Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are...
Transcript of Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are...
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Creative Armenia Business Challenge
#CreativeArmenia
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#CreativeArmenia
Mentor Orientation Session
Araksia Martirossian,VP, Entrepreneurial Community Development,
GriffinWorx
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StartUp Cup MentorOrientation
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Role of MentorBy stepping into the role of Mentor, you are taking on the responsibility of role
model, motivator, advisor, coach, and door-opener, knowing the reward is in
seeing the successes and failures of the entrepreneur you are mentoring.
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Come with me as we explore the most rewarding journey there is. . . the role of Mentor
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You Cannot Tell EntrepreneursWhat To Do
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What shall we do?
Follow These Core Mentoring Principles To Become a Mentor Rock Star!
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Share Real World Experience
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Use Deep Listeningto Uncover True Meaning
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Focus on Relationship Building
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Give It Away!
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Sometimes Entrepreneurs Need
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Ask Strategic QuestionsThat Allow the Entrepreneur to Discover the Answers Themself
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Encourage Entrepreneursto Test Their Assumptions (Guesses)
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Encourage Entrepreneursto Secure Customers Quickly
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Stop Talking. Start Doing!
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Encourage Bootstrapping Techniques
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Ask:How LITTLE Money Do You Need?
Instead of How MUCH Money Do You Need?
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Startup Focus: Repeatable Revenue
Profit Comes Down the Road
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Take Action Now!
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Timeless Mentor Qualities(A Partial Collection)
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Inspire & Motivate Entrepreneurs
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Have a Heart and Passion for Entrepreneurs
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Be Authentic
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Care Deeply for the Successof the Entrepreneur
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Act As a Facilitator to Guide,Not Control the Process
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Don’t Get Too Attached to Entrepreneurs
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Pass on Positive and Optimistic Energy
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Use Visual Thinking Tools | VizToolzImprove Mentoring & Facilitation
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Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
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Step I: What is the Value Proposition?
How Are You Different?
What Need Are You Filling?
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Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
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Step II: Customer Development
Customer
• Who is your target customer?
• Everyone is NOT your customer
• Why will they buy your offering?
Product/Service
• What are you selling?
• Be specific
Market
• How big is your market?
• What is the growth potential?
Vehicle/Channel
• How are you going to get your product
or service to your customer?
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Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
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Step III: Revenue Development
Revenue
• How will you generate revenue?
• How many revenue streams are there?
Expenses
• What will you spend money on?
• Phone, travel, legal, tech, design, etc.
Resources
• What connections can you leverage?
• What resources do you need?
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Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
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Step IV: Team Development
Team
• What talents and skills do you require?
• Legal, designer, developer, marketing?
Promotion
• Get your message and story out
• Internet, events, direct marketing?
Sales
• How are you going to close the deal?
• How will you turn potential into sales?
Funding
• How are you funding your startup?
• Friends, family, fools, credit cards?
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Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
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Step V: Action and TestingStop Talking, Start Doing!
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Step III: Revenue Development
Revenue
• How will you generate revenue?
• How many revenue streams are there?
Expenses
• What will you spend money on?
• Phone, travel, legal, tech, design, etc.
Resources
• What connections can you leverage?
• What resources do you need?
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Step V: Action and TestingStop Talking, Start Doing!
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Step II: Customer Development
Customer
• Who is your target customer?
• Everyone is NOT your customer
• Why will they buy your offering?
Product/Service
• What are you selling?
• Be specific
Market
• How big is your market?
• What is the growth potential?
Vehicle/Channel
• How are you going to get your product
or service to your customer?
![Page 43: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/43.jpg)
Step IV: Team Development
Team
• What talents and skills do you require?
• Legal, designer, developer, marketing?
Promotion
• Get your message and story out
• Internet, events, direct marketing?
Sales
• How are you going to close the deal?
• How will you turn potential into sales?
Funding
• How are you funding your startup?
• Friends, family, fools, credit cards?
![Page 44: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/44.jpg)
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Creative Armenia Business Challenge
#CreativeArmenia
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#CreativeArmenia
The Entrepreneurial Mindset
and Visual Thinking
Michael McCarthy, Harvard University, Executive Education Program
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The Entrepreneurial Mindset
+
Visual Thinking
“Whoever says it cannot be done should
not interrupt those who are doing it.”Confucius
Presented by
Michael McCarthy
Harvard University
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10 Characteristics
of the
Entrepreneur’s
Mindset
Take the Quiz!
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#1 IMPATIENT
We Start Now
Business Cards
URL
Networking
First Customer Rule
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#2 SCARED:
We Are Motivated By Fear
Fear of Failure/Homelessness
Public Declaration
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#3 RESOURCEFUL:
We See Relationships
Sell Garbage
Juice Doggie Treats
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#4 BORED:
We Love Change
Let’s go to Armenia…because it’s there
Drive to anywhere
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#5 DEAF:
We Don’t Hear ‘No’
Not this way
What would it take you to say ‘Yes’?
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#6 RESILIENT:
We Keep Going
Being at the bottom
What else is there to do?
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#7 RISKY:
We Accept Calculated Risk
Which is riskier?
Sure thing or not sure thing?
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#8 AMBITIOUS:
We Love Challenge
MIT Leadership Sailing
HU Reject
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#9 LISTENERS:
We Listen to Everyone
2 Ears + 1 Mouth
Everyone is a teacher
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#10 HYPERFOCUSED
We Obsess Until Success
What you dwell on grows
Napolean Hill ‘Think and Grow Rich
The Secret
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How did you Score?
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Want to Score higher?
Behave like an Entrepreneur
(Fake it until you make it)
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Questions?
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Visual Thinking
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Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
![Page 64: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/64.jpg)
Step I: What is the Value Proposition?
How Are You Different?
What Need Are You Filling?
![Page 65: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/65.jpg)
Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
![Page 66: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/66.jpg)
Step II: Customer Development
Customer
• Who is your target customer?
• Everyone is NOT your customer
• Why will they buy your offering?
Product/Service
• What are you selling?
• Be specific
Market
• How big is your market?
• What is the growth potential?
Vehicle/Channel
• How are you going to get your product
or service to your customer?
![Page 67: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/67.jpg)
Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
![Page 68: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/68.jpg)
Step III: Revenue Development
Revenue
• How will you generate revenue?
• How many revenue streams are there?
Expenses
• What will you spend money on?
• Phone, travel, legal, tech, design, etc.
Resources
• What connections can you leverage?
• What resources do you need?
![Page 69: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/69.jpg)
Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
![Page 70: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/70.jpg)
Step IV: Team Development
Team
• What talents and skills do you require?
• Legal, designer, developer, marketing?
Promotion
• Get your message and story out
• Internet, events, direct marketing?
Sales
• How are you going to close the deal?
• How will you turn potential into sales?
Funding
• How are you funding your startup?
• Friends, family, fools, credit cards?
![Page 71: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/71.jpg)
Utilize the Business Model Scorecard - Self-Guided Visual
Thinking Tool Specifically Designed to Accelerate Startup
Business Model Design & Building Process
![Page 72: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/72.jpg)
Step V: Action and TestingStop Talking, Start Doing!
![Page 73: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/73.jpg)
Let’s Do A Time Check
What do you need before we end?
“Whoever says it cannot be done should
not interrupt those who are doing it.”Confucius
Presented by
Michael McCarthy
Harvard University
![Page 74: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/74.jpg)
#CreativeArmenia
Lunch break
Business Model Design and Business
Building
![Page 75: Creative Armenia Business Challenge · Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener,](https://reader036.fdocuments.us/reader036/viewer/2022070723/5f0202957e708231d40221d3/html5/thumbnails/75.jpg)
#CreativeArmenia
Business Model Design and Business Building