What is entrepreneurial journey?

 The entrepreneurial journey is your exploration to discover if entrepreneurship is right for you.
 As opportunities to learn more about the entrepreneurial process—and about yourself and how you
manage challenges.
 The entrepreneurial journey might also include potential obstacles and barriers that travelers on
this path must overcome.

Learning Objectives
 DISPEL MYTHS ABOUT ENTREPRENEURS.
 UNDERSTAND THE MANY PATHWAYS TO ENTREPRENEURSHIP.
 PREPARE TO BECOME AN ENTREPRENEUR.
 MAKE ENTREPRENEURSHIP A WAY OF LIFE.

SEVEN MYTHS
1. Entrepreneurs start businesses solely to make money.
2. It takes a lot of money to start a business
3. It takes a great idea
4. The bigger the risk, the bigger the reward
5. A business plan is required for business
6. Entrepreneurship is for the young and reckless
7. Entrepreneurship cannot be taught
PATHS TO ENTREPRENEURSHIP
 The home-based entrepreneur
 The serial or portfolio entrepreneur
 The nonprofit entrepreneur
 The corporate entrepreneur
The corporate Entrepreneur
 Entrepreneurial mindset in large corporation:
 Senior management commitment
 A champion or several champions
 A superior team
 Corporate interoperability
 Clearly defined stages and metrics
 Challenge and Opportunities with the Entrepreneur Career Path

CHALLENGE
 Finding the right business opportunity.
 Facing uncertainty and high risk
 Having no previous experience on which to rely.
 Facing failure of some point.
 Finding the right people to help grow the business.
 Needing to work, often without pay, for long hours.
OPPORTUNITIES
 Creating new jobs
 Becoming independent – taking charge of career
 Making a difference
 Doing well while doing good – the potential for Social entrepreneurships
 Doing something the entrepreneur is passionate about supporting the community

PREPARING FOR AN ENTREPRENEURSHIP

 Find a mentor
 Build a professional network
 Learn about entrepreneurs
 Understand personality and Business preferences
 Improve on or acquire new critical skills
 Study an Industry

Understand Personality and Business Preferences

Barriers to self- employment:
 Lack of confidence
 Financials needs
 Startup logistics
 Personal or family issues
 Time constraints
 Lack of skills
CRITICAL ENTREPRENEURIALS SKILLS
 Analysis and critical thinking
 Opportunity recognition
 Resources gathering
 Calculated risk taking
 Time management
 Decision making
 Leadership and people management
 Written and oral communication