Mind of the Entrepreneur

Finnnish economy is not doing well. Recently selected new parliament and our future coming new prime minister Mr. Sipilä will get his change to fix issues. He comes with enterprise background and has been a solid entrepreneur him self. Every reasonably thinker in Finland knows that it is all about new jobs and majority of the potential will be in young fast growing companies. This is of course if we wish to build a healthy economy.

Following article is something for the Prime Minister and even more to his fellow politicians to read.

Inside the Mind of the Entrepreneur
Groundbreaking new research shows what sets Inc. 500 CEOs apart from the pack

http://www.inc.com/magazine/201409/leigh-buchanan/inc.500-introduction-to-the-2014-winners.html

The Inc. 500 entrepreneurs excel in every area identified by Gallup. But they absolutely dominate in three strengths–risk-taking, business focus, and determination–compared with the national sample. Those strengths are, not coincidentally, the ones most universally associated with business starts, survival, and scaling.

The group’s top-ranked talent is risk-taking–which will surprise nobody. After all, without risk there is no business. To launch their companies, these entrepreneurs were willing to sacrifice everything, from parents’ retirement funds to cushy executive perches. The Inc. 500 is packed with risk-takers walking away from six-figure salaries and taking on debt–often with young families in tow to sharpen the edge.

Gallup says those with a talent for risk-taking possess a highly optimistic perception of risk but are also rational decision makers who have an extraordinary ability to mitigate that risk. The assessment shows that Inc. 500 founders are more likely than other entrepreneurs to take more and bigger risks. But they are also more likely to optimize their chances for good outcomes and, consequently, rapid growth.

 

 

Digital Disruption

I have been employed by companies that can anticipate a disruption before it happens and also the ones really choose to be disrupted. It’s important to understand that disruption can either bring opportunity (if you get there early)—or disaster (if someone else does).

Every start-up should have in their DNA the capability to think outside the box. In the early phases company founders are not yet coupled with the ongoing need to meet or exceed the quarterly numbers, which typically may hinder you thinking forward and those key mega trends.

Pleaes have a look: https://www.linkedin.com/pulse/anticipating-digital-disruption-daniel-burrus?trk=hp-feed-article-title

Pitching and engagement

I have done pitching on three continents and raised funding usually for Life Science technology companies. Some times there is an immediate click and the discussion becomes a humble solid two way dialogue.

The number of different type of startup pitching competitions around the world is tremendous and still growing.  Some of them have been 100% theater type of actions, where the organizers simply collect their lucrative fees and do not even seriously aim for anything else than a reasonable show. The ones organized usually by the investors them self serve the purpose well. For the young companies it is important not to waste time in places where the audience is not hungry for the information and some sleep before the opening line of the speaker.

I found the article below well written. Pitching indeed should be a symmetrical discovery activity and must be approached as such. Please have a look:

http://venturebeat.com/2015/04/06/startup-pitch-competitions-suck-heres-how-founders-and-funders-should-meet/