'How To Be A Successful Start Up' Innovation Session Outputs Overview 091124

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Workshop outputs from an innovation session held in Sofia in November 2009. Pushing for ideas and perspectives on how to turn start-up ideas into successful businesses.

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'How To Be A Successful Start Up' Innovation Session Outputs Overview 091124

  1. 1. 24/11/09 – One hour innovation  workshop task outputs: “How to effectively turn start‐up ideas into  profitable, sustainable business reality” Facilitated by: Niall Jones, ideas‐bg ‘Never trying’ was the most popular perceived  cause of how to fail to turn start‐up ideas  into successful businesses. To ensure this does not happen the group  believed that : ‐ toleration and sharing of failures ‐ encouraging just taking the ‘leap’ ‐ inspiring people ‐ sharing successes ‐ and running start‐up competitions were among the best remedies.
  2. 2. The groups view was that the  Perfect Start‐up Owner/Manager …has…most importantly:  ‐ belief (8);  ‐ but also determination (5); ‐ and good values (3) And that the Perfect Start‐up Idea …has…most  importantly:  ‐ made the world a better place (7);  ‐ has revenue potential (5);  ‐ and has met a new need or niche (2) The Perfect Start‐up Eco‐system… has…most  importantly:  ‐ access to expertise (6);  ‐ and access to guidance on  ‘how to do it / to get started’ (4);  ‐ a good pool of success stories (3)  ‐ and, a good, interactive network (3). Nos. of participant votes received in ( ) after each idea, where applicable
  3. 3. The 5 most Popular Ideas on the ‘achieving start‐up success’ question were:  ‐ enjoy yourself (27);  ‐ get the right people involved / on the team (21); ‐ get the money needed (17); ‐ start acting (16); ‐ and meet customer needs (15) However…3 similar ideas…:  ‐ get the right people involved / on the team (21);  ‐ know if I have the right people around me? (8); ‐ and, find good friends or family to help you (14) …are all closely linked.   In conclusion, the consensus view on what start‐ups need more than anything else to be successful was: ‘People’! The right mix of people in the team,  and the right network of people to offer advice,  expertise, support, guidance, mentoring, etc. Nos. of participant votes received in ( ) after each idea, where applicable
  4. 4. Finally, we developed the idea of how  to build a successful team of people,  and concluded that: ‐ complementary expertise ‐ shared values and vision ‐ strong leadership ‐ being inspirational ‐ clarity of purpose ‐ team motivation ‐ dedication ‐ a hard work ethic ‐ ability to network ‐ and good communication skills were all key factors. Conflicting egos was considered  the main barrier to building a successful team. Thanks to everyone who attended and contributed! E: niall@ideas‐bg.com T: 0885 519 755 www.ideas‐bg.com using ideas to make things better 

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