The slides from our recent workshop on entrepreneurship at the AISEC Youth to Business Forum

1. @csralahligroup

2. Our aim is to support young people to start a
business.
We run training and mentorship programs to take
you from forming ideas right through to seeking
investment.
We are completely not for profit and the company
aims to give back to the community.
@csralahligroup

3. The Anatomy of
Entrepreneurship
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4. http://www.youtube.com/watch?v=
T6MhAwQ64c0
Entrepreneurs can change the world
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5. What is Enterprise?
The mindset to create the
change you want to see
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6. Hacking & Hustling
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7. How can you be Entrepreneurial?
1. Starting your own Business
2. Working for a start-up
3. Intrapreneurship
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8. Famous Intrapreneurship Examples
3M: started as a Mining and Manufacturing company.
One employee developed a special adhesive and another added
it to his scrap paper.
Company has sold over $1bn of the little things
Google 20% time:
Employees work one day a week on anything they want.
Products launched from this: gmail, orkut
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9. Famous Intrapreneurship Examples
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10. Is entrepreneurship a
viable career option
after University?
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11. The Good
Working on your Passion
Autonomy
Potential Income
Developing your skills
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12. The Bad
Hard Work
Uncertainty
Opportunity Cost of
Employment
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13. The Ugly
Little sleep
↓
Hair loss
↓
Divorce
↓
Bankruptcy
↓
Less sleep and more hair loss
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14. Most common rebuttal
"Yes, starting a business is the dream, but I think
it is better to go into employment, learn a bit,
accumulate some capital and THEN do my
own thing".
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15. Perceived Risk
Difficult to identify… Impossible to quantify
Highlights importance of your ability to handle
uncertainty
Belief (or the lack of) is self reinforcing –
“Whether you think you can or you can’t; you’re
right.” – Henry Ford
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16. “Once you graduate, on average, you have 4-5
years before you are married. This is a window
of opportunity. Go tell your new wife you are
leaving your investment banking job to start a
business that may fail and see how she
responds.”
@csralahligroup

17. The success stories
Become:
-rich
-famous
-live your dream
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18. Another, more common story:
Gain:
-A good income
- lots of travel
-live your dream
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19. And if all goes wrong
You fail, and you:
-Move to Dubai
-Secure a great
job
-Learn much for
next time
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20. Video – jobs commencement speech
http://www.youtube.com/watch?featu
re=endscreen&NR=1&v=c5aY6rMbOB
o
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21. Activity: Is entrepreneurship a viable
career option after University?
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22. Decision Considerations
Priorities: Constraints:
• Working on a passion • Your parents
• Income Potential • Capital
• Income Security • Time
• Developing your skills
• Working Potential Liabilities:
autonomously • Marriage and Children
• Mortgages
@csralahligroup

23. Activity
Stand up if you want to start a business when
graduating
Stay standing if you know what business idea
you want to start
Stay standing if you think you can do it
Stay standing if you know how
Stay standing if you will
@csralahligroup

24. The start-up process
You>team>idea>structuring
>development>scaling-financing
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25. YOU!
“You want to know
how to paint a
perfect painting?
It's easy. Make
yourself perfect and
then just paint
naturally.”
@csralahligroup

26. 1) Determination
=
Willfulness + Discipline + Ambition
Willfulness: When you want something, you must
have it, no matter what.
Discipline: You have to be hard on yourself and not
give in to new wills counter to your goal.
Ambition: Is a person determined to go for a 100m
jog determined? Have hubris – choose scary
goals!
@csralahligroup

27. The Melon Seed Model
The more willful you are, the more disciplined
you have to be.
We can imagine will and discipline as two
fingers squeezing a slippery melon seed. The
harder they squeeze, the further the seed
flies, but they must both squeeze equally or
the seed spins off sideways.
@csralahligroup

28. Focus on what you can control
Determine how much time you want to spend
with friends, washing, sleeping, gym, eating,
employment in a typical week
– how many hours do you have to work on
your business in a week?
This is something you will always be able to
control.
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29. 10,000 hours
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30. If you really love working on something, you
don't need determination to drive you; it's
what you'd do anyway.
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31. Intelligence
No coincidence Facebook, Microsoft, & Google all
came for the World’s best Universities
The one thing to take from University is to learn to
think critically:
• What are they key assumptions behind the
argument?
• Is this piece of information relevant?
• What is its significance?
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32. Imagination
It's not so important to be able to solve
predefined problems quickly as to be able to
come up with surprising new ideas.
In the startup world, most good ideas seem
bad initially.
If they were obviously good, someone would
already be doing them.
@csralahligroup

33. Resourcefulness
Become easy to talk to, listen, then follow,
chase, chase, chase that advice until you
achieve your its goal.
“A word to the wise is sufficient."
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34. Adaptability
“Planning is a useful servant but a dangerous
master”
React to what you learn.
Aim for the right level of stubbornness
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35. Be a “People Person”
First they need to understand the vision
Persuade others to follow your vision
This quality of leadership applies everywhere in
a start-up:
Sales - Team
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36. Team
What is a good team?
1) Unified goal – all passionate about the idea
2) Complementary (different skills)
3) Complementary personalities (no army of
generals)
4) Long relationships with people you trust
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37. “Startups do to the relationship between the
founders what a dog does to a sock: if it can
be pulled apart, it will be.”
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38. How do you find them?
1. Friends
2. Join societies/clubs – Apple homebrew
computing club
3. Attend enterprise events.. StartUp Weekend
4. Workspaces: MakeBusinessHub & Pavillion
5. Online founders dating!!
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39. Idea
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40. Problem identifying
‘The important thing is not to stop questioning”
Albert Einstein
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41. The Value Proposition
Business exist to solve problems
We offer X, which solves the problem of Y, for
the group of Z people.
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42. Idea – Team fit
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43. Domain Expertise
Rule #1 : Start a business where you are the
customer
Unique combinations of expertise only you have
Do random shizzle.. Jobs dropping in on a
calligraphy class
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44. Key Questions to ask:
1) Identify within the team: passions, skills,
networks, backgrounds. (domain experience)
2) Identify problems team members face in
those areas.
3) Identify needs team members face within
those areas.
@csralahligroup

45. Key Questions to ask:
– Identify the archetypical profile of who encounters this
problem/need. Describe in terms of demographical/socio-
economic terms/tastes.
– In what circumstances/situations do they encounter the
problem/need?
– How are people affected by the problem/need? What are
the emotions experienced from the pain? How intensive is
the pain? How frequent does it occur?
– What outcome do they want? (in the form of: Direction,
Unit of measurement, Functional Outcome)
– How do customers currently solve the problem/need?
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46. Creativity -
http://vimeo.com/25380454
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47. Disruptive innovation
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48. Sophisticated technology that
simplifies
First, a change in technology occurs which is an
enabler for a change in business model.
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49. Low-cost innovative business model
Second, the emergence of the new business model
disrupts the existing arrangements for providing a
specific type of service
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50. Economically coherent value network
Third, supporting networks must be put in place;
often it is not possible to disrupt just one part
of the existing system but rather a whole
series of inter-linked changes are needed.
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51. Standards that facilitate change
The exact way in which all this plays out is
importantly dependent on the government
regulations and policy environment relevant
to innovation.
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52. Structuring Your Idea
“If I had one hour to save the world, I would
spend 55 minutes defining the problem and
only five minutes finding the solution.” –
Albert Einstein
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53. Business Model Canvas
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54. Lean Start-up
Build – Measure – Learn - Iterate
Sign Up to this:
http://www.udacity.com/view#Course/ep245/C
ourseRev/1
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55. Video – lean startup
http://www.youtube.com/watch?featu
re=player_embedded&v=TXj3F5MdHU
U#!
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56. Metrics
CPA – LTV – Churn
– GPM - Burn
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57. Activity
In groups of 5, work out the business model of
an internet portal that connects students with
graduate jobs
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58. Business Models Typology
• Solution shops
• Value-Adding Process
Businesses
• Facilitated Network
Businesses
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59. Solution shops
• Solution shops are structured to diagnose and
solve unstructured problems using highly
trained experts.
• Logo of famous company in this type of
business model as described below. (do same
for next two slides)
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60. Value-Adding Process Businesses
Value added processes generally take
incomplete inputs transforming them into
complete outputs of greater value.
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61. Facilitated network businesses
A business model paradigm in which a
backbone system is used to connect together
like-minded customers so they can exchange
goods and services, share information,
collaborate, or socialize with little
intermediation.
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62. Developing Your Idea
….Get out of the building!
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63. Video – customer development
http://www.youtube.com/watch?featu
re=player_embedded&v=PFlSiHWaaM
s#!
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64. Testing Methods
• Talking to customers/partners
• Look at other companies with similar business
models
• Google Analytics
• Mixpanel
No Surveys!
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65. MVP
What is the minimum product can produce?
Get it into the marketplace then adapt based on
the response.
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66. The role of intuition
“If I'd asked my customers what they wanted,
they'd have said a faster horse.” Henry Ford
Know when to use each paradigm
Find the balance
When you can’t decide... follow your gut!
Without intuition you will just have ideas everyone else
has though of.
@csralahligroup

67. Scaling
Satisfy a focused niche well with a strong value
proposition.
Build processes that can be repeated so the
value proposition can reach a wider audience.
@csralahligroup

68. Adoption
The future is already here; its just not widely
distributed yet @csralahligroup

69. Financing your idea
Money follows ideas
If you present a proven concept with significant
potential ($) you will find investment
Get enough money to prove your initial idea
(MVP)
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70. Khalifa fund and Dubai SME
Offers a number of funding options to Emirati
entrepreneurs; mostly loans. You must be over
21 years old and provide a part of the business
cost.
@csralahligroup

71. Accelerators
• An accelerator typically offers a 3 month
program where experienced entrepreneurs
will mentor, advise and connect you to
catalyse your start-up.
• And of course you get equity investment
@csralahligroup

72. Angel Investors
• Typically high net-worth individuals, often
successful entrepreneurs themselves; will invest
in start-ups in exchange for an equity stake.
• Often such investors bring more than just
finance; the experience and direction they can
provide are often more valuable than the money.
@csralahligroup

73. CrowdFunding
The idea is that funders want to see the
project/product/service come to life and are
willing to give a small amount of money to
make it happen (between $10-1000).
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74. Equity CrowdFunding
• This will involve selling small amounts of
equity to many investors in a very similar way
to traditional crowd funding.
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75. Personal Savings
• Without a proven concept, in truth, few
people are likely to give you any finance,
therefore using your own money is often the
only way.
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76. Personal Finance
Another common method
is to use personal credit
cards or the re-
mortgage of your house
to start a business.
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77. Bank Loans
• To start a business, it is
very difficult to secure
finance in the form of a
traditional business
loan from a bank.
@csralahligroup

78. Golden Resources
• UAE events and resources: (http://uae-
enterprise.blogspot.com/)
• Paul graham website essays
• Udacity – Steve Blank
• Watch the movie: the Avaitor
@csralahligroup

79. Connect on twitter:
…and we shall send you the
presentation
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80. Our Upcoming Program
Microsoft Social Enterprise Program
Enterprise Launch
Global Business opportunities
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81. Focus
Don’t set out to build the best, most fantastic
business ever seen.
Find the first step
Lay one brick at a time and ensure its laid
perfectly.
@csralahligroup

82. Thank you
Remember:
Fill out the feedback and include your contact
details
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