6 Things Every Entrepreneur Must Get Right
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Entrepreneurs must build strong foundations for enterprises the world needs. This presentation covers the principles of foundation design — the process of aligning your vision, team, product, market, business, and culture.
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6 Things Every Entrepreneur Must Get Right
- 1. Chad Kaul, Founder & Principal 6 Things Every Entrepreneur Must Get Right @s19y_ventures http://startupdesignstrategy.com Sta rtu p D e s i g n Strategy Follow me @crkaul
- 2. There are 6 things every entrepreneur must get right. Vison Team Product Market Business Culture Sta rtu p D e s i g n Strategy
- 3. – one – Clearly articulate where you are, where you are going, and why. Get people to believe in the future you’re trying to create. Vison Sta rtu p D e s i g n Strategy
- 4. – two – Recruit the people who can make your vision a reality. Do something no one else can do. Team Sta rtu p D e s i g n Strategy
- 5. – three – Solve the problems preventing your future from arriving. Focus on being better before being cheaper. Product Sta rtu p D e s i g n Strategy
- 6. – four – Create a defensible position in your market with room to grow. Build a moat to protect your business from competitors. Market Sta rtu p D e s i g n Strategy
- 7. – five – Capture more value than you consume creating value. Increase revenue before cutting costs. Business Sta rtu p D e s i g n Strategy
- 8. – six – Cultivate growth in your employees, company, and industry. Invest in developing your vision. Culture Sta rtu p D e s i g n Strategy
- 9. You need to get all 6 right. Vison Team Product Market Business Culture Sta rtu p D e s i g n Strategy
- 10. Sta rtu p D e s i g n Strategy Together they form your startup’s foundation. Culture Team Market ProductBusiness Vision
- 11. Sta rtu p D e s i g n Strategy And your brand ties them all together. Culture Team Market ProductBusiness Vision BRAND
- 12. Sta rtu p D e s i g n Strategy It’s a positive feedback loop. Culture Team Market ProductBusiness Vision
- 13. Sta rtu p D e s i g n Strategy There’s a virtuous cycle. Culture Team Market ProductBusiness Vision
- 14. Sta rtu p D e s i g n Strategy The more clearly you articulate your vision… Culture Team Vision
- 15. Sta rtu p D e s i g n Strategy The stronger your team… Vision Product Team
- 16. Sta rtu p D e s i g n Strategy The better your product… Team Market Product
- 17. Sta rtu p D e s i g n Strategy The bigger your market share… Product Business Market
- 18. Sta rtu p D e s i g n Strategy The more profitable your business… Market Culture Business
- 19. Sta rtu p D e s i g n Strategy The more you can cultivate growth and invest… Business Vision Culture
- 20. Sta rtu p D e s i g n Strategy …in making your vision reality. Culture Team Vision
- 21. Sta rtu p D e s i g n Strategy There’s also an un-virtuous cycle. Culture Team Market ProductBusiness Vison
- 22. Sta rtu p D e s i g n Strategy We start out fighting the un-virtuous cycle. Culture Team Market ProductBusiness Vison
- 23. Sta rtu p D e s i g n Strategy People don’t understand why our startups need to exist. Culture Team Vision
- 24. Sta rtu p D e s i g n Strategy We don’t have the people who can make our vision reality. Vision Product Team
- 25. Sta rtu p D e s i g n Strategy Our product is something people currently live without. Team Market Product
- 26. Sta rtu p D e s i g n Strategy We are irrelevant in our markets. Product Business Market
- 27. Sta rtu p D e s i g n Strategy We don’t produce the cashflow needed to sustain operations. Market Culture Business
- 28. Sta rtu p D e s i g n Strategy Our cultures don’t foster growth toward our vision. Business Vision Culture
- 29. Culture Team Market ProductBusiness Vision Sta rtu p D e s i g n Strategy Entrepreneurs have to turn it all around. Culture Team Market ProductBusiness Vison
- 30. Culture Team Market ProductBusiness Vision Sta rtu p D e s i g n Strategy Turn the un-virtuous cycle into the virtuous cycle. Culture Team Market ProductBusiness Vison
- 31. Culture Team Market ProductBusiness Vision Sta rtu p D e s i g n Strategy This is very hard, but not impossible. Culture Team Market ProductBusiness Vison
- 32. Sta rtu p D e s i g n Strategy The first step is to clarify your vision.
- 33. Sta rtu p D e s i g n Strategy A strong foundation begins with a clear vision.
- 34. Sta rtu p D e s i g n Strategy Align your vision, team, product, market, business, and culture. Culture Team Market ProductBusiness Vision
- 35. Sta rtu p D e s i g n Strategy Minimize your time starting up. Culture Team Market ProductBusiness Vision
- 36. Sta rtu p D e s i g n Strategy Design a strong foundation for an enterprise the world needs. Culture Team Market ProductBusiness Vision
- 37. #FoundationDesign Sta rtu p D e s i g n Strategy Minimize Time Starting Up Can we get other people to see it also? Product People Need Sustainable Business MOdel Culture of Growth Is our team aligned on the vision? Do we understand why we need to exist? What uniquely qualifies us? What skills form the basis of our competitive advantage? Do we have the team to make our vision a reality? Can we deliver a 10x product? What's our go-to- market strategy? Clear Vision The Right Team How should we position the product? Do we create more value than we consume? Strong Market Position How could we create a dominant position in the market? Are those skills represented well on the team? Who do we need? Are we solving a big enough problem? Do our customers really need us? What values will determine how we do business? Have we discovered the real opportunity? How much will we invest in growth? How do we make our progress toward our vision permanent? Is our vision still relevant? How much growth can we foster in our employees, company, industry, and society? Are we operationally efficient? Are we limiting the value we can capture start / repeat
- 38. Sta rtu p D e s i g n Strategy Thank you.
- 39. @crkaul chad@startupdesignstrategy.com Sta rtu p D e s i g n Strategy Please stay in touch.