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Entrepreneurial Leadership Discovering New Business Models | The Entrepreneurial Mindset 06.15.15 | OGSM Accelerator Dr. Michael Burcham michael@michaelburcham.com www.michaelburcham.com 615.400.7662
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1. Entrepreneurial Leadership Discovering New Business Models | The Entrepreneurial Mindset 06.15.15 | OGSM Accelerator Dr. Michael Burcham michael@michaelburcham.com www.michaelburcham.com 615.400.7662 2. 87% Have Gone Out of Existence Of the Firms Listed in 1955 3. The Lifespan of a Successful S&P 500 67Years 1920s 15Years Today 4. The Law of Disruption While People Change Incrementally, Technology Improves EXPONENTIALLY 5. When an industry faces disruption, companies often fail to appreciate quickly enough the nature, extent, and velocity of the changes taking place. They bring new business models. They leverage new technologies. They are highly disruptive. WHY? Disruptions start at an industrys edge, among small companies that provide specialized value to emerging customer segments 6. Only 37% of individuals think their organization is innovative 7. Yet79% work environments. would feel motivated by innovative 8. THE INNOVATION SEQUENCE 9. Mobile, Social, Camera, Sensors, Cloud and Data $36 Trillion in stock market value is up for RE-IMAGINATION 10. vs. Why This Might Fail Why This Might Work THE ENTREPRENEURIALMINDSET 11. YOU WERE This doesnt mean you were born to start companies. In fact, most people shouldnt start companies. But the will to create is encoded in human DNA. And creation is the essence of entrepreneurship. BORN AN ENTREPRENEUR Gain a Competitive Edge Grow Your Business Unit Expand Your Network 12. THE ENTREPRENEURIALMINDSET TO GROW | Think Small & Move Fast The companies that operate in this manner are sure to emerge as the leaders in the next decade. 13. CULTIVATING AN ENTREPRENEURIALMINDSET Whether you work for a 10-person company, a giant multinational corporation, a not-for-profit, government agency or any type of organization in between to seize the new opportunities and meet the challenges of todays market we need to think and act like were running a startup. 14. WHY DO WE NEED AN ENTREPRENEURIALMINDSET? We are all making decisions with limited information In a time-compressed and resource limited environment There are no guarantees or safety nets We take on a certain amount of risk Competition is changing The market is changing Product and Service lifecycles are shorter and shorter 15. Develop your own competitive advantage by combining 3 puzzle pieces: 1. Your Assets Your Aspirations The Market Realities THE TOOL KIT TO DEVELOP AN ENTREPRENEURIALMINDSET 16. The next New Thing happens because we see in our peripheral vision emerging opportunities We Can Almost Feel The Change 17. THE NEXT NEW THING | BEGINS WITH A DREAM 18. 1.PRODUCT 5. KEY INGREDIENTS 6. PARTNERS 7. ESSENTIAL RECIPE 8. COST MODEL 9. REVENUE MODEL 2. CUSTOMER 4. INTIMACY 3.DISTRIBUTION Company Name Version Number Date THE IDEA FRAME | WHAT IF 19. There are 7 core business model types from which every business model is created. BUSINESS MODELS | 7 CORE TYPES 20. Plan to Adapt. Use the ABZ method so that you can adapt based on feedback and lessons learned. 2. THE TOOL KIT TO DEVELOP AN ENTREPRENEURIALMINDSET 21. THE BUSINESS JOURNEY THERES NO STRAIGHT LINE FROM A TO B 22. Most Companies & Strategies are off by 10 Degrees So are most of the competitors Closing the Gap Defines Success 23. Build real, lasting relationships and deploy these into a powerful professional network built on trust. 3. THE TOOL KIT TO DEVELOP AN ENTREPRENEURIALMINDSET 24. BUILD & MANAGE YOUR PROFESSIONAL NETWORK A Successful Leader has to have a broader horizon that goes outside the business. And the only way you are going to get that broader perspective is to make sure that you are out there in your networks. In those networks you pick up information and bring it back into the business. 25. THE TOOL KIT TO DEVELOP AN ENTREPRENEURIALMINDSET Develop a method to evaluate options and ideas to determine the best new products and services for your organization. 4. 26. LEADERSHIP DECISION MAKING REQUIRES AN ENTREPRENEURIAL MINDSET Napkin Sketch Canvas Business Case Field Test 27. Competitive Advantage | our ability to outperform our competitors: Valuable, Rare, Sustainable, Hard to Imitate. THE HALO VALUE CREATIONFOR OUR CUSTOMERS V = Value to consumer P = Price C = Costs of production C P C = Margin V P = Halo 28. V P = Halo C Raising Prices | Destroys the Halo unless new value to the customer is added in the process. That value must be meaningful to the customer. THE HALO VALUE CREATIONFOR OUR CUSTOMERS V = Value to consumer P = Price C = Costs of production P C = Margin 29. This Present Moment used to be the Unimaginable Future Stewart Brand The Clock of the Long Now 30. CONTACT INFORMATION Dr. Michael R. Burcham c. 615.400.7662 e. michael@michaelburcham.com w. www.michaelburcham.com t. www.twitter.com/michaelrburcham l. www.linkedin.com/in/michaelburcham Handouts Available: www.slideshare.net/michaelburcham