Getting to know the pro-entrepreneurship ecosystem 20th September 2020
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Why it makes sense for both MBAs who are considering starting a business and those who are not even thinking about it. What, Why and How Richard Lucas www.richardlucas.com
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Getting to know the pro-entrepreneurship ecosystem 20th September 2020
- 1. Getting to know the pro- entrepreneurship ecosystem Why it makes sense for both MBAs who are considering starting a business and those who are not even thinking about it. What, Why and How Richard Lucas 20th September 2020 www.richardlucas.com
- 2. Goals of the workshop/comments •What you can gain from knowing the entrepreneurial eco system •Make you aware of • Your opportunities/What you can gain • The risks/What you can lose •Tips and Tricks •Learn from my mistakes •Be useful & answer questions richardlucas.com
- 3. House keeping rules •No bad questions (AMA) •Reasonable confidentiality •Active participation 1, 2, 4 All •JRL Rule richardlucas.com
- 5. Background Started 35 ventures, 14 still trading, had GBP8K in 1991 Invested about No “big” exits. What does “big” mean? About xxx employees My share maybe worth Euro xxxx “2 year” rule 3 times CEO CAMentrepreneurs Judge Business School TEDxKazimierz Open Coffee Enterprise Mondays richardlucas.com
- 9. Why take an interest? What’s in it for for you & your company? Why/How do big companies invest in startups 4 Ts 3 Cs 3 Ps What are barriers to innovation/How does your/any company innovate richardlucas.com
- 10. What you can gain •Career •Financially •Personal development richardlucas.com
- 11. What you can lose •Career….. •Financially •Personal development (opportunity cost) richardlucas.com
- 12. Angel investing •Start doing it richardlucas.com
- 13. Career •Helping your company be successful •Develop your network •Having alternatives (Sagen) •How does your company do it? richardlucas.com
- 14. Personal development •Diversity of experiences •Opportunity mindset/readiness •Curiosity/Radar on richardlucas.com
- 15. •Diversity of experiences •Opportunity mindset/readiness •Curiosity richardlucas.com
- 16. Personal development •Diversity of experiences/Who can you learn from? •Skills, network, inspiration… •Opportunity mindset/readiness •Curiosity/Radar on richardlucas.com
- 17. •Diversity of experiences •Opportunity mindset/readiness •Curiosity richardlucas.com
- 18. Goals of the workshop/comments •Improve your understanding of what you can gain from knowing the entrepreneurial eco system •Make you aware of • Your opportunities/What you can gain • The risks/What you can lose •Tips and Tricks/Learn from my mistakes •Be useful & answer questions richardlucas.com
- 19. Long list of companies • SKK & Unicard Pro Com Studio Dimar Argos PMR ISL Global Image Labs Colab Makarony Sugentum Racinglife Cityrace.me Noren Rombo Games Optima.Dudak Globeshifts Materialination Growth Republic/UK Amber/Hupo Syndicate Room Crowdcube Notatek/Everuptive Estimote Unicard Zalamo LoveKrakow Steamland Aptitude Space Craft Pub • Mistakes and lessons learned richardlucas.com
- 20. SKK Story Business School: Auto ID solutions Mistakes Due Diligence richardlucas.com
- 21. Unicard Story Business School - Plastic Cards Systems integrator Mistake tbd richardlucas.com
- 22. Dimar – outbound b2b telesales Story – saw how good it was for us, thought it would work for others. Hired wife of salesman to start the business Mistakes – competences, only one with money, captive clients richardlucas.com
- 23. ISL Story SKK ->Automated storage and retrieval richardlucas.com
- 24. Argos Multilingual Story World leader in translation/localisation Mistakes richardlucas.com
- 25. PMR Story Market research and consulting Mistakes richardlucas.com
- 26. Cityrace.me Story Startup Pitch. Real world “snake” Mistakes business model, COA, market validation, inexperience richardlucas.com
- 27. Globeshifts Story Startup Community Oil and Gas Recruitment Mistakes Due Diligence richardlucas.com
- 28. Zalamo Story workflow for professional photographers richardlucas.com
- 29. Estimote Story Startup Community – iBeacon leader richardlucas.com
- 30. Everuptive Group Story Startup Community event, recruitment, education, training richardlucas.com
- 31. Materialination 3D printing Story 3D printing startup Mistakes Leadership, timing, “wow” factor richardlucas.com
- 32. Growth Republic Story Growth Hacking Consultancy Mistakes NDA/confidential richardlucas.com
- 33. Chinese Amber sales Story met a Chinese speaker moving to China, brainstormed a business Mistakes It’s hard richardlucas.com
- 36. Global Image Labs – digital retouching and keywording Story – put a salesman + talented executive, put them together. Mistakes – only one with money, client verification, competition, commitment, character.. richardlucas.com
- 37. Rombo Games Story Kickstarter Hybrid Game Mistakes It’s hard to have a hit richardlucas.com
- 38. Steamland Story Steam Punk themed pub Mistakes? Revenue, team, richardlucas.com
- 39. Noren Story High School Alumni, Oil Well Mistakes Fraud, IISTGTBTIPI richardlucas.com
- 40. Racinglife Story –Startup Community event, Motorsports management game Mistakes biz model, COA, market validation, inexperience richardlucas.com
- 41. Sugentum Story –Startup weekend team, e-commerce tool Mistakes biz model, competitive landscape, market validation, inexperience. richardlucas.com
- 42. Colab Story – Seemed like a good idea. Got other community leaders together. Found a “leader” Mistakes mission, biz model, competitive landscape, motivations richardlucas.com
- 43. Lovekrakow.pl Story –friend of a friend, news portal for Kraków richardlucas.com
- 44. Lessons learned from 30 years of Failure Business model Financing Risk Commitment People Leadership Techcrunch/event myth Self Awareness Time Luck Ask the right questions richardlucas.com
- 45. Ask the right questions What problem does it solve? Does it make sense? How is it going to make money? How big is the market? Why is this going to succeed? How driven and committed are the founders? What can possibly go wrong, what happens if it does go wrong? richardlucas.com
- 46. Ask the right questions/2 How will I get my money back? How can I be sure the person I am talking to is not BS-ing me? Can I call a friend What do clients and potential clients say richardlucas.com
- 47. Non business lessons Don’t do things you don’t want to do Money = opportunity/freedom not happiness Develop an approach that works for you The past is over Do do things you do want to do Be constructivity self critical richardlucas.com
- 48. Innovation Why it matters more now than ever before Types of innovation richardlucas.com
- 49. Innovation Products and services Culture Business Model Processes richardlucas.com
- 51. Innovatiive Culture? Good Diverse Creative Positive Success orientated Leadership Action orientated Open minded Collaborative Questionning Bad Fear/Insecure Intolerant of failure Inauthentic Authoritarian /hierachichal Arrogant richardlucas.com
- 53. When Product and Services are innovative – what does it mean? Increased (useful) functionality Better performance Higher value (real or perceived) More expensive? Lower cost? Incorporate new technologies Reduced life time cost of ownership richardlucas.com
- 54. When Business models are innovative – what does it mean? richardlucas.com
- 55. Habits of innovative people Fact checking & Curiousity Ask questions Diversity Change perspectives Stopping to write things down/Self belief - my ideas matter. richardlucas.com
- 56. Getting to know the pro- entrepreneurship ecosystem Why it makes sense for both MBAs who are considering starting a business and those who are not even thinking about it. What, Why and How Richard Lucas 20th September 2020 www.richardlucas.com