effective entrepreneurship john caines john caines chinese entrepreneurs global (ce global) chinese...
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Agenda My Story: ‘Where I’m coming from’/Context Unanticipated Connections Lessons from my Executive phase –Lucky Breaks –From Opportunity to Focus –High Probability, Low Cost Entrepreneurship Lessons from my Non Executive phase Q&ATRANSCRIPT
Effective EntrepreneurshipEffective Entrepreneurship
John Caines John Caines
Chinese Entrepreneurs Global (CE Global)Chinese Entrepreneurs Global (CE Global)
24th February 2010, Imperial College, London24th February 2010, Imperial College, London
AimsAims Chinese Entrepreneurs Global (CE Global):Chinese Entrepreneurs Global (CE Global):
– a platform for young Chinese entrepreneurs (or entrepreneurs who a platform for young Chinese entrepreneurs (or entrepreneurs who have a China focus) have a China focus) to share entrepreneurial ideas/information and experience worldwideto share entrepreneurial ideas/information and experience worldwide to promote entrepreneurship within the Chinese community in a global to promote entrepreneurship within the Chinese community in a global
context. context. to maximize the success rate of new business startups to maximize the success rate of new business startups to inspire young, professional Chinese to be entrepreneurialto inspire young, professional Chinese to be entrepreneurial and enterprising.and enterprising.
John Caines:John Caines:– to support the ALL of above by:to support the ALL of above by:
Sharing own experience and ideasSharing own experience and ideas n.b. Not ‘answers’ so: be active listeners n.b. Not ‘answers’ so: be active listeners
– – question, validate, interpretquestion, validate, interpret
AgendaAgenda
My Story:My Story: ‘‘Where I’m coming from’/ContextWhere I’m coming from’/Context Unanticipated ConnectionsUnanticipated Connections
Lessons from my Executive phaseLessons from my Executive phase– Lucky BreaksLucky Breaks– From Opportunity to FocusFrom Opportunity to Focus– High Probability, Low Cost Entrepreneurship High Probability, Low Cost Entrepreneurship
Lessons from my Non Executive phaseLessons from my Non Executive phase Q&AQ&A
John Caines-John Caines-The Official StoryThe Official Story
Unilever, ACMA
London Business School MBA
Westbury Homes CFO
Chaired 8 companies; today: Zeta, Meta Morphose, e2train
Chaired SWAIN
Coach CEO’s + SSE
Angel Investor
Author/Prof1975 2000
JMCA
Minerva
Maxima
Foundations Entrepreneur Portfolio
More about Maxima (l)More about Maxima (l) 1990 1994 1998
MBO Just before purchase of ‘Systems Team’
Maxima
£million £million £million
Revenues 0.5 3.4 40.0
Profit 0.05 0.7 3.2
Staff 8 32 520
Business Units
Minerva UK Minerva: UK;Denmark, Norway, Sweden, Finland;Czech Republic, Slovakia
Systems Team:‘Continuum of Care’ – Community Health, Social Services, Social Housing
More about Maxima (ll)More about Maxima (ll)
Initially Systems Integrators:Initially Systems Integrators:– American core productAmerican core product– Deployed in 40 countriesDeployed in 40 countries
Then added UK Public Sector (Own IPR) businessThen added UK Public Sector (Own IPR) business First external funding (VC): 1997First external funding (VC): 1997 ‘‘Crossing the Chasm*’:Crossing the Chasm*’:
– CustomersCustomers– CompetitorsCompetitors
* Geoffrey Moore
The Real Story:The Real Story:Many bumps on the roadMany bumps on the road
Unilever, ACMA
London Business School MBA
Westbury Homes CFO
Chaired 8 companies; today: Zeta, Meta Morphose, e2train
Chaired SWAIN
Coach CEO’s + SSE
Angel Investor
Author/Prof1975 2000
JMCA
Minerva
Maxima
Foundations Entrepreneur Portfolio
The Real Story: The Real Story: LUCKY BREAKS (l)LUCKY BREAKS (l)
Unilever, ACMA
London Business School MBA
Westbury Homes CFO
Chaired 8 companies; today: Zeta, Meta Morphose, e2train
Chaired SWAIN
Coach MD’s + SSE
Angel Investor
Author/Prof
1975 2000
JMCA
Minerva
Maxima
Foundations Entrepreneur PortfolioHighwaymen FC+GKH
Squash Club+ CVDF+ Westbury
Bank Manager: Cricket
Turnarounds
Lucky Breaks:Lucky Breaks:Improving the OddsImproving the Odds
Unilever, ACMA
London Business School MBA
Westbury Homes CFO
Chaired 8 companies; today: Zeta, Meta Morphose, e2train
Chaired SWAIN
Coach CEO’s + SSE
Angel Investor
Author/Prof
1975 2000
JMCA
Minerva
Maxima
Foundations Entrepreneur Portfolio
Random,Random
Generated,Objective
* e.g. From general IT consultancy into specialist ‘productised’ solution
Importance of ‘Lucky’ Breaks-Importance of ‘Lucky’ Breaks-“I’m not alone”“I’m not alone”
MarComWWWRefersNetwork
MarComWWWRefersNetwork
Year 3
Year 5
e.g. ‘Generalist’ software developer: Sources of Business‘Generalist’ software developer: Sources of Business
From Creating Opportunities to From Creating Opportunities to Focus……Focus……
Focus vs Opportunity – A Key Question?
LESS (Market) is MORE (Effective)LESS (Market) is MORE (Effective)
Chair and Coach MD’s
1975 2000
JMCA
Minerva
Maxima
Entrepreneur Portfolio
Go Vertical?Go Vertical? Narrowest viable market definitionNarrowest viable market definition
– E.G. 21- 100 of top UK fund raising charities;E.G. 21- 100 of top UK fund raising charities;– E.G. Owner managed flow line production food plants in S.E. USA between E.G. Owner managed flow line production food plants in S.E. USA between
$20 and $200 million p.a.$20 and $200 million p.a. Relationship DatabaseRelationship Database
– Progressively learn and record everything about its members (n.b. permanent Progressively learn and record everything about its members (n.b. permanent and temporary attributes)and temporary attributes)
– Don’t sell; ask for information, offer non threatening real value (white papers, Don’t sell; ask for information, offer non threatening real value (white papers, events, performance benchmarks, budget calculators)events, performance benchmarks, budget calculators)
– Communicate regularlyCommunicate regularly Establish your CredentialsEstablish your Credentials as ‘the leading expert’ in ‘xyz’as ‘the leading expert’ in ‘xyz’ for your for your
communitycommunity– Speak, write, surveySpeak, write, survey– Run events where community meetsRun events where community meets
Live in yourLive in your vertical marketvertical market communitycommunity
From sustained vertical marketingFrom sustained vertical marketing
Sell from strong base of Sell from strong base of awareness/awareness/credibilitycredibility/AUTHORITY/AUTHORITY
With confidence from With confidence from knowledge/status/proven applicability knowledge/status/proven applicability
Prepare for a medium term investment; accept early bonuses
The Entrepreneurial Journey*The Entrepreneurial Journey* With deep expertise ....With deep expertise .... Network Network -> Needs-> Needs Opportunities Opportunities (to use Deep Expertise)(to use Deep Expertise)
Innovate ‘Offering’Innovate ‘Offering’
Find that first customerFind that first customer
FOCUS on tightly defined marketFOCUS on tightly defined market Live in that Market -> Authority -> LeadershipLive in that Market -> Authority -> Leadership
Branch out incrementallyBranch out incrementally
*Re: Knowledge based B2B service (not ‘e’ led). Low Investment; Low Risk; Ethical.
The Entrepreneurial Journey*The Entrepreneurial Journey* With deep expertise ....With deep expertise .... Network Network -> Needs-> Needs Opportunities Opportunities (to use Deep Expertise)(to use Deep Expertise)
Innovate ‘Offering’Innovate ‘Offering’
Find that first customerFind that first customer
FOCUS on tightly defined marketFOCUS on tightly defined market Live in that Market -> Authority -> LeadershipLive in that Market -> Authority -> Leadership
Branch out incrementallyBranch out incrementally
*Re: Knowledge based B2B service (not ‘e’ led). Low Investment; Low Risk; Ethical.
Key Lessons from my Portfolio phaseKey Lessons from my Portfolio phase
PerspectivePerspective– Knowing your required outcome, being able to stand outside a situation/your organisation and ‘look back in’Knowing your required outcome, being able to stand outside a situation/your organisation and ‘look back in’
Leadership AND ManagementLeadership AND Management of Others and Self of Others and Self – Personal Qualities/ValuesPersonal Qualities/Values– Techniques/ProcessesTechniques/Processes
Alignment/CommitmentAlignment/Commitment– Cornerstone teamCornerstone team– InternalInternal– ExternalExternal
‘‘Less is more’ Business PlansLess is more’ Business Plans– Wasted effort and counter productivity of overly detailed plans (published vs. input?)Wasted effort and counter productivity of overly detailed plans (published vs. input?)– Plan B (Focus Plan B (Focus vs.vs. Opportunity) Opportunity) – ‘‘On a Page’/Weekly ReportsOn a Page’/Weekly Reports– Maximise Delegation + Freedom of Action/ Avenue of CorrectnessMaximise Delegation + Freedom of Action/ Avenue of Correctness– A ‘Bias for Action’ ;Successful Leaders ACT “as if …….”A ‘Bias for Action’ ;Successful Leaders ACT “as if …….”
The Value of a good Coach/Mentor/ChairmanThe Value of a good Coach/Mentor/Chairman
+ Training in ‘(Relevant) Networking/ ’ Professional sales capability/Negotiating skills+ Training in ‘(Relevant) Networking/ ’ Professional sales capability/Negotiating skills
Chinese Entrepreneurs Global (CE Global),Chinese Entrepreneurs Global (CE Global), 24th February 2010, Imperial College, London24th February 2010, Imperial College, London
Effective EntrepreneurshipEffective Entrepreneurship
THANK YOUTHANK YOU
For further questions and comments:For further questions and comments:John CainesJohn Caines
[email protected] + 44 (0) 7785 253539 + 44 (0) 7785 253539 www.johncaines.com
Chief Alignment Officer?Chief Alignment Officer?
Market
Customers
Suppliers
Technologies
Shareholders
CEO
Alignment?
My World andMy World and YoursYours
*
* For info: www.cotswoldshuttle.com
Professional SellingProfessional Selling
To put yourself in your Buyers’ mind setTo put yourself in your Buyers’ mind set Understanding where they (and you) are in Understanding where they (and you) are in
the processthe process To avoid wasting your time on no hopersTo avoid wasting your time on no hopers To avoid death by non decisionTo avoid death by non decision To know when and how to achieve your fair To know when and how to achieve your fair
share of the value you are providingshare of the value you are providing
c.=Achieving your required outcome without use of formal authority