Entrepreneurial attitude12-1

Entrepreneurial attitude12-1 - Thinking Entrepreneurially...

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Unformatted text preview: Thinking Entrepreneurially David Y Choi September 11, 2004 Page 2 Thinking Entrepreneurially: Developing the Right Attitude Individuals and companies need to think more entrepreneurially Page 3 Entrepreneurial Traits or Characteristics (1) A successful entrepreneur usually: Sees and seizes a (commercial) opportunity Tends to be doggedly optimistic (perhaps even to a fault) Plans to obtain the physical, financial, and human resources needed for the venture to succeed Page 4 Entrepreneurial Traits or Characteristics (2) You (and your company) are probably not entrepreneurial if you: Are seldom able to see an opportunity, until it ceases to be one (Mark Twain) View the glass as being half empty instead of half-full (unknown) View failing to plan as planning to fail (unknown) Page 5 Entrepreneurial Traits & Characteristics (3): True or False? Entrepreneurs are doers, not thinkers Entrepreneurs are born, not made Entrepreneurs are inventors Entrepreneurs are academic and social misfits Entrepreneurs need luck Ignorance is bliss for entrepreneurs Entrepreneurs experience high failure rates (15 year study of 800K businesses, 50% were operational under the same owners, 18 failed with debt) Entrepreneurs are extreme risk takers Page 6 What are some common Traits attributed to Entrepreneurs? See 10 minute video Page 7 Some Common Traits Attributed to Entrepreneurs (1) Commitment, Determination and Perseverance e.g., willingness to mortgage their house, take cut in pay, etc. Drive to achieve , e.g., internally driven to excel against self-imposed standards Opportunity Orientation , e.g., focus on opportunity rather than resources Self-Confidence and Optimism...
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Entrepreneurial attitude12-1 - Thinking Entrepreneurially...

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