2024.03.23 What do successful readers do - Sandy Millin for PARK.pptx
Entrepreneur
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3. Causal rationality begins with a pre-determined goal & a given set of means & seeks to identify the optimal – fastest, cheapest, most efficient, etc – alternatives to achieve the given goal.
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10. Most often they start very small with the means that are closest at hand and move almost directly into action without elaborate planning.
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12. Eventually, certain of emerging effects coalesce into clearly achievable & desirable goals – landmarks that point to a discernible path beginning to emerge in the wilderness.
13. Traditional management teaches potential entrepreneurship an extremely causal process – the sequential progression from idea to market research, to financial projections, to team, to business planning, to financing, to prototype, to market & of course surprises will happen along the way.
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17. In finding the first customer in near vicinity, whether with in their geographic vicinity, with in their social network or with in their area of professional expertise, entrepreneurs do not tie themselves to any theorized or pre conceived market.
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20. Whereas, an entrepreneur would target key companies & create one to one understanding with them; the challenge then is really to pick the partners & package oneself early before going full steam.
21. In fact, the strategic partnership principle dove-tails very well with the affordable loss principle to bring the entrepreneur’s idea to market at really low cost.
25. Their structure, culture, core competence & endurance are all the result of particular people striving to forge & fulfill particular aspirations through interaction with space, time & technologies they live in.
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27. Causal reasoning is based on the logic – to the extent that we can predict the future, we can control it. This is the reason both academics & practitioners in business spend enormous time, resources & energy on developing predictive models.
28. Effectual reasoning on the other hand is based on logic – to the extent we can control the future, we do not need to predict it.
29. How does one control an unpredictable future? Let’s analyze it – where does future come from? Is it largely the continuation of the past & present?
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32. Experienced professionals in entrepreneurial arena maintain that finding & leading right people is the key to creating an enduring venture.
33. Entrepreneurs know that such right people are not the one in the job market; rather the right people are the one who need emotional ownership in the goals & objectives of the Endeavour.