What opportunity is best for your business
Download
1 / 35

What Opportunity is Best For Your Business? - PowerPoint PPT Presentation


  • 53 Views
  • Uploaded on
  • Presentation posted in: General

What Opportunity is Best For Your Business?. Dr Peter Kelly School of Science, Aalto University. What Can We Learn From Wile E Coyote ?. Analytical Thinkers PLAN. Analytical Thinkers Fire Up Excel. What do we teach?. I D E A. P L A N. € $ £ ¥. E X I T. Traditional Roadmap.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha

Download Presentation

What Opportunity is Best For Your Business?

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


What opportunity is best for your business
What Opportunity is Best For Your Business?

Dr Peter Kelly

School of Science, Aalto University





What opportunity is best for your business

What do we teach?

I

D

E

A

P

L

A

N

$

£

¥

E

XIT


Traditional roadmap
Traditional Roadmap

  • Search for new high potential opportunity

  • Light bulb goes on

  • Write business plan

  • Raise money

  • Hire great team

  • Build product/offering

  • Orchestrate big launch

  • Achieve steady or hockey stick growth

  • Trade sale or IPO

  • Retire on beach


Does traditional roadmap work
Does Traditional Roadmap Work?

  • 98% of all new US businesses do not raise funding from angels or venture capitalists

  • 70% of new businesses start with less than $20.000 in founding capital

  • 1 in 6 of INC 500 fastest growing companies started on less than $1.000 (including Dell Computer 1984)


Does traditional roadmap work1
Does Traditional Roadmap Work?

  • Only 6 of 1.000 business plans get venture funding

  • Of those 60% go bankrupt

  • Fewer than 2% of ventures reach an IPO

  • Yet what do we teach? And how?


  • Search and select strategy
    Search and Select Strategy

    • Market already exists in some form

    • Undertake detailed analysis to identify opportunities

    • Assess market potential on basis of segmentation and past demand

    • Assemble resources to exploit the opportunity


    How could you predict
    How Could You Predict?

    • Budget airlines (Southwest 1971)

    • Microlending (Grameen Bank 1976)

    • Online book sales (Amazon 1995)

    • Internet search (Google 1998)

    • Social networking (Facebook 2004)






    What opportunity is best for your business

    IDEA = ANYTHING + YOU


    What opportunity is best for your business

    What is your

    motivation or

    passion?


    What opportunity is best for your business

    • I want to start a business

    • I want to be CEO

    • This is a “hot” sector

    • Investors like this space

    • I want to be rich

    • I am unemployed

    • My boss says I should


    What opportunity is best for your business

    I want to invest

    my time doing

    this because ...



    Opportunities can be made
    Opportunities Can Be Made

    • Incomplete information

    • Market that defies definition

    • Consumers are not aware of their needs or wants

    • Confusing and conflicting signals abound



    What are my means
    What Are My Means?

    • Who I am?

      • Traits, abilities and attributes of entrepreneur/team

  • What I know?

    • Education, experience and expertise

  • Who I know?

    • Social networks



  • Affordable loss
    Affordable Loss

    • Risking little implies thinking creatively about how to bring cost of discovery down while …

    • Determining your walkaway cost in terms of time and money

      • Time seems to be more expendable than money

      • Depends on which type of money (earned income versus found money)

  • Returns are not solely monetary in nature





  • Co creation securing partners
    Co-Creation: Securing Partners

    • Stakeholders bring new means to table

    • Stakeholders invest what they can afford to lose

    • Open minded approach to the opportunity

    • Buy-in as opposed to selling

      • Look for partners with a “win-win” (reciprocation)

      • Who deliver on their promises

      • Who you like dealing with






    Effectual entrepreneurship holds great promise
    Effectual EntrepreneurshipHolds Great Promise

    • Why do we spend our time (means)

    • What do we spend our time doing (affordable loss)

    • Who do we work with (co-creation)

    • Open to and seeking out new perspectives (surprise)



    Peter kelly@aalto fi 358 41 503 4508
    peter.kelly@aalto.fi+358 41 503 4508


    ad
  • Login