“Seven Foundational Pillars Directly Linked to Entrepreneur Success” Berkeley Geddes, CEO Grow...

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“Seven Foundational Pillars Directly Linked to Entrepreneur Success” Berkeley Geddes, CEO Grow America Ventures January 18 th , 2011

Transcript of “Seven Foundational Pillars Directly Linked to Entrepreneur Success” Berkeley Geddes, CEO Grow...

“Seven Foundational Pillars Directly Linked to Entrepreneur

Success”Berkeley Geddes, CEO Grow America Ventures

January 18th, 2011

Take a Step Back in TimeWe learned the mechanics of math in

elementary school.

In Junior high we were taught about complex equations.

What did we do with complex math equations?

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Lowest Common DenominatorsBusiness Models are similar to complex mathematical

equations

Every Business Model has multiple parts that make up the “total equation”

Each part of the equation needs to be reduced to LCD’s

Each equation has one or more problems to solve

LCD’s help get the equation to a point where you can accurately start predicting results

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Business Models – DooBizz.comEvery good Business Plan presents one or

more business models

The Seven Foundational Pillars related to Entrepreneur success ARE the current LCD’s of the business model for DooBizz.com

Note: In a future presentation we can teach the skills that help an entrepreneur identify one or more business models for a good idea!

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Business Model Development and Great Entrepreneur’s

… [Steve] Jobs is a great entrepreneur for an other reason. Lots of ninnies can give customers products they want.

Jobs gave people products they didn't know they wanted, and then made those products indispensable to their lives…

Nick Schulz, American Entrepreneur Institute, August 25th 2011

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Pillar #1The importance of Good People and Good Ideas

Hans Rosling’s – 200 years in 4 minutes - You TubeHealthy Wealthy Corner:• Country Foundation:1. Fundamental respect for human life2. People were encouraged to self determine – build their own vision for what their life

will be – Government did NOT tell their people what to do.3. People were protected in pursing their dreams4. People enjoyed the majority of the fruits of their labors• People Foundation:1. Fundamental respect for human life2. Faith based3. Family centered4. Hard working

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Important Disciplines – We Certify• Dispute Resolution is Important – Certify Lawyers

• Maintaining Health is Important – Certify Physicians

• Cars on Freeway are Important – Certify Mechanics

As important as Entrepreneurism is; where does society, by education and training certify entrepreneurs?

Interesting, in countries were entrepreneurism is not prevalent, other certifications do NOT exist.

In 2012, the capstone certification of Entrepreneurism is missing!

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Pillar #2Mentor

One of the most important things that can happen for ANY entrepreneur is to link up with an experienced and talented mentor – as soon as possible

Slim Jim – the LDS Trekker

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Pillar #3 – The Optimal Path

and Energy

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Pillar #3 - Continued

and Energy

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Pillar #3 - Continued

and Energy

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Pillar #3 - ConclusionsThe optimal path does exist

There are common elements to the development of every idea

Entrepreneurs MUST be counseled and advised to know how to stay as close to the optimal path as possible

Any deviation off the path consumes precious TIME, MONEY, and ENERGY

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Pillar #4 Each Optimal Path is Unique Priority of variables that make each path unique:1. Sphere of Influence2. Education3. Experience4. Level of Preliminary Funding5. Industry of the Idea – NAICS6. Product or Service or Product and Service7. Country where the idea will be developed8. State or province of idea development

These are some of the top elements of uniqueness

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Pillar #5: Education and Experience Matrix

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Pillar #5 - Continued

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Pillar #5 - Continued

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Pillar #5 - ConclusionExperience can be addressed by bringing a subset of

the right people forward at the right time

There is NO substitute for core things that the entrepreneur MUST understand (education)

Entrepreneurs do not know what they do not know; many of them they think they know it all and this can be a HUGE barrier to success

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Pillar #6 – Entrepreneur Life Cycle

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Pillar #6 - Continued

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Pillar #6 - Continued

Point of Merit

Proven Point

Idea Creation

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Idea Creation

Pillar #6 – Entrepreneur Life Cycle

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Pillar #6 - ConclusionsWhere are you currently in the entrepreneur life cycle?

It is important to understand key elements of this life cycle and where critical “Power Levers” apply

What revenue potential exists under the curve (total revenue generation potential)?

There are several powerful overlays and much more that can be learned from the ELC – (note: future presentation)

How can an entrepreneur reinvent their idea for long term sustainability (skunk works)?

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Pillar #7 Power Levers

Do you remember the science lessons on Leverage?

Three essential things:1. Need the right lever for the right job2. Need to use the right fulcrum3. Need to place the lever and the

fulcrum in the correct position to obtain optimal results

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Pillar #7 Power Levers - ContinuedPriority List of Levers1. Mentor2. Document your idea3. Determine if you have a good idea (50,000 foot view)4. Are you willing to make the sacrifice?5. Merit plan – Preliminary funding plan6. Market Research – Business model development7. Product/Service Development8. Marketing Plan9. Sales Plan10. Accounting11. Legal12. Administration13. Business Operations14. Business Plan15. Launch and Monitor

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83 Power Levers in the DooBizz.com Tree

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DooBizz.com

Is your absolutely FREE High-Power entrepreneur tool!

At doobizz.com entrepreneurs are taught everything that they need to know and need to do to be successful.

Leverage! Use the Power Levers to your advantage!

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Questions?

Berkeley Geddes

[email protected]

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Berkeley Geddes

Phone: 480.570.2021

[email protected]

Thank You

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Many Ask – So how is DooBizz.com going to be able to continue to support entrepreneurs for

FREE and still make money?Great Question:If we have the right business model equation

and LCD’s then we should be able to predict results? Right?

We have identified 54 channels of revenue.

Lets use one of the foundational pillars and show ONE revenue channel.The Bank Overlay

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Banks - Becoming an Agent of “Yes!”

Idea Creation

Point of Merit

Proven Point

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