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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
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved. 4
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
©2021 Davender Gupta. All rights reserved.
Types of entrepreneurship
6
Necessity
Entrepreneurship
Need to survive
Create your own job
Growth (or Opportunity)
Entrepreneurship
Vocation
Creates jobs for others
©2021 Davender Gupta. All rights reserved.
Growth
Entrepreneurship
©2021 Davender Gupta. All rights reserved.
It’s all about the
IMPACT
Most ideas are too small to support a big impact
8
©2021 Davender Gupta. All rights reserved.
Where do ideas come from?
9
Personal experience
Experience
“What if?” “What’s next?”
Extrapolation
Observing other people’s situation
Empathy
Imagination, inspiration
Excitement
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved. 13
What makes your idea
irresistibly attractive?
14
Purpose Passion
People Profit
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved.
Passion
The creative tension between the future you want to create and the present moment
16
©2021 Davender Gupta. All rights reserved.
People
Stakeholders:
Anyone or anything
touched by your
idea, whether
or not any money
is exchanged
17
©2021 Davender Gupta. All rights reserved.
Profit
The win-win result, tangible
and intangible, that enables
both parties to live their full
potential.
18
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved.
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)
©2021 Davender Gupta. All rights reserved.
Can
your
idea
scale?
-
-
-
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved.
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
©2021 Davender Gupta. All rights reserved.
24
Davender Gupta, MS, MBA
Venture Strategist
linkedin.com/in/coachdavender
slideshare.net/coachdavender
twitter.com/coachdavender
davender@davender.com
+1-514-448-1894
©2021 Davender Gupta. All rights reserved.

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From Idea to Impact: The Foundations of Entrepreneurship

  • 1. 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
  • 2. 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.
  • 3. Innovation 3 New idea, process, service, offer Makes an impact that people value ©2021 Davender Gupta. All rights reserved.
  • 4. 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 ©2021 Davender Gupta. All rights reserved. 4
  • 5. 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 ©2021 Davender Gupta. All rights reserved.
  • 6. Types of entrepreneurship 6 Necessity Entrepreneurship Need to survive Create your own job Growth (or Opportunity) Entrepreneurship Vocation Creates jobs for others ©2021 Davender Gupta. All rights reserved.
  • 8. It’s all about the IMPACT Most ideas are too small to support a big impact 8 ©2021 Davender Gupta. All rights reserved.
  • 9. Where do ideas come from? 9 Personal experience Experience “What if?” “What’s next?” Extrapolation Observing other people’s situation Empathy Imagination, inspiration Excitement ©2021 Davender Gupta. All rights reserved.
  • 10. 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 ©2021 Davender Gupta. All rights reserved.
  • 11. 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 ©2021 Davender Gupta. All rights reserved.
  • 12. 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 ©2021 Davender Gupta. All rights reserved.
  • 13. 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 ©2021 Davender Gupta. All rights reserved. 13
  • 14. What makes your idea irresistibly attractive? 14 Purpose Passion People Profit ©2021 Davender Gupta. All rights reserved.
  • 15. 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 ©2021 Davender Gupta. All rights reserved.
  • 16. Passion The creative tension between the future you want to create and the present moment 16 ©2021 Davender Gupta. All rights reserved.
  • 17. People Stakeholders: Anyone or anything touched by your idea, whether or not any money is exchanged 17 ©2021 Davender Gupta. All rights reserved.
  • 18. Profit The win-win result, tangible and intangible, that enables both parties to live their full potential. 18 ©2021 Davender Gupta. All rights reserved.
  • 19. 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 ©2021 Davender Gupta. All rights reserved.
  • 20. 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) ©2021 Davender Gupta. All rights reserved.
  • 22. 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 ©2021 Davender Gupta. All rights reserved.
  • 23. 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 ©2021 Davender Gupta. All rights reserved.
  • 24. 24 Davender Gupta, MS, MBA Venture Strategist linkedin.com/in/coachdavender slideshare.net/coachdavender twitter.com/coachdavender davender@davender.com +1-514-448-1894 ©2021 Davender Gupta. All rights reserved.