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The Science of StartBird-in-the-hand
paulshawsmithscientific business strategy
William Kamkwamba (Video)
Interview with 27 expert entrepreneurs
Source: Sarasvathy (2007)
3 40 start upsto
$200 million to $6 billion
1IPO
27entrepreneurs
Bird-in-the-hand
paulshawsmithscientific business strategy
Causal thinking
People
Knowledge
Resources
Market GapPlan
Market Research
(Selecting between given means to achieve a pre-determined goal)
Effectual thinking
Source: Sarasvathy (2007)
Opportunities
Knowledge
People
Resources
Outcome
Outcome
Outcome
Outcome
Outcome
Outcome
(Imaging a possible new end using a given set of means)
William Kamkwamba
Gum trees
Piping
Library books
Bicycle pump
Motivation to help
William Kamkwamba
Means driven vs. Goal driven
*
**
In groups of 3 – 4:
List all the advantages of being means driven
rather than goals driven.Work with what you have rather than
focus on doingit perfectly.Time: 10 minutes
AMAR BHIDE
paulshawsmithscientific business strategy
• You are not chasing investors.
• You are not waiting for the perfect opportunity or perfect set of resources.
• You are working with your strengths without having to overcome your weaknesses first.
• Good stakeholders want to shape goals, not just provide means.
• You are increasing the possible stakeholder who can self-select in your venture.
• You are increasing the probability of innovative surprises.
• You are increasing the likelihood of finding or creating opportunities that are a better fit for you.
• You are increasing the likelihood of even failures being learning experiences that you can recover form faster and build on when you are ready to try again.
• You are forcing yourself to get creative with meager resources including slack resources and even waste.
paulshawsmithscientific business strategy
When are goals useful and when are goals harmful?
paulshawsmithscientific business strategy
Who you know
Who you know
What you know
What you know
Who you Are
Who you Are
Your rolodex Your prior knowledge
Tastes, values and
preferences
Classmates Knowledge from your
job
Passions
Serendipitous encounters
Knowledge from life
Hobbies
The strangers in your life
Informal learning, hobbies
Interests
Inventory your means
AMAR BHIDE
paulshawsmithscientific business strategy
What means did you acquire or build:
• As a teenager.
• At school.
• At university.
• In your first, second, etc…. Job
• In your private life.
• With your hobbies, activities, etc.
• From your parents.
Inventory your means
Inventory your resources
*
**
*
In groups of 3 – 4:
For each person:
Create a list of all your things, knowledge, people,
money & contactsWhom do I know? What things do I have?
What do I know? What money do I have?
* Time: 20 mins
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