Llp tecnico-class1

LLP@TecnicoClass 1

Luis Caldas de Oliveira

Agenda for Class 1

Class introduction

Activity: find resources

Entrepreneurial skills: effectual reasoning

Teams and projects

Work for next week

CLASS INTRODUCTION

Instructors

Prof. Rui Baptista, rui.baptista@tecnico.ulisboa.pt

Prof. Luis Caldas de Oliveira, lco@tecnico.ulisboa.pt

Prof. Miguel Amaral, miguel.amaral@tecnico.ulisboa.pt

Serban Mogos, serban.mogos@gmail.com

Diogo Henriques, carlos.diogo@tecnico.ulisboa.pt

Key Concepts

Students are experts in their fields

Advisors are technical consultants

Mentors are business counselors

Instructors are experts in the LLP model

Key Points

Evidence-based entrepreneurship (not “faith-based”)

Students need to “get out of the building”

Time management: intense and fast

Community: every class member must actively comment the other teams

Before Each ClassTalk to 2x(TeamMembers) customers about lecture (n-2)

Update narrative and canvas (n-2)

Revise MVP based on findings about (n-2)

Prepare presentation with findings about (n-2)

Formulate hypotheses about (n-1)

Prepare interviews about (n-1)

Talk to mentors and advisors

Watch Udacity lecture (n)

In Class

New entrepreneurial skill

Q&A about lecture (n-1)

Team present findings about (n-2)

Summary of lecture (n)

Weekly Class

• Tuesdays10:30 – 13:00

• All team members must be present

• Some members maybe away for part of the class

• All members must present during team presentation

ACTIVITY: FIND RESOURCES

Find Persons with Resources

1 • Fill your name and add one resource to the list

2 • Find a person in the room

3 • See if he or she has one of the listed resources

4 • If so, take note of the persons name

5 • Go to step 2

5 Minutes

Lessons LearnedHow many resources did you find?

Did you talk to everyone in the room?

Did all resources made sense?

How valuable is each resource?

EFFECTUAL REASONING

Managerial Thinking (Causal)

Entrepreneurial Thinking (Effectual)

Research Experiment

Result: Effectuation

5 Principles of Effectuation

Bird-in-hand

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

Affordable Loss

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

Lemonade

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

Patchwork Quilt

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

Pilot-in-the-plane

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

The Effectual Cycle

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

The Cycle Starts Here

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

Then Interact With People

What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia

Entrepreneurial Pool of Resources

Social Resources

• Social ties• Personality traits• Hobbies and personal

interests• Geographic

knowledge• Social and professional

reputation

Physical Resources

• Access to capital• Access to incubators

or accelerators• Prototypes• Access to equipment

and laboratories• Offices or real estate

Means/ResourcesMe

Who am I?

My skills

What do I

know?

My social resources

Who do I

know?

My physical resources

What do I have?

List Your Resources

Take a peace of paper

Make 4 columns

Title each column: Me, My skills, My social resources, My Physical resources

Fill each column

List Your Resources(5 Min.)

Examine Your Resources

Which is the most unique resource in each category?

Do I have more skills, physical or social resources?

Order your resources

GoalsWhat can I do?

Resources needed

What I know?

Who o I know?

What do I have?

List 4 Goals

Take a peace of paper

Make 4 columns

Fill each column with one goal

For each goal write the resources needed (even if you do not have them)

List 4 Goals (5 Min.)

Examine Your Goals

Which is the most relevant goal?

Which is the easiest goal to achieve?

What should be your first action for each goal?

Match Your Resources and Goals withLarge Areas

Healthcare Education Economy

Environment Cities People

Mobility Energy Housing

FIND PROBLEMS

Problem, Area, Resources

Healthcare Education Economy

Environment Cities People

Mobility Energy Housing

Problem

Area Resources

Who am I?

What do I know?

Who do I know?

What do I have?

List of Problems

Select One ProblemDo companies have that problem?

How many people have the problem?

What is the value of the problem?

Who is willing to pay?

Current solutions?

Key Issues of the Problem

Key Issue

Why is the problem

important?

Customer

Who has this

problem?

Value

Is it worth the

investment?

Reframe

Can the problem be

viewed differently?

http://diytoolkit.org/tools/problem-definition-2/

Problem Definition Tool

https://vimeo.com/91934378

Problem Definition

WORK FOR NEXT WEEK

Customer Discovery• Death by Demo 1

http://vimeo.com/groups/204136/videos/76390080

• Death by Demo 2http://vimeo.com/groups/204136/videos/76172223

• Death by Powerpointhttp://vimeo.com/groups/204136/videos/76171146

• Understanding the problemhttp://vimeo.com/groups/204136/videos/76173388

• Attention to Outliershttp://vimeo.com/groups/204136/videos/76177672

Before Next Class

Watch Videos

• Lecture 1: What We Now Know

• Lecture 1.5: Business Models and Customer Development

• Lecture 2: Value Proposition

Obrigado