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INTRODUCTION TO
ENTREPRENEURSHIP.
THE PROFILE OF THE
ENTREPRENEUR
Raquel Antoln Lpez
WHAT IS
ENTREPRENEURSHIP?
WHAT IS ENTREPRENEURSHIP?
The process through which entrepreneurs
(person) establish a new organization
INNOVATION
OPPORTUNITY
ENTREPRENEURSHIP
NEW VENTURE
CREATION
INTRAPRENEURSHIP
CORPORATE
ENTREPRENEURSHIP
Business units
Departments
Ent orientation
ESTABLISHED COMPANIES
A4
Myth or reality:
WHAT IS ENTREPRENEURSHIP?
New Ventures
Organizations that pursue opportunities, are characterized by
innovative practices, and have growth and profitability as their
main goals. (Entrepreneurial ventures)
Most of new ventures are small or micro-companies, but not
always
Small Business
A firm that:
is independently owned, operated, and financed;
has fewer than 100 (250) employees; <1M - 2,5M sales
doesnt necessarily engage in new or innovative practices,
and has relatively little impact on its industry
WHAT IS ENTREPRENEURSHIP?
Spin-off
Independent
company
New
venture
creation
Franchise
Start-up
Start-up: An innovative
and
technology-based
company that develops a
new
technology
or
innovation.
WHAT IS ENTREPRENEURSHIP?
COLLECTIVE ENTREPRENEURSHIP: is the association of
entrepreneurs that results from the combination of skills of a
group of individuals who come together to create and
innovate.
Cooperative
Limited Company
WHY BEING AN
ENTREPRENEUR?
Freedom
Create
Independence
Help
Self-fulfillment
COSTS / BENEFITS
Benefits
Independence
Satisfaction
Financial reward
Self-esteem
Contribution to society
Costs
Business failure
Obstacles
Loneliness
Financial insecurity
Long hours/hard work
Strain on personal
relationships
Compete responsability
Entrepreneurship
Employee
Peer pressure: popular
among your friends?
Family pressure: the risk is
worth taking?
Oppor tunity cost: a job
somewhere else?
KNOWING
ENTREPRENEURS:
THEIR PROFILE
ATTITUDES
SKILLS
ENTREPRENEURIAL
ATTITUDES
Myth or reality:
Entrepreneurs have a
natural desire to take risks
at a higher level than nonentrepreneurs
ENTREPRENEURIAL ATTITUDES:
RISK TOLERANCE
Research studies show that entrepreneurs and traditional managers do
not show differences in natural tendencies or desire to take risks.
Why do entrepreneurs accept risks that traditional
managers may avoid?
ENTREPRENEURIAL ATTITUDES:
SELF-ACHIEVEMENT
Achievement orientation: satisfying objectives addressing challenges
Pursuing changes
Challenging but
attainable goals/targets
ENTREPRENEURIAL ATTITUDES:
SELF-EFFICACY
Self-confidence
Self-esteem
Proactivity
Overconfidence?
ENTREPRENEURIAL ATTITUDES:
PERSEVERANCE
Medium Long term
orientation
ENTREPRENEURIAL
SKILLS/CAPABILITIES
Myth or reality:
Entrepreneurs do not
become successfull on their
first venture
ENTREPRENEURIAL SKILLS:
FAILURE TOLERANCE
Failure: Part of the
Creative Process!
For every 3,000 new product
ideas:
Four make it to the
development stage
Two are actually
launched
One becomes a success
in the market
ENTREPRENEURIAL SKILLS:
CREATIVIT Y
CURIOSITY
OPPORTUNITY
RECOGNITION
PASSION
INNOVATION
FLEXIBILITY
INNOVATIVE
MANGEMENT
ENTREPRENEURIAL SKILLS:
LEADERSHIP AND MOTIVATION
ENTREPRENEURIAL SKILLS:
COMMUNICATION AND NEGOTIATION
Skills to relate to un-known people
Skills to listen to other people
Skills to talk and transmit to other people
Persuative skills
FIND INVESTORS
NEGOTIATE
WITH BANKS
SELL YOUR
PRODUCT/SERVICE
ENTREPRENEURIAL SKILLS:
COOPERATION & NETWORKING
Social capital
Which is the more valuable measure of your social capital?
ENTREPRENEURIAL SKILLS:
COOPERATION & NETWORKING
Social capital
THE ENTREPRENEURIAL
PROCESS
Myth or reality:
It is necessary to have
access to money to become
an entrepreneur
Amazon
Microsoft
Every computer user knows the Microsoft brand. It's the
remarkable and famous software that was once
created in a small Albuquerque garage by Bill Gates
and his friend Paul Allen. Both of them gave more
importance to programming language and software
operations and worked in collaboration with IBM. They
got their first operating system licensed for $80,000.
They kept working hard and some years later they
developed their most impressive and exceptional
operating system, called Windows. Today, Windows is
the most widely used software on the globe. About 80%
of computers worldwide are running this operating
system.
Apple
Apple is another insanely popular international
brand, but few people realize that it was
started in a California garage by three young
men. Steve Jobs, Steve Wozniak, and Ronald
Wayne developed the first Apple computer in
1976 in the garage of Steve Jobs' parents' house.
The Apple I was sold as a motherboard to a local
store for $500 and shortly thereafter, the team
continued on to create the Apple II computer. The
founders' products and company became famous
when they got a break from their Macintosh line
of products, from which they earned millions of
dollars. Now, Apple is leading a technological
revolution with its various devices, including Mac
computers, iPhones, iPods, and iPads.
Disney
Walt and Roy Disney created their first films in their uncle's
garage in 1923. They started their career by creating "Alice
Comedies," which were actually a part of the original Alice in
Wonderland animation series. Disney faced a lot of
hardships in the journey toward success and was only
accepted by investors after enduring plenty of struggle and
strife. Now, Disney is one of the most popular and highestearning media houses and franchises in the world, and is
the leading name in producing cartoons, children's movies,
and animated films.
Hewlett-Packard (HP)
Two friends, Bill Hewlett and Dave Packard, founded HP in Packard's
garage in 1939 with an initial investment of only $538. The product that
eventually boosted their career was an audio oscillator (HP200A), which
was sold to Walt Disney to improve its sound system for the
movie Fantasia. Walt Disney bought eight oscillators and gave HP the
biggest break of its life. Today, the Packard's garage in Palo Alto is
famous as the birthplace of HP and Silicon Valley. Since its inception,
HP has developed into a powerful and active company, developing
various computers, laptops, and other computer-centric accessories with
advanced technologies.
All of these companies started with little investment capital and small
physical space, but hard work and unwavering dedication led them to
huge success. With the same type of passion and determination you,
too, could be the founder of the next $25B+ enterprise.
The entrepreneurial
cycle
BUSINESS MODEL
(CANVAS
METHOD)
IDEA
ATTRACTIVENESS
ASSESSMENT
IDEA
Yes
No
FINANCIAL
VIABILITY
OPPORTUNITY
GROUP
BUSINESS
PROJECT
OPPORTUNITY
EXPLOTATION
OPPORTUNITY
EXPLORATION
CANVAS Method or
Business plan
OPPORTUNITY
ANALYSIS
OPPORTUNITY
RECOGNITION
Identification o a business
idea
THE BENEFITS OF
ENTREPRENEURSHIP IN
SOCIETY