Youth Entrepreneurship Summit 2012

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Source: Faltin 2012 Dr. Guenter Faltin Stiftung Entrepreneurship How to develop creative business models
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Prof. Faltin`s presentation at the Schwartzkopf Stiftungin in Berlin

Transcript of Youth Entrepreneurship Summit 2012

  • 1. How to develop creative business models Dr. Guenter Faltin Stiftung Entrepreneurship Source: Faltin 2012
  • 2. Business ist wie Rockn RollBuchtitel von Richard Bransons Autobiographie
  • 3. The essence of entrepreneurship is being different. Marc Casson Source: Faltin 2012
  • 4. From an initial ideato a well developed concept Source: Faltin 2012
  • 5. Founded in 198520 employeesBreak-even from the beginningTurnover in 2011: 9.5 m. EuroOver 200.000 customers93% of them got to know the company by word-of-mouthBiggest mail order tea house in GermanyBiggest importer of darjeeling tea in the world Source: Faltin 2012
  • 6. Simplicityis the ultimate sophistication. Leonardo da Vinci Source: Faltin 2012
  • 7. The Business Model: Function, not convention High-Tech, High-Touch (a virtual office with a personal secretary)As a result, the company has cost savings of 90% Operates more than 5000 offices 350 employees Successful from the start, despite difficult market environment Source: Faltin 2012
  • 8. Criteria for an excellent business model1. Secure a competitive edge2. Have a concept how to deal with imitators (me-too business models)3. Prepare for technological obsolescence4. Prepare for economic obsolescence Source: Faltin 2012
  • 9. The European ParadoxMountains of research findings and patents - but few people making use of it Ejermo and Kander, 2006, Audretsch, 2007 Source: Faltin 2012
  • 10. Success Factors for Start-Ups raw material business model the market businessInventions, developing administration, economicresearch findings, and refining acceptance by successnew technologies, a business customers,new ideas model competition economic failure
  • 11. The Golden Opportunity Emphasize on entrepreneurship!(The production facilities are located in developing countries anyway) Source: Faltin 2012
  • 12. Dont emphasize too much on technology, Look at the market! Glorianna Davenport MIT Media Laboratory Source: Faltin 2012
  • 13. The new paradigms of entrepreneurship 1. idea-based business models 2. focusing on entrepreneurship, not business administration 3. applying modular entrepreneurship Source: Faltin 2012
  • 14. Criteria for a High Potential Entrepreneurial Design Scalability Simplicity Minimize risk experimental pre-start intelligent prototyping Source: Faltin 2012
  • 15. Most entrepreneurs succeed by pursuing ideasthat are not only sound business opportunities but also fit with their personal criteria, desired life style and values Karl H. Vesper Source: Faltin 2012
  • 16. New perspectives of entrepreneurship 1. idea-based business models 2. focus on entrepreneurship, not business administration 3. modular entrepreneurship Source: Faltin 2012
  • 17. Workload Reduction Management Business-to-Business-Marketing Traditional descriptions of Strategisches ManagementRisk management Rechnungswesen 1 Einfhrung requirements Theorieknowledge der Mitarbeiterfhrung und Praxis Public relations Marketing fr Existenzgrnder accounting reading a balance sheet Outsourcingberblick ber das deutsche Unternehmensrecht controlling Einfhrung in Arbeitsrecht Interkulturelles Managem Wie organisiere ich problemsinstitutions negotiating with financial meine Grndung richtig? Steuerliche Probleme die busy-Software. Einfhrung in fr Grnder legal Finanzplanung Research and Development professional experience in the field of the business Welche Steuern muss ich zahlen? Unternehmen und Organisation SWOT-Analyse managingteam spiritmein Unternehmen finan Wie kann ich employees Zielgruppenanalyse Boring People negotiating with suppliers Reduction Management creatingve-Forces-Analysekeeping inventoryund Anreizsysteme Vergtungs- on hand Internationaler Zahlungsverkehr Datensicherungssysteme Mitarbeitermotivation equipment maintenance Frderrichtlinien der deutschen Ausglei Datenbankmanagment marketing skills Businesswith customers communicating Plan Controlling to complaints of supervision str reacting und Qualittssicherung Increase complexity and loss representing the company in the public and media Source: Faltin 2012
  • 18. There are millions of masters of business administration, but only few masters of new concepts. Source: Faltin 2012
  • 19. The art and science of being a modern entrepreneur Awareness for new trends Recognizing new developments - in technology - in competition and market environment Creating new innovative concepts Managing their implementationCreating enthusiasm, curiosity, humor, a sense of joy, optimism in his or her company Source: Faltin 2012
  • 20. New perspectives of entrepreneurship 1. idea-based business models 2. focus on entrepreneurship, not business administration 3. modular entrepreneurship Source: Faltin 2012
  • 21. The Entrepreneur as a composerthe example: RatioDrink Use Business components! Administration Projektwerkstatt GmbH Source: Faltin 2012
  • 22. The old economyThe new, modular-based economy Source: Faltin 2012
  • 23. Entrepreneurship by components Almost no investment Almost no fixed costs There are costs only when sales occurFrom the beginning professional and highly efficient, virtual and global Source: Faltin 2012
  • 24. Do you know how to build an industrial complex? Source: Faltin 2012
  • 25. Auf welche anderen Produkte knnte man das Konzept Teekampagne bertragen? 10 Min. mit dem Nachbarn besprechen Source: Faltin 2012
  • 26. If people understood economics,there would be a revolution by tomorrow. Karl Marx 2011 Henry Ford Henry Ford on based Henry Ford Source: Faltin 2012
  • 27. The development of an innovative entrepreneurial idea is, above all, a creative process. Its engineering is comparable to an artistic creative act. Karl H. Vesper Source: Faltin 2012
  • 28. In the post-industrial age the entrepreneur is more like an artist in a sense that he is open-minded tonew perspectives, avenues and visions. Source: Faltin 2012
  • 29. Making use of the Medici Effect Source: Faltin 2012
  • 30. Trailblazing thinkers and inventors are changing the world bystepping into an idea space where ideas from different culturesand fields meet and collide, ultimately igniting an explosion ofextraordinary new discoveries.The term Medici Effect is referring to the remarkable burst ofcreativity enabled by the Medici banking family in RenaissanceItaly. Frans Johansson, Harvard Business School Press. Source: Faltin 2012
  • 31. We need business modelsbased on post-industrial values Source: Faltin 2012
  • 32. Maslows pyramide of needs Self-actualization Self-esteem Connectedness Safety Basic Needs Source: Faltin 2012
  • 33. Try to get the clarity and powerto understand your own potentials as early in life as possible Source: Faltin 2012
  • 34. Economics of authenticity Source: Faltin 2012
  • 35. Link to the people,avoid the context of commercialization Source: Faltin 2012
  • 36. Just to remind us:Culture is the base of everything Source: Faltin 2012
  • 37. Most entrepreneurs succeed by pursuing ideasthat are not only sound business opportunities but also fit with their personal criteria, desired life style and values Karl H. Vesper Source: Faltin 2012
  • 38. Economics of sympathy Source: Faltin 2012
  • 39. Go for a cause.Make meaning! Guy Kawasaki Source: Faltin 2012
  • 40. Tune in with your society`s values Source: Faltin 2012
  • 41. Economics of attentation Source: Faltin 2012
  • 42. Create something original that stands out, something with a lasting value.Above all, you want to be proud of your product. Such was my business philosophy . Richard Branson Source: Faltin 2012
  • 43. Find ways of attracting attention In modern society the media are the key for attracting attention;paid advertisements are a poor and expensive substitute. Use your personal background, the innovative aspects of your product Play as unconventional, as unorthodox as possible Source: Faltin 2012
  • 44. The message: You can go to the beachwe will take care of your office Source: Faltin 2012
  • 45. The modern entrepreneur has more in common with an artist than with the traditional business manager Source: Faltin 2012
  • 46. The trick is creativity, simplicity and vision. Take a different view of the world. Be curious, learn and free yourself of conventional rules. Source: Faltin 2012
  • 47. We need creative destruction of an economy which is driven by greed, unsustainable use ofresources and exploitation of the weaknesses of people and their sense of inferiority. Source: Faltin 2012
  • 48. Let s allow our ideasto shape a better world Source: Faltin 2012
  • 49. Join the Entrepreneurship Campus Source: Faltin 2012
  • 50. Source: Faltin 2012