Síntesis del artículo: Questions every entrepreneur must answer (Amar Bhide) Por: Andrés Felipe Cosme Hurtado

El artículo

Síntesis del artículo: El emprendedor disciplinado -> Donald Sull Por: Andrés Felipe Cosme Hurtado La idea central del artículo es que la tarea crítica de un emprendedor yace en el manejo efectivo de la incertidumbre inherente a ensayar algo nuevo. Después de una investigación sistemática de cinco años tratando de identificar como los emprendedores manejan los riesgos. pero no de emprendedores comunes. equipos. . el valor a ser creado y un plan de ejecución: puede ser expresado explícitamente como un plan de negocios. Asegurar los recursos: no sólo los activos “duros” como el dinero. como se menciona la tarea crítica de un emprendedor es el manejo efectivo de la incertidumbre que siempre va estar presente. Están categorizados según su alcance en parciales. Asegurarse de poder dar una opinión fundamentada. ente ellos Como “filtrar” una oportunidad Cuánto dinero recoger Cuando realizar las contrataciones claves Como usar de manera más eficiente los recursos limitados (relacionado al diseño de experimentos) En general habla de tres pasos que abarcan dichas preguntas claves 1. red de empleados potenciales y acceso a los canales de distribución. demanda de clientes. competitividad y disponibilidad de recursos. es claro en que la recompensa de un emprendedor está íntimamente ligada a los riesgos. Las recomendaciones del autor al respecto de la hipótesis son mantenerla fluida. entre otros. Sin embargo. moldeable. el autor propone una serie de recomendaciones sobre temas importantes que enfrentan los emprendedores. las pruebas de introducción de mercado de un producto normalmente están al alcance de empresas que puedan pagarse una buena investigación de mercado. el diseño de experimentos normalmente no está tan al alcance de un emprendedor (hablo al menos de mi país). como manejar el tema de propiedad intelectual y cuando contratar a los recursos humanos “claves”. Estos pueden ser construir prototipos. edificios pero también recursos intangibles como propiedad intelectual. Este contiene estimaciones explícitas e implícitas sobre múltiples variables. Sin embargo. Identificar “deal killers” (problemas potenciales que pueden matar el negocio) y factores de éxito 2. como aprendizaje es claro y valioso el aporte en sintetizar algunas de las preguntas que son de más difícil respuesta y causan un mayor grado de incertidumbre cuando un emprendedor está tratando de crear empresa. Formular una hipótesis de trabajo: una hipótesis es un modelo mental que incluye la definición de la oportunidad. Diseñar y ejecutar experimentos: En el contexto empresaria. introducir productos en mercados de prueba. Se presentan algunos insights sobre que tanto dinero recoger. los recursos requeridos. un experimento es una prueba diseñada para reducir las fuentes de incertidumbre que son críticos para el éxito de un emprendimiento. antes de comprometer recursos adicionales. incluyendo tecnología. por partes Mi crítica del artículo es que a pesar que las preguntas a las que trata de responder son todas válidas. holísticos. Por ejemplo. en el cual se propone no hacerlo al inicio del plan de negocio 3.

before they can attract the resources they need to experiment. building prototypes. Typical examples include introducing a product or service in a test market Stage experiments. In contrast to partial efforts. Entrepreneurs can take a page from a venture capitalist's playbook and stage investments by starting with relatively low-cost tests of deal killers or big bets before proceeding to more expensive bolistic experiments Avoid experiment creep. Holistic experiments. Over the past five years. Common examples include undertaking customer research. an experiment is a test designed to reduce sources of uncertainty critical to the success of a new venture before deciding to commit additional resources. launching regional service and working with beta customers Partial experiments. equipment and real estate but also intangible resources such as intellectual property. which occurs when an experiment drags on too long. Partial experiments reveal information about a single critical source of uncertainty. costs too much or lacks clarity about which sources of uncertainty are being tested not only hard assets such as cash. using feedback from potential investors or partners.In the entrepreneurial context. Experimental design can he divided into two broad categories: partial and hoHstic experiments. I have conducted systematic research into how entrepreneurs manage the inevitable risks while pursuing opportunities entrepreneurs may revise their hypotheses several times. . a network of potential employees and access to a partner's customers and distribution capability But the rewards of entrepreneursbip are unattainable without the risks entrepreneurs should instead manage uncertainty by taking a disciplined approach. Entrepreneurs must guard against experiment creep. holistic experiments simultaneously test multiple variables and interactions among them on a small scale.

deal killers — variables that are likely to prove fatal to the venture. too. multiple variables influence possible payoffs. Formulate a Working Hypothesis An entrepreneur or manager begins the process hy formulating a hypothesis — a mental model that generally includes a defmition of the opportunity. The first step in screening an opportunity occurs when managers and entrepreneurs step back and ask themselves whether their experience or expertise gives them the right to an opinion on the specific opportunity. A working hypothesis will contain implicit and explicit assumptions about multiple variables — including technology. how much money to raise.^The model may reside implicitly in the bead of the entrepreneur or it may be expressed explicitly as a business plan. the startup's business model underwent at least one major change (and countless minor ones) before eventually stabilizing. Be sure you have the right to an opinion.xperiment. when to make key hires and how to use limited resources most efficiently 1. What are we betting on here? 2. They .Example: a software startup could be dead in the water if a deep-pocketed rival has a valid claim on the underlying intellectual property. Here. Identify deal killers and big bets. the value that would be created if it were to be successful and a plan to pursue it. customer demand. entrepreneurs must assemble the resources necessary to conduct the e.this model does provide insights into some of the most daunting questions entrepreneurs face — including how to screen an opportunity. competitive response and the availability of resources — each of which is uncertain how can entrepreneurs and managers best formulate (and reformulate) their working hypotheses? Some practical suggestions: Keep it fluid key finding from their research was that in nearly every case. Understanding uncertainty is the first step in managing it and requires a deep knowledge of customers as well as competitive. technical and regulatory factors. The other hump in the bimodal distribution is the good news. Assemble Resources Before testing their working hypotheses. the resources required to pursue it. One way to do that is to ask. and entrepreneurs must clearly identity what they see as the key drivers of success.

On the other hand. "survives contact with reality. Another vexing question is when to bring on top executives. building prototypes. an experiment is a test designed to reduce sources of uncertainty critical to the success of a new venture before deciding to commit additional resources. with a cushion huilt in for contingencies Stabilize the business model before making key hires.need not only hard assets such as cash. Design and Run Experiments "No business plan. a war chest of cash on the balance sheet is the ultimate hedge against uncertainty. holistic experiments simultaneously test multiple variables and interactions . and at some point they must take the plunge and test their plan in the real world through an iterative series of experiments." There are limits to how thoroughly entrepreneurs or managers can screen a working hypothesis.** On the one hand. Startups enjoyed a mnch higher likelihood of success if they delayed hiring key managers until initial rounds of experimentation had produced a stable business model. The ideal candidates look more like the "best overall athletes" than "best in class" in a specific even Outsource functions that distract you from critical experiments. the key attributes are passion and flexibility. Entrepreneurs and their investors could then specify the expertise and experience they needed In the early stages." to paraphrase the Prussian Field Marshal Helmuth von Moltke.ntrepreneurs and managers should focus their limited time. How much money to raise is a perennial dilemma for entrepreneurs. In the entrepreneurial context. stockpiling cash entails obvious costs: Entrepreneurs and managers may get sloppy and squander funds on first-class travel or fancy parties Entrepreneurs and managers should raise sufficient capital to finance the experiment they next envision. Experimental design can he divided into two broad categories: partial and hoHstic experiments. launching regional service and working with beta customers Partial experiments. 3. equipment and real estate but also intangible resources such as intellectual property. a network of potential employees and access to a partner's customers and distribution capability Raise enough money to fund the next round of experiments. In contrast to partial efforts. Holistic experiments. F. Common examples include undertaking customer research. attention and resources on experiments that reduce critical sources of uncertainty. Partial experiments reveal information about a single critical source of uncertainty.

costs too much or lacks clarity about which sources of uncertainty are being tested . Entrepreneurs must guard against experiment creep. Typical examples include introducing a product or service in a test market Stage experiments.among them on a small scale. Entrepreneurs can take a page from a venture capitalist's playbook and stage investments by starting with relatively low-cost tests of deal killers or big bets before proceeding to more expensive bolistic experiments Avoid experiment creep. which occurs when an experiment drags on too long.

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