The Entrepreneurial Mindset Part II
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This is the second part of this module. You can see that I use a lot more visuals in this one, influenced by Garr Reynold's video talk on Presentation Zen. I guess visuals by themselves aren't as helpful as text, so maybe I'll try adding audio on this one. :)
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The Entrepreneurial Mindset Part II
- 1. The Entrepreneurial Mindset Part II Christopher Zobrist czobrist@cal.berkeley.edu
- 2. Review from Last Week 1. What are the two types of thinking? 2. Which type is better and why? (Hint: This is a trick question!)
- 3. Answers Causal E ff ec tu al and now… What kind of situation should I use effectual logic?
- 5. 3 Urns Analogy Predictable Risky Unpredictable
- 6. Knightian Uncertainty • What is the difference between Risk and Uncertainty? • Uncertainty is immeasurable • Risk is measurable
- 7. Two Approaches to Deal with Uncertainty Causal Effectual
- 8. Team Exercise: Co-Creating Opportunities • Your product is a Green pen (The product can be anything) • Your customer wants a Blue pen (The product attribute can be anything) Discussion: How would you respond?
- 9. Four Logical Approaches High Prediction Low Prediction Low Control High Control
- 10. Effectuation in Action • Read Cold Opportunity Case (A) • Put yourself in Nils’ position. – Your event has been rained out – You are out of money • What would you do?
- 11. What did Nils do?IGLOO
- 13. Cold Opportunity Case B • Read Cold Opportunity Case B • Absolut will not respond to your request for partnership. • What would you do?
- 14. Cold Opportunity Case C • Read Cold Opportunity Case C • What risk did Nils take? • How does Nils make money? • What is his business worth?
- 15. Hotels
- 16. Weddings
- 17. Bars ICEBAR London ICEBAR Singapore
- 18. Carving and Shipping Ice Over 1 million glasses per year!
- 19. • Nils started as a worker in a mine • His first business was as a river rafting tour guide • His first ice sculpture show was rained out • So what’s your excuse? JUST DO IT!
Editor's Notes
- Urn 1 (Predictable) – Made of clear glass, so you can see inside and calculate the ratio. Urn 2 (Risky) – You can not see inside, but can draw a few items out to calculate the approximate probability. Urn 3 (Unpredictable) – Can not see inside, and each item you draw is different from the last, so you can’ t predict what will be next.