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Supported Employment-Empowerment and Career Development for People with Disabilities
Nicosia – Cyprus
March 20th – 21st, 2014)
Demetris C. [email protected]
SOCIAL ENTREPRENEURSHIP DISABLE INDIVIDUALS’ ENGAGEMENT – SYSTEMIC ENTREPRENEURSHIP
What is (Social) Entrepreneurship
Social entrepreneurship is the process of pursuing suitable solutions to social problems. More specifically, social entrepreneurs adopt a mission to create and sustain social value. They pursue opportunities to serve this mission, while continuously adapting and learning.
Possible Social Problems
Unemployment among youth
Poverty
Civil Unrest
Recession
Closure of large number of SMEs
Unproductive Entrepreneurship
Socially Productive Entrepreneurial Activities
Areas where social entrepreneurship can support employability for disable people and engage them in the market
Eradication of the poverty trap
Health
Education (access, relevance, quality)
Income and wealth (also the distribution thereof)
Shelter (adequate and affordable housing)
Civil society
Human Rights
Security
Sustainability
Family and individual wellbeing
This problem can be solved by pre-school children in five to ten minutes, by programmers in an hour and by people with higher education… well check it yourself!
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Develop a (social) enterprise
Same process as any other form of business
During Ideation the focus should be to address socially sensitive issues
The issues can be addressed Directly or Indirectly
How is it to have an Idea and Start a Business?
What is the journey like?
Brainstorming
Perceptions
Realities
Key Steps
Why is a product/service necessary?
What are the objectives for setting up a Company?
Formulate a basic idea and organize a brainstorming session
Research the needs/opportunities and set up a framework
Map how the company will operate and how it will benefit the stakeholders
Define Business Model and Business Structure
Key Steps
Get support (talk about the idea)
Develop an executive summary and find someone who can help with building initial strategies/basic planning
Identify the resources needed and the resources available
Think about both Operational and Tactical Planning
Key Success Factors
The Planning, Tactical, and Strategic Vision should be globalized
Learn from others’ experiences but…..
There isn’t a One Model Fits All approach
Don’t build a business just for the sake of building one
– Cost/Revenue Planning is Vital
– Don’t do it for non value added reasons
– Have sustainability planning (running out of money is the biggest problem that kills even great ideas)
Key Success Factors
Be honest when setting and communicating expectations
Continual internal evaluation with consideration of external factors
Continual communication with stakeholders
Be willing to pivot
What is Entrepreneurship Drive
It is the ability to identify new ideas, have the determination and the drive to try them out, the willingness to listen and learn, and the character to know when it is time to pivot to a better version…
Characteristics of Entrepreneurship
Innovation
Creativity
Scientific Curiosity
Collaboration
Forward Looking
But Methodology to Success Can differ….
FOOTBALL
One Ball Tool
Same Objective Success
Different Approaches
CAR Paradigm Tires, Body, Engine, Wheel
What is a startup?
Usually it goes like…
Brother…. Whoa…. I have this idea that is Kick Ass…. If we build it everyone is gonna want it …. We made it!
And often seems to end like …..
GOOGLE, YAHOO, FACEBOOK…..
BUT, GUESS WHAT?
The reality is……
Nothing works Run out of money Nobody wants to buy Someone else did it Don’t have more time to work on this So and so on the team doesn’t do his share of work
“
”94 out of 100 die…
STARTUPS ARE REALLY HARD AND THERE IS NO SECRET INGREDIENT THAT WILL HELP YOU TO SUCCEED
A good definition of startup
“A human institution designed to deliver a new product or service under conditions of extreme uncertainty”
Eric Ries
What are some of the Ingredients
VISION
MISSION
Vision
What is it gonna be?
So why we do our thing?
Vision
When Chester Carlson invented a way to make copies of paper docs IBM laughed at him
Then Xerox created copy machines and today “to Xerox” is a verb
Characteristics of a good Vision
Short
Easy to understand
Implemented quite fast (< 2-3 yrs)
Long lasting (decades)
Mission
What we do?
For whom?
Mission
Wang Laboratories
3 Billions in revenue in the 80s
Word processing computers
Failed
Didn’t foresee general purpose computers
Startups
Everything but an exact science
“Don’t worry about failure you only have to be right once”
- Drew Houston
Most Successful entrepreneurs failed on average 6 times before getting some traction
Startup Myths
It Costs nothing to build
Get funded with some nice slides and a lot of passion
It’s all about the idea
Founders are all cool hippie college dropouts
Myth 1Start Ups are cheap
Lean or not, building something meaningful costs money and at some point savings run out
Funding Channels
Personal, Friends, Family
Idea Competitions
In Kind Support
Incubators/Accelerators
Angel Investors
Agency Funding
Angel/Small Investors
Venture Funding
Banks/Other Financial Institutions
Plan well ahead of when you need it, Otherwise you will be killed!
Myth 2“WOW them with your presentation and you’ll get money”
You are already underestimating the number of times you will be rejected and how long it will take you to raise some funds
Myth 3“The idea makes the difference”
Ideas are easy – Implementation is hard
A great idea with: a great execution
a great timing
a great team
great perseverance
Maybe
Myth 4“A startupper is a cool hippie college dropout”
Profile of the average founder:
40yrs old
Married with Children
6-10 yrs work experience
Bachelors or higher
How to make it?
Find your product/market fit before you run out of money
THAT’S IT
Solve a Problem
Start Up is not a linear path
Was everything you think you knew about your product and market wrong?
What if…
RJReynolds
Burned $450.000.000 to develop smokeless cigarettes but...
………. Smokers didn’t give a f**k about smoke … at that time
WebVan
Grocery home delivery Within a 30-min window
Time chosen by the customer but..
Didn’t consider that many working customers would like their groceries delivered at home and at night
They built the wrong capacity for the wrong time
WebVan
Burned $800.000.000
CNET named it the largest dot-com flop in history
Motorola
Burned $5.000.000.000 For satellite-based phone system that nobody wanted
Critical Point
You don’t invent product/service
You solve problems
Setup the right goals
How good/thorough do you know customer’s needs?
Does your product/service solve that need?
How much are they willing to pay for your solution?
How much is this problem a priority to the customer?
Does it solve a significant problem?
Customer Discovery
Who can be the customers?
Target
Profile
Can they afford the product/service?
Can they access it?
Location
Legal
Weather
Go through the process
You’ll get plenty of doubt: Analyze data
It’s all about speed and control
Customer Segments
The People & Organizations targeted by the company
For whom are we creating value?
Who are our most important customers?
Not all customers are created equal
Value proposition
Services and products that provide value to customer segments Product
Satisfies a new need/creates a need Solves a problem Offers better performance Is more customized Costs less Has a better design
KNOW Numbers KNOW Markets WHAT is the Monetization of the Solution Who is the TEAM
Channels
How does company reach customers to tell them about value proposition?
Through which Channels Customer Segments can/want to be reached?
How are Channels integrated?
Which ones work best?
Which ones are most cost-efficient?
How are Channels integrated with customer habits/routines?
Customer Relationships
Types of relationships established between the company and customer segments
What types of relationships does the company have with customers?
Direct or relying on others
Customer facing
Loyalty Schemes
Revenue Streams
Represents the income of the company for every customer segment
For what value are customers willing to pay?
For what value do they currently pay? If they do!
How are they currently paying?
How would they prefer to pay?
How much does each stream contribute to overall revenue?
Key Resources
Strategic assets that the company need to maintain its business model
What Key Resources does the…
Value Propositions require to be delivered?
Distribution Channels?
Customer Relationships?
Revenue Streams?
Resources type: Physical, Intellectual, Human, Financial
Key Activities
Strategic activities to deliver the value proposition, reach customers and nurture relationships
What Key Activities does the
Value Propositions require?
Distribution Channels?
Customer Relationships?
Revenue streams?
Types of Key Activities: Production, Problem Solving, Platform/Network
Key Partners
Define contractors and partners that are supporters/critics for company’s business model
Who are the Key Partners?
Who are the key suppliers?
Which Key Resources is the company acquiring from partners?
Which Key Activities do partners perform?
Cost Structure
What are all the costs required for the company in order to have its business model up and running
What are the most important costs inherent in the business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?
Cash Flow is King
Cost Rationalization? Why this/that Expense? How does it Contribute?
“
” YOUR TURN
Ask yourself
What are the emerging trends I notice?
Am I willing to put the time and effort?
Am I ready for sleepless nights and hardworking days?
Am I willing to Work hard, Learn, Listen, Kill ego?
Do I have the support of people I care about?
What is your personality?
Critical to understand personal traits because certain characteristics fit certain jobs
Extrovert / Introvert
Fighter / Go getter / Quiet
Lerner/Listener/Know it all
Know your strengths and weaknesses
Business Idea
Needs that will be satisfied
Problems to be solved
Who will buy? Customers? Target?
Competitive differentiation
Team
Engineer
Developer
General Business/Finance
Marketing
Lawyer
Leader (could be one of the above)
Interact, Share, Listen, Respect, Embrace, Never Walk Alone
Have a Network
Family
Supporters
Knowledge Transfer
Experience Couriers
Market Experts
Coaches/Mentors
Failure Owners
File contact information
Rationalization
Think Logically and consider the facts
No Feelings or Intuition or Someone told me
Be Creative
Look at the +’s
Ideation
Identify a Group or Problem you want to solve
How does your group behave? Where does it frequent?
Describe the activities of the group
What kind of problems/difficulties could they have?
What are the possible solutions
How are Ideas born?
Are they easy?
Do they just come to us?
Once we have the idea, is it easy to get to the market?
Set the right expectations
It’s about passion, planning, hard work, commitment, the overall environment, the team, the resources, perseverance
Tnx 4
UR Patience!
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