An introduction to the world of startups, defining the main terms, and contextualizing the roles of entrepreneurs and intrapreneurs in our society

1. Startup101
Entrepreneurship/Intrapreneurship
Wednesday, May 15, 13

2. THEE.WORD
Entrepreneursareinnovatorswhouseaprocessofshatteringthestatusquooftheexisting
productsandservices,tosetupnewproducts,newservices
Thepursuitofopportunitywithoutregardtoresourcescurrentlycontrolled.
Howard Stevenson
Schumpeter
Wednesday, May 15, 13

3. From 1980–2005, firms less than five years old accounted for all net job growth in the United
States. (Business Dynamics Statistics Briefing: Jobs Created from Business Startups in the
United States, January 2009)
WHYWENEEDTHEM?
Wednesday, May 15, 13

4. RiskAversion
“Wehateloosing” “Wearedelusional”
Overconfidence
-prospecttheory-
Those considered to be entrepreneurs are not inherently greater risk-takers than non-entrepreneurs. And
successful entrepreneurs show no different risk propensities than unsuccessful.
chapter 2, “risk takers and taking risks” Drs William B Gartner and Jian Liao
Rational
2Irrationalforcesinoursociety
CANYOUBEONE?
Wednesday, May 15, 13

5. WHEREDOLARGE
CORPORATIONCOMEFROM?
Birch and Medoff estimate that between 1988 and 1992, 4% of all firms - about 350 000 “gazelles” - generated 60% of all the new jobs in the US”
Wednesday, May 15, 13

6. REVENUE
0
time
EXAMPLE
5 10 15
S&P 500 Lifespan is 15 years on average
Richard Foster / Yale
Wednesday, May 15, 13

7. REVENUE
0
time
EXAMPLE
? 5 10 15
S&P 500 Lifespan is 15 years on average
Richard Foster / Yale
Wednesday, May 15, 13

8. WELCOMETOTHEENTREPRENEURIALJOURNEY
JosephCampbell
The Hero with a Thousand Faces
Wednesday, May 15, 13

9. GeorgeE.P.Box
Essentially,allmodels
arewrong,butsomeare
useful.
DISCLAIMER
Wednesday, May 15, 13

10. INSPIRE
DISCOVER
FOUNDER
STARTUP
SCALE-UP
LEADERS
THE ENTREPRENEUR’S JOURNEY (THE EJ)
Wednesday, May 15, 13

11. 21st CENTURY
ENTREPRENEURSHIP
Wednesday, May 15, 13

12. BEWARETHESTARTUP MYTHS!
Wednesday, May 15, 13

13. FOUNDER
“FOUNDERS ARE INDIVIDUALS WHO CREATE, EXECUTE,
AND INVEST IN IDEAS TO TURN THEM INTO STARTUPS”
Time
Money
Talent
...
Get Shit done
Real things (you can see them)
etc...
From nothing (inventors)
By associating ideas
By complementing existing ideas etc...
-Team Genesis-
*
*
Wednesday, May 15, 13

14. BUSINESSPLANS
AREDEAD
Wednesday, May 15, 13

15. BUSINESS MODEL
ABUSINESSMODELDescribestherationalofHowAn
organizationcreates,deliversandcapturevalues AlexanderOsterwalder
Wednesday, May 15, 13

16. MVPAProductDevelopmentstrategyusedforfastandquantitative
markettestingofaproductorproductfeature
isanapproachforlaunchingbusinessesandproducts,thatreliesonvalidated
learning,scientificexperimentation,anditerativeproductreleasestoshorten
productdevelopmentcycles,measureprogress,andgainvaluablecustomer
feedback
LEAN STARTUP
Wednesday, May 15, 13

17. Individualsandinteractionsoverprocessesandtools
Workingsoftwareovercomprehensivedocumentation
Customercollaborationovercontractnegotiation
Respondingtochangeoverfollowingaplan
AGILE DEVELOPMENT
GOOD BYE PROCESS!
Wednesday, May 15, 13

18. STARTUP
“A startup is an organization
f o r m e d t o s e a r c h f o r a
repeatable and scalable
business model.”
Steve Blank
Wednesday, May 15, 13

19. ACCELERATOR
Accelerators are organizations that provide cohorts of selected
nascent ventures seed-investment, usually in exchange for equity,
and limited-duration educational programming, including
extensive mentorship and structured educational components. These
programs typically culminate in “demo days” where the ventures
makepitchestoanaudienceofqualifiedinvestors.
Wednesday, May 15, 13

20. ACCELERATOR-IMPACT
Wednesday, May 15, 13

21. VC / MICRO VC / BUSINESS ANGEL /
CROWDFOUNDING
Venture capital (VC) has delivered poor returns for more than a decade. VC returns
haven’t significantly outperformed the public market since the late 1990s, and, since
1997, less cash has been returned to investors than has been invested in VC
Only 16 percent of the fastest-growing and most successful
companies in the United States had venture investors. (Right-
Sizing the U.S. Venture Capital Industry, June 2009)
ACCESS TO CAPITAL
Wednesday, May 15, 13

22. STARTUPS AND
FIRMS ARE
DIFFERENT
Wednesday, May 15, 13

23. (FIRMS) (STARTUPS)
PASSION
CO-FOUNDERS/TEAMDEVELOPMENT
CUSTOMERDEV
LEAN/AGILE
STRATEGY
HR
MARKETING/SALES
QUALITYMANAGEMENT
BPR/INNOVATION/R&D... INTRAPRENEURS
BUSINESSPLAN BUSINESSMODELS
Wednesday, May 15, 13

24. Shannon number
10
81
10
123 7 billion people
you will fail a lot!
Atoms in the known universe
ENTREPRENEURSHIP
IFENTREPRENEURSHIP
WASAGAME
Wednesday, May 15, 13

25. fitness function
Your computer
HOW TO PLAY THE ENTREPRENEURIAL GAME?
Wednesday, May 15, 13

26. TEAMS>IDEA
65% of startup (high growth) failures are due to issues within the management team. Not Failed Strategy Not failed technology.
Not failed market acceptance. Team issues. Specifically the founding team. (Noam Wasserman, The Founder’s Dilemmas.
Anticipating and Avoiding the Pitfalls that can Sink a Startup)
Wednesday, May 15, 13

27. constant
Wednesday, May 15, 13

28. Inside entrepreneurs who follow the goal of the organization
INTRAPRENEURSHIP
Wednesday, May 15, 13

29. D. MVT
A. Self Awareness /
BUILD YOUR ASSETS
B. Co-founder
DISCOVERY
C. Co-founder
ACTION-DATING
E. sTARTUP
SERIAL ENTREPRENEUR
- CO-FOUNDER DEVELOPMENT CYCLE -
Wednesday, May 15, 13

30. ENTREPRENEURS:GETOUTSIDEOFTHEBUILDING
INTRAPRENEURS:GETOUTSIDEOFYOURDEPARTMENT
Wednesday, May 15, 13

31. ACTION > THINKING TO EXTAND THE “UNKNOWN - UNKNOWN”
B
C
Business Decision
?
?
KNOWLEDGE
Entrepreneur
Bounded rationality is the idea that in decision-making,
rationality of individuals is limited by the information they have, the
cognitive limitations of their minds, and the finite amount of time
they have to make a decision
Reinhard Selten
Wednesday, May 15, 13

32. @PEIGNOIR
THANKYOU!
Wednesday, May 15, 13

33. @PEIGNOIR
FRANCK@STARTUPWEEKEND.org
THANKYOU!
Wednesday, May 15, 13