Image Credit - Andrea Barisani

          EFFECTUATION

          Entrepreneurship is a skill anyone can learn, not a gift.  Decades of Research into how Expert Entrepreneurs Think and Act Led to Effectuation, a powerful set up principles for Startup Success.

          Want To Learn Effectuation?  Enroll in the New MOOC

          Effectuation in Rio December 5-8, 2022

          Enroll in the New Effectuation Online Course Presented by UVA Darden Professor Sarasvathy
          1,000s
          Of Mentions of Effectuation in Articles and Social Media
          1500+
          Peer-Reviewed Journal Articles About Effectuation (Access Articles)
          100s
          Curricula, Teaching Instruments & Videos (Access Videos)
          Over 7K
          Trained to Teach Effectuation
          Read More about  UVA Darden Professor Sarasvathy

           

          The Effectual World Map - Countries Teaching or Researching Effectuation in the Last 12 Months

           

          Read the Latest Effectuation Stories


          Enter a Door to the Future - Manga Effectuation!

          The passion for scholars and educators in Japan for Effectuation and Young Adults has resulted in the release of Door...


          See UVA Darden Professor Saras Sarasvathy's Address to the EU SME

          UVA  Darden Professor Sarasvathy delivered the prestigious Schumpeter "Innovation in Enterprise lecture to the Small and...


          Collaborative Dynamics at the Forefront: A Glimpse into the 2023 EffectuationConference in Gdaล„sk

          Introduction: A Convergence of Minds and Methods The 2023 Effectuation Conference in Gdaล„sk stood as a testament to the...


          Effectuation Rio - A Recap

          NEW To view a selection of videos from the conference in Rio click the links below!!

          EFFECTUATION IN RIO | 1ยบ Dia -...

          The Principles of Effectuation

          Whether you're new to entrepreneurship or have been creating new ventures for a while, you'll find that there is a science to it โ€“ a common logic that expert entrepreneurs use across industries, regions, and time. This approach is called effectuation. It offers a method for tackling problems and growing your business. Effectuation is based on taking action and exploring possibilities, rather than trying to predict the future. By using this approach, entrepreneurs can be more flexible and adaptable, and they can better navigate uncertainty and risk. So, whether you're just starting out or are an experienced entrepreneur, you can benefit from using the principles of effectuation in your decision-making.

          means
          When expert entrepreneurs set out to build a new venture, they start with their means: who I am, what I know, and whom I know. Then, the entrepreneurs imagine possibilities that originate from their means
           
           

          affordable-loss

          Expert entrepreneurs limit risk by understanding what they can afford to lose at each step, instead of seeking large all-or- nothing opportunities. They choose goals and actions where there is upside even if the downside ends up happening

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          Expert entrepreneurs build partnerships with self-selecting stakeholders. By obtaining pre-commitments from these key partners early on in the venture, experts reduce uncertainty and co-create the new market with its interested participants

          lemonade

          Expert entrepreneurs invite the surprise factor. Instead of making โ€œwhat-ifโ€ scenarios to deal with worst-case scenarios, experts interpret โ€œbadโ€ news and surprises as potential clues to create new markets

           

           

          worldview

          By focusing on activities within their control, expert entrepreneurs know their actions will result in the desired outcomes. An effectual worldview is rooted in the belief that the future is neither found nor predicted, but rather made

           

           

          Effectual Cycle 2022 with Label (600 ร— 270 px)

          Whether you come to this site as a entrepreneurial newbie or a seasoned creator of new ventures, youโ€™ll discover that there is a science to entrepreneurship โ€” a common logic we have observed in expert entrepreneurs across industries, geographies, and time. We call it effectuation

          Listen to a Podcast  About Effectuation

          Podcast Featuring UVA Darden Professor Sarasvathy

          Companies Practicing Effectuation

          Biocon (500 ร— 500 px)
          FUBU (500 ร— 500 px)
          Virgin 500 X 500 logo
          Noma (500 ร— 500 px)-1
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          Husk (500 ร— 500 px)
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          SEE FUBU FOUNDER DAYMOND JOHN TALK ABOUT THE BIRD IN HAND PRINCIPLE

          Daymond John, one of the original Sharks explains to UVA Darden Professor Sarasvathy how you can list the means you have to start a business from looking at the things that surround you.

          View More Effectuation Videos

          SEE VIRGIN'S RICHARD BRANSON DISCUSS HIS CRAZY QUILT

          Before he took on space, he took on Entrepreneurship and Branson's approach was pure Effectuation.

          Books About Effectuation from Around the World

          Effectuation Entwick Cover
          Mia and Tiago Bird Cover
          Effectuation syl Cover
          Effectuation 2e book cover
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          Mia and Tiago Lemonade Cover
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          book
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          See UVA Darden Professor Sarasvathy's Influential Ted Talk

          View an Effectuation Explainer and Dispel Many Common Entrepreneurial Myths

          Enroll in the New Effectuation Online Course Presented by UVA Darden Professor Sarasvathy

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