Creative Armenia Business Challenge #CreativeArmenia
Mentor Orientation Session #CreativeArmenia Araksia Martirossian, VP, Entrepreneurial Community Development, GriffinWorx
StartUp Cup Mentor Orientation
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.
Come with me as we explore the most rewarding journey there is... the role of Mentor
You Cannot Tell Entrepreneurs What To Do
What shall we do? Follow These Core Mentoring Principles To Become a Mentor Rock Star!
Share Real World Experience
Use Deep Listening to Uncover True Meaning
Focus on Relationship Building
Give It Away!
Sometimes Entrepreneurs Need
Ask Strategic Questions That Allow the Entrepreneur to Discover the Answers Themself
Encourage Entrepreneurs to Test Their Assumptions (Guesses)
Encourage Entrepreneurs to Secure Customers Quickly
Stop Talking. Start Doing!
Encourage Bootstrapping Techniques
Ask: How LITTLE Money Do You Need? Instead of How MUCH Money Do You Need?
Startup Focus: Repeatable Revenue Profit Comes Down the Road
Take Action Now!
Timeless Mentor Qualities (A Partial Collection)
Inspire & Motivate Entrepreneurs
Have a Heart and Passion for Entrepreneurs
Be Authentic
Care Deeply for the Success of the Entrepreneur
Act As a Facilitator to Guide, Not Control the Process
Don t Get Too Attached to Entrepreneurs
Pass on Positive and Optimistic Energy
Use Visual Thinking Tools VizToolz Improve Mentoring & Facilitation
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
Step I: What is the Value Proposition? How Are You Different? What Need Are You Filling?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
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?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
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?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
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?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
Step V: Action and Testing Stop Talking, Start Doing!
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?
Step V: Action and Testing Stop Talking, Start Doing!
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?
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?
Creative Armenia Business Challenge #CreativeArmenia
The Entrepreneurial Mindset and Visual Thinking Michael McCarthy, Harvard University, Executive Education Program #CreativeArmenia
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
10 Characteristics of the Entrepreneur s Mindset Take the Quiz!
#1 IMPATIENT We Start Now Business Cards URL Networking First Customer Rule
#2 SCARED: We Are Motivated By Fear Fear of Failure/Homelessness Public Declaration
#3 RESOURCEFUL: We See Relationships Sell Garbage Juice Doggie Treats
#4 BORED: We Love Change Let s go to Armenia because it s there Drive to anywhere
#5 DEAF: We Don t Hear No Not this way What would it take you to say Yes?
#6 RESILIENT: We Keep Going Being at the bottom What else is there to do?
#7 RISKY: We Accept Calculated Risk Which is riskier? Sure thing or not sure thing?
#8 AMBITIOUS: We Love Challenge MIT Leadership Sailing HU Reject
#9 LISTENERS: We Listen to Everyone 2 Ears + 1 Mouth Everyone is a teacher
#10 HYPERFOCUSED We Obsess Until Success What you dwell on grows Napolean Hill Think and Grow Rich The Secret
How did you Score?
Want to Score higher? Behave like an Entrepreneur (Fake it until you make it)
Questions?
Visual Thinking
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
Step I: What is the Value Proposition? How Are You Different? What Need Are You Filling?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
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?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
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?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
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?
Utilize the Business Model Scorecard - Self-Guided Visual Thinking Tool Specifically Designed to Accelerate Startup Business Model Design & Building Process
Step V: Action and Testing Stop Talking, Start Doing!
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
Lunch break Business Model Design and Business Building #CreativeArmenia
Business Model Design and Business Building #CreativeArmenia
THANK YOU! challenge@creativearmenia.eu