2. 1. DO YOU HAVE WHAT IT TAKES?
o I CAN
o I WANT
o I CAN, BUT
o I DON’T WANT TO
o I CAN’T
o I DON’T KNOW
|2|
3. 1. DO YOU HAVE WHAT IT TAKES?
► What skills and experiences do you have that are keys to the success of the business you
want to own?
Successful entrepreneurs have skills to sell
► Do you have good social skills? Do you say what you mean? Do you listen well?
Entrepreneurs must be able to sell themselves
► Are your financial and personal situations stable?
Entrepreneurs need to be in good shape financially and emotionally to be able to
concentrate on their new business without crisis in their personal lives
► Are you optimistic?
Entrepreneurs think positively
► Do you have a strong motivation to achieve?
Entrepreneurs are doers
|3|
4. 1. DO YOU HAVE WHAT IT TAKES?
► Are you a hard worker? Do you work hard for others?
Entrepreneurs often work more than 40 hours per week
► Do you have problem-solving skills? Do you enjoy solving problems?
Entrepreneurs are problem solvers
► Are you independent?
Entrepreneurs are leaders
► Are you afraid of making decisions? Do you have a take-charge attitude?
Entrepreneurs make decisions for their businesses
► Do you accept responsibility?
Entrepreneurs accept responsibility for their own businesses
|4|
5. 1.
SESSION
OUTLINE
DO YOU HAVE WHAT IT TAKES?
2.
WHY DO BUSINESSES FAIL?
3.
YOUR BEST BET IS A BUSINESS PLAN
4.
ENTREPRENEURIAL TEAMS & INNOVATION
5.
CREATIVE PROBLEM SOLVING
6.
A FRAMEWORK FOR DECISION MAKING
|5|
6. 2. WHY DO BUSINESSES FAIL?
► One in three new businesses fail within six months.
► Three of four start-ups shut down within five years.
► Nine out of ten companies operating today will eventually fail.
* SOURCE: Gilkerson, Linda D. and Paauwe, Theresia M., Self-Employment, From Dream to Reality, 2nd edition, 2003
|6|
7. 2. WHY DO BUSINESSES FAIL?
COMMON REASONS OF BUSINESS FAILURE
► UNSUITABLE OWNER’S PERSONALITY
► POOR CHOICE OF OPPORTUNITY
► INADEQUATE START-UP CAPITAL
► POOR SELECTION OF LOCATION
► LACK OF KNOWLEDGE ABOUT ATTRACTING TARGETS
► FAILURE TO SEEK PROFESSIONAL ADVICE
► POOR CHOICE OF LEGAL FORM
► INSUFFICIENT EXPERIENCE IN PRODUCT OR SERVICE
► INSUFFICIENT PLANNING AND INVESTIGATION
* SOURCE: Gilkerson, Linda D. and Paauwe, Theresia M., Self-Employment, From Dream to Reality, 2nd edition, 2003
|7|
8. 1.
SESSION
OUTLINE
DO YOU HAVE WHAT IT TAKES?
2.
WHY DO BUSINESSES FAIL?
3.
YOUR BEST BET IS A BUSINESS PLAN
4.
ENTREPRENEURIAL TEAMS & INNOVATION
5.
CREATIVE PROBLEM SOLVING
6.
A FRAMEWORK FOR DECISION MAKING
|8|
9. 3. YOUR BEST BET IS A BUSINESS PLAN
► Myth #1: Business plans are only for start-up companies.
► Myth #2: Business plans should be as detailed and slick as possible.
► Myth #3: Business plans should emphasize ideas and concepts,
not people.
► Myth #4: Business plans should be prepared only by the founding
entrepreneur(s).
► Myth #5: Business plans should be distributed as widely as possible
|9|
10. 3. YOUR BEST BET IS A BUSINESS PLAN
► Myth #6: A business plan should follow a specified format, regardless
of the industry in which the company operates.
► Myth #7: Optimism should prevail over realism.
► Myth #8: A well-written business plan should contain an executive
summary that is written before the full text of the document is
prepared.
► Myth #9: Business plans are written only when a company needs to
raise capital.
► Myth #10: The business plan should showcase the company’s
proprietary products and services.
|10|
11. 1.
SESSION
OUTLINE
DO YOU HAVE WHAT IT TAKES?
2.
WHY DO BUSINESSES FAIL?
3.
YOUR BEST BET IS A BUSINESS PLAN
4.
ENTREPRENEURIAL TEAMS & INNOVATION
5.
CREATIVE PROBLEM SOLVING
6.
A FRAMEWORK FOR DECISION MAKING
|11|
12. 4. ENTREPRENEURIAL TEAMS AND INNOVATION
10 QUALITIES OF SUCCESSFUL
ENTREPRENEURIAL TEAMS
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Balance
Truly shared objectives and core values with a genuine sense of teamwork
Legal agreements in place to protect company and its founders
Communication channels that foster open dialogue, room for disagreement, and methods for resolving conflicts
Accountability and judgment
Egos parked at door
A track record of doing something together successfully before
Integrity, trust, fairness, and respect
Strong, cooperative work ethic
Commitment to long-term success of the company
|12|
13. 1.
SESSION
OUTLINE
DO YOU HAVE WHAT IT TAKES?
2.
WHY DO BUSINESSES FAIL?
3.
YOUR BEST BET IS A BUSINESS PLAN
4.
ENTREPRENEURIAL TEAMS & INNOVATION
5.
CREATIVE PROBLEM SOLVING
6.
A FRAMEWORK FOR DECISION MAKING
|13|
15. 5. CREATIVE PROBLEM SOLVING
GET TO KNOW PROBLEMS
► Problems don’t just go away.
► Problems can create a stink.
► Problems don’t just dry up.
► Problems fester and then they run.
► Problems don’t get lighter the more you pass them around.
► Problems don’t go down easier with a sugar coating.
► Problems don’t just explode!
|15|
16. 5. CREATIVE PROBLEM SOLVING
1. People deny that the problem is significant.
2. People believe that the problem is someone else’s to solve.
3. People spend more time working on the symptoms, creating unnecessary tasks, or
fixing the wrong problem.
4. People don’t recognize that problem solving is the critical function of every job.
5. No one truly understands the link between people, problems, performance.
6. People lack the confidence in their ability to solve problems.
7. People do not feel vested in the process or the outcomes. They don’t know how to
measure their impact.
8. People lack the skills, tools, and access to resources that are needed.
9. People jump to solutions that have worked in the past and misuse time and
resources.
10.Some just do not want to admit they have problems.
|16|
18. 1.
2.
SESSION
OUTLINE
STRATEGIC FOUNDATION
BUSINESS MODEL CANVAS
3.
STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4.
SWOT ANALYSIS & PLANNING
5.
BUSINESS SCOPE PLANNING
6.
A SECOND LOOK AT YOUR BUSINESS IDEA
7.
STRATEGY STATEMENT
|18
|
19. 1.
2.
SESSION
OUTLINE
STRATEGIC FOUNDATION
BUSINESS MODEL CANVAS
3.
STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4.
SWOT ANALYSIS & PLANNING
5.
BUSINESS SCOPE PLANNING
6.
A SECOND LOOK AT YOUR BUSINESS IDEA
7.
STRATEGY STATEMENT
|19
|
21. 1. STRATEGIC FOUNDATION
Brief
1. Mission Statement
An inspirational statement
of the organization purpose
that reflects its beliefs and
values. It simply answers the
core questions: what the
organization purpose is and
what it does.*
Beneficial to all
Stakeholders
Makes
Stakeholders
proud
Express why the
organization
exist
Memorable
10
Mission
Statement
Criteria
Easily
communicated
Implies Future
Improvements
Realistic
Inspires Action
Easily
understood
* LOGIC Management Consulting, Strategic Foundation Guide, 2009.
|21|
22. 1. STRATEGIC FOUNDATION
2. Vision Statement
It is the ultimate destination of the company that all strategies and actions are geared
to reach. It answers the question what is our picture of the future?*
Appeals to Stakeholders
BRIEF
Clear Timeframe
Beneficial to all Stakeholders
Implies
Easily understood
Draw a clear picture of the organization future
REALISTIC
future improvements
inspires action
Memorable
CLEAR FOR DECISIONS
Easily communicated
* LOGIC Management Consulting, Strategic Foundation Guide, 2009.
Ambitious, long-term
|22|
23. 1. STRATEGIC FOUNDATION
3. Core Values
They are the main values that
the organization believes in.
They must support the Vision
and help clarify the Mission.
Core Values can be considered
as the guiding as well as the
limiting factors for the
organization in its route to
achieve its Vision.*
* LOGIC Management Consulting, Strategic Foundation Guide, 2009.
Qualities of the
ideal employee
Differentiation
Factor
CORE VALUES
DRIVERS
Customer
orientation
Nature of the
business
Human value
|23|
24. 1. STRATEGIC FOUNDATION
4.KSFs
• Key success factors KSFs are integral components of a company’s strategic
foundation.
• A key success factor is an element of organizational activity which is central to its
future success and may change over time.
• Based on business analysis, KSFs are defined to best fit business currents with the
purpose of providing strategic guidance.
• In order to be effectively mobilized, a company’s KSFs should range from 3 to 5
factors, in order to allow focused strategy alignment.
• KSFs are assessed according to number of criteria most importantly including*:
1. Fitting business nature
2. Sensitivity to the organization’s life-cycle stage
3. Alignment with business priorities
* John F. Dix and H. Lee Mathews, The Process of Strategic Planning, Ohio State University, 2008
|24|
25. 1.
2.
SESSION
OUTLINE
STRATEGIC FOUNDATION
BUSINESS MODEL CANVAS
3.
STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4.
SWOT ANALYSIS & PLANNING
5.
BUSINESS SCOPE PLANNING
6.
A SECOND LOOK AT YOUR BUSINESS IDEA
7.
STRATEGY STATEMENT
|25|
26. 2. BUSINESS MODEL CANVAS
• A Business models is a systematic and structured strategic tool that describes the rationale of how an
organization creates, delivers, and captures value.
• Business models help organizations remain strategically focused by defining and linking key organizational
drivers within an integrated model canvas.
Business Model Canvas Components
PN
KA
VP
KR
CR
DC
CS
C$
Partner
Network
R$
Revenue
Streams
Key Activities
Cost Structure
Key Resources
Value
Proposition
Customer
Relationship
Customer
Segments
Distribution
Channels
|26|
27. 2. BUSINESS MODEL CANVAS
B U S I N E S S
M O D E L
* Alexander Osterwalder & Yves Pigneur, Business Model Generation, Self Published, 2009.
C A N V A S *
|27|
28. 1.
2.
SESSION
OUTLINE
STRATEGIC FOUNDATION
BUSINESS MODEL CANVAS
3.
STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4.
SWOT ANALYSIS & PLANNING
5.
BUSINESS SCOPE PLANNING
6.
A SECOND LOOK AT YOUR BUSINESS IDEA
7.
STRATEGY STATEMENT
|28|
29. Identify
Analyze
Map
3. STAKEHOLDERS IDENTIFICATION, ANALYSIS, AND MAPPING
B R A I N S T O R M I N G
DIVERGENT PHASE
Listing
Stakeholders
Primary
Subjective
Filtration
Refined list of
identified
stakeholders
to be further
analyzed
CONVERGENT PHASE
* Model developed by PA Consulting, UK
|29|
30. Identify
Analyze
Map
3. STAKEHOLDERS IDENTIFICATION, ANALYSIS, AND MAPPING
S T A K E H O L D E R S
R E G I S T E R *
STAKEHOLDER
CATEGORY
AREA OF
INTEREST
INTEREST
SCORE
AREA OF
INFLUENCE
INFLUENCE
SCORE
THEME
MANAGEMENT
STRATEGY
Stakeholder 1
Stakeholder 2
Stakeholder 3
Stakeholder 4
Stakeholder 5
Stakeholder 6
.
Stakeholder 7
Stakeholder 8
Stakeholder 9
Stakeholder 10
* Template library at www.method123.com
|30|
31. 1.
2.
SESSION
OUTLINE
STRATEGIC FOUNDATION
BUSINESS MODEL CANVAS
3.
STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4.
SWOT ANALYSIS & PLANNING
5.
BUSINESS SCOPE PLANNING
6.
A SECOND LOOK AT YOUR BUSINESS IDEA
7.
STRATEGY STATEMENT
|31|
32. Analyze
Plan
4. SWOT ANALYSIS & PLANNING
• SWOT stands for Strengths,
Weaknesses, Opportunities
and Threats.
• The SWOT Analysis process
includes both an internal
analysis of strengths and
weaknesses and an external
analysis of threats and
opportunities in the
environment.
|32|
35. 1.
2.
SESSION
OUTLINE
STRATEGIC FOUNDATION
BUSINESS MODEL CANVAS
3.
STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4.
SWOT ANALYSIS & PLANNING
5.
BUSINESS SCOPE PLANNING
6.
A SECOND LOOK AT YOUR BUSINESS IDEA
7.
STRATEGY STATEMENT
|35|
