Today, I visited TieCon 2014 Chennai and many entrepreneurs during the day.
During the various meetings I observed 6 patterns of problems being faced by entrepreneurs.
1. Lots of discussions were around fund raising, valuations etc. I call this Finance Capital.
2. Second area was around product and its differentiation. We can call this IP Capital.
3. Once they have finance and IP capital then it’s about building a team. That’s about Human Capital.
4. Right customer identification and winning customer confidence is about building Customer Capital.
5. Once entrepreneurs have completed the first four blocks then they start thinking about systems and processes i.e. the power of Execution Capital.
6. Finally, scaling is about getting noticed and starting to get a few pull sales. This is building a brand – Brand Capital.
Now, imagine a cuboid of 1 inch side with 6 sides and write each capital on each side of its face.
Face 1 – Finance Capital
Face 2 – Product/IP Capital
Face 3 – Team/Human Capital
Face 4 – Customer Capital
Face 5 – Systems/Execution Capital
Face 6 – Brand Capital
Now, if each side of the cuboid grows 3 times or each Capital grows 3 times, what will be the overall growth of the Cuboid? Calculate.
27 times
And, if each side grows 4 times, what will be the impact on the business?
64 times
That’s the power of entrepreneurship.
