Ilkka O. lavas entrepreneurship is coolest career choice 2012


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Lecture notes about Entrepreneurship at Aalto Univercity Helsinki.

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Ilkka O. lavas entrepreneurship is coolest career choice 2012

  1. 1. Entrepreneurship isthe coolest career choice Ilkka O. Lavas Serial & paraller entrepreneur
  2. 2. challengeWhat are my risks? What are my possibilities?
  3. 3. Entrepreneurship Ilkka O. Lavas is your • own Started my first company at high school. Since that I have been entrepreneur. Now I am related to more than 10 businesses. choice • Have bought/sold 6 companies/businesses • Founder member in 5 businesses • Survived 2 recessions • Young Entrepreneur of the year 2009 in Uusimaa • Entrepreneur of the year, 2010 KeravaIce climbing Glaciar Viedma Statistics: by alextorrenegra / Flickr • 33years, 2 boys, 1 wife, 1000+ fb connections, 500+ linkedin conns, twitter @lavas
  4. 4. Why people are scared of starting• What is so scary in starting up a new company? – If it does not work, you can always stop being an entrepreneur and go back to work 8-16. (Sometimes you can even agree this in advance.)• Risk management: – What can you really lose? Do you need to take debt? – How big is your risk? Can you handle it? – If your biggest costs are your salary + rental, then your loosing risk is NO salary for 1-6 months + rental costs = max 10k€”The big unknown heaven is more scary than known hell” –Kaija Koo.
  5. 5. My CareerSometimes you enjoy success Sometimes you fail Sometimes you surviveEntrepreneurial life is all about New Experiences
  6. 6. This is where I started. I had 0€.Took 50.000 FIM Loan for start
  7. 7. Business portfolio 1. Lavasdesign Oy – investment, it –consulting, startups and entrepreneurship eCommerce, Internet Customs 3D-Cad / Web W3 Social Spam and marketing declaration Drupal BIM portalGroup shopping Virus and logistics software specialists Software businessFinland and Cent protection Ilmainensana company company Druid Oy import Oy LaKo Trade Oy Samex Solutions Oy auction company company Suomikauppa.FI company CTRL Service Oy / Software Web projects EMCS stock Micro Aided No Spam Service projects Hintabingo Oy m reporting software Design Oy Karkkigalleria.fiTeam Entrepreneur Partners in my businesses constist of:Business Angels, Professional Directors, Customs Software professional, Software Hostingprofessional, talented Software developers, Internet Marketing specialists, BIM specialists andprofessionals, Financial Geniouses, Watch EnthusiasticI have 10-100% ownership of my companies. Total 70+ people working in these companies andtotal revenue 6 Meur.
  8. 8. Different types of StartUP1. Self employmentStartUPLD HairMaarit LavasHairdresserNo big money/exitopportunities, butyou do what youlike to do and getliving.
  9. 9. Different types of StartUP2. Lifestyle StartUPMADbike.orgMotorbike tripsfor people.Entrepreneur Severi Virolainen loves to driveabroad, in Jungle and exotic places. This is goodway to do what you love and get funding foryour hobby. At the moment in Laos/Cambodia
  10. 10. My First StartUP + reincarnation of the business after 15 years / Growth business- Started 1995 for myself employmentin high school- reborn W3 GroupFinland Oy 2010reborn to becomegrowth company:Bought 3 companies/ businesses.New board andnew management and entrepreneurship team. Newname and company structure. New Growth strategy.• 2011: More than 200 customers, 2 Meur revenue, 30 people working. Growing!
  11. 11. StartUP Cash Flow businesses• Cash Flow business is best business if you are willing to stay owner for 10+ years.• Build this business to survive recessions and to grow all time.
  12. 12. Build to be sold StartUP• Another type for startup is build business to be sold. Ownership time 3-7 years.• Our startup 1997 fastest growing site in 90’s.• I was one of the team together with Lauri, Henri and Robert.• Later was sold to Lycos by Interactivum + entrepreneurship team.• I sold too early and earned 1 markka (20cent) of my share.
  13. 13. My dictionary businesses
  14. 14. Specialize in niche market• Sometimes small niche market may be more profitable than existing market. You need to be the best in your area.• For example Samex has 3 customs specialist and they are selling electronic customs declaration software as a software (SaaS).
  15. 15. Ownership changes• Sometimes you need to change company culture to make sure company will survive. – Management Changes, Employee changes, Owner changes – Reinventing business models
  16. 16. Entrepreneurship: The best career choice!• I can help people and companies with IT solutions• You can be your own boss• You can choose when to work and what to do• You can choose where your workplace is located• You will learn new things• You will get as much challenges as you want or need• Work day is flexible, not only 8-16.• You can change the world , woohoo!!• Making money is only result of making good work
  17. 17. Why Entrepreneuship?• Passion of Competition• Passion of Success and Adventure• Passion of personal career development• Passion for growth• Passion for Challenges• Way to build career Lake Shasta, California, June 2008, Mike Vondran, Wakeboarding. By over_kind_man
  18. 18. Different career choices Examples
  19. 19. Career in one company Company X Position1 Position2 Position3• Title1 • Title2 • Title3• Challenge1 • Challenge2 • Challenge3• Developement1 • Developement2 • Developement3
  20. 20. Career by changing a company •Challenge1 •Challenge2 •Challenge3Company1 Company2 Company3 •Develpment1 •Develpment2 •Develpment3
  21. 21. Career as Serial Entrepreneur /Portfolio Entrepreneur / Consultant Company1 Challenge1 Development1 Company2 Challenge2 Development2 Company3 Challenge3 Development3
  22. 22. As entrepreneur you can • Run lifestyle company / hobby • Run single growing company • Many businesses one after one (establis/buy, develop, sell) • Many paraller businesses (Establish/buy, develop) (Establish/buy, develop) (Establish/buy, develop) What is maximum amount?Anella Olimpica, Barcelona, Catalonia,Spain, By dbaron / Flickr
  23. 23. When you spend 8 hours doingsomething, you should be able enjoy it• Most important in worklife is to enjoy work and your achievements at work itself good feeling to• you need to have go to work every day• if you don’t like your job or don’t feel good at job: QUIT
  24. 24. My Books• In finnish 2005• About positive Things in entre-preneurial lifeISBN: 952-91-8686-XNew book coming 2013 about UnstoppableEntrepreneurship (in Finnish).
  25. 25. How do you define success? Ilkka O. Lavas, yrittäjä, www.ilkkaolavas.com2012
  26. 26. Kiitos • Questions: – – – – Twitter: @lavas – Linkedin ilkkalavas Ilkka Lavas, yrittäjä, W-CREATE Oy /11.10.2005 LavasDesign