Archive for November, 2014

Entrepreneurship – Juggling 6 balls

Sunday, November 2nd, 2014

On Saturday (November 2) I visited Tie Con 2014 Chennai and many entrepreneurs during the day.

During the various meetings I observed 6 patterns of problems being faced by entrepreneurs

1. Lots of discussion were around Fund raising, valuations etc. I call Finance Capital.

2. Second area was around product and its differentiation. We can call it IP Capital.

3. Once they have finance and IP capital then it’s about Building a team. That’s about Human capital.

4. Right customer identification and winning customer confidence is about building Customer Capital.

5. Once entrepreneurs complete first four blocks then he start thinking about Systems and processes ie Power of Execution Capital.

6. Finally the scaling is about getting noticed and start getting few Pull sales. This is building Brand – Brand Capital.

Now imagine a Cuboid of 1 inch side with 6 sides and write each capital on one side of the face. Face 1 – finance capital, Face 2 – Product/IP capital, Face 3 – Team/Human Capital, Face 4 – Customer Capital, Face 5 – Systems/Execution Capital, Face 6 – Brand Capital

Now if each side of the Cuboid grows 3 times or each capital grows 3 times, what will be the overall growth of the Cuboid. Calculate.

27 times

And if each side grows 4 times, what will be the impact on Business Cuboid?

64 times the business

That’s the power of Entrepreneurship.