Where Science Meets Art
The entrepreneur brings the art, and LDA brings the science
Is entrepreneurship an art or a science? Is it nature or is it nurture? And does it really matter? There is much written about these questions and you would be right to say no one has the exact answer. It does matter though. It matters because an entrepreneur needs to back up their instinct with facts, analysis and a business-specific strategy. If you look at the reasons startups fail only 5% cite burn-out or lack of passion. The other reasons are business-based; they can be overcome by the science of creating and managing a business, not just by the art of ‘thinking outside the box’.
LDA’s approach is to bring together three key elements to provide a rich environment within which the entrepreneur can create, manage and scale their business. These three elements are: knowledge, strategy and people. The diagram below shows how the LDA platform uses iPlaybooks to deliver knowledge and people (Associates) to the development of a business-specific strategy.
In sport a Playbook contains all the possible plays and strategies used by a team. Each play is honed to perfection. They are proven and they are repeatable. Each play executes part of the goal of the Playbook, namely to win. Business has taken this concept and applied the principles of ‘proven and repeatable’ to everything from marketing to innovation.
LDA and our Associates use the same principles to create interactive Playbooks that link together learning and doing. Build knowledge, learn from proven methodologies, and implement that knowledge to create and execute a business strategy based on much more than a “good idea”.
I hear, I know. I see, I remember. I do, I understand.
Confucius 551 to 479 B.C.E
How the LDA Solution works
The illustration above shows the online environment we have created for entrepreneurs. The entrepreneur builds their business knowledge via the Knowledge Bank and the Skills & Operational iPlaybooks. This new knowledge feeds into the Business Master iPlaybook, where our Associates guide the entrepreneur through the stages of creating and executing a strategy specific to their business venture idea. Our Associates further support the entrepreneur through the ongoing management of the business if needed.