Tomorrows Entrepreneurial Leaders 1. Creativity and Opportunity Evaluation 2. Real-time Strategy and Decision Making 3. Comfort with Change and Chaos 4. Teamwork 5. Evangelism, Selling, Negotiation, and Motivation through Influence and Persuasion 6. Oral and Written Communication 7. Basics of Start-Up Finance and Accounting • Reference --- Byers - E145 - http://stvp.stanford.edu
  16. 16. 16 It’s a List of “Soft Skills” • we’re all hardcore nerds <ironic smile> • And … believe it or not … You’re likely to be really good at it.
  17. 17. 17 UBC Fizzers Have Rocked • 2of top 3 market cap in BC. – 1. MDA - (CEO) Dan Friedman – 3. PMC-Sierra - current COO Colin Harris, 1st CEO - Ralph Bennett, Fizz 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 U Can Do it!
  18. 18. The Process 18
  19. 19. Lean LaunchPad – Steve Blank A startup is a temporary organization in search of a scalable, repeatable, profitable business model. 19
  20. 20. Search vs. Execution 20
  21. 21. Search Looks Like This 21 Bill Buxton, “Sketching User Experience”
  22. 22. Execution Like This 22 Bill Buxton, “Sketching User Experience”
  23. 23. Customers? 23
  24. 24. “Service/Product” Journey • “Who Is Your Customer?” – :idea: Sketch Your Product and the People it “touches” through it’s usage. • Often it is difficult to determine who is your customer. The service journey gives you a “top level” insight. 24
  25. 25. 25:Service Journey V0.1:
  26. 26. :Whose Problems continued:
  27. 27. 27 Underlying Drivers in Growth Markets Techies: Just try it! Pragmatists: Stick with the herd! Conservatives: Stick with what’s proven! Skeptics: Just say No! Visionaries: Get ahead of the herd! Copyright © Geoffrey A. Moore, 2005, from the book “DEALING WITH DARWIN” “Technology Adoption Strategies”
  28. 28. 28 Technology Adoption Life Cycle Chasm Early Market Bowling Alley Tornado Main Street Copyright © Geoffrey A. Moore, 2005, from the book “DEALING WITH DARWIN”
  29. 29. The Scorecard 29
  30. 30. “startups are not simply smaller versions of large companies” – Steve Blank Means that we don’t know what the business plan is! Means we’ve got to figure it out! 30
  31. 31. test 31 :Score Card: ( Hypothesis Summary) Guess Guess Guess Guess Guess GuessGuess Guess Guess
  32. 32. Keep Track 32 Week n Week 1 Week 2
  33. 33. Summary 33
  34. 34. 34 Fix & Adjust Act Review & Learn No one knows the answer!You’ve got to discover it. Be persistent. This is everything u need to know :-)
  35. 35. 35 Context for Lean LaunchPad
  36. 36. The End 36
  37. 37. More 37
  38. 38. People vs Technology • Notice that I didn’t talk about technology at all today. • You’re deep technical knowledge allows you the opportunity to solve “peoples problems” with technology. 38
  39. 39. 39 A Product That Sells Itself
  40. 40. 40 iPod Timeline Cycling, Cycling, and more Cycling
  41. 41. 41 ? Instant Success ? In 4th year after launch. ( ie 6 years ) This is as fast as it gets. NB. Apple's 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. http://en.wikipedia.org/wiki/File:Ipod_sales_per_quarter.svg
  42. 42. “7 Steps” (Minimum) Customer Development 42

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