“What it Means to be an Entrepreneur” Bootcamp 2015.

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Presentation transcript:

“What it Means to be an Entrepreneur” Bootcamp 2015

“The relentless pursuit of opportunity beyond the resources you currently control__ for the purposes of value creation” Stevenson/Spinelli - Babson Entrepreneurship?

Opportunity Idea - Recognizing a need/solving a problem. + Implementation – Process to understand the market, identify risks and develop both product/service & customers

Time – There is never enough and things have to be done now! Timing is everything in business and comedy Resources Information – Must be comfortable with making decisions with less than all the information.

Resources Team – Must be able to ask for help, favors, contacts, advise… Money – Can cycle between never enough and too much – mostly never enough…

IMAGINING the commercial Opportunity INCUBATING to define Commercializability Mobilizing Resources for Incubating DEMONSTRATING Products & Processes in Commercial Context Mobilizing Resources for Demonstrating MARKET ENTRY to Prove Commercial Viability Mobilizing Resources for Market entry GROWTH & SUSTAINABILITY to Generate Financial Returns Mobilizing Resources for Growth & Sustainability PHASES OF DEVELOPMENT TO CREATE PROOF TRANSITIONS TO MOBILIZE RESOURCES Value Creation - Commercialization

Recognize risk and manage it. “Relentless Pursuit” Be determined and be able to accept failure…potentially many times. Understand what your success is - otherwise you may never stop relentlessly pursuing. Be resourceful in management

“The relentless pursuit of opportunity beyond the resources you currently control__ for the purposes of value creation” Stevenson/Spinelli - Babson Entrepreneurship?