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Strategy:AnEntrepreneur’sPOV
DavenderGupta,VentureCatalyst
Plus+11Entrepreneurial Amplifier
[email protected] www.plus11.biz514-448-1894
McGillUniversity– Desautels FacultyofManagement
StrategicManagementGuestLecture
February17,2016
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Entrepreneur’sViewofBusiness
Howyoucreate,deliver andharvest value
Anita HartviaFlickrhttps://flic.kr/p/5aSNGi Creative Commons
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ExecutionCycleIdea
Strategy
Execution
Impact
WHAT
HOWWHO
HOW MUCHWHEN
WHAT
Before Plan
After PlanFeedback
HOWWHO
HOW MUCHWHEN
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IdeaasaStrongFoundation• People
• Whoarethestakeholders ofyouridea?
• Howmanystakeholders canyougettocontributetoyourgrowth?
• Purpose• Howdoesyouridearesonatewiththestakeholders?
• Doesyourideahaveastrong,responsible andcompelling purpose?
• Passion• Howdoesyourideatapintothepassionofyourstakeholders?
• Theultimate test: wouldyourstakeholders contributetoyourgrowth
…withnoexpectation ofimmediate returntothemselves?
• Profit• Whatistheresultthatyouwillcreatewithyouridea?
• Howwillyourstakeholders benefit fromyouridea?
• Howcanyouberewardedfortheimpact andresultsyoumake?
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StrategyisaGuide
•HowtoexecuteyourIdeainawaywhichcreates andharvestsvalue
•NOTtojustifyacourseofaction
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StrategyIsDiscovery
Exploring
Whatyouknow
Aboutwhat
youknow
(fact)
About what
youdon’tknow
(assumptions)
Whatyoudon’t
know
Aboutwhat
youknow
(intuition)
Aboutwhatyou
don’tknow
(discovery)
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StrategyisHypothesis
ThemomentyouexecuteyourstrategybecomesINVALIDATED
• PESTLE,Porteretc areframeworkstoexplore
outsideofyourzoneofcomfort
• Needtodigdowntowhatyoudon’tknowaboutwhatyoudon’tknow– andwhatthemarket
doesn’tknowaboutwhatthemarketdoesn’tknow
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Theonlystrategywhichcountsistheonethat
changesthegameinyourfavour.
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StrategyIsIterative
•Focusonwhatyoucanexecutenow•Needstogetyouintothegame
•”LeanStartup”
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StrategyRequiresCommitment
• Manypathstosuccess
• Committingtooneprecludestheothers
• ChoiceMatters
• Choosingbetweenequallyviablealternativestrategiccommitmentsrequiresknowledgethatcanonlybe
gainedthroughexperimentationandlearning…
• …yettheprocessoflearningandexperimentation
inevitablyresultsin(atleastsomelevel)ofcommitment
thatcanforeclosealternatives
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StrategyMustBeReal
Effectuation.org
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StrategyMustBeGrounded
• Groundedinthemission,visionandvaluesofthe
venture
• Thereisno“rightanswer”otherthanthatwhichhonourswhatyoustandfor
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