Strategy: An Entrepreneur Point Of View

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Overview of an entrepreneur's approach to strategy and planning. Presented on February 17, 2016, at McGill University by Davender Gupta, Venture Catalyst Plus+11 Entrepreneurial Amplifier http://www.plus11.biz davender@plus11.biz

Business

Strategy:
An Entrepreneur’s POV
Davender Gupta, Venture Catalyst
Plus+11 Entrepreneurial Amplifier
davender@plus11.biz www.plus11.biz 514-448-1894
McGill University – Desautels Faculty of Management
Strategic Management Guest Lecture
February 17, 2016
1

Execution Cycle
Idea
Strategy
Execution
Impact
WHAT
HOW
WHO
HOW MUCH
WHEN
WHAT
Before Plan
After Plan
Feedback
HOW
WHO
HOW MUCH
WHEN
3
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Idea as a Strong Foundation
• People
• Who are the stakeholders of your idea?
• How many stakeholders can you get to contribute to your growth?
• Purpose
• How does your idea resonate with the stakeholders?
• Does your idea have a strong, responsible and compelling purpose?
• Passion
• How does your idea tap into the passion of your stakeholders?
• The ultimate test: would your stakeholders contribute to your growth
…with no expectation of immediate return to themselves?
• Profit
• What is the result that you will create with your idea?
• How will your stakeholders benefit from your idea?
• How can you be rewarded for the impact and results you make?
4
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Strategy is a Guide
•How to execute your Idea
in a way which creates and harvests
value
•NOT to justify a course of action
5
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Strategy Is Discovery
Exploring
What you know
About what
you know
(fact)
About what
you don’t know
(assumptions)
What you don’t
know
About what
you know
(intuition)
About what you
don’t know
(discovery)
6
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Strategy is Hypothesis
The moment you execute
your strategy becomes INVALIDATED
• PESTLE, Porter etc are frameworks to explore
outside of your zone of comfort
• Need to dig down to what you don’t know about
what you don’t know – and what the market
doesn’t know about what the market doesn’t know
7
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

The only strategy
which counts
is the one that
changes the game
in your favour.
8
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Strategy Is Iterative
•Focus on what you can execute now
•Needs to get you into the game
•”Lean Startup”
9
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Strategy Requires Commitment
• Many paths to success
• Committing to one precludes the others
• Choice Matters
• Choosing between equally viable alternative strategic
commitments requires knowledge that can only be
gained through experimentation and learning…
• …yet the process of learning and experimentation
inevitably results in (at least some level) of commitment
that can foreclose alternatives
10
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Strategy Must Be Real
Effectuation.org
11
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

Strategy Must Be Grounded
• Grounded in the mission, vision and values of the
venture
• There is no “right answer” other than that which
honours what you stand for
12
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

13
©2016 Davender Gupta - All Rights Reserved
davender@plus11.biz 514-448-1894
Distribution permitted with attribution

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Strategy: An Entrepreneur Point Of View

1. Strategy: An Entrepreneur’s POV Davender Gupta, Venture Catalyst Plus+11 Entrepreneurial Amplifier davender@plus11.biz www.plus11.biz 514-448-1894 McGill University – Desautels Faculty of Management Strategic Management Guest Lecture February 17, 2016 1

2. Entrepreneur’s View of Business How you create, deliver and harvest value Anita Hart via Flickr https://flic.kr/p/5aSNGi Creative Commons 2 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

3. Execution Cycle Idea Strategy Execution Impact WHAT HOW WHO HOW MUCH WHEN WHAT Before Plan After Plan Feedback HOW WHO HOW MUCH WHEN 3 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

4. Idea as a Strong Foundation • People • Who are the stakeholders of your idea? • How many stakeholders can you get to contribute to your growth? • Purpose • How does your idea resonate with the stakeholders? • Does your idea have a strong, responsible and compelling purpose? • Passion • How does your idea tap into the passion of your stakeholders? • The ultimate test: would your stakeholders contribute to your growth …with no expectation of immediate return to themselves? • Profit • What is the result that you will create with your idea? • How will your stakeholders benefit from your idea? • How can you be rewarded for the impact and results you make? 4 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

5. Strategy is a Guide •How to execute your Idea in a way which creates and harvests value •NOT to justify a course of action 5 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

6. Strategy Is Discovery Exploring What you know About what you know (fact) About what you don’t know (assumptions) What you don’t know About what you know (intuition) About what you don’t know (discovery) 6 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

7. Strategy is Hypothesis The moment you execute your strategy becomes INVALIDATED • PESTLE, Porter etc are frameworks to explore outside of your zone of comfort • Need to dig down to what you don’t know about what you don’t know – and what the market doesn’t know about what the market doesn’t know 7 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

9. Strategy Is Iterative •Focus on what you can execute now •Needs to get you into the game •”Lean Startup” 9 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

10. Strategy Requires Commitment • Many paths to success • Committing to one precludes the others • Choice Matters • Choosing between equally viable alternative strategic commitments requires knowledge that can only be gained through experimentation and learning… • …yet the process of learning and experimentation inevitably results in (at least some level) of commitment that can foreclose alternatives 10 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

12. Strategy Must Be Grounded • Grounded in the mission, vision and values of the venture • There is no “right answer” other than that which honours what you stand for 12 ©2016 Davender Gupta - All Rights Reserved davender@plus11.biz 514-448-1894 Distribution permitted with attribution

Strategy: An Entrepreneur Point Of View

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