The road to failure
The document outlines seven common "sins" that entrepreneurs often make that can lead their businesses to failure. These sins include having unrealistic expectations about entrepreneurship, not having the right partnerships aligned with their mission, poor planning and decision making, insufficient focus on cash flow and financing, prioritizing good ideas over good people, overly rigid or insufficient systems and structure, and failing to differentiate from competitors by copying them instead of innovating. The document advocates for recognizing the realities of entrepreneurship, carefully selecting mission-aligned partners, thorough planning balanced with adaptability, achieving positive cash flow, hiring the right people, having flexible systems, and being daring, first and different from competitors to avoid these sins.
The road to failure
- 1. The Road to Failure Cairo March 2010
- 2. Table of Content The Seven Sins of Entrepreneurship The First : Entrepreneurship Reality The Second : Partnership The Third : Decision Making & Action The Fourth : Cash & Financing The Fifth : People The Sixth : Structure & System The Seventh : Competition New Lessons from an Old Story
- 3. The First : Entrepreneurship is about having money
- 4. It is about Freedom, Inducing Change and Self-actualization
- 5. Recognize these ?! Steve Wozniak Paul Allen
- 6. What about these ?!
- 7. What about now ?!
- 8. The Second : Partnership is always good
- 9. Partnership is like a long term debt, only Mission Aligned can make it
- 10. The Third : Planning¡Planning¡Planning is the key
- 11. Speed, Learning and Adaptability
- 12. The Fourth : It is about ROI and Future Value
- 13. It is about achieving, maintaining and foreseeing considerable positive Cash Flow
- 14. The Fifth : Good Ideas are more important than Good People
- 15. Right People¡Right Time¡Right Place ( 100% >10 FTE ) ¡( 40% >100 FTE ) ¡( 20% >1000 FTE )
- 16. The Sixth : Multinationals have detailed Structure and Systems, so we should
- 17. Structure and Systems as needed
- 18. The Seventh : Keep an eye on competition, do exactly what they are doing, and beat them on their own game
- 19. Be Daring¡Be First¡Be Different
- 20. New Lessons from an Old Story : The Ugly Duckling
- 21. Any Questions ?