From Idea to Impact: The Foundations of Entrepreneurship

From Idea to Impact:
The Foundations of
Entrepreneurship
Davender Gupta CD, MS, MBA
ESG1114 Starting A Business In Canada – Winter 2021
©2021 Davender Gupta. All rights reserved. 1

An idea is
not enough
• Tesla was a badass geek
• Prolific late 19th-early 20th century inventor
• Radio, radar, semiconductors,
electric motors, wireless charging
• Lots of patents
• Died penniless
2
If you build it,
they won’t necessarily come…
©2021 Davender Gupta. All rights reserved.

Innovation
3
New idea, process,
service, offer
Makes an impact that
people value

The Heart Of
Business
… is creating a
relationship of trust
between myself and
my client by
exchanging something
of value towards a
win-win result

Business is…
A system that:
• Creates value
• Delivers value
• Captures value
5
MY
Ideas
Passions
Talents
Dreams
Skills
Resources
NO MEANS
ADDED
VALUE
Needs
Desires
Passions
Dreams
OF OTHERS
NO DEMAND NO ENERGY

Types of entrepreneurship
6
Necessity
Entrepreneurship
Need to survive
Create your own job
Growth (or Opportunity)
Entrepreneurship
Vocation
Creates jobs for others

Growth
Entrepreneurship

It’s all about the
IMPACT
Most ideas are too small to support a big impact
8

Where do ideas come from?
9
Personal experience
Experience
“What if?” “What’s next?”
Extrapolation
Observing other people’s situation
Empathy
Imagination, inspiration
Excitement

What is your idea?
• Vision of what you want to do
• The "void" (need) you want to fill
• Are you problem-driven or
solution-driven? (there are
benefits/drawbacks of each
approach)
• What is the WOW in your idea?
10

Finding the WOW
• Does it matter?
• find the emotion
• Does it go to the core issues?
• find the transformation
• What will you learn?
• Whatever the outcome,
if you learn, you win
• Is it prototypable?
• fast evolution cycle
• sell, build, deliver
• Does it create Raving Fans? 11

Why do you want
to do this?
• What are your personal values
and priorities
• How does this idea fit with your
personal life mission
• How do you define "success" for
yourself?
• How does this idea fit with your
personal philosophy and values?
• Why are YOU the right person to
make this happen?
12

Big Hairy Audacious Idea (Hedgehog Principle)
What you are
deeply
passionate about
What you
can be
the best
in the world at
What drives
your
economic
engine
BHAG
Mission, Vision, Values
Maximize Potential Game-Changing Results
“The fox knows many things, but the
hedgehog knows one big thing.”
- Isaiah Berlin

What makes your idea
irresistibly attractive?
14
Purpose Passion
People Profit

Purpose
• What is the impact you are
creating?
• What is the change in
people’s lives because what
you do?
• How is the world a better
place because of what you
do?
• If you were not being paid any
money to do this, would you still
be doing it?
15

Passion
The creative tension between the future you want to create and the present moment
16

People
Stakeholders:
Anyone or anything
touched by your
idea, whether
or not any money
is exchanged
17

Profit
The win-win result, tangible
and intangible, that enables
both parties to live their full
potential.
18

An idea is like a block
of smooth marble,
beautiful to the sight
and to the touch.
However, the purpose
of a block of smooth
marble is to be
broken. Your job is to
chisel away the stuff
that's not relevant in
order to reveal the
true genius within.
- Michaelangelo
19
Your First
Idea Is Just
The Starting
Point

20
Discovering the insight
Discover
What we know
About what we
know (fact)
About what we
don’t know
(hypothesis)
What we don’t
know
About what we
know
(intuition)
About what we
don’t know
(insight)

Can
your
idea
scale?
-
-
-

SCALING
Are you the go-to
leader in your
market?
EFFICIENCY
Are you organized to
deliver your solution
effectively and
profitably?
EXECUTION
MATURITY
VALIDATION Does the market
want your offer?
PRODUCT-
MARKET FIT
DEFINITION
What important
problem do you solve?
PROBLEM-
SOLUTION FIT
IDEA
What is your idea?
IDEA GENERATION
Stages of Growth
22
Davender
Gupta

Find a need that beats your drum.
Create a plan, then make a dent.
Trust that your rewards will come.
And credit them as heaven sent.
- Peter Drucker
23

24
Davender Gupta, MS, MBA
Venture Strategist
linkedin.com/in/coachdavender
slideshare.net/coachdavender
twitter.com/coachdavender
davender@davender.com
+1-514-448-1894

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