Bora Özkent

NEW VENTURE DEVELOPMENT DAY-1

New Venture Development, Bora Özkent 2014

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COURSE INTRODUCTION

Instructor and Training

Bora Özkent

• 1968 Ankara• Education

– 1991 METU, Management– 1997 KU, Executive MBA

• Professional– Arthur Andersen Audit: 1991-1992– Arthur Andersen Business Consulting: 1992-1998– ATK Tekstil-Director of Strategic Planning: 1998-2000– BTK Tekstil-Owner: 2000-2002– Long Vacation: 2002-2003– Fed Training-CEO, Partner and Chief Trainer: 2003-2008– Özkent & Taysever-Owner: 2008-Today

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Bora Özkent

• Özkent & Taysever (www.ozkentvetaysever.com)– Innovation– Customer Experience Management - Partnership with Strativity– Entrepreneurship – Partnership with Startup Company– General Management Training Programs

• I am an Active Blogger– www.boraozkent.com (Innovation, customer experience,

management and whatever I like)– www.girisimcilerokulu.com (Entrepreneurship)

• In Social Media– Twitter: boraozkent and girisimciokulu– Facebook: ozkentvetaysever and girisimcilerokulu– Linkedin: bora özkent– about.me/boraozkent

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My Books

E-book /Mobidik

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My Books

WEB: girisimcilerokulu.comFACEBOOK: facebook.com/girisimcilerokuluTWITTER: twitter@girisimciokulu

boraozkent.com

“I Entrepreneur”

• College– Trading Levis Jeans from black market to the campus– Free-lance tourist guiding – not totally legal!

• Intrapreneurship– Arthur Andersen Business Consulting:

• Participated in building Turkey’s largest consulting company• Established the retail consulting practice from scratch

– ATK Tekstil: • Assisted to a financially distressed company during the turnaround• Participated in establishing GAAT International, a totally fresh idea

in B2B– Fed Training:

• Co-Established the innovation practice with Professor Arman Kırım• Turned around the firm from 500 K to 3 M (Dollars)

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“I Entrepreneur”

• First Real Entrepreneurial Attempt– Innovative retail idea– Total execution disaster– Went bankrupt

• Özkent & Taysever– 1 M US Dollars average revenue– Profitable, traditional business model with extremely low

cost structure– Life style entrepreneurship – care more for vacations– No growth intention

• New Venture Ideas for 2015-2016– Turning blogging into a business

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Who Wants to be an Entrepreneur

• Entrepreneurial experience?

• Entrepreneurial intention?

• Biggest expectancy from the course? (If any)

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Course Plan

• Confession: I am still a rookie college instructor (Fifth run)

• This a rookie’s plan, so yes it may change

• But something are for sure– Our text book – and we will use it a

lot (Running Lean / Ash Maurya)– You are going to design an

innovative business model and prepare a business plan

– You are going to do a lot of field work and go to the streets

– And the quality of the final business plan is the single most important determinant of your course grade

Course Plan

• My aim is to make you entrepreneurs (or intrapreneurs)• We will focus on innovative entrepreneurship ideas -

startups• I will try to provide with simple tools, methodologies (what

really works)• The base methodology we will follow is Lean Startup• I have special interest in:

– Creativity and Innovation– Lean Startup Methodology

• I highly appreciate in class participation and thorough preparation

• I also appreciate following my blogs/social media accounts and of course reading my books

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Course Plan

1-2-3

Lessons…

3-4-5-6 7-8-9-10 11-12

Problem Definition

Results

Solution Testing Results

Business Plan and

Presentation

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Grading

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My Role

• Can entrepreneurship be taught? No I don’t think so.• But there are some frameworks, tools, methodologies, and

entrepreneurial attitudes and behaviors that can be learned and practiced. And if applied, they can significantly increase your entrepreneurial capabilities.

• I also believe that as you learn more about entrepreneurship, you will be more inclined to be an entrepeneur. (Or you might decide whether entrepreneurship is good for you.)

• I see my job only as an enabler, helping out to get the genie of entrepreneurship out of the bottle.

• And I can share few tricks and introduce to you some people who know even better tricks.

• The rest is your job.

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To communicate

• bozkent@ku.edu.tr• Personal Assistan: ozlem@ozkentvetaysever.com• And in case of emergency: 532 544 12 37• I will stay around after classes for questions and inquires• We will also have some intervals for health-check of the

progress

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Important Note

We are looking for innovative ideas and innovative business

models in this course. However, it does’nt mean that

all new ventures should be innovative in real life.

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WHY INNOVATIVE ENTREPRENEURSHIP?

Why

Innovation is bringing new, better (10x) and profitable solutions to

unsolved customer problems/needs.

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Possible…

Demanded…

Destructive…

Yalın Girişimcilik ile Kurumsal İnovasyon Her Hakkı Saklıdır, Özkent ve Taysever

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Yalın Girişimcilik ile Kurumsal İnovasyon Her Hakkı Saklıdır, Özkent ve Taysever

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Yalın Girişimcilik ile Kurumsal İnovasyon Her Hakkı Saklıdır, Özkent ve Taysever

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Yazılım dünyayı yiyor.

1.85 Dolar240.000 Dolar

11 Dolar2.900.000 Dolar

26 Milyar Dolar

62 Milyar Dolar

The Internet of Things is a Hot and Beautiful Mess Until It Becomes the Internet of

Everything

www.theconnectivist.com

By 2020, the number of devices connected to the Internet is expected to exceed 40 billion.

Yalın Girişimcilik ile Kurumsal İnovasyon Her Hakkı Saklıdır, Özkent ve Taysever

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Yalın Girişimcilik ile Kurumsal İnovasyon Her Hakkı Saklıdır, Özkent ve Taysever

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Possible…

Demanded…

Destructive…

Possible…

Demanded…

Destructive…

Yaşam Süreleri Kısalıyor

Yalın Girişimcilik ile Kurumsal İnovasyon Her Hakkı Saklıdır, Özkent ve Taysever 48

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Business Model Destruction

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Homework for Tomorrow

• Read Running Lean– Part-1 Roadmap (Pages 3-19)

• Form and Name Your Team (four to five members)• Find Initial Business Idea (If You Don’t Already Have One) and

prepare a short presentation (3 Slides)– What customer problem are you trying to solve – What is your solution idea– Team members (with photos) and team name

• Send your presentation to me for my preview until tomorrow morning 10 am.

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Homework for Tomorrow

• Read Running Lean– Part-1 Roadmap (Pages 3-19)– Part-2 Create Your Lean Canvas (Pages 23-45)

• Watch Video: Running Lean / Ash Maurya https://www.youtube.com/watch?v=7o8uYdUaFR4

• Form and Name Your Team (maximum of five members)• Find Initial Business Idea (If You Don’t Already Have One) and

prepare a short presentation (3 Slides)– What problem are you trying to solve – Who is your early adaptor customer to be (define in detail)– What is your solution idea and why is it 10 times better than current solutions

• Send your presentation to me latest 5 this Wednesday of my for preview

About the Idea

• Determine a customer group and their unsolved problem. • İmagine a possible solution.• Make sure that you can reach to customers for interviews.• Make sure that you can develop a prototype with your skill

sets or networks.• Make sure that the idea matters for you, you feel

somewhat passionate for solving the problem.• Prefer digital ideas over physical ideas.• Prefer service ideas over product ideas.• Having at least some technical skills within the group helps

a lot.

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About the Team

• Determine a customer group and their unsolved problem. • İmagine a possible solution.• Make sure that you can reach to customers for interviews.• Make sure that you can develop a prototype with your skill

sets or networks.• Make sure that the idea matters for you, you feel

somewhat passionate for solving the problem.• Prefer digital ideas over physical ideas.• Prefer service ideas over product ideas.• Having at least some technical skills within the group helps

a lot.

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About the Team

• Chose people you can be friends with.• Consider logistics (meetings, calendars, locations)• Find a funny team name• Be prepared for hard work

• Start…

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