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Page 1: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

9 leverages explained

9 leverages of a Successful Entrepreneur

Ilkka O. Lavas

Page 2: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

How would you define

Success?

Page 3: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

How would you define

Success?

Success is not a destination

success is a journey

Page 4: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Step 1

1. Define what Success means to you

Page 5: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

My definition on Succecss

My definition on success:

1) I can do what I am good at and what I enjoy

2) I feel enough challenge in my projects and businesses. I can work with the people who are more skilled than I.

3) My family and kids are feeling good

4) I learn new things and develop personally

5) Change the world: My life can give positive affect to my fellows, my friends, the City I am living in, Finland, Europe and World.

Notice:

SUCCESS FOR ME DOES NOT MEAN MONEY!

Page 6: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Step 2. Think what could be your own Successful Entrepreneurial leverages

Archimedes once stated: If I had a lever long enough I could move the world.

Page 7: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

3. Learn from the best

Think about your idols: Whay are their leverages in life? What are they passionate about? What are their success factors?

Page 8: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

9 leverages of my Successful Entrepreneurial Life

1. Team Entrepreneurship

2. Digital distribution

3. Digital marketing

4. Team Entrepreurial Partnerships

5. Strategic alliances

6. Searching for long lasting customerships

7. The essence of delegation

8. Multiple companies somehow related to my skills (IT, business, marketing)

9. I keep myself in good fit mentally and physically. I want to learn new things all the time.

Page 9: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

1st leverage: Team Entrepreneurship

Page 10: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

1st leverage: Team Entrepreneurship

• Multiple Academic Studies have noticed and underlined, that successful growth enterprices are run by team of 3-5 members.

• Networking: In 2005 I started to discuss with entrepreneurial people about startups. I have met hundreds entrepreneurs and asked them to contact me if they have an idea where they think that I can help with my IT, marketing, business and Internet skills.

• Business plan analyzing: I have analyzed more than 20 business plans every year. Many are crazy, many are too small. Some don’t even have a proper plan yet, only a idea without calculations. Some of them I helped. With some of them I have started up a company.

Page 11: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

2nd leverage: Digital distribution

• Most of my companies are on IT field and we can use digital distribution as a leverage

• I can use Slideshare to tell you these things

• I can distribute dictionary over the web: i.e. www.mydictionary.pro , this was not possible 20 years ago.

• I can distribute online shopping catalogue in form of eshop i.e. www.suomikauppa.fi

• Think if you can use digital distribution as a leverage

Page 12: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

3rd leverage: Digital marketing

• Buying advertising space in magazines is very expensive

• Conversion rates from printed magazines to online are low

• Think how you can use digital marketing as a leverage

Page 13: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

4th leverage: Team Entrepreurial Partnerships

• Team Entrepreneur Partners in my businesses constist of: Business Angels, Professional Directors, Customs Software professional, Software Hosting professional, talented Software developers, Internet Marketing specialists, BIM specialists and professionals, Financial Geniouses, Watch Enthusiastic

• I have 10-100% ownership of my companies. A total 66 people working in these companies and a total revenue of 5 Meur.

• Don’t get greedy. Give shares for your partners when they can give value to the business and help it grow faster than you could yourself.

Page 14: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

5th leverage: Strategic alliances

• Sometimes business partner or contractor can give your business leverage that will be competitive edge.

• That may be relations, contact, infrastructure or anything

• You should not compete if you don’t have abilitity to compete

• Think if there are some strategic alliances that can help you grow your business faster. One of your customers maybe?

• Can you transform your contractor to be your sales channel?

Page 15: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

6th leverage: Searching for long lasting customerships

• You should always look for win-win-win situations where:

– You win

– Your customer Wins

– Endcustomer Wins

• Only winwinwin customerships will last forever.

• Sell once and make sure you create value

Page 16: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

7th leverage: The essence of delegation

No-one is irreplaceable • Even you should think yourself as non-irreplaceable. • Lead and develop your business to survive without you. • Test: Take 5 week vacation and let your people run your

company. Turn off your telephone and let them develop your business better than you could ever lead.

• Stop thinking: – “If I do it myself, it will get done right.” – “I always know what needs to be done.” – “I do everything anyway, so I don’t need help.”

•DELEGATE AND TRUST!

Page 17: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

8th leverage: Multiple companies somehow related to my skills (IT, business,

marketing)

• When you have more companies in different business sectors, some of them are growing when others are not.

• Business portfolio is more stable

• Companies have synergies, one can help each other

• I can help companies to grow faster with my network

• I invest in businesses – that can find leverage on IT field

– and where I can give knowledge of my IT experience

– and wisdom from my networks

– sweat equity or equity

Page 18: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Business portfolio 1. Lavasdesign Oy – investment, it –consulting, startups and

entrepreneurship

eCommerce, Internet

marketing and logistics

company LaKo Trade Oy

Suomikauppa.FI WanhatWarikset.co

m Karkkigalleria.fi

Customs declaration

software company

Samex Solutions Oy Sad-e.fi

EMCS stock reporting software

Social shopping and Cent auction

company Hintabingo Oy

3D-Cad / BIM

Software import

company Micro Aided Design Oy

Spam and Virus

protection company

CTRL Service Oy / No Spam Service

Internet portal

businesses

Ilmainensanakirja.fi

sanakirjani.fi Kaannos.com

Team Entrepreneur Partners in my businesses constist of: Business Angels, Professional Directors, Customs Software professional, Software Hosting professional, talented Software developers, Internet Marketing specialists, BIM specialists and professionals, Financial Geniouses, Watch Enthusiastic I have 10-100% ownership of my companies. Total 66 people working in these companies and total revenue 5 Meur.

W3 Group Finland

Oy

Software projects

At least in small markets like Finland, it is better to have many businesses running at the same time. Businesses can be running on separate companies or in one company depending on

ownership/shareholder structure.

Page 19: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

I keep myself in good fit mentally and physically. I want to learn

new things all the time.

9th leverage

Page 20: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Listen to professionals

• Even if you don’t believe in tv-screen on your eyeglasses or people checkin in to your shop with gps enabled smartphones. Listen to futurists and think these as possibilities to create new business and new value to your customers.

Photo (C) Engadget

Page 21: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Entrepreneurial Tips and Tricks : Stay on track, keep your eyes open

Only thing that is sure about the future is that the future is different.

Even I have heard people saying:

• 1996 ”TeleFax will never die.”

• early 2000 ”I don’t need email”

• 1998 ”Disks will never die”

• 2000 some bosses still said ”I will not need mobile phone.”

Page 22: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

When you spend 8 hours doing something, you should be able enjoy it

• Most important thing in work life is to enjoy work and your achievements at work itself

• You need to have good feeling to

go to work every day • If you don’t like your job or don’t feel good at

the job: QUIT

Page 23: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

We need more flow in our work

• Skill level vs challenge level

Low Skill level High

High

Ch

allenge level Lo

w

Page 24: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Things I learned

• The longer I live and the more I study, the more I learn that I know nothing.

• I can travel to Asia and Australia and Japan. I can travel to 21 countries, but I still learn new things even in my neighbourhood.

• I need to network with people who have experience in different fields than I. This leads to team entrepreneurship

Page 25: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Things I learned : I have seen nothing and I don’t know anything

• ”I have experienced many adventures but the journey is just in the beginning. I have stories to tell and I have to say that the world is full of wonderful things. The more I have travelled the better I know that I have seen nothing. The more I am away from Finland, the more I respect and love Finland.” - Juha Viitala, owner of travel agency Mandala Travel

Page 26: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

”I have seen nothing. The more I travel, the more I love Finland.”, (C) Juha Viitala, Mandala Travel

Page 27: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Entrepreneurial Tips and Tricks:

Prioritization and time management • Teach yourself all the tips and tricks to

– Prioritize things

– Manage your time

• Discuss with your friends about:

– What time management techniques they are using

• Learn from the best

– Read books, go to seminars, find a mentor

Page 28: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Entrepreneurial Tips and Tricks : There are always other things to do • I am member in 7 non-profit organizations, I

have 2 kids, I have 2 motorbikes and I love to swim, travel and play golf. I need to prioritize!

• We people: have only 24 hours per day, which means 8760 hours per year.

• Decide what you want to do with your life.

• Prioritize things

• I could work 80 hours per week but I don’t. See my weekly plan (next slide).

Page 29: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

My 168 hours per week Week schedule

sleeping

w ork

personal

development

eating

w atching tv

w atching movies

active sports

other free time /

sports

being w ith friends

w ith kids and family

travel to w ork (per

w eek)

time for my self,

rest

Page 30: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Page 31: 9 entrepreneurial leverages (explained)

Successful Entrepreneur Ilkka O. Lavas http://www.slideshare.net/ilkkalavas www.ilkkaolavas.com

Successful Entrepreneur

• Ilkka O. Lavas, Successful Finnish Entrepreneur www.ilkkaolavas.com

• Twitter (I tweet in english): http://twitter.com/#!/lavas

• Linkedin: http://www.linkedin.com/in/ilkkaolavas

• Blog about successful entrepreneurship in finnish: http://menestyvayrittaja.yrittaja.info/

• My public facebook (mostly in finnish): http://www.facebook.com/ilkkaolavas

• Subscribe to my public Slideshare: http://www.slideshare.net/ilkkalavas


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