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DISCIPLINED ENTREPRENEURSHIP 1 Bill Aulet Managing Director, Martin Trust Center for MIT Entrepreneurship How to translate Invention into Innovation-Driven.

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Presentation on theme: "DISCIPLINED ENTREPRENEURSHIP 1 Bill Aulet Managing Director, Martin Trust Center for MIT Entrepreneurship How to translate Invention into Innovation-Driven."— Presentation transcript:

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2 DISCIPLINED ENTREPRENEURSHIP 1 Bill Aulet Managing Director, Martin Trust Center for MIT Entrepreneurship How to translate Invention into Innovation-Driven Entrepreneurship -

3 DiPol 2

4 Entrepreneurship 101 Quiz 3 What is the singular necessary and sufficient condition to have a company? 1.

5 1.What is innovation and entrepreneurship? 2.How should it be taught? 3.Concrete actions we can take 4

6 5 Being an entrepreneur is the new “cool” thing.

7 6 BOJS

8 7 But is there sufficient understanding of the topic? Hmmm….

9 Innovation Innovation = Invention * Commercialization

10 25K+ Companies 3.3M+ Jobs ~900 New companies/yr ~$2 trillion annual revenues 11 th biggest economy in the World

11 DISCIPLINED ENTREPRENEURSHIP Definition of Entrepreneurship – 2 Types Entrepreneurship SME (Small Medium Enterprise) Regional Markets Restaurants Dry Cleaners Services IDE (Innovation-Driven Entrepreneurship) Global Markets Products for Export Sustainable Competitive Advantage at Core Δt is short Linear growth Less investment required Δt is long Exponential growth A lot of investment required

12 Other Questions for Entrepreneurship Education 1.Can 2.Why 3.How 11

13 12 Crisis in entrepreneurial education Demand Supply of quality Time Storytellin g

14 Importance of Spirit 13

15 14 Spirit + Skills Successful Entrepreneurship

16 How How should entrepreneurship be taught? 1.Open (common language & best tools) 2.Systems Approach (integrated & prescriptive) 3.Rigorous but Practical (mens et manus) 15

17 How 24 Steps Was Put Together 16

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25 Benefits of Approach Comprehensive yet Practical Integrated Proven & Tested – To Stand the Test of Time Sequential/Prescriptive Creates Common Language for Knowledge Transfer and Accumulation 24

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27 Spiraling Innovation 26

28 Linkage of Various Steps Is Critical and Underlies the Integration 27 Persona Priorities: 1.Aaaaa 2.Bbbbb 3.Ccccc 4.Ddddd Quantified Value Proposition As Is State X Possible State Y Value Prop = ∆ of X & Y Measured in dimension of Priority #1 Priority #1 Good Bad Priority #2 GoodBad YOU Alt #1 Alt #2 Alt #3 Alt #4 Competitive Positioning “Core” Supports Competitive Position Resource Plan Supports Building Core

29 Product Development Must be a Rapid & Continuous Process 28 © Ash Maurya, “Running Lean”,

30 Search for Truth? 29

31 30 “I'm actually as proud of the things we haven't done as the things I have done.” —Steve Jobs

32 Examples of Disciplined Entrepreneurship 31

33 More info The book Progress Dashboard 32

34 Free Online course 33

35 1 Week Intensive Course at MIT By application welcomes you to apply Last week of January at MIT


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