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Ilya Strebulaev and Alex Dang just published a book entitled The Venture Mindset: How to Make Smarter Bets and Achieve Extraordinary Growth, and an accompanying Harvard Business Review article entitled Making Decisions with a VC Mindset.[1],[2] In these pieces, they outline nine principles that guide the decision-making of successful venture capitalists, their so-called VC Mindset. he authors' critical insight and prescription is that established corporations and the intrapreneurs working within them, developing new products and services, can be more successful if they too [1] Strebulaev, I., & Dang, A. (2024). The Venture Mindset: How to Make Smarter Bets and Achieve Extraordinary Growth. Penguin Random House. [2] Strebulaev, I., & Dang, A. (2024). Making Decisions with a VC Mindset. Harvard Business Review, May-June 2024 issue. 
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This discussion will sequentially address four ground breaking concepts put forth by Roger L. Martin, strategist, author, top management thinker and former Dean of the Rotman business school at University of Toronto, as well as four endorsements of contemporary strategic thinking. These analyses draw upon a variety of sources, including two of his books, four of his videos, a few of his articles, and content from the Roger L. Martin website (https://rogerlmartin.com), particularly his PTW/PI posts.
I have been a fan of Harvard Business School Professor Michael Porter since 1987 when I was first taught his famous 5 forces model and read his seminal 1980 book Competitive Strategy: Techniques for Analyzing Industries and Competitors which has been reprinted numerous times. (en.wikipedia.org/wiki/Michael_Porter, en.wikipedia.org/wiki/Porter%27s_five_forces_analysis, www.amazon.ca/Competitive-Strategy-Techniques-Industries-Competitors/dp/0684841487 and youexec.com/book-summaries/competitive-strategy-by-michael-porter)
Linked here is a 70' presentation by Michael Porter from 2015 in which he eloquently covers all the key issues related to business strategy: He describes strategy as competing to be unique, to chose to do things differently as a differentiator or cost leader. As part of the strategy, the value proposition involves which customers you serve (recognizing that you can't serve them all well and profitably), their need (or perhaps Job-To-Be-Done) and your pricing strategy (or perhaps business model). He goes on to argue that the business strategy should not be a secret but instead be a widely known and shared foundation to help drive decision making on what new avenues to pursue as well as how to make the inherent trade-offs that arise. Michael Porter's thinking fits well with my entrepreneurial/intrapreneurial emphasis on "Magic" which encompasses doing something differently and business plans which I see as a written manifestation of the business strategy. (no-magic-no-business-opportunity.html and to-draft-a-business-plan-or-not.html) The display, details and delivery. Here's the handout and full PowerPoint with notes and links (video to follow)
www.dropbox.com/sh/g57q7wdckqsn9xv/AAAZWg1LIQGl0Kk5-ugCbbz3a?dl=0 Rubrics for grading reports and presentations:
the Financial Toolkit for Entrepreneurs, this is an eight-part series that provides an introduction to budgeting, forecasting and fundraising for early-stage entrepreneurs as well as project managers or intrapreneurs working on new projects within an established firm.
The 8 videos and 2 slide sets can be found at: drive.google.com/drive/folders/1nT7cWMVVqqGLhRR0zHU9x17kf_jLLIS4?usp=sharing The full course requires between 100-120 minutes to complete. A. Basic accounting review 26 slides/18.5’ B. Value of budgets and forecasts 14 slides/6.0’ C. Budgeting I: activity-grounded modeling 26 slides/14.0’ D. Budgeting II: assumptions and sensitivity 12 slides/6.2’ E. Longer-term forecasts 13 slides/6.8’ F. Risk and net present value 18 slides/12.0’ G. Fundraising sources and process 11 slides/5.5’ H. Investment 15 slides/8.5’ Additional and optional readings to explore further include: A https://www.investopedia.com/terms/f/financial-statements.asp https://bench.co/blog/accounting/financial-statements/?blog=e6 https://www.youtube.com/watch?v=_F6a0ddbjtI https://www.pwc.com/jm/en/research-publications/pdf/basic-understanding-of-a-companys-financials.pdf B https://corporatefinanceinstitute.com/resources/knowledge/modeling/what-is-financial-modeling/ https://startup-buzz.com/how-to-create-successful-financial-models-for-startups/ - 10' read C https://go.ey.com/2rRNbzs - 42 minute read - some of which can just be scanned https://blog.close.com/sales-forecasting-strategies -10 minute read https://www.businessknowhow.com/startup/salesprojection.htm D https://corporatefinanceinstitute.com/resources/knowledge/modeling/what-is-financial-modeling/ https://oakbusinessconsultant.com/mistakes-that-startups-make-in-a-financial-model/ E https://www.liveplan.com/blog/the-best-way-to-forecast-sales-and-revenue/ https://www.zenbusiness.com/blog/accurate-sales-projection/ F https://hbr.org/2014/11/a-refresher-on-net-present-value G https://www.thebalancesmb.com/sources-of-business-start-up-money-2948109 H https://www.rocketspace.com/tech-startups/everything-you-need-to-know-about-the-startup-fundraising-process (2,500 words) https://www.slideshare.net/RichardBayney/calculating-riskadjusted-npv-enpv-the-right-way http://hexagoninnovating.weebly.com/1/post/2016/04/white-paper-establishing-ownership-ip-rights-and-governance.html (35 minute) https://www.thebalancesmb.com/how-financial-modeling-helps-startups-4684250 Enjoy the course? I would very much appreciate your feedback either by 1) Completing the survey under CONTACT US/ FEEDBACK 2) Completing the same survey at www.surveymonkey.com/r/NWH8NMC 3) Emailing [email protected] You can also add a comment below. Thank you, Duncan Jones |
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