I was reading about effectuation in a book, read everything but it was still a bit hazy. But listening to the actual term coiner made it so easy to understand.
Mam, according to you, motivation leads to a good Entrepreneurial career. I want 2 ask you about some decisions that I find hard to take. Like, if Im interested in doing a particular business in my city, where there are some "pre-established" organisatins/company doing the same business over years. Im passionate about doing the business always wanted to have the work done by me. Now should I do it or leave the idea? If i choose to stick, what strategy according to you should be preferable?
What she is saying is that you start out with what you have, and then you figure out where to go along the way. It's specifically to avoid this idea of "doing a particular business", it's about taking what is available and doable with the means you have.
I am a business owner and am doing my Masters, and all of this is a bull shit and not useful just bring me a one entrepreneur who is doing and does what she says I own my business, and I already have my family business SInce 1932, and I am in a network of high growth ventures owner and we never think like that or in this subjective way any way entrepreneurship can't be taught and by the way there is a quote says " if you don't know how to do things, so better to teach it " and this what happens, the talkative lecturers who keeps on talking day and night about how to do a business and there are just taking salaries such a miss
She’s basically speaking on founder product fit and founder market fit. Basically be honest with yourself and see what you are actually capable of doing. You still need to validate a problem exists or else your company will just be a hobby.
As someone who is running a business right now, I find this video to be incredibly helpful in changing the way I think right now. I'm often absorbed in the day to day stuff that you get tunnel vision and are biased towards making certain decisions that aren't always rational or the most efficient.
@@Jackson_Zheng As someone who at the time I wrote this comment, had to write a huge college paper on this topic, I still didn't learn anything that I can apply in the real world. She is saying nothing but utter nonsense for 10 minutes straight.
I am a business owner and am doing my Masters, and all of this is a bull shit and not useful just bring me a one entrepreneur who is doing and does what she says I own my business, and I already have my family business SInce 1932, and I am in a network of high growth ventures owner and we never think like that or in this subjective way any way entrepreneurship can't be taught and by the way there is a quote says " if you don't know how to do things, so better to teach it " and this what happens, the talkative lecturers who keeps on talking day and night about how to do a business and there are just taking salaries such a miss
If you've had your business since 1932, you're simply not an entrepreneur, but the owner of an established business. Her research is meant to understand how entrepreneurs make decisions when they start their venture. The main idea is that they depart from who they are, what they know and whom they know when they create their first product & initial customers. This is an inductive approach and quite different from day-to-day management of an established business. On the contrary, managers and business owners like yourself analyze customer expectations, do market research, do sales pitch, invest in capital, etc. Because they already have a product that they know it sells, they have customers and some experience on what works and what doesn't in their line of business. Thus what is to be done is day-to-day execution. This is deductive thinking, and quite different from what I explained in the previous paragraph. Entrepreneurs also do these things of course, but when they are at their very early stage, when everything is uncertain about their business, they don’t even know if their idea is the right idea, whether their product would sell, what features would customers want, etc. they turn to inductive thinking, and drive form their own network and experiences in shaping their idea. This is what she is trying to talk about. If you ask any professor interested in entrepreneurship studies, they will explain in detail. Of course if you think all they say is bullshit, you won't bother, cos you know it all. Then why even pursue a master's degree anyway. ..and there is an extension to your quote "if you don't know how to do things, better to teach it"; it goes "if you don't understand a thing, better to discredit it" - and that's simply what you do here. There are those who are involved in entrepreneurship, and those who study entrepreneurship. You don't have to be an entrepreneur to study entrepreneurship and entrepreneurs; that's a different line of work, which applies scientific method to discover phenomena. Surely there's more in the world of entrepreneurship beyond your experience and understanding. Of course your personal experiences are very valuable, but scientists (in any field) try to draw from the experiences of at least dozens of people to come up with knowledge generalizable to everyone. This is the job of scientists, and the experience of a single person is not sufficient to explain the whole phenomenon. And I don't mean that scientists are better (or more valuable) entrepreneurs. I think entrepreneurship is usually much harder than scientific work. Speaking as a former entrepeneur and a PhD candidate.
I think the question here is "I already have my family business SInce 1932". So, this means you are not an entrepreneur. You are just continuing a business your family started. Being an entrepreneur is another thing, is more related to what she is saying.
@Hussien: Financial opportunity: Invest in an web app called, "Grammarly." Their AI is disrupting the entire industry with innovative concepts such as the "comma" and the "period." Grammarly is poised to make the run on sentence obsolete!
This is the best definition of entrepreneurship ever!
I was reading about effectuation in a book, read everything but it was still a bit hazy. But listening to the actual term coiner made it so easy to understand.
This video helped give me a new perspective on entrepreneurship
Gratitude
Mam, according to you, motivation leads to a good Entrepreneurial career. I want 2 ask you about some decisions that I find hard to take. Like, if Im interested in doing a particular business in my city, where there are some "pre-established" organisatins/company doing the same business over years. Im passionate about doing the business always wanted to have the work done by me. Now should I do it or leave the idea? If i choose to stick, what strategy according to you should be preferable?
What she is saying is that you start out with what you have, and then you figure out where to go along the way. It's specifically to avoid this idea of "doing a particular business", it's about taking what is available and doable with the means you have.
I am a business owner and am doing my Masters, and all of this is a bull shit and not useful just bring me a one entrepreneur who is doing and does what she says I own my business, and I already have my family business SInce 1932, and I am in a network of high growth ventures owner and we never think like that or in this subjective way any way entrepreneurship can't be taught and by the way there is a quote says " if you don't know how to do things, so better to teach it " and this what happens, the talkative lecturers who keeps on talking day and night about how to do a business and there are just taking salaries such a miss
She’s basically speaking on founder product fit and founder market fit. Basically be honest with yourself and see what you are actually capable of doing. You still need to validate a problem exists or else your company will just be a hobby.
Can it be used for consultant? for managers?
this light reflection in her glasses.... :D
Brilliant!
I love it!
Saras "If you will" Sarasvathy
Wow!!!!
Someone who's never run a business talks non stop for 10 minutes without actually saying anything.
As someone who is running a business right now, I find this video to be incredibly helpful in changing the way I think right now.
I'm often absorbed in the day to day stuff that you get tunnel vision and are biased towards making certain decisions that aren't always rational or the most efficient.
@@Jackson_Zheng As someone who at the time I wrote this comment, had to write a huge college paper on this topic, I still didn't learn anything that I can apply in the real world. She is saying nothing but utter nonsense for 10 minutes straight.
@@GabrielWJensen except she absolutely has run her own businesses
I am a business owner and am doing my Masters, and all of this is a bull shit and not useful just bring me a one entrepreneur who is doing and does what she says I own my business, and I already have my family business SInce 1932, and I am in a network of high growth ventures owner and we never think like that or in this subjective way any way entrepreneurship can't be taught and by the way there is a quote says " if you don't know how to do things, so better to teach it " and this what happens, the talkative lecturers who keeps on talking day and night about how to do a business and there are just taking salaries such a miss
If you've had your business since 1932, you're simply not an entrepreneur, but the owner of an established business. Her research is meant to understand how entrepreneurs make decisions when they start their venture. The main idea is that they depart from who they are, what they know and whom they know when they create their first product & initial customers. This is an inductive approach and quite different from day-to-day management of an established business.
On the contrary, managers and business owners like yourself analyze customer expectations, do market research, do sales pitch, invest in capital, etc. Because they already have a product that they know it sells, they have customers and some experience on what works and what doesn't in their line of business. Thus what is to be done is day-to-day execution. This is deductive thinking, and quite different from what I explained in the previous paragraph.
Entrepreneurs also do these things of course, but when they are at their very early stage, when everything is uncertain about their business, they don’t even know if their idea is the right idea, whether their product would sell, what features would customers want, etc. they turn to inductive thinking, and drive form their own network and experiences in shaping their idea. This is what she is trying to talk about.
If you ask any professor interested in entrepreneurship studies, they will explain in detail. Of course if you think all they say is bullshit, you won't bother, cos you know it all. Then why even pursue a master's degree anyway.
..and there is an extension to your quote "if you don't know how to do things, better to teach it"; it goes "if you don't understand a thing, better to discredit it" - and that's simply what you do here. There are those who are involved in entrepreneurship, and those who study entrepreneurship. You don't have to be an entrepreneur to study entrepreneurship and entrepreneurs; that's a different line of work, which applies scientific method to discover phenomena. Surely there's more in the world of entrepreneurship beyond your experience and understanding. Of course your personal experiences are very valuable, but scientists (in any field) try to draw from the experiences of at least dozens of people to come up with knowledge generalizable to everyone. This is the job of scientists, and the experience of a single person is not sufficient to explain the whole phenomenon.
And I don't mean that scientists are better (or more valuable) entrepreneurs. I think entrepreneurship is usually much harder than scientific work. Speaking as a former entrepeneur and a PhD candidate.
I think the question here is "I already have my family business SInce 1932". So, this means you are not an entrepreneur. You are just continuing a business your family started. Being an entrepreneur is another thing, is more related to what she is saying.
@Hussien: Financial opportunity: Invest in an web app called, "Grammarly." Their AI is disrupting the entire industry with innovative concepts such as the "comma" and the "period." Grammarly is poised to make the run on sentence obsolete!
Predator