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Asbiro Warsaw - Introduction to Business

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7th April 2019
Slides from a 90 minute workshop in Polish for Asbiro - a private Polish University focussed on entrepreneurship.
About Asbiro https://www.asbiro.pl/o-nas/

Content mentioned in the workshop included:

https://www.ted.com/talks/richard_st_john_s_8_secrets_of_success?language=pl

https://www.ted.com/talks/derek_sivers_how_to_start_a_movement?language=pl

www.richardlucas.com/2013/09/questions-from-a-potential-investor/

www.linkedin.com/in/richardhlucas/

https://projectkazimierz.com/podcasts/

www.facebook.com/groups/entrepreneurshipbyrichardlucas

Published in: Business
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Asbiro Warsaw - Introduction to Business

  1. 1. RICHARDLUCAS 1979-2019 7th April 2019, Warszawa Mistakes & Lessons Learned www.richardlucas.com
  2. 2. Workshop Expectations/Goals Motivation/Participation, involvement & respect Be useful/share knowledge Save you millions of Złoty JRL Rule – Remember one thing
  3. 3. Lessons Learned ATRQ “Ask the right questions” RTFG “read the xxxx ing agreement” ITSTGTBTIPI “if it seems to be to be true it probably is” FMIAAD “free money is an addictive drug” HCIT “How cool is that” IAAP “it’s all about people” YIINE “Your Idea is not enough” LBDIEAD “learning by doing is expensive and dangerous” richardlucas.com
  4. 4. Lessons Learned DME Don’t make Excuses CYLYITM Can you look yourself in the mirror WAYTTI Who are you trying to impress ETJ Enjoy the journey GOOYL Get out of your lighthouse ER Embrace/Expect rejection ABL Always be learning DIYTFSTDI do it yourself then find someone to do it 3Cs 3Ps S (Clients, Competition, Costs, People,Product,Process,Strategy) richardlucas.com
  5. 5. Lessons learned from 30 years of failure (and some successes) Business model Financing Risk Commitment People Leadership Enjoying the journey Techcrunch/Event myth Self Awareness Timing & time Luck Ask the right questions richardlucas.com
  6. 6. Ask the right questions What problem does it solve? Does it make sense? How is it going to make money? How big is the market? Why is this going to succeed? How driven and committed are the founders? What can possibly go wrong? What happens if it does go wrong? richardlucas.com
  7. 7. Ask the right questions/2 How will I get my money back? How can I be sure the person I am talking to is not BS-ing me? Can I call a friend? What do clients and potential clients say richardlucas.com
  8. 8. Noren HCIT (how cool is that?) richardlucas.com
  9. 9. Ignite Warsaw February 2011
  10. 10. Icebreaker
  11. 11. Icebreaker (4 mins) Find someone you don’t know What would you most like to learn from an immigrant businessman who has set up 35 businesses in 28 years in Poland
  12. 12. Key facts Started 35 ventures 14 still trading had GBP10K in 1991 Invested about 4.4 mln pln from dividends No exits, live of dividends About 700 employees “2 year” rule Amazing clients My share of the value in the businesses ?????? maybe PLN xxxx mln (inc. two office buildings) Under capitalised 3 times CEO If I knew then what I know now……. richardlucas.com
  13. 13. www.richardlucas.com
  14. 14. HBR – 2018 richardlucas.com https://hbr.org/2018/07/research-the-average-age-of-a-successful-startup-founder-is-45
  15. 15. Dialogue Cards One Card per group of three Discuss your question Given the choice of anyone in the world whom would You want as a dinner guest? Kogo z całego świata chciał(a)byś gościć na kolacji? 1 Given the choice of anyone in the world whom would You want as a dinner guest? Kogo z całego świata chciał(a)byś gościć na kolacji? 2 Given the choice of anyone in the world whom would You want as a dinner guest? Kogo z całego świata chciał(a)byś gościć na kolacji? 3
  16. 16. www.richardlucas.com
  17. 17. Richard St John - TED Talk richardlucas.com
  18. 18. Learning by doing Painful Expensive Dangerous Wrong richardlucas.com
  19. 19. November 2009
  20. 20. LEARN TO LOVE REJECTION www.richardlucas.com
  21. 21. www.richardlucas.com “It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all” JK Rowling
  22. 22. RICHARDLUCAS 1979-2019 7th April 2019, Warszawa Mistakes & Lessons Learned www.richardlucas.com

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