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2010_Set_1B-_Introduction_and_defining

2010_Set_1B-_Introduction_and_defining - SmallBusinessStats...

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OODLES of Information to Begin Small Business Stats Entrepreneurial Significance Entrepreneurial Firms Entrepreneurs/ E-Culture/ E-Creativity
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In defense of no business plan In defense of no business plan Inc 500 founders surveyed 40% wrote a business plan 65% said they had strayed significantly  from original concept 10 Blunders 
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In defense of no business plan In defense of no business plan Therefore…60% of INC founders did not  create a formal written business plan  before launching The time spent writing the plan in a  rapidly changing environment may close  the window of opportunity Many businesses are started without  capital and thus do not have to be  committed to a plan..higher level of  flexibility
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But… But… If you need capital, you need a plan A plan represents a good signpost in a  fixed period of time It is a selling document It is the end of the E process, not the E  process Explore the different types of business  plan formats and write the most  appropriate version
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Small Small  Business in Canada  Business in Canada www.ic.gc.ca/sbstatistics You will be tested on key stats related to  small business in as per the document… Focus on pages 4-7 of Jan 2009 report
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Owner Goal Characteristics Flippers Stability Seekers (Content) Entrepreneurs (Empire builders) Any point along the spectrum is important, but our  focus in on the ‘empire builders’.  They represent  the highest possible ROI for your economic  development dollar.
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Defining and measuring  Defining and measuring  entrepreneurial activity? entrepreneurial activity? What do you include? Innovations/ Patent filings New product launches New ways of delivering/ retailing/  building New material applications New organizational designs
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The Entrepreneur…  The Entrepreneur…  What are the commonly found  characteristics that form this  unique individual? Walt Disney http://www.youtube.com/watch?v=SvaBBNeRBPU Miton Hershey   http://www.youtube.com/watch?v=pj3JMDa5yW8&feature=related Harley Davidson   http://www.youtube.com/watch?v=9orB5dCOjEU&NR=1   Steven Jobs   http://www.youtube.com/watch?v=Hd_ptbiPoXM
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“The new idea either finds a champion or dies…  No ordinary involvement with a new idea  provides the energy required to cope with the  indifference and resistance that major  technological change provokes… Champions of  new inventions display persistence and courage  of heroic quality.” Edward Schon, MIT “We expect our champions to be irrational.” Tait Elder,  Head of New Business Ventures Division 3-M
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"The reasonable man adapts himself to the  world;  the unreasonable man persists in  trying to adapt the world to himself.  Therefore all progress depends on the  unreasonable man." -George Bernard Shaw 
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