P3 Ventures is a Latin American company that supports entrepreneurship through initiatives like reviewing over 10,000 startups, supporting 1,000 business ideas which have led to over 500 new companies. They have helped the 25 biggest startups generate over $100 million in sales and attract $20 million in funding. P3 Ventures provides workshops on developing an entrepreneurial mindset and covers topics like effectuation, networks, innovation skills and design thinking.

1. Entrepreneurial Mindset
Workshop

2. Who
we
Are

3. P3 Ventures
P3 Ventures S.A. (People – Profit - Planet), is a company that
supports the development of entrepreneurial ecosystems, the
creation and acceleration of high growth new businesses, and the
development of corporate entrepreneurship initiatives in Latin
America.
It was founded by a team with 18 years of international
experience providing support in the improvement of the
conditions for competitiveness in the continent.

4. Results
• We have review over 10 thousand new businesses.
• We supported over 1.000 new business ideas.
• Over 500 business ideas have built new companies.
• The 25 biggest early stage initiatives supported by us account for
over 100 million USD in sales.
• These companies have also attracted over 20 million USD in sales
and venture capital.
• We set and launched the first corporate entrepreneurship platform
in Latin America.
• Development and strengthening of entrepreneurial ecosystems in
over 10 countries.
• Support in the design and launch of various early stage funding
instruments in several countries in the region.

6. Some of our
clients and
partners…
Government
Agencies
and
programs
Founda7ons,
NGOs
and
think
tanks
Venture
Capital
Chambers
of
Commerce
Banks
Interna7onal
Coopera7on
Business
Incubators
and
technology
parks

7. How to contact us?
Email:
mreyes@p3-­‐ventures.biz
Twi(er:
@P3Ventures
Facebook:
h6p://www.facebook.com/p3ventures

8. Where can you find more
information?
http://www.facebook.com/p3ventures

9. LINKEDIN.COM

10. Objectives
• Explore the identity, attributes, strengths and
entrepreneurial effectual skills of participants.
• Understand that entrepreneurship is a creative
process, not a planning one.
• Communicate the value of networking in
finding complementary capabilities in forming
teams and the progress of the initiatives.

11. Today´s Agenda
• What is entrepreneurship? Definition.
• Entrepreneurial Behavior: Effectuation.
• Uncertainty: non predictive control.
• Self-efficacy and growth mindset.
• The Talent and the Outliers.
• Importance of Contact Networks.
• Innovator's DNA and Design Thinkers.

12. What is entrepreneurship?
“Entrepreneurship is the pursuit - and
capture- of opportunities without having all
the resources controlled”
(Howard Stevenson, Harvard Business School professor, “Breakthrough
Entrepreneurship”)

13. Crystal Lagoons

14. Beleza Natural
• Founded by Heloisa "Zica" Assis a maid who became
an entrepreneur. She founded a successful chain of
hair salons for poor women in his native Rio de
Janeiro.

15. Entrepreneurs in Latin America:
Gastón Acurio
• Peruvian Chef who has
made peruvian cuisine
popular worldwide.

17. Largest fitness chain in LATAM
(87 branches: 40 Col + 37 Chi + 5
Perú)

18. Serial Entrepreneurs

19. 5 Principles of Effectual
Entrepreneurship
• Principle of "bird in
hand”: when starting a
venture, entrepreneurs do
it with what they have
(who I am, what do I
know, who do I know).
Then, they imagine
possibilities that may
arise from these means.

20. • Principle of "affordable
loss" entrepreneurs
understand how much
you are willing to lose in
each step, instead of
l o o k i n g f o r g r e a t
opportunities "all or
nothing".
5 Principles of Effectual
Entrepreneurship

21. • Principle of Co-creation:
entrepreneurs form
partnerships with
stakeholders who are self-
selected. Co-create markets
with interested participants.
5 Principles of Effectual
Entrepreneurship

22. • Principle of "lemons to
lemonade" or leverage
contingencies: entrepreneurs
interpret bad news and
surprises as clues to new
markets.
5 Principles of Effectual
Entrepreneurship

23. • Principle of "pilot in the
plane" or world view: by
focusing on activities that are
in your control, entrepreneurs
know that their actions will
have consequences. They
believe that the future is not
predicted or found, but it is
created.
5 Principles of Effectual
Entrepreneurship

24. • Pilates, of German origin, was imprisoned in a
small space, where he created the tension and
bending method that would become so popular ...
• He later emigrated to the U.S. - NY, and was in that
city that his methodology found fertile ground
among artists and entertainers who had to
maintain the form, fitness and flexibility ...
• …Pilates solved better than other
offerings that need …

26. Activity 1:
Unexpected
events Individually:
• I d e n t i f y f i v e
unexpected events that
had a positive impact
on your lives.
• I d e n t i f y f i v e
unexpected events
which have impacted
negatively your lives.

27. Band of Brothers (scene)
hDps://www.youtube.com/watch?
v=Qj3X7HfezzE

28. Star Trek

29. Non predictive Control
Reality is not predicted or planned, is created.

30. “Pivots” examples

31. Pivots Paypal
• Encryption software for portable devices.
• Business APPS.
• Consumer APPS.

32. • instagram

37. In both cases, there was the challenge of
addressing a problem where others had
failed.

38. Activity 2:
Unexpected
Events
(Thinking out of
the box)
Individually:
• Draw the 9 dots pattern on a
sheet.
• Then join the 9 dots, but do not
draw more than 4 straight
lines.
• Do not lift your pencil from the
paper.
• Lines can be drawn from any
angle.
• When finished, there should be
a line passing through each of
the dots.

39. 10
minutes

40. …and the solution is…

42. Definition of self-efficacy(Bandura)
Self-efficacy is the expectation
that one has the skills to run a
certain course of action

43. • http://www.ted.com/talks/
david_kelley_how_to_build_your_creative_
confidence.html

44. Fixed Mindset vs. Growth
Psychologist Carol Dweck
suggests that those with a
"growth mindset" who
assume they can develop
their skills and that these
are not fixed, can get
better results.

45. Activity 3:
Who am I to play
this game?
Group:
- Form groups of 3 people.
- Read the adjectives on the
worksheet.
- Identify 12 adjectives or
words that describe your
personal qualities.
- Explain in one sentence why
each of these words define you.
¿How do others see you?,
Successive presentations and
feedback.
15 minutes

46. Effectuation
• Entrepreneurs do not operate like
MBAs as they operate in a context of
great uncertainty.
• To begin with an entrepreneur only
needs to answer three questions: Who
am I? What do I know? Who Do I
Know?

47. An “Outlier” is an exceptional
talent as a result of more than
10,000 hours of intense work in
any field.

50. Khan Academy Video

51. Video Billy Elliot
• wweqw

52. Motivated by human relationships
("human” social networks), that promote
interactions, relationships, growth and
personal and professional development
C O N N E C T I N G T H E W O R L D
ENTREPRENEURS TO MAKE THEM MORE
PRODUCTIVE AND SUCCESSFUL
Sociologist, mentor, entrepreneur, investor

53. Activity 4:
My Business
Model
Individually:
• Build your personal business
model canvas staff box by
box, as shown in the next
sheet.
• Form groups of 3 people.
• Present them, give and receive
feedback
25 minutes
Group:

54. 12 3
4
5
6 7
8
9

55. Independent
bouAque
clothing
designers
who
have
their
own
shops
Web
Programmers
and
printers
Building
brand
/
idenAty.
Increased
sales
and
customer
reach.
Transmit
Company
Values
Wep pages,
catalogs and
advertisement
in magazines
Contacts
and
my
web
page
Payment
for
hours
worked,
business
alliances
and
referral
to
other
customers
SoKware
licenses,
travel
costs,
computer
items
and
travel
costs.
Directly
with
the
customer,
outsourcing
graphic
design
services.
Family
with
years
in
the
apparel
business.
Graphic
Designer
Title
Example
of
Personal
Business
Model
Canvas
12 3
4
5
6
7
8
9

56. Iron Man Movie (scene of first
Ironman)

57. Importance of Contact Network
• Access to information and resources (money,
first customer, partner, allies, etc..)
• Access to skills (multidisciplinary).
• Power, influence ...

58. Network Identity:
Who am I in my network?

59. “…The
Englishmen
are coming...”

60. Mary Gates o Dear Mary
• Before Microsoft was known, Bill Gates had an unusual
distinction in his network, his mother Mary Gates was
part of the board of directors of United Way with John
Akers senior executive at IBM.
• At that time, Akers among others led IBM's entry
desktop computers.
• And Mary spoke to him about the new generation of
small businesses in the industry that were
underestimated as competitors of the largest firms
with which IBM traditionally associated.
• Maybe she changed Akers vision about to turn to the
new operating system of the IBM PC, or maybe her
comments confirmed what he thought …

61. Roles in creating Networks
Malcom Gladwell
“The Tipping Point”
CONNECTORS
People working to unite worlds. They know many people who believe in them. They
know influential people from different groups. They have a lot of imagination. They
are very sociable..
MAVENS
They are information specialists. We use them when we have problems in the areas
in which they stand out. They read a lot, love to give advice, they are motivated to
help.
SALESMAN
They impress everyone. People find them funny and listen to them. They are
charming and charismatic. Passionate, know how to harness the power of
persuasion.

62. Activity 5:
Roles in
Networks
Individually:
• On a white sheet, answer the
following questions:
– What is the role that I perform in
my network?.
– Which of these roles are present
on my entrepreneur team or
enterprise?
– Which of these are missing?.
• Present and give feedback in
groups.(15 minutes)

63. Activity 6:
My contact
Network
Individually:
• Reflect on your network.
• Identify the 10 most
important contacts you
have, indicating who
introduced you to each
contact (use the matrix in
the next slide).
• Identify when and under
what circumstances met
each contact.
• Present and give feedback in
groups.
(15 minutes)

64. Network Matrix(activity 6)
Contact Name Who introduced me to
them?
To whom I have
presented this contact?
Me…
Me…
Peter
John
Diego

65. Ideas are completed with others...

66. Socialstructing
People, artists, musicians,
creative class are the balm of
relationships that create value
outside the formal boundaries ...
... ... based on building social
relations, NO money, but to
share talents, interests:
Entrepreneurship Community!
The
Reality
of
What
Makes
Silicon
Valley
Tick
by
Marina
Gorbis
ExecuAve
Director
of
The
InsAtute
for
the
Future

67. Innovation and Entrepreneurial
Community (Brad Feld)
• Brad Feld is the leader of the accelerator and
discovery fund Techstars Boulder.
• Leadership should emerge between
entrepreneurs.
• The community is a source of resources
(mentorships, money, equipment, partners, team,
first sales, etc.).
• Las otras entidades (gobierno, universidades,
fondos de inversión, grandes empresas), deben
asumir el rol de “alimentadoras”, pero no restar
protagonismo a los emprendedores ni asumir el
control de la comunidad.

68. The diversity of a tropical forest

69. Best endeavors are highly
innovative or create
meaning for people.

70. In
his
office
at
Apple
in
1982:
when
asked
if
he
wanted
to
perform
a
market
research,
said:
“No,
because
customers
do
not
know
what
they
want
unAl
we
show
it
to
them”

71. Innovator's DNA

72. Innovator's DNA
• Associative Thinking
• Constant questioning
• Acute Observation
• Generation of new links (large and
heterogeneous networks)
• Willingness to experiment
Fuente: “The Innovator`s DNA: Mastering the Five Skills of Disruptive
Innovators”, Clayton Christensen et al, 2011

73. Design Thinking
Understand
Observe
Define
Invent
Prototype
Test

74. Profile of a Design Thinker
• He or she is empathetic.
• Use integrative thinking.
• Optimistic (solutions are possible).
• Experimentalist (tests and iterates
various alternative solutions).
• Collaborator (works in groups and
for the customer).
• Innovation has many faces
(interdisciplinary approach).
Understand
Observe
Synthesize
Prototype
Iterate
Implement

75. Artists and Innovators for building
exceptional products

76. Activity 7:
My
Entrepreneurial
Team
Individually:
• Identify the top 5 skills,
abilities and / or talents that
requires your enterprise.
• Indicate which are the
strongest and the weakest.
• Present and feedback in
groups.
(15 minutes)

77. www.p3-ventures.biz

78. Entreprenurial Mindset
Workshop