[Tigers@Mekong] Problem Solving, Team Building, and Innovation Strategy

Problem Solving, Team Building, and Innovation Strategy

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Presentation Notes

This presentation is going is going to quickly go over some broad guideline lines for mentoring

Building a Business is NOT Linear

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Presentation Notes

Over the last 10 years we’ve seen more research about startups, especially with lean startups and Steven Blank [please advise to look at his blog]. what we have learned is that building a startup is not linear. An idea is a hypothesis and it needs to be verified in the process. Everything needs to be verified: product-market fit, price, distribution, promotions, revenue and cost models. Everything.

Shikhar Ghosh, senior lecturer at Harvard Business School (2012):-More than 95% of start-ups fail- 2000 companies that received venture funding, 2004-2010- 10 start-ups:

- 3 to 4 completely fail-3 to 4 return original investment-1 to 2 produce substantial returns

Problem Solving

• Vouloir c'est pouvoir

• Art of balancing

• KISS

– Keep It Short & Simple

• CBA

– Cost-Benefit Analysis

• FAN:

– Feasible; Attractive ; Novel

M. Jackson is an inventor

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By filing a patent application for the “Method and Means for Creating Anti-Gravity Illusion,” Michael Jackson let the cat out of the bag. The heel of the shoe is designed to detachably engage a hitch that retractably projects through the stage floor. By anchoring the heel to the floor, the dancer can lean forward and the illusion of defying gravity is achieved. His untimely death has subjected Michael Jackson’s personal choices to debate, but his dedication to creating and protecting his art is unquestionable. http://www.youtube.com/watch?v=TrOzBDdKGY4

3-D Process of Making Innovation

Innovation

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Information and data is coming at the startup founder so quickly that they cannot digest it all. They often don’t know what to focus on or how to start. They have lots of ideas, lots of things they want to do. The business model helps them and you focus on what is important and helps to put things into steps.

Dữ liệu: • Mẫu• Định lượng

Mong muốn

Thông tin: • Luồng thông tin nhanh• Định tính

Kỷ luật 3D

Kiến thức/Kỹ năng

Đánh giá

Dữ liệu

T.tin

Tưởng tượng trước

Lọc thông tin để có những đầu vào hữu ích

Information Process of Entrepreneurial Decision

Napier, N.K. & Vuong, Q.H. (2013). Serendipity as strategic advantage, in T. Wilkinson (ed.) Strategic Management in the 21st Century – Volume 1: The Operational Environment (pp. 175-199). CT: Praeger/ABC-Clio.

entrepreneurship

Weird combinations..

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Presentation Notes

Coin punch + wine press Gutenberg’s printer 1450

Monitoring Entrepreneurial Progress

Objects:- Products

-Resources

- Team

- Clients

- Partners

Domains- Readiness to competition

-Entrepreneurial spirit

- Innovation capability

STATE: T0

Objects:- Products

-Resources

- Team

- Clients

- Partners

Domains- Readiness to competition

-Entrepreneurial spirit

- Innovation capability

STATE: T1 (Future)PROCESS

INPUTS- Capital, Human, Land, Technology- Entrepreneurship & Innovation

Product development

-Sales and Revenue- Differentiation- Trend setting

- New clients-New suppliers and distributorsNew investors

- Team performance- Corporate culture

- Cash balance- Profits- Upstream and downstream connections

OUTPUTS

IMPACTS

SPACE = COMMUNITY, MARKET, ECOSYSTEM

Team/Capacity building

Cash flows & Supply Chain

i2Metrix: Measuring innovation capacity and competitiveness readiness

Genuine entrepreneurs break the rules

1985-86: ASUAG+SSIH

Nicolas Hayek, 1928-2010

Forbes (2010): #232;net worth US$3.9 billion.

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Swiss: handmade, art, expensive >< Japanese: quartz, technology, cheap 1985+1986: fierce competitoin merge of two of Swiss largest watch makers, ASUAG and SSIH.�Hayek was the guy who made them “SWATCH”

Lessons learnt from Illuminate Dance Group: #3 America’s Got Talent Season Sixth

1. Try weird combination

2. Stay focused

3. Have a strategy

4. Be a team

5. Have a strategic vision at

the beginning

[Tigers@Mekong] Problem Solving, Team Building, and Innovation Strategy

Small Business & Entrepreneurship