Effectuation Coaching at Heidelberg Innovation Forum 2014
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Effectuation Coaching at Heidelberg Innovation Forum www.heidelberg-innovationforum.eu Alexandra Rudl 8 April 2014
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Presentation to startups of the Heidelberg Innovation Forum on how they can use the four effectuation principles to further develop their ventures.
Transcript of Effectuation Coaching at Heidelberg Innovation Forum 2014
Effectuation Coaching
at Heidelberg Innovation Forum
www.heidelberg-innovationforum.eu
Alexandra Rudl8 April 2014
What makes entrepreneurs entrepreneurial?
Source: therisetothetop.com
Navigate under uncertainty
Causal Logic
Analyse Decide Plan Acquire Ressources Act
The missing toolbox?statisticallylinearpredictablewell-knownassessableprojectableknowledge
dynamic
Not predictable
Not assessable
unknown
incalculable
Source: www.blogs.telerik.com
Causal tools ?
Effectuation – A definition• A logic of thinking, discovered through
scientific research, used by expert entrepreneurs to build successful ventures (Prof. Saras Sarasvathy, University of Virgina)
• Four principles – one process
"If I had a budget, I could ask a specialist in the field of education to go through data and give me ideas ofhow many universities, how many media, how many large companies I will have to contact to have an ideaof the work that has to be done."
vs.
"I'd just go sell it. I don't believe in market research. Somebody once told me the only thingyou need is a customer. Instead of asking all the questions, I'd try and make some sales. I'd learn a lot […] . So my market research would actually be hands-on actual selling."
Causal reasoning Effectual reasoning
Bird in Hand – Start with your means
www.effectuation.org
Causal logic Effectuation logic
Selection / Creation of means in order to reach a specific, pre-defined goal
Discovering potential goals and results based on a given set of means
© Faschingbauer, Mauer (2014)
Affordable Loss – Focus on the downside risk
www.effectuation.org
© Faschingbauer, Mauer (2014)
Causal logic Effectuation logic
The committment depends on the expected earning
Earning
Committment
The committment depends what you can afford to loose at each step
Leverage contingencies
www.effectuation.org
© Faschingbauer, Mauer (2014)
Causal logic Effectuation logic
Demarcation from circumstances and coincidences
Leveraging circumstances and coincidences
http://www.basicthinking.de/blog/wp-content/uploads/2013/02/Post-it1.png
Patchwork Quilt – Form Partnerships
www.effectuation.org
© Faschingbauer, Mauer (2014)
Causal logic Effectuation logic
Searching the „right“ partner
Committments with those who are willing to take part and to contribute
Bird in Hand – Start with your means Affordable Loss – Focus on the downside risk
Leverage contingencies Patchwork Quilt – Form Partnerships
www.effectuation.org
When to apply effectuation?
© Faschingbauer, Mauer (2014)
Existing markets
New Markets
Existing products
New products
http://notes.fundersandfounders.com/image/81999963246
Effectuation in practice: The Instagram Story
Contact
Alexandra RudlHead of Talent Support / Innovation FosteringMFG Innovation Agency for ICT and [email protected]
