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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, [email protected]
Prof. Luis Caldas de Oliveira, [email protected]
Prof. Miguel Amaral, [email protected]
Serban Mogos, [email protected]
Diogo Henriques, [email protected]
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
