entrepreneurship, research and innovation - supelec 2014
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3 hours introduction to tech entrepreneurship to Supélec engineering studentsTRANSCRIPT
Journey to the Wonderful World of Startups
Entrepreneurship, Research and Innovation - Supélec 2014
Daniel Jarjoura
112 slides
3 hours
Constant interactions
Q&A at your discretion
Ladies and gentlemen, this is your captain speaking
BS Telecommunications
MS Computer Science
Pre-sales Engineer
Product Manager
Innovation ManagerBusiness Development Director
Entrepreneurship
About me
What about you?
What are your expecta0ons for this course?
Startups?
Net worth: $24 Billioneach
Net worth: $67 Billion
Net worth: $19 Billion
What’s the main common point between these guys
Yes, they’re all technology experts…
…who understood how to be unique in their market…
…and made loads of money!
A bit like this guy
They uncovered the secrets of Marketing to sell their technology
What about France?
Net worth: €6 Billion
$600M
$6.8B
What’s a startup?
3 types of startups
Lifestyle Startups
Work to live their Passion
Serve know customer
with known product
No Exit potential
Small Business Startups
Work to Feed the
family
Serve know customer
with known product
Limited Exit potential
99,9% of French companies
Scalable Startups
Born to be BIG
Solution for unknown customer
with unknown features
Huge Exit potential
Total Available Market > €300M
Typically needs Venture Capital
Growth Potential > €50M
A startup is a temporary organization used to search
for a repeatable and scalable business model
Steve Blank - Author, Entrepreneur
Startups are Not small versions of big companies
Startups Big CompaniesSearch Execute
Metrics Accounting
Customer Validation Sales
Customer Development
Product Management
Agile Development Engineering
Startups SearchCompanies Execute
Entrepreneurship as a Management Science
E-School instead of B-School
The first business school
1819
1908
First MBA1957
First European MBA
2008
> 100,000 MBAs / year
Business as a Management Science
Business Schools TopicsExecution
Accounting
Strategy
Product Management
Engineering
Startups Big CompaniesSearch Execute
Metrics Accounting
Customer Validation Sales
Customer Development
Product Management
Agile Development Engineering
Business Schools Focus on Big Company Strategies
Business Schools Limitations?Most professors consult for large companies
Most believe startups are small versions of big companies
Most B-school entrepreneurship programs are side-shows
1959
1996
2005
2011
> 100 incubators globally
Incubators a Reaction to the lack of Practical University
Entrepreneurship
Startup Incubators
Experience vs. Theory
Goal: create a company and jobs
Curriculum: product development + best practices
What we used to believe
Strategy
What we now know
Strategy
Planning comes before the plan
Business Models
What we used to believe
Process
Concept/ !Seed Round"
Product Dev."
Alpha/Beta Test"
Launch/"1st Ship"
Product Introduction Model
Concept/ !Seed Round"
Product Dev."
Alpha/Beta Test"
Launch/"1st Ship"
Marketing- Create com
materials- Create positioning
- Hire PR agency- Early buzz
- Create demand
- Launch event- Branding
Tradition - Hire Marketing
Tradition - Hire Sales
Concept/ !Seed Round"
Product Dev."
Alpha/Beta Test"
Launch/"1st Ship"
Marketing- Create com
materials- Create positioning
- Hire PR agency- Early buzz
- Create demand
- Launch event- Branding
Sales - Hire Sales VP- Hire first sales staff
- Build Sales organization
Concept/ !Seed Round"
Product Dev."
Alpha/Beta Test"
Launch/"1st Ship"
Marketing- Create com
materials- Create positioning
- Hire PR agency- Early buzz
- Create demand
- Launch event- Branding
Sales - Hire Sales VP- Hire first sales staff
- Build Sales organization
Business Development - Hire first Biz Dev - Do deals
Tradition - Hire Bus Development
Concept/ !Seed Round"
Product Dev."
Alpha/Beta Test"
Launch/"1st Ship"
Marketing- Create com
materials- Create positioning
- Hire PR agency- Early buzz
- Create demand
- Launch event- Branding
Sales - Hire Sales VP- Hire first sales staff
- Build Sales organization
Business Development - Hire first Biz Dev - Do deals
Engineering - Write PRD - Waterfall PD - Testing
Tradition - Hire Engineers
Waterfall Product ManagementExecution on Two “Knowns”
Requirements!
Design!
Implementation!
Verification!
Maintenance!Customer Problem: known
Product Features: known
What we now know
Process
Most startups fail from a lack of customers than from a failure of
product development
Customer Development
Agile Development
+
What we used to believe
Organization
Hire and build a Functional Organization
What we now know
Organization
Startups run a Customer Development Team
No Sales, Business Development or Marketing
Value PropositionsWhat are you building? For who?
Customer SegmentsWho are they? Why would they buy?
Product Market FitDoes the Value Proposition match Customer
Segments?
ChannelsHow does your product get to your customer?
Customer RelationshipsHow do you get, keep and grow customers?
Revenue StreamsHow do you make money?
Key ResourcesWhat are your most important assets?
Key PartnersWho are your partners and suppliers?
Key ActivitiesWhat’s most important for the business?
Cost StructureWhat are the costs and expenses
Realize they are hypotheses
Guess! Guess!
Guess!Guess!
Guess!Guess!
Guess!
Guess!Guess!
The Minimum Viable Product
The Pivot
If you had to remember 3 things
1
You can be an Engineer and Start a Company
2
Startups are not Small Versions of Big Companies
3
There are 21st centurie Methodologies to Develop
Innovation
If you want to go further
Thanks so much for listening and let’s stay in touch!
@Djarjoura
h8p://www.linkedin.com/in/danieljarjoura
www.danieljarjoura.com
slideshare.net/djarjoura