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Entrepreneurial Thinking from Makers to Markets
- 1. Entrepreneurial Thinking: From Maker Spaces to Market Places tinyurl.com/usfstavrosresources There is nothing more powerful than an idea whose time has come–Victor Hugo
- 2. Entrepreneurial Thinking for Students 1. Entrepreneur: address unsatisfied customer needs and develop new wants 2. Intrapreneur: explore innovative methods and new technology 3. Designer: find the right business model to launch product
- 5. Entrepreneurship Life can be much broader once you discover one simple fact: Everything around you that you call life was made up by people that were no smarter than you and you can change it, you can influence it, you can build your own things that other people can use. –Steve Jobs
- 11. What are Maker Spaces? https://static1.squarespace.com/static/53b2a0eae4b0ad0f45a1b42f/t/591c78f96a4963872bf5d2b0/1495038228869/MakerspacesPub_v15.pdf Making + Learning Fab LabsMakerspacesTinkering A space for making
- 14. Entrepreneurial Thinking . . . Pain Relievers What can you make smarter or better? • Google made search better. • Amazon simplified online buying and selling. • Netflix solved on-demand streaming media. • Uber is trying to make on- demand car service better. Gain Creators What If . . . • We stopped our print edition and went totally digital, distributing through Apps? • We offered free video calling over the Internet? • Customers could pick up components in boxes and assemble them themselves? (Business Model Generation, p. 121)
- 16. Business Plan vs. Business Model Waterfall Model: All About the Product Hypothesis Testing: All About the Customer Needs http://steveblank.com/category/business-model-versus-business-plan/ Your idea is a series of untested hypotheses
- 18. My Idea:
Hinweis der Redaktion
- Entrepreneurship is often associated with people who assume the risk of starting a business venture for financial gain. However, entrepreneurs exist in many forms: They may be writers, carpenters, computer programmers, school principals or fundraisers, to name just a few examples. What they have in common is an “entrepreneurial mindset” that enables them to see opportunities for improvement, take initiative and collaborate with others to turn their ideas into action.
- Home is a comfortable place, but it can make you complacent and overly reliant on what’s readily available to you. Traveling as a child (and later as a young adult), you come to realize that the world can function in totally different ways. There is not necessarily a “right” or “normal” way to do anything. That is, cars don’t always have to drive on the right side of the road, gas doesn’t always need to be calculated in gallons, food can be made of things you never imagined eating and could be prepared in many ways, and cars don’t all have to look the same. The business world, just like a foreign country you’ve never traveled to, requires that you are comfortable while navigating alone without a map. The earlier you realize there is more than one way to do things, the sooner you’ll break the psychological barriers that keep you from taking on new challenges. If there were a single formula to success, everyone would be successful.
- Everyone comes up with a big idea. 5 minutes. Join in small groups and pitch ideas and decide on one.
- Go through the binder agenda and website.
- Waterfall model used throughout the 20th century to build and ship products. Back then, an entrepreneur used a serial product development process that proceeded step-by-step with little if any customer feedback. Founders assumed they understood customer problems/needs, wrote engineering requirements documents, designed the product, implemented/built the hardware/software, verified that it worked by testing it, and then introduced the product to customers in a formal coming out called first customer ship. Waterfall Development was all about execution of the requirements document. While early versions of the product were shared with customers in Alpha and Beta Testing, the goal of early customer access to the product was to uncover bugs not to provide feedback on features or usability. Hypothesis testing Start With Hypotheses What Build-Measure-Learn misses is that new ventures (both startups and new ideas in existing companies) don’t start with “ideas”, they start with hypotheses (a fancy word for guesses.) It’s important to understand that the words “idea ” and “hypotheses” mean two very different things. For most innovators the word “idea” conjures up an insight that immediately requires a plan to bring it to fruition. In contrast, a hypothesis means we have an educated guess that requires experimentation and data to validate or invalidate. These hypotheses span the gamut from who’s the customer(s), to what’s the value proposition (product/service features), pricing, distribution channel, and demand creation (customer acquisition, activation, retention, etc.) That the Lean Startup begins with acknowledging that your idea is simply a series of untested hypotheses is a big idea. It’s a really big idea because what you build needs to match the hypothesis you want to test. The minimum viable product you’ll need to build to find the right customers is different from the minimum viable product you need for testing pricing, which is different from an MVP you would build to test specific product features. And all of these hypotheses (and minimal viable products) change over time as you learn more. So instead of Build-Measure-Learn, the diagram for building minimal viable products in a Lean Startup looks like Hypotheses – Experiments – Tests – Insights. Only after shipping and attempting to sell the product would a startup hear any substantive feedback from customers. And too often, after months or even years of development, entrepreneurs learned the hard way that customers were not buying their product because they did not need or want most of its features. It often took companies three tries to get products right. Version 1 was built without customer feedback, and before version 1 was complete work had already started on version 2 so it took till version 3 before the customer was really heard (e.g. Microsoft Windows 3.0) https://steveblank.files.wordpress.com/2015/05/waterfall1.jpg?w=270&h=207
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