EntrepreneurshipApr152009_255B1_255D_5B2_5D_1_

EntrepreneurshipApr152009_255B1_255D_5B2_5D_1_ -...

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Entrepreneurship Professor Winn April 15, 2009
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“We were young, but we had good advice and good ideas and lots of enthusiasm”… Bill Gates Some people dream of great accomplishments, while others stay awake and do them” Anonymous Entrepreneurship is living a few years of your life like most people won’t, so you can spend the rest of your life like most people can’t”… Anonymous
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What are these quotes saying to you about Entrepreneurship? You are not too young You have to have enthusiasm (passion) You will need help You have to be different You have to sacrifice for a period of time You can’t just dream -you must act You will be rewarded …maybe in a big way
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Who is an entrepreneur ? A person that creates and innovates to build something of value around perceived opportunities !
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What makes an entrepreneur? Risk taker Creative and innovative Willing to sacrifice Passionate Turns the unexpected into an advantage Persuasive and well spoken Self-starter Team builder and networker Value creator
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Is this important? In the US, over the past 15 years, 93% of all new jobs have been created by small biz In China, over 10 years, entrepreneurs have created 5 million businesses and spawned over 75 million jobs Large businesses have shed millions of jobs during the same period Innovation and Invention have led to leaps of progress in every field-medical, computing, telecom, media & entertainment, transportation, energy…etc, etc
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Do you have to have a big idea to get into this game?. ..NO Not all successful start-ups try to exist in the “suicide quadrant”(new product in a new market) Most have identified a new opportunity in an existing market Entrepreneurial teams need varied skills and range of experience within the company Entrepreneurs will need help-financing, attorneys, accountants and tax professionals supporting the company All businesses need entrepreneurial thinkers
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create or disrupt a market-providing an opportunity to create value? Product or Service innovation
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This note was uploaded on 02/06/2012 for the course SMG SM 122 taught by Professor Roberts during the Spring '09 term at BU.

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EntrepreneurshipApr152009_255B1_255D_5B2_5D_1_ -...

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