Martin Lackéus: Entrepreneurial methods – what, why, how, why not?

In the following video playlist Martin tries to expand his insights on entrepreneurial methods, primarily developed(it seems) from his co-authored paper; “Comparing effectuation to discovery-driven planning, prescriptive entrepreneurship, business planning, lean startup, and design thinking”

The major suggestion of the paper is to stress on the complimentary use value of existing methods. Rather than using single methods or methods in isolation(excluding others), the paper concludes that the strengths of effectuation could be used to develop other entrepreneurial methods. Conversely, the strengths of other entrepreneurial methods could be used to shore up the potential weaknesses of effectuation.(Much similar to Model Thinking promoted by Scott Page; A model ensemble is better that a single model)

In the playlist Martin further adds another dimension as a question; Do entrepreneurs even use entrepreneurial methods?.

His answer is no: To quote, “Not really, it seems. Not even those who were educated in them at university use them in practice when working with their own startups.”

I too agree with this observation.

I also think entrepreneurs use all kinds of methods depending on context. Decisions in real world are context dependent. More over I think Greg Fisher’s 2012 paper, “Effectuation, Causation, and Bricolage: A Behavioral Comparison of Emerging Theories in Entrepreneurship Research”, also came to a conclusion stressing the context dependence and complementarity of various models. i.e. “Therefore, at a minimum, the traditional model of entrepreneurship needs to be combined with the emerging models to explain how entrepreneurs behave in the process of launching new ventures”.

Recognition-primed-decision-model

The recognition-primed-decision-model by Gary Klein has a lot of explanatory power when it comes to real world expert decisions. This is why at-least for now I tent to be aligned with RPD’s perspective that the context provides cues and the context decides the ways of thinking. I don’t follow RPD model blindly when it comes to entrepreneurship because Ent is complex and emergent, and there is no real opportunity for people to gain expertise because nothing or very few activities repeat.( Also because of the difference between Expert intuition & Strategic intuition)

THE PLAYLIST

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