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The Founder Institute

@
DePaul University

A Strategic Approach to
Vision & Validation

Sept. 25, 2017


www.ActionMarketing.info (312) 642-4647 MonaPearl@ActionMarketing.info
Are You An Entrepreneur?

I have an idea

I am sharing my idea

I am executing on my idea

I am turning my idea into a viable business

www.actionmarketing.info (312) 642-4647 MonaPearl@ActionMarketing.info


What makes a successful entrepreneur
vs.
a successful human being?

SET LONG TERM GOALS


Assessing Value:
There is a shortage of excellent entrepreneurs
HAVE whoA PLAN
can make start up ventures very successful.
What will these results mean for your
FOLLOW IT
organization?
WhyBUILD How would you
do entrepreneurs
RELATIONSHIPS faceassess
thesethe actual return?
challenges?
How
1. Strategic will how
know thesedirection
results impact the bottom line?
2. HOPE
When IS
you NOT
What dontAknow
STRATEGY
is the what you
intangible and SUCCESS
dont
impact? know IS
3. APoor
WELL EXECUTED
alignment
What between
is the scopePLAN
vision,
of mission,
the impact onresources,
customers
strategy and
and operations
employees?
www.actionmarketing.info (312)
642-4647 How important is this compared to your
overall responsibilities?
MonaPearl@ActionMarketing.info
The best startup ideas are formed from the
intersection of a real customer problem and your
personal strengths and passions.

If you want something new, you have to stop doing


something old.
Peter F. Drucker
http://www.businessinsider.com/13-brilliant-ideas-that-turned-these-people-into-self-made-billionaires-2015-
6/#ter-he-changed-the-name-to-facebook-and-in-less-than-a-decade-turned-it-into-a-250-billion-company-
zuckerberg-is-now-worth-over-35-billion-4

www.actionmarketing.info (312) 642-4647 MonaPearl@ActionMarketing.info


Planning for Tomorrows Opportunities.
N

W E

Cultural differences
5 Execution

Next Steps
Who will do it?
Focus4 onHuman
the Human
CapitalCapital Create a best
practice training program
Elevate
Howcustomer service
are we going do it?standards
Exceed
3 expectations
Tactics
Position as part
Who & where doof
wethe
wantcommunity
to be?
Develop
Whata do
model thattofits
we want do?the needs &
2 objectives of the target
Strategic Goals groups
Who are we?
www.actionmarketing.info (312)
1 Mission/Vision/Values
642-4647
MonaPearl@ActionMarketing.info
Strategic Thinking,
Planning & Execution

Opportunity & Trends


What do you want Nextto do?Steps
What domain Focus are
on you in? Capital Create a best
the Human
Who is the practice training program
competition?
What are the Elevate customer service standards
trends?
Exceed expectations
Proof of Concept
Position as part of the community
SWOT Develop a model that fits the needs &
Personal SWOT objectives of the target groups
Business SWOT
Do you really (312)
www.actionmarketing.info want to run a business?
642-4647
MonaPearl@ActionMarketing.info
Next Steps
Focus on the Human Capital Create a best
practice training program
Elevate customer service standards
Exceed expectations
Position as part of the community
Develop a model that fits the needs &
objectives of the target groups

www.actionmarketing.info (312)
642-4647
MonaPearl@ActionMarketing.info
Major Components of the Action Plan

Cultural differences
Strategic Plan

Mission NextWhySteps
we exist
Action Plans

Evaluate Progress

Vision
Focus on the Human Capital Create a best
What we want to be
practice training program
Goals Elevate customer service
What we standards
must achieve to be successful

Objectives Exceed
O1
expectations
O2
Specific outcomes expressed in
measurable terms (NOT activities)
Position as part of the community
Planned Actions to
Initiatives
AI1 Develop
AI2 AI3 a model that fits the needs
Achieve &
Objectives
objectives of the target groups
Measures Indicators and
M1 M2 M3 Monitors of success
Targets T1 T1 T1 Desired level of performance
and timelines
www.actionmarketing.info (312)
642-4647
MonaPearl@ActionMarketing.info
Questions:

What is your idea?


What is your vision?
What is your mission?
Next Steps
Who else is doing what you want to do?
Focus on the Human Capital Create a best
Whatpracticeare they doing?
training program
Why Elevate
is thiscustomer service standards
product/service a good idea?
Exceed expectations
What problem does it solve?
Position as part of the community
Who does it serve?
Develop a model that fits the needs &
Whatobjectives
opportunity doesgroups
of the target it create?
What is your value proposition?
Why should
www.actionmarketing.info (312) anyone buy your product/service?
642-4647
MonaPearl@ActionMarketing.info
Legwork for Validation

SET LONG TERM GOALS


Assessing
business Value:
Describe the general industry and market domain of the
HAVEopportunity
A PLAN or company.
What will these results mean for your organization?
FOLLOW
Describe IT
How would you assess the actual return?
the purpose of your company, its reason for
How will these results impact the bottom line?
existence in the marketplace, and other general information
What is the intangible impact?
about the
BUILD organization,
RELATIONSHIPSoperations, marketing, finance, and
What is the scope of the impact on customers and employees?
technology.
How important is this compared to your overall responsibilities?

HOPE IS NOT A STRATEGY and SUCCESS IS


Understand
A WELL the key factorsPLAN
EXECUTED of the market domain that you
discovered in your research that may/affect your company.
www.actionmarketing.info (312)
642-4647
MonaPearl@ActionMarketing.info
Strategic Thinking,
Planning & Execution

Next Steps
Focus on the Human Capital Create a best
practice training program
Elevate customer service standards
Exceed expectations
Position as part of the community
Develop a model that fits the needs &
objectives of the target groups

www.actionmarketing.info (312)
642-4647
MonaPearl@ActionMarketing.info
www.ActionMarketing.info (312) 642-4647 MonaPearl@ActionMarketing.info
Within five years. If youre in the
same business you are in now,
youre going to be out of business.
Philip Kotler
The role of failure &
why it may good to fail

http://www.huffingtonpost.com/brian-honigman/35-tech-
entrepreneurs-failure_b_5529254.html

Next Steps
Focus on the Human Capital Create a best
practice training program
Elevate customer service standards
Exceed expectations
Position as part of the community
Develop a model that fits the needs &
objectives of the target groups

www.actionmarketing.info (312)
642-4647
MonaPearl@ActionMarketing.info
Understand market dynamics

Choose your game style

Know the court

Identify the players

Develop THE roadmap

Play to win! 14