how we think
With the GDP of over $400 billion, Iran is the 2nd largest economy and has the 2nd largest population in the MENA region. Iran —where 67% of the population is under 35, with nearly 5 million university students has the third place in terms of number of engineers. The fastest growing entrepreneurship ecosystem in the world in 2014, is now open after signing the JCPOA with the P5+1.
We believe Iran is land of opportunities for those who make entrepreneurial decisions. We also believe that the best way to start something in Iran is through “Effectual Reasoning”. Effectuation is a logic of thinking that uniquely serves entrepreneurs in starting businesses and provides a way to control a future that is inherently unpredictable.
The five principles, listed below, make up e ectual logic:
- Bird-in-hand – Start with Your Means
- Affordable Loss – Focus on the downside risk
- Lemonade – Leverage Contingencies
- Patchwork Quilt – Form Partnerships
- Pilot-in-the-plane – Control v. Predict
The effectual cycle represents the thinking process in a form used in creating products, markets, and ventures. The above cycle continues as the effectual entrepreneur grows closer and closer to a defined, sellable product(s), complete with committed customers and stakeholders comprising the new market.