9 entrepreneurial leverages (explained)

9 leverages
explained

9 leverages
of a Successful Entrepreneur

Ilkka O. Lavas

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

How would you define

Success?


How would you define

Success?

Success is not a destination

success is a journey


1. Define what Success means to you

Step 1

My definition on Succecss

My definition on success:

1) I can do what I am good at and what I enjoy
2) I feel enough challenge in my projects and businesses.
I can work with the people who are more skilled than I.
3) My family and kids are feeling good
4) I learn new things and develop personally
5) Change the world:
My life can give positive affect to
my fellows, my friends, the City I am living in,
Finland, Europe and World.

Notice:
SUCCESS FOR ME
DOES NOT MEAN MONEY!

Step 2. Think what could be your own
Successful Entrepreneurial leverages

Archimedes once stated:
If I had a lever long enough I could move the world.


3. Learn from the best

Think about your idols:

Whay are their leverages in life?
What are they passionate about?
What are their success factors?


9 leverages of my Successful
Entrepreneurial Life
1. Team Entrepreneurship
2. Digital distribution
3. Digital marketing
4. Team Entrepreurial Partnerships
5. Strategic alliances
6. Searching for long lasting customerships
7. The essence of delegation
8. Multiple companies somehow related to my skills (IT,
business, marketing)
9. I keep myself in good fit mentally and physically. I want
to learn new things all the time.


1st leverage: Team Entrepreneurship

1st leverage: Team Entrepreneurship
• Multiple Academic Studies have noticed and underlined,
that successful growth enterprices are run by team of 3-5
members.
• Networking:
In 2005 I started to discuss with entrepreneurial people
about startups. I have met hundreds entrepreneurs and
asked them to contact me if they have an idea where they
think that I can help with my IT, marketing, business and
Internet skills.
• Business plan analyzing:
I have analyzed more than 20 business plans every year.
Many are crazy, many are too small. Some don’t even have
a proper plan yet, only a idea without calculations. Some of
them I helped. With some of them I have started up a
company.

2nd leverage: Digital distribution
• Most of my companies are on IT field and we can use
digital distribution as a leverage
• I can use Slideshare to tell you these things
• I can distribute dictionary over the web: i.e.
www.mydictionary.pro , this was not possible 20
years ago.
• I can distribute online shopping catalogue in form of
eshop i.e. www.suomikauppa.fi
• Think if you can use digital distribution as a leverage


3rd leverage: Digital marketing
• Buying advertising space in magazines is very
expensive
• Conversion rates from printed magazines to
online are low
• Think how you can use digital marketing as a
leverage


4th leverage:
Team Entrepreurial Partnerships
• Team Entrepreneur Partners in my businesses
constist of:
Business Angels, Professional Directors, Customs
Software professional, Software Hosting professional,
talented Software developers, Internet Marketing
specialists, BIM specialists and professionals,
Financial Geniouses, Watch Enthusiastic
• I have 10-100% ownership of my companies. A total
66 people working in these companies and a total
revenue of 5 Meur.
• Don’t get greedy. Give shares for your partners when
they can give value to the business and help it grow
faster than you could yourself.

5th leverage: Strategic alliances
• Sometimes business partner or contractor can give
your business leverage that will be competitive edge.
• That may be relations, contact, infrastructure or
anything
• You should not compete if you don’t have abilitity to
compete
• Think if there are some strategic alliances that can
help you grow your business faster. One of your
customers maybe?
• Can you transform your contractor to be your sales
channel?

6th leverage: Searching for long
lasting customerships
• You should always look for win-win-win
situations where:
– You win
– Your customer Wins
– Endcustomer Wins
• Only winwinwin customerships will last
forever.
• Sell once and make sure you create value


7th leverage: The essence of delegation
No-one is irreplaceable
• Even you should think yourself as non-irreplaceable.
• Lead and develop your business to survive without you.
• Test: Take 5 week vacation and let your people run your
company. Turn off your telephone and let them develop your
business better than you could ever lead.
• Stop thinking:
– “If I do it myself, it will get done right.”
– “I always know what needs to be done.”
– “I do everything anyway, so I don’t need help.”

• DELEGATE AND TRUST!

8th leverage: Multiple companies
somehow related to my skills (IT, business,
marketing)

• When you have more companies in different business sectors,
some of them are growing when others are not.
• Business portfolio is more stable
• Companies have synergies, one can help each other
• I can help companies to grow faster with my network
• I invest in businesses
– that can find leverage on IT field
– and where I can give knowledge of my IT experience
– and wisdom from my networks
– sweat equity or equity


Business portfolio
1. Lavasdesign Oy – investment, it –consulting, startups and
entrepreneurship

eCommerce,
Internet Customs Internet
W3 Social 3D-Cad /
marketing declaration Spam and portal
Group shopping BIM
and logistics software Virus business
Finland and Cent Software
company company protection es
Oy auction import Ilmainensana
LaKo Trade Oy Samex Solutions Oy company
Suomikauppa.FI Sad-e.fi company company CTRL Service Oy /
kirja.fi
Software WanhatWarikset.co Micro Aided sanakirjani.fi
EMCS stock Hintabingo Oy No Spam Service
projects m Design Oy Kaannos.com
reporting software
Karkkigalleria.fi

Team Entrepreneur Partners in my businesses constist of:
Business Angels, Professional Directors, Customs Software professional, Software Hosting
professional, talented Software developers, Internet Marketing specialists, BIM specialists and
professionals, Financial Geniouses, Watch Enthusiastic
I have 10-100% ownership of my companies. Total 66 people working in these companies and
total revenue 5 Meur.
At least in small markets like Finland, it is better to have many businesses running at the same
time. Businesses can be running on separate companies or in one company depending on
ownership/shareholder structure.

I keep myself in good fit me
and physically. I want to
new things all the

9th lev


Listen to professionals
• Even if you don’t believe
in tv-screen on your
eyeglasses or people
checkin in to your shop
with gps enabled
smartphones. Listen to
futurists and think these
as possibilities to create
new business and new Photo (C) Engadget

value to your customers.

Entrepreneurial Tips and Tricks :

Stay on track, keep your eyes open
Only thing that is sure about the future is that
the future is different.
Even I have heard people saying:
• 1996 ”TeleFax will never die.”
• early 2000 ”I don’t need email”
• 1998 ”Disks will never die”
• 2000 some bosses still said
”I will not need mobile phone.”


When you spend 8 hours doing
something, you should be able enjoy it
• Most important thing in work life is to enjoy
work and your achievements at work itself

good feeling to
• You need to have

go to work every day
• If you don’t like your job or don’t feel good at
the job: QUIT


We need more flow in our work
• Skill level

High
vs
challenge level

Challenge level
Low

Low Skill level High


Things I learned
• The longer I live and the more I study, the
more I learn that I know nothing.
• I can travel to Asia and Australia and Japan. I
can travel to 21 countries, but I still learn new
things even in my neighbourhood.
• I need to network with people who have
experience in different fields than I.
 This leads to team entrepreneurship


Things I learned : I have seen nothing
and I don’t know anything
• ”I have experienced many adventures but the
journey is just in the beginning. I have stories
to tell and I have to say that the world is full of
wonderful things. The more I have travelled
the better I know that I have seen nothing.
The more I am away from Finland, the more I
respect and love Finland.” - Juha Viitala,
owner of travel agency Mandala Travel


”I have seen nothing. The more I travel, the more I love Finland.”, (C) Juha Viitala, Mandala Travel


Entrepreneurial Tips and Tricks:

Prioritization and time management
• Teach yourself all the tips and tricks to
– Prioritize things
– Manage your time
• Discuss with your friends about:
– What time management techniques they are using
• Learn from the best
– Read books, go to seminars, find a mentor


Entrepreneurial Tips and Tricks :

There are always other things to do
• I am member in 7 non-profit organizations, I
have 2 kids, I have 2 motorbikes and I love to
swim, travel and play golf. I need to prioritize!
• We people: have only 24 hours per day, which
means 8760 hours per year.
• Decide what you want to do with your life.
• Prioritize things
• I could work 80 hours per week but I don’t.
See my weekly plan (next slide).


My 168 hours per week
Week schedule

time for my self,
rest

travel to w ork (per
w eek)

w ith kids and family

being w ith friends sleeping

other free time /
sports

active sports

w atching movies

w atching tv

eating

personal
development w ork


Successful Entrepreneur
• Ilkka O. Lavas, Successful Finnish Entrepreneur
www.ilkkaolavas.com
• Twitter (I tweet in english):
http://twitter.com/#!/lavas
• Linkedin:
http://www.linkedin.com/in/ilkkaolavas
• Blog about successful entrepreneurship in finnish:
http://menestyvayrittaja.yrittaja.info/
• My public facebook (mostly in finnish):
http://www.facebook.com/ilkkaolavas
• Subscribe to my public Slideshare:
http://www.slideshare.net/ilkkalavas


9 entrepreneurial leverages (explained)

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