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GEC 2017: Didem Altop
- 1. SCALEUP STRATEGIES FOR THE ZEN ENTREPRENEUR DIDEM ALTOP ENDEAVOR TURKEY COFOUNDER & MANAGING DIRECTOR MARCH 15, 2017
- 2. SO MUCH ADVICE TO SHARE THAT IS MOSTLY COMMON SENSE. EASY TO SAY, HARD TO DO… • Focus on a clearly defined target market with legitimate growth potential & how you will most effectively reach them • Focus on a truly valid value proposition with a sustainable competitive edge • Focus on optimizing products/services & how you will most effectively deliver them • Focus on real customer feedback & timely data analysis • Focus on cashflow (be stingy) & time (be generous) management • Focus on building the right team, culture & networks
- 3. CAN ANYONE LAUNCH A STARTUP? WHAT ABOUT SCALEUP A VENTURE? Inspiration Relevance Compelling Action It depends. Inspiration alone is not enough. Both startup & scaleup candidates must always work on intentionally developing their Relevance.
- 4. WHAT DOES RELEVANCE MEAN? Technical Expertise Business Skills Market Reach & Insight Leader-‐ ship Skills It implies swift access to a set of skills & expertise, ideally within the core team. Mentors & other networks can help build & strengthen this capacity. Entrepreneurs should dedicate at least 10% of their time to cultivating mentor & network relations. Access to Capital
- 5. WHAT ARE THE BUILDING BLOCKS FOR STARTING UP & SCALING UP? Product/Service Idea Business Idea Value Proposition Business Model Business Plan The Value Proposition is always the anchoring critical success factor regardless of small business or high impact venture profile.
- 6. WHAT’S THE BIG DIFFERENCE BETWEEN VENTURE & BUSINESS MANAGEMENT? Venture: Exploration in conditions of significant uncertainty. Business: Execution in a competitive environment. Situational Leadership: • Forming (Inspirational) • Storming (Autocratic) • Norming (Mentoring) • Performing (Participative) Sarah Prevette
- 7. WHAT’S THE BIG DEAL ABOUT MENTORS? What you know you don’t know What you know but still need to learn more What you don’t know you don’t know What you don't want to know but need to face With limited human & financial resources, a startup or scaleup’s most valuable resource is time & most important attitude is ability to cope with reality. Mentors can help save time, provide critical reality checks & so much more…
- 8. WISHING YOU A REWARDING, MINDFUL JOURNEY… GOOD LUCK & THANK YOU.