Creative Armenia Business Challenge. #CreativeArmenia

Transcription

1 Creative Armenia Business Challenge #CreativeArmenia

2 Mentor Orientation Session #CreativeArmenia Araksia Martirossian, VP, Entrepreneurial Community Development, GriffinWorx

3 StartUp Cup Mentor Orientation

4 Role of Mentor By stepping into the role of Mentor, you are taking on the responsibility of role model, motivator, advisor, coach, and door-opener, knowing the reward is in seeing the successes and failures of the entrepreneur you are mentoring.

5 Come with me as we explore the most rewarding journey there is... the role of Mentor

6 You Cannot Tell Entrepreneurs What To Do

7 What shall we do? Follow These Core Mentoring Principles To Become a Mentor Rock Star!

8 Share Real World Experience

9 Use Deep Listening to Uncover True Meaning

10 Focus on Relationship Building

11 Give It Away!

12 Sometimes Entrepreneurs Need

13 Ask Strategic Questions That Allow the Entrepreneur to Discover the Answers Themself

14 Encourage Entrepreneurs to Test Their Assumptions (Guesses)

15 Encourage Entrepreneurs to Secure Customers Quickly

16 Stop Talking. Start Doing!

17 Encourage Bootstrapping Techniques

18 Ask: How LITTLE Money Do You Need? Instead of How MUCH Money Do You Need?

19 Startup Focus: Repeatable Revenue Profit Comes Down the Road

20 Take Action Now!

21 Timeless Mentor Qualities (A Partial Collection)

22 Inspire & Motivate Entrepreneurs

23 Have a Heart and Passion for Entrepreneurs

24 Be Authentic

25 Care Deeply for the Success of the Entrepreneur

26 Act As a Facilitator to Guide, Not Control the Process

27 Don t Get Too Attached to Entrepreneurs

28 Pass on Positive and Optimistic Energy

29 Use Visual Thinking Tools VizToolz Improve Mentoring & Facilitation

30 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

31 Step I: What is the Value Proposition? How Are You Different? What Need Are You Filling?

32 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

33 Step II: Customer Development Customer Who is your target customer? Everyone is NOT your customer Why will they buy your offering? Product/Service What are you selling? Be specific Market How big is your market? What is the growth potential? Vehicle/Channel How are you going to get your product or service to your customer?

34 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

35 Step III: Revenue Development Revenue How will you generate revenue? How many revenue streams are there? Expenses What will you spend money on? Phone, travel, legal, tech, design, etc. Resources What connections can you leverage? What resources do you need?

36 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

37 Step IV: Team Development Team What talents and skills do you require? Legal, designer, developer, marketing? Promotion Get your message and story out Internet, events, direct marketing? Sales How are you going to close the deal? How will you turn potential into sales? Funding How are you funding your startup? Friends, family, fools, credit cards?

38 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

39 Step V: Action and Testing Stop Talking, Start Doing!

40 Step III: Revenue Development Revenue How will you generate revenue? How many revenue streams are there? Expenses What will you spend money on? Phone, travel, legal, tech, design, etc. Resources What connections can you leverage? What resources do you need?

41 Step V: Action and Testing Stop Talking, Start Doing!

42 Step II: Customer Development Customer Who is your target customer? Everyone is NOT your customer Why will they buy your offering? Product/Service What are you selling? Be specific Market How big is your market? What is the growth potential? Vehicle/Channel How are you going to get your product or service to your customer?

43 Step IV: Team Development Team What talents and skills do you require? Legal, designer, developer, marketing? Promotion Get your message and story out Internet, events, direct marketing? Sales How are you going to close the deal? How will you turn potential into sales? Funding How are you funding your startup? Friends, family, fools, credit cards?

44

45 Creative Armenia Business Challenge #CreativeArmenia

46 The Entrepreneurial Mindset and Visual Thinking Michael McCarthy, Harvard University, Executive Education Program #CreativeArmenia

47 The Entrepreneurial Mindset + Visual Thinking Whoever says it cannot be done should not interrupt those who are doing it. Confucius Presented by Michael McCarthy Harvard University

48 10 Characteristics of the Entrepreneur s Mindset Take the Quiz!

49 #1 IMPATIENT We Start Now Business Cards URL Networking First Customer Rule

50 #2 SCARED: We Are Motivated By Fear Fear of Failure/Homelessness Public Declaration

51 #3 RESOURCEFUL: We See Relationships Sell Garbage Juice Doggie Treats

52 #4 BORED: We Love Change Let s go to Armenia because it s there Drive to anywhere

53 #5 DEAF: We Don t Hear No Not this way What would it take you to say Yes?

54 #6 RESILIENT: We Keep Going Being at the bottom What else is there to do?

55 #7 RISKY: We Accept Calculated Risk Which is riskier? Sure thing or not sure thing?

56 #8 AMBITIOUS: We Love Challenge MIT Leadership Sailing HU Reject

57 #9 LISTENERS: We Listen to Everyone 2 Ears + 1 Mouth Everyone is a teacher

58 #10 HYPERFOCUSED We Obsess Until Success What you dwell on grows Napolean Hill Think and Grow Rich The Secret

59 How did you Score?

60 Want to Score higher? Behave like an Entrepreneur (Fake it until you make it)

61 Questions?

62 Visual Thinking

63 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

64 Step I: What is the Value Proposition? How Are You Different? What Need Are You Filling?

65 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

66 Step II: Customer Development Customer Who is your target customer? Everyone is NOT your customer Why will they buy your offering? Product/Service What are you selling? Be specific Market How big is your market? What is the growth potential? Vehicle/Channel How are you going to get your product or service to your customer?

67 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

68 Step III: Revenue Development Revenue How will you generate revenue? How many revenue streams are there? Expenses What will you spend money on? Phone, travel, legal, tech, design, etc. Resources What connections can you leverage? What resources do you need?

69 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

70 Step IV: Team Development Team What talents and skills do you require? Legal, designer, developer, marketing? Promotion Get your message and story out Internet, events, direct marketing? Sales How are you going to close the deal? How will you turn potential into sales? Funding How are you funding your startup? Friends, family, fools, credit cards?

71 Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process

72 Step V: Action and Testing Stop Talking, Start Doing!

73 Let s Do A Time Check What do you need before we end? Whoever says it cannot be done should not interrupt those who are doing it. Confucius Presented by Michael McCarthy Harvard University

74 Lunch break Business Model Design and Business Building #CreativeArmenia

75 Business Model Design and Business Building #CreativeArmenia

76 THANK YOU!