9-4-08 - Entrepreneurship I Class Notes 9-4-08 Tollgrade...

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Entrepreneurship I – Class Notes – 9-4-08 Tollgrade – Chris Allison’s company - Started to raise $6 million in 1989 2000 – value of company He is not very tolerant of risk, but one of the key attributes of a successful entrepreneur is “risk-taker” o His dad was a risk-taker He writes for Pittsburgh Quarterly The Entrepreneurial Mind Are entrepreneurs born? He thinks you can improve the success of an entrepreneur by enhancing that person’s management skills Entrepreneurs “think outside the box” An entrepreneur is born with certain innate skills and characteristics, but experiences and learning enhances and builds upon those innate attributes Timmons Says…. Is it common that the founder is still running the company after 5 years from the intial startup? o It is UNCOMMON. Most go on to startup another company The Entrepreneurial Mind: - Adaptability is key - Motivation to Excel
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The Entrepreneurial Mind in Action Acquired skills is more important than inherent traits: o Your experiences are more important with o Cohort marketing – your opinions are based on your personal experiences o Entrepreneurs learn by doing based on mistakes o An opportunity If you are really adaptable, you’ll be successful Find out what customers want and give it to them Solution in search of a problem o Create a product and then find someone to buy it (find a need) Dr. Jekyll and Mr. Entrepreneur It has been said that all entrepreneurs are ADD o Entrepreneurs have a lot enthusiasm and energy o Entrepreneurs tend to be involved in a lot of different things o Fast-paced, exciting, high-energy lifestyle o Chris Allison – very confident demeanor Soul of the Entrepreneur Jim Clark – founder of Netscape Netscape was the first Internet browser From the time he thought of the idea of Netscape to the time he became a
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9-4-08 - Entrepreneurship I Class Notes 9-4-08 Tollgrade...

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