Strategy: An Entrepreneur Point Of View

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Strategy: An Entrepreneur’s POV Davender Gupta, Venture Catalyst Plus+11 Entrepreneurial Amplifier [email protected] www.plus11.biz 514-448-1894 McGill University – Desautels Faculty of Management Strategic Management Guest Lecture February 17, 2016 1

Transcript of Strategy: An Entrepreneur Point Of View

Page 1: Strategy: An Entrepreneur Point Of View

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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Page 2: Strategy: An Entrepreneur Point Of View

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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