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Mark Tuttle - Think like an entrepreneur (SW Bratislava)
1. Think like an Entrepreneur
Mark Tuttle
Starupweekend Bratislava
May 11,12,13
Mark.Tuttle@yahoo.com
2. Definition
An entrepreneur is an owner or manager of
a business enterprise who makes money
through risk and initiative. From wikipedia
A startup is a human institution designed to
create a new product or service under
conditions of extreme uncertainty.
From Eric Reis, the Lean Startup
3.
4. 3 kinds of Entrepreneurs
A social entrepreneur is motivated by a
desire to help
A serial entrepreneur is one who
continuously comes up with new ideas and
starts new businesses
A lifestyle entrepreneur places passion
before profit when launching a business in
order to combine personal interests and
talent with the ability to earn a living
5.
6. My Observations about Austrians
• Don’t Take Risks
• Taught not to Fail
• Accept control and regulation to
keep safe and secure
• Avoids unknowns
• Don’t deviate from the norm
• Follow traditional, predictable path
• Don’t talk to strangers
• Don’t integrate work with life…
7. Industrial Economy
Public Education
• Highly specialized role-based (focused learning)
• Education to make competent workers
• Accept things the way they are, be compliant
• Don’t teach self-learning, self-direction
• Pay taxes
• Don’t Revolt
• Behave
• Non-Socratic Method, non focused critical thinking
• Not well rounded
• Don’t Question Authority
• Reduce Creativity and Divergent Thinking
This model works in a stable economy and society
11. An Entrepreneur
looks for Innovation
• Improve something
• Change something
• Make something better
• Create something
• Join things that are unjoined
• Destroy an existing market
• Disintermediates
I was born into it… my dad was a serial entrepreneur
12.
13. What problem does it solve?
With every idea you consider,
…..you must ask……..
If you build it they will NOT come
14. Try and find an idea for a company
where address recognized problem and
not much competition trying to solve it!
And that someone will pay for……
Formula for a startup
19. Innovations
Yahoo – 1994 put together the first
comprehensive directory of Web Sites on
the Internet, strong free email, Yahoo!
Chat
SMS – Simple Message Service, originally
intended to send service messages, not
for consumer
20. Innovations
eBay
aggregate all printed want ads and auction
model into one global market place.
Wikipedia
– 6th largest site on the Internet, crowd sourcing
knowledge. Used by everyone, still resisted
by traditional schools.
21. Innovation
Integration of disconnected
Facebook - you know the story
Apple – putting every thing together,
hardware, operating system, applications,
music, movies, cloud, backup, TV
= more focus user experience
= maximum revenue per customer
22. Innovation
Change Existing Paradigm
Skype – has transformed telecommunications,
the world can talk for free
=3 guys from Estonia, just sold to MS $8.5 billion
Napster – Bit Torrent – alternative sharing
and distribution channel for music and video.
Some estimate 90% of world internet traffic is Bit
Torrent
25. Companies I have co-founded
Web Associates – Founded 1995, one of the
first full service Web Agencies.. Hostile sale 2007 -
$10 million, Sold in 2010 for $40 mil.
Belgem.com – 1st B2B diamond trading platform
Surlin Remote – Offshore dedicated tech teams
