Entrepreneurship

approach for launching innovative ideas

- path to sustainable business

- reducing time and costs

- reducing possibility of failure

goal: any change is a learning

MVP: minimum value product

-> based on that two decisions: 

1. persevere: with our product it feels good

2. change direction with a new business sturcture

What makes some businesses fluorish?

9 Step plan:

1. Customers
2. Delight: our innovation
3. Customer Acquisition
4. Business Model
5. Partners
6. Competitors
7. Go-global
8. Team
9. Reality check

Goal: focus entrepreneurs on high risk and actionable factors related to start-up business

UVP (Unique Value Proposition) is a message that state why are different and worth buying. You

must derive your UVP directly from the problem you are solving

Combination of Business Canvas and Lean Canvas - combining the key success factors to build a start up - make the company work as soon as possible

Inner Circle (Problem, Customer development, value proposition, assumption)

1. Problem: Represents the starting point, what the entrepreneur is trying to solve, the needs of

the customers

2. Customer Development: Such as customer segments it analyzes channels and customer

relations

3. Value Proposition: Description of the value that differences the actual product/service

4. Assumptions: They are fundamental hypothesis on which the idea of the startup is based

Strategic Definition face (Business model, marketing, financial plan, intellectual property)

5. Business Model: Is the logic by startup creates value, distributes the value to your customers,

generating revenue. Every business model must be scalable, repeatable and sustainable.

6. Marketing: Focus as best as possible in the success of project through advertising, PR, etc.

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7. Financial Plan: Calculate the cash flow that startup will generate

8. Intellectual property: Holding or not holding a patent make the difference in the market in terms

of competitiveness and bargaining power

Execution Face (Team, operations, traction, fund raising)

9. Team: The people inside the startup, who found it and who work inside it.

10. Operations: highlights of the startup: where, when, why it was created and what labour law

govern it

11. Traction: The growth model of the startup after having a position and visibility in the market.

12. Fund Raising: As fund raising has been placed in the last quadrant of the startup canvas

because only after having structured the different faces we’ll it be possible to present the startup

to the investors.

Goal: Turning passive actions of users into active actions for feedback in form of data

new  business enterprises to achieve social change - it is not a charity agency - emphasis on human values rather than profit

Elements of social enterprise: There are 3 core elements:

1. Provide benefits for the community

2. Creates opportunity which people can help themselves and others

3. The business will encourage environmental sustainability as well as ethical consideration

• driven by a social mission
• sucess = social impact
• creation of social value
• innovative models

1. Find an opportunity (linked with social issues)

2. Develop a business concept

3. Figure out what success is and how to measure it in financial and social terms

4. Acquire the right resources and consensus

5. Launch and grow (use interviews to grow and understand potential issues)

6. Obtain goals.

• written
• goals
• methods
• time frame
• nature of the business and the background information

-> road map that provides direction to the business

1. Company Name
2. Mission Statement
3. The Team
4. Market Summary
5. Opportunities
6. Business Concept
7. Competition
8. Goals and Objectives
9. Financial Plan
10. Resource Requirement
11. Risks and Rewards
12. Key Issues

30secs to 5 min

1 Title,

2 Problems and Opportunities,

3 Value Proposition,

4 Innovation,

5 Business Model,

6 Go-to-Market plan,

7 Competitor analysis,

8 Team description,

9 3-year financial forecasts and

10 Current status, successes achieved, timeline and use of funds.

-Product

-Price (Price)

-Point of sale (Placement)

-Communication (Promotion)

"Customer value"

"Change" (structural capacity of the company to change itself and what it proposes to the market)

"Convenience" (easy for customers to find products)

"Communication" (Customer - Company interaction)

- Combination of BMC and System Dynamics (7 parts)

- Includes, loops processes and interactions

Why?

- fast reaction in crisis situation (ex. COVID 16)

- risk minimizing

- enhance resilienca

-strategic experimentation and learnings

-better understanding for complex business models

Entrepreneur is an individual who organizes a new business taking a financial risk because it

requires money to set up a new business without knowing if it will give a return on investment.

• Strong work ethic

• Confidence

• Self Starter

• Creativity

• Calculate of risk

• Sees opportunity

• Tolerance of failure

• He must infuse value

• Innovating (E.): They are aggressive in experimentation and cleverly put attractive possibilities

into practice;

• Adoptive/Imitative (E.): Adopted innovation created by innovating E.

• Fabian (E.): They are timid, cautious and skeptical in adopting innovation

• Drone (E.): They are conservative and orthodox in outlook

• Pure (E.): Motivated to become entrepreneur for personal satisfaction

• Induced (E.): Induced by assistential help

• Private (E.): Private capital

• State (E.): Help by State

• Joint: Mix

An entrepreneur can fail for management mistakes, lack of experience, poor financial control,

weak marketing efforts, failure to develop strategic plan, uncontrolled growth etc.

The entrepreneurial process is based on 4 steps:

1. Deciding to become ad entrepreneur

2. Developing successful business idea

3. Moving from an idea to an enterprise

4. Managing and growing the enterprise

• Attitude: Is the self knowledge;

• Creativity: Is innovation, resolve problem solving;

• Relationship: Ability to communication and working with others in team;

• Organization: Making decision, managing risk, understand environment.

Simultaneous pursuit of differentiation, it’s a strategy that search to createand capturing uncontested market space (Apple, Wii, Cirque Du Soleil, Yellow Tail, Skype are companies that adopted this strategy).

1. Prudence: Is the virtue that starting from the knowledge of the reality, to make good decision

for specific case knowing all the elements. It lead other virtues;

2. Justice: Constant and perpetual wish to give to each his/her own right. We can distinguish

commutative justice (it’s for people to the same level), distributive justice and legal are vertical;

3. Fortitude: Virtue that enables one to face leadership and suffering without falling into despair

and anguish

4. Temperance: Is the virtue that allows to adjust the passions which tend first to sensitive

goods. It provides especially to regulate the action with moderation

Making desirable discovers by accident/the faculty of finding valuable things not

searched. It involves 3 elements:

1. Sagacity: Ability of changing situation at your advantage

2. An event: Contingency

3. An activity

Finding a benefit from shocks. It’s something beyond resilience or robustness,

because with resilience you remain the same of the shock, with antifragile you become stronger.

A new product is anything offered to a market for attention acquisition or consumption that might

satisfy a need or want. Product includes goods, places, person, ideas.

Some product are sold to consumers other are sold to organizations.

1. idea generation
2. choose the best
3. clarify the idea
4. marketing strategy
5. business model/analysis
6. develop a prototype
7. test of a prototype on a market
8. commercialization

brain storm variants

- vertical: linear process

- lateral: random ideas

SCAMPER (problem describing)

S: Substitute

C: Combine

A: Adapt

M: Modify

P: Put to other use

E: Eliminate

R: Rearrange

-> offering a better version of an existing product

What i am going to do in the future? -> drives strategic decisions