“seven foundational pillars directly linked to entrepreneur success” berkeley geddes, ceo grow...
TRANSCRIPT
“Seven Foundational Pillars Directly Linked to Entrepreneur
Success”Berkeley Geddes, CEO Grow America Ventures
January 18th, 2011
Take a Step Back in TimeWe learned the mechanics of math in
elementary school.
In Junior high we were taught about complex equations.
What did we do with complex math equations?
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Lowest Common DenominatorsBusiness Models are similar to complex mathematical
equations
Every Business Model has multiple parts that make up the “total equation”
Each part of the equation needs to be reduced to LCD’s
Each equation has one or more problems to solve
LCD’s help get the equation to a point where you can accurately start predicting results
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Business Models – DooBizz.comEvery good Business Plan presents one or
more business models
The Seven Foundational Pillars related to Entrepreneur success ARE the current LCD’s of the business model for DooBizz.com
Note: In a future presentation we can teach the skills that help an entrepreneur identify one or more business models for a good idea!
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Business Model Development and Great Entrepreneur’s
… [Steve] Jobs is a great entrepreneur for an other reason. Lots of ninnies can give customers products they want.
Jobs gave people products they didn't know they wanted, and then made those products indispensable to their lives…
Nick Schulz, American Entrepreneur Institute, August 25th 2011
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #1The importance of Good People and Good Ideas
Hans Rosling’s – 200 years in 4 minutes - You TubeHealthy Wealthy Corner:• Country Foundation:1. Fundamental respect for human life2. People were encouraged to self determine – build their own vision for what their life
will be – Government did NOT tell their people what to do.3. People were protected in pursing their dreams4. People enjoyed the majority of the fruits of their labors• People Foundation:1. Fundamental respect for human life2. Faith based3. Family centered4. Hard working
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Important Disciplines – We Certify• Dispute Resolution is Important – Certify Lawyers
• Maintaining Health is Important – Certify Physicians
• Cars on Freeway are Important – Certify Mechanics
As important as Entrepreneurism is; where does society, by education and training certify entrepreneurs?
Interesting, in countries were entrepreneurism is not prevalent, other certifications do NOT exist.
In 2012, the capstone certification of Entrepreneurism is missing!
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #2Mentor
One of the most important things that can happen for ANY entrepreneur is to link up with an experienced and talented mentor – as soon as possible
Slim Jim – the LDS Trekker
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #3 - ConclusionsThe optimal path does exist
There are common elements to the development of every idea
Entrepreneurs MUST be counseled and advised to know how to stay as close to the optimal path as possible
Any deviation off the path consumes precious TIME, MONEY, and ENERGY
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #4 Each Optimal Path is Unique Priority of variables that make each path unique:1. Sphere of Influence2. Education3. Experience4. Level of Preliminary Funding5. Industry of the Idea – NAICS6. Product or Service or Product and Service7. Country where the idea will be developed8. State or province of idea development
These are some of the top elements of uniqueness
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #5 - ConclusionExperience can be addressed by bringing a subset of
the right people forward at the right time
There is NO substitute for core things that the entrepreneur MUST understand (education)
Entrepreneurs do not know what they do not know; many of them they think they know it all and this can be a HUGE barrier to success
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #6 - Continued
Point of Merit
Proven Point
Idea Creation
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Idea Creation
Pillar #6 – Entrepreneur Life Cycle
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #6 - ConclusionsWhere are you currently in the entrepreneur life cycle?
It is important to understand key elements of this life cycle and where critical “Power Levers” apply
What revenue potential exists under the curve (total revenue generation potential)?
There are several powerful overlays and much more that can be learned from the ELC – (note: future presentation)
How can an entrepreneur reinvent their idea for long term sustainability (skunk works)?
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #7 Power Levers
Do you remember the science lessons on Leverage?
Three essential things:1. Need the right lever for the right job2. Need to use the right fulcrum3. Need to place the lever and the
fulcrum in the correct position to obtain optimal results
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Pillar #7 Power Levers - ContinuedPriority List of Levers1. Mentor2. Document your idea3. Determine if you have a good idea (50,000 foot view)4. Are you willing to make the sacrifice?5. Merit plan – Preliminary funding plan6. Market Research – Business model development7. Product/Service Development8. Marketing Plan9. Sales Plan10. Accounting11. Legal12. Administration13. Business Operations14. Business Plan15. Launch and Monitor
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
DooBizz.com
Is your absolutely FREE High-Power entrepreneur tool!
At doobizz.com entrepreneurs are taught everything that they need to know and need to do to be successful.
Leverage! Use the Power Levers to your advantage!
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Questions?
Berkeley Geddes
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Berkeley Geddes
Phone: 480.570.2021
Thank You
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved
Many Ask – So how is DooBizz.com going to be able to continue to support entrepreneurs for
FREE and still make money?Great Question:If we have the right business model equation
and LCD’s then we should be able to predict results? Right?
We have identified 54 channels of revenue.
Lets use one of the foundational pillars and show ONE revenue channel.The Bank Overlay
© 2010 – 2012, Berkeley L. Geddes - All Rights Reserved