1. Effective Entrepreneurship John Caines John Caines Chinese Entrepreneurs Global (CE Global) Chinese Entrepreneurs Global (CE Global) 24th February 2010, Imperial College, London

2. Aims  Chinese Entrepreneurs Global (CE Global): –a platform for young Chinese entrepreneurs (or entrepreneurs who have a China focus) –a platform for young Chinese entrepreneurs (or entrepreneurs who have a China focus)  to share entrepreneurial ideas/information and experience worldwide  to promote entrepreneurship within the Chinese community in a global context.  to maximize the success rate of new business startups  to inspire young, professional Chinese to be entrepreneurial and enterprising. and enterprising.  John Caines: –to support the ALL of above by:  Sharing own experience and ideas  n.b. Not ‘answers’ so: be active listeners – question, validate, interpret – question, validate, interpret

3. Agenda  My Story:  ‘Where I’m coming from’/Context  Unanticipated Connections  Lessons from my Executive phase –Lucky Breaks –From Opportunity to Focus –High Probability, Low Cost Entrepreneurship  Lessons from my Non Executive phase  Q&A

4. John Caines- The Official Story Unilever, ACMA London Business School MBA Westbury Homes CFO Chaired 8 companies; today: Zeta, Meta Morphose, e2train Chaired SWAIN Coach CEO’s + SSE Angel Investor Author/Prof 1975 2000 JMCA Minerva Maxima Foundations Entrepreneur Portfolio

5. More about Maxima (l) 1990 1994 1998 MBOJust before purchase of ‘Systems Team’ Maxima £million Revenues 0.5 3.4 40.0 Profit 0.05 0.7 3.2 Staff 8 32 520 Business Units Minerva UKMinerva: UK; Denmark, Norway, Sweden, Finland; Czech Republic, Slovakia Systems Team: ‘Continuum of Care’ – Community Health, Social Services, Social Housing

6. More about Maxima (ll)  Initially Systems Integrators: –American core product –Deployed in 40 countries  Then added UK Public Sector (Own IPR) business  First external funding (VC): 1997  ‘Crossing the Chasm*’: –Customers –Competitors * Geoffrey Moore

7. The Real Story: Many bumps on the road Unilever, ACMA London Business School MBA Westbury Homes CFO Chaired 8 companies; today: Zeta, Meta Morphose, e2train Chaired SWAIN Coach CEO’s + SSE Angel Investor Author/Prof 1975 2000 JMCA Minerva Maxima Foundations Entrepreneur Portfolio

8. The Real Story: LUCKY BREAKS (l) Unilever, ACMA London Business School MBA Westbury Homes CFO Chaired 8 companies; today: Zeta, Meta Morphose, e2train Chaired SWAIN Coach MD’s + SSE Angel Investor Author/Prof 1975 2000 JMCA Minerva Maxima Foundations Entrepreneur Portfolio Highwaymen FC+GKH Squash Club+ CVDF + Westbury Bank Manager: Cricket Turnarounds

9. Lucky Breaks: Improving the Odds Lucky Breaks: Improving the Odds Unilever, ACMA London Business School MBA Westbury Homes CFO Chaired 8 companies; today: Zeta, Meta Morphose, e2train Chaired SWAIN Coach CEO’s + SSE Angel Investor Author/Prof 1975 2000 JMCA Minerva Maxima Foundations Entrepreneur Portfolio Random, Random Generated, Objective * e.g. From general IT consultancy into specialist ‘productised’ solution

10. Importance of ‘Lucky’ Breaks- “I’m not alone” Year 3 Year 5 ‘Generalist’ software developer: Sources of Business e.g. ‘Generalist’ software developer: Sources of Business

11.  From Creating Opportunities to Focus…… Focus vs Opportunity – A Key Question?

12. LESS (Market) is MORE (Effective) Chair and Coach MD’s 1975 2000 JMCA Minerva Maxima Entrepreneur Portfolio

13. Go Vertical?  Narrowest viable market definition –E.G. 21- 100 of top UK fund raising charities; –E.G. Owner managed flow line production food plants in S.E. USA between $20 and $200 million p.a.  Relationship Database –Progressively learn and record everything about its members (n.b. permanent and temporary attributes) –Don’t sell; ask for information, offer non threatening real value (white papers, events, performance benchmarks, budget calculators) –Communicate regularly  Establish your Credentials as ‘the leading expert’ in ‘xyz’ for your community –Speak, write, survey –Run events where community meets  Live in your vertical market community

14. From sustained vertical marketing  Sell from strong base of awareness/ credibility /AUTHORITY  With confidence from knowledge/status/proven applicability knowledge/status/proven applicability Prepare for a medium term investment; accept early bonuses

15. The Entrepreneurial Journey*  With deep expertise.... Network -> Needs  Opportunities (to use Deep Expertise)  Innovate ‘Offering’  Find that first customer  FOCUS on tightly defined market  Live in that Market -> Authority -> Leadership  Branch out incrementally *Re: Knowledge based B2B service (not ‘e’ led). Low Investment; Low Risk; Ethical.

16. The Entrepreneurial Journey*  With deep expertise.... Network -> Needs  Opportunities (to use Deep Expertise)  Innovate ‘Offering’  Find that first customer  FOCUS on tightly defined market  Live in that Market -> Authority -> Leadership  Branch out incrementally *Re: Knowledge based B2B service (not ‘e’ led). Low Investment; Low Risk; Ethical.

17. Key Lessons from my Portfolio phase  Perspective –Knowing your required outcome, being able to stand outside a situation/your organisation and ‘look back in’  Leadership AND Management of Others and Self –Personal Qualities/Values –Techniques/Processes  Alignment/Commitment –Cornerstone team –Internal –External  ‘Less is more’ Business Plans –Wasted effort and counter productivity of overly detailed plans (published vs. input?) –Plan B (Focus vs. Opportunity) –‘On a Page’/Weekly Reports –Maximise Delegation + Freedom of Action/ Avenue of Correctness –A ‘Bias for Action’ ;Successful Leaders ACT “as if …….”  The Value of a good Coach/Mentor/Chairman + Training in ‘(Relevant) Networking/ ’ Professional sales capability/Negotiating skills

18. Chinese Entrepreneurs Global (CE Global), 24th February 2010, Imperial College, London Effective Entrepreneurship THANK YOU Chinese Entrepreneurs Global (CE Global), 24th February 2010, Imperial College, London Effective Entrepreneurship THANK YOU For further questions and comments: John Caines jmc@eqap.comjmc@eqap.com + 44 (0) 7785 253539 www.johncaines.com www.johncaines.com jmc@eqap.comwww.johncaines.com

19. Chief Alignment Officer?

20. My World and Yours * * For info: www.cotswoldshuttle.com

21. Professional Selling  To put yourself in your Buyers’ mind set  Understanding where they (and you) are in the process  To avoid wasting your time on no hopers  To avoid death by non decision  To know when and how to achieve your fair share of the value you are providing c.=Achieving your required outcome without use of formal authority