Why Your Dynamiqe Profile Matters at Pivotal Moments



Need Help With Making The Right Decision?  

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Entrepreneurship is about taking the right decision, at the right time and in the right way. We call these decisions pivotal moments, those turning points in your venture where it could go one way or another.

Think about just a few examples of pivotal moments that all entrepreneurs are likely to face:

•Origination

•Team Formation

•Scaling Up

In this first of a series of articles, we look at how your Dynamiqe profile can help you originate ideas and follow through on the implications of this choice

Origination 

How you come up with an idea for your venture?

Some entrepreneurs begin their journey by developing an idea grounded in their own identity or passions. For example,  Amanda Campbell drew upon her experiences as a hardened festival goer to found Comp-A-Tent. Amanda was outraged by the mess and waste left behind after festivals, particularly the abandoned tents.

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Amanda drew upon her expertise in materials while studying Architecture at UCL, and developed a compostable tent that might have application way beyond the festival scene. Amanda’s original concept however, arose out of her own direct personal experiences.

By contrast, Tio, founded by Peter Spence, Mario Morello and Ashley Wiltshire began with a “vision to inspire tomorrow’s inventors”. Drawing upon their design and engineering expertise, Tio provides the kit to build app-driven toys and inventions with everyday objects and materials. It sparks invention and creativity. This is indicative of many entrepreneurs who are motivated by big, bold change-the-world ideas.

Both Comp-A-Tent and Tio were finalists in the NACUE Varsity Pitch, with Tio winning the top spot! Both look to me as if they are on track to be highly successful start ups, so clearly the differences in the way they were originated is not a question of “right” or “wrong”. It might, however, make a difference to the scale up strategy, with Tio having a larger group of co-founders and needing to acquire resources to grow more quickly.

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Tio are launching a Crowdfunding campaign on Kickstarter (February 23, sign up here). Comp-A-Tent are growing via partnerships within the festival industry and are pursuing (excuse the pun) a more organic strategy.

The key point is that these decisions about how to originate your start up idea can be conscious choices, with implications further down the track.

The Dynamiqe instrument helps founders critically reflect on the key choices they have to make, and highlights the implications of these choices.

Talking about the Dynamiqe instrument, Mario Morello, Tio’s co-founder says:

“Dynamiqe is a very useful tool for an ongoing evaluation of the strategic direction you are taking. In particular, Pivomo’s mentorship throughout the NACUE Varsity Pitch helped us to consider other applications for our product.”

The resulting Dynamiqe analysis places the user in one of four primary profiles: Driver, Director, Dealer and Creator, each likely to adopt very different approaches to the origination of a business concept.

Driver:

Formulates a big bold innovative vision about the future, often based on technology or inventions they have developed

Director:

Develops a business plan with others, based on careful analysis and research of market needs

Dealer:

Originates business opportunities by “rain-making”, using networks and exploiting rapid shifts in market needs

Creator:

The business concept emerges from the creative process, which generates unique emergent products fuelled by a passion for quality and excellence

The Dynamiqe report outcomes can be shared with the User’s team or mentor, so that the implications can be thought through and the best strategy adopted. For example, for a founder who has a deep personal attachment to their idea, it can often be difficult to share that with others and build a team to support the venture. Equally, trying to develop a business concept through consensus can also be a frustrating affair and good ideas can get lost in the consensus building process. These are not easy choices.

Sample Dynamiqe Profile

The Dynamiqe instrument can help founders think through what is right for them. There are no right or wrong answers, only personal choices shaped by entrepreneur’s mindset, social preferences and specific work styles.

The key is to build awareness early on so that you can make the most informed decision possible

Click here to generate your own Dynamiqe profile

 

roylastlastlast-2Dr. Andrew Atter

Founder and CEO,

Pivomo