Source: Faltin 2012

Dr. Guenter FaltinStiftung Entrepreneurship

How to develop creative business models

Business ist wie Rock‘n Roll

Buchtitel von Richard Branson‘s Autobiographie

Source: Faltin 2012

The essence of entrepreneurship

is being different.

Marc Casson

Source: Faltin 2012

From an initial ideato a well developed concept

Source: Faltin 2012

Founded in 198520 employees

Break-even from the beginningTurnover in 2011: 9.5 m. Euro

Over 200.000 customers 93% of them got to know the company by word-of-mouth

Biggest mail order tea house in GermanyBiggest importer of darjeeling tea in the world

Source: Faltin 2012

Simplicity

is the ultimate sophistication.

Leonardo da Vinci

Source: Faltin 2012

The Business Model:

• Function, not convention

• High-Tech, High-Touch (a virtual office with a personal secretary)

As a result, the company has cost savings of 90%

Operates more than 5000 offices350 employees

Successful from the start, despite difficult market environment

www.ebuero.de

Source: Faltin 2012

Criteria for an excellent business model

1. Secure a competitive edge

2. Have a concept how to deal with imitators(“me-too“ business models)

3. Prepare for technological obsolescence

4. Prepare for economic obsolescence

Source: Faltin 2012

The European Paradox

Mountains of research findings and patents

- but few people making use of it

Ejermo and Kander, 2006,Audretsch, 2007

Inventions,research findings, new technologies,new ideas

„raw material“

developing and refininga business model

business model

business administration,acceptance by customers,competition

economicsuccess

economicfailure

the market

Success Factors for Start-Ups

Source: Faltin 2012

The Golden Opportunity

Emphasize on entrepreneurship!

(The production facilities are located in developing countries anyway)

Source: Faltin 2012

Don‘t emphasize too much on technology,

Look at the market!

Glorianna DavenportMIT Media Laboratory

Source: Faltin 2012

The new paradigms of entrepreneurship

1. idea-based business models

2. focusing on entrepreneurship,not business administration

3. applying modular entrepreneurship

Source: Faltin 2012

Criteria for a High Potential Entrepreneurial Design

• Scalability

• Simplicity

• Minimize risk

experimental pre-start

intelligent prototyping

Source: Faltin 2012

Most entrepreneurs succeed

by pursuing ideas

that are not only sound business opportunities

but also fit with

their personal criteria, desired life style

and values

Karl H. Vesper

Source: Faltin 2012

New perspectives of entrepreneurship

1. idea-based business models

2. focus on entrepreneurship,not business administration

3. modular entrepreneurship

Source: Faltin 2012

Welche Steuern muss ich zahlen?Wie kann ich mein Unternehmen finanzieren?

Einführung in die busy-Software.Finanzplanung

Unternehmen und Organisation

Wie organisiere ich meine Gründung richtig?

Marketing für Existenzgründer

Einführung in ArbeitsrechtÜberblick über das deutsche Unternehmensrecht

Theorie und Praxis der Mitarbeiterführung

Steuerliche Probleme für Gründer

Förderrichtlinien der deutschen Ausgleichsbank

Einführung Rechnungswesen 1Strategisches Management

Interkulturelles Management

Zielgruppenanalyse

DatenbankmanagmentControlling und Qualitätssicherung

MitarbeitermotivationVergütungs- und Anreizsysteme

DatensicherungssystemeInternationaler Zahlungsverkehr

Public relations

Workload Reduction ManagementRisk management

Outsourcing

Business-to-Business-Marketing

Research and DevelopmentSWOT-AnalyseBoring People Reduction Management

Increase complexity and loss of supervision strategy

Five-Forces-Analyse

Business Plan

accounting

reading a balance sheet

controlling

negotiating with financial institutions

legal problems

professional experience in the field of the business

managing employees

creating team spirit

negotiating with suppliers

keeping inventory on hand

equipment maintenance

marketing skills

communicating with customers

reacting to complaints

representing the company in the public and media

Traditional descriptions of knowledge requirements

?

Source: Faltin 2012

There are millions of masters of business administration,

but only few masters of new concepts.

Source: Faltin 2012

The art and scienceof being a modern entrepreneur

Awareness for new trends

Recognizing new developments

- in technology

- in competition and market environment

Creating new innovative conceptsManaging their implementation

Creating enthusiasm, curiosity, humor, a sense of joy, optimism in his or her company

Source: Faltin 2012

New perspectives of entrepreneurship

1. idea-based business models

2. focus on entrepreneurship,not business administration

3. modular entrepreneurship

Source: Faltin 2012

Business Administration

Projektwerkstatt GmbH

The Entrepreneur as a composer

the example: RatioDrink

Use components!

Source: Faltin 2012

The old economy

The new, modular-based economy

Source: Faltin 2012

Entrepreneurship by components

Almost no investment

Almost no fixed costs

There are costs only when sales occur

From the beginning professional and highly efficient, virtual and global

Source: Faltin 2012

Do you know how to build an industrial complex?

Source: Faltin 2012

Auf welche anderen Produkte könnte man das Konzept Teekampagne übertragen?

10 Min. mit dem Nachbarn besprechen

Source: Faltin 2012

If people understood economics,

there would be a revolution by tomorrow.

Karl Marx Henry FordHenry Ford 2011based on Henry Ford

Source: Faltin 2012

The development of an innovative entrepreneurial idea is,

above all, a creative process.

Its engineering is comparable to an artistic creative act.

Karl H. Vesper

Source: Faltin 2012

In the post-industrial age

the entrepreneur is more

like an artist –

in a sense that he is open-minded to

new perspectives, avenues and visions.

Source: Faltin 2012

Making use of the Medici Effect

Source: Faltin 2012

Trailblazing thinkers and inventors are changing the world by stepping into an idea space where ideas from different cultures and fields meet and collide, ultimately igniting an explosion of extraordinary new discoveries.

The term „Medici Effect” is referring to the remarkable burst of creativity enabled by the Medici banking family in Renaissance Italy.

Frans Johansson, Harvard Business School Press.

Source: Faltin 2012

We need business models

based on post-industrial values

Source: Faltin 2012

Self-actualization

Self-esteem

Connectedness

Safety

Basic Needs

Maslow‘s pyramide of needs

Source: Faltin 2012

Try to get the clarity and power

to understand your own potentials

as early in life as possible

Source: Faltin 2012

Economics of authenticity

Source: Faltin 2012

Link to the people,

avoid the context of commercialization

Source: Faltin 2012

Just to remind us:

Culture is the base of everything

Source: Faltin 2012

Most entrepreneurs succeedby pursuing ideas

that are not only sound business opportunitiesbut also fit with

their personal criteria, desired life styleand values

Karl H. Vesper

Source: Faltin 2012

Economics of sympathy

Source: Faltin 2012

Go for a cause.

Make meaning!

Guy Kawasaki

Source: Faltin 2012

Tune in with your society`s values

Source: Faltin 2012

Economics of attentation

Source: Faltin 2012

Create something original that stands out,

something with a lasting value.

Above all, you want to be proud of your product.

Such was my business philosophy .

Richard Branson

Source: Faltin 2012

Find ways of attracting attention

In modern society the media are the key for attracting attention;

paid advertisements are a poor and expensive substitute.

Use your personal background, the innovative aspects of your product

Play as unconventional, as unorthodox as possible

Source: Faltin 2012

The message: You can go to the beach

we will take care of your office

Source: Faltin 2012

The modern entrepreneur has more in common with an artist

than with the traditional business manager

Source: Faltin 2012

The trick is creativity, simplicity and vision.

Take a different view of the world.

Be curious, learn and free yourselfof conventional rules.

Source: Faltin 2012

We need „creative destruction“ of an economy which is driven by greed, unsustainable use of

resources and exploitation of the weaknesses of people

and their sense of inferiority.

Source: Faltin 2012

Let‘ s allow our ideasto shape a better world

Source: Faltin 2012

Join the Entrepreneurship Campus

www.entrepreneurship.de

Source: Faltin 2012

www.entrepreneurship.de