1.
Entrepreneurship & Innovation
Discovering New Business Models | The Entrepreneurial Mindset
04.22.15 | Nashville, TN
Dr. Michael Burcham
michael@michaelburcham.com
www.michaelburcham.com
615.400.7662

2.
87%
Have Gone Out of
Existence
Of the Firms Listed in 1955

3.
The Lifespan of a Successful S&P 500
67
Years
1920’s
15
Years
Today

4.
The Law of Disruption
While
People
Change
Incrementally,
Technology
Improves
EXPONENTIALLY

5.
When an industry faces disruption, companies often fail to
appreciate quickly enough the nature, extent, and velocity
of the changes taking place.
They bring new business models.
They leverage new technologies.
They are highly disruptive.
WHY? Disruptions start at an industry’s edge, among small
companies that provide specialized value to emerging
customer segments

6.
Only
37%
of individuals think their organization is innovative…

7.
Yet
79%
work environments.
would
feel
motivated
by
innovative

8.
THE INNOVATION SEQUENCE

9.
Mobile, Social, Camera, Sensors, Cloud and Data
$36
Trillion
in
stock
market
value
is
up
for
RE-IMAGINATION

10.
vs.
The Entrepreneurial Mindset
Why This Might
Fail
Why This Might
Work

11.
YOU WERE
This doesn’t mean you were born to start companies. In fact, most people
shouldn’t start companies. But the will to create is encoded in human
DNA. And creation is the essence of entrepreneurship.
BORN AN ENTREPRENEUR
Gain a Competitive
Edge!
Grow Your
Business
Unit!
Expand Your
Network!

12.
THE ENTREPRENEURIAL MINDSET
TO GROW — Think Small and Move Fast
The companies that operate in this manner are sure to
emerge as the leaders in the next decade.

13.
CULTIVATING AN
ENTREPRENEURIAL MINDSET
Whether you work for a 10-person company, a giant
multinational corporation, a not-for-profit, government agency
or any type of organization in between
to seize the new opportunities and
meet the challenges of today’s market
we need to think and act like we’re running a startup.

14.
WHY DO WE NEED AN
ENTREPRENEURIAL MINDSET?
!
• We are all making decisions with limited information !
• In a time-compressed and resource limited environment !
• There are no guarantees or safety nets!
• We take on a certain amount of risk!
• Competition is changing !
• The market is changing!
• Product and Service lifecycles are shorter and shorter!
!
!

15.
THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Develop your own
competitive advantage by
combining 3 puzzle pieces:!
!
Your
Assets
Your
Aspira-ons
The
Market
Reali-es
1.

16.
The next “New Thing” happens because we see
in our peripheral vision emerging opportunities
We Can Almost Feel the Change

17.
THE NEXT NEW THING | Begins with a Dream

18.
1.PRODUCT
5. KEY INGREDIENTS
6. PARTNERS
7. ESSENTIAL RECIPE
8. COST MODEL
9. REVENUE MODEL
Whatisit?Whohasonelikeit?
Whynow?Whyme?
2. CUSTOMER
4. INTIMACY
3.DISTRIBUTION
Company Name
Version Number
Date
THE IDEA FRAME | WHAT IF

19.
There are 7 core business model types
from which every business model
is created.
BUSINESS MODELS | 7 CORE TYPES

20.
THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Plan to Adapt. Use the ABZ
method so that you can
adapt based on feedback
and lessons learned.!
2.

21.
THE BUSINESS JOURNEY
THERE’S NO STRAIGHT LINE FROM “A” TO “B”

22.
Most of Companies & Our Strategies
are “off” by 10 Degrees
… so are most of our competitors
Closing the Gap Defines Success

23.
THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Build real, lasting relationships and deploy these into a
powerful professional network built on trust.!
3.

24.
BUILD & MANAGE
YOUR PROFESSIONAL NETWORK
A Successful Leader has to have a broader horizon that goes outside the
business. And the only way you are going to get that broader perspective
is to make sure that you are out there in your networks.
In those networks you pick up information and bring it back into the
business.

25.
THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Develop a method to evaluate options and ideas to
determine the best new products and services for your
organization.!
4.

26.
THE LEAN STARTUP MODEL
HELPING CORPORATIONS BE ENTREPRENEURIAL
The core of this entrepreneurial philosophy is pretty straightforward:
1. Define your idea | plan
2. Market test the concepts and assumptions (hypotheses meet
experiments)
3. Build a Minimum Viable Product (MVP) | Prototype
4. Roll out new features/designs that are responsive to the market
rather than “predictive” of the market
5. Test, test, test
6. Rinse and repeat

27.
LEADERSHIP DECISION MAKING
REQUIRES AN ENTREPRENEURIAL MINDSET

28.
• Competitive advantage is a firm’s ability to outperform its competitors
(earn higher profits).
• Sustained competitive advantage comes from maintaining higher
profits than competitors over long periods of time.
VALUE CREATION
FOR YOUR CUSTOMERS
THE HALO

29.
THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Build your skill as a Leader. Build your own Brand!!
5.

30.
We Become
ü What we Eat | Both body and brain health
ü What we Read | Reading changes brain structure & performance
ü The 5 People | With whom we spend most of our time
Knowing this, I use the following tool to map out my on
personal development plan – to ensure I have an active role in
the person I am becoming…

31.
Personal
Life
My
Well
Being
My
Brand
|
Iden-ty
Network
|People
Skill
|
Knowledge
Experiences
My
Goal:
1st
Qtr
2nd
Qtr
3rd
Qtr
4th
Qtr

32.
Every 3-5 years should bring a period of
introspection | both in my organization as well
as in my personal life.

33.
• WE DO NOT LEAD an organization, department or group;
and your people do not follow strategic plans, fancy goals
or year-end reports | THEY FOLLOW A PERSON
• Often, our understanding id diluted with operational plans,
goal setting, revenue and sales forecasting, cash flow, HR,
compliance and the company’s bottom line.
• How You Influence Others is the Most Important
Part of Leadership
You Are Messing with Peoples’ Lives!

34.
Individuals are hard-wired to belong
To groups and communities
That acknowledge their existence, accept them
And help them define their identity.
Boy
Scouts
or
Gangs,
It’s
all
about
BELONGING

35.
This Present Moment used to
be the Unimaginable Future
Stewart Brand
The Clock of the Long Now

36.
CONTACT INFORMATION
Dr. Michael R. Burcham
c. 615.400.7662
e.
m@ec.co
w.
www.ec.co
t. www.twitter.com/michaelrburcham
l. www.linkedin.com/in/michaelburcham
Handouts Available: www.slideshare.net/michaelburcham