MEET U.S. Why Entrepreneurship? Rob Fuller Director of Entrepreneurial Programs Beyster Institute

MEET U.S. “Nothing endures but change …” -- Heraclitus, 500 BC MEET U.S.

Environment of Continuous Change A New Paradigm MEET U.S.

Adaptability Flexibility Speed Aggressiveness Innovativeness Sustainable Competitive Advantage MEET U.S.

Pursue opportunity Leverage resources Build networks Manage risks Create value Entrepreneurs

MEET U.S. “The greatest difficulty in the world is not for people to accept new ideas, but to make them forget about old ideas.” -- John Maynard Keynes, Economist

MEET U.S. Process of creating value by bringing together a unique package of resources to exploit an opportunity. Process Value Resources Opportunity-driven What is Entrepreneurship?

MEET U.S. Entrepreneurship is about starting and running a small business. Entrepreneurs are born, not made. Entrepreneurship is about invention. Entrepreneurs are extreme risk- takers. Entrepreneurship is unstructured and chaotic. Entrepreneurship Myths

MEET U.S. Motivated by achievement Internal locus of control (self- reliant) Calculated risk-taker Tolerant of ambiguity Prefer a degree of autonomy Tenacious (perseverance) Who is an Entrepreneur?

MEET U.S. “There is a natural aristocracy among men. The grounds of this are virtue and talents...” -- Thomas Jefferson to John Adams, 1813

MEET U.S. Character Skills Precipitating Event Decision To Act Action Planning Idea Implementation Resources Risks Model of Entrepreneurial Management

MEET U.S. 4 Ms Management Markets Money Mystique Peer-to-peer learning Experiential learning Training to Improve Skills MEET U.S.

Passionately seek new opportunities Pursue opportunities with enormous discipline Pursue only the very best opportunities Focus on execution Engage the energies of everyone Entrepreneurial Mindset

MEET U.S. Are you an Entrepreneurial Manager?

MEET U.S. Frame the challenge Absorb the uncertainty Define gravity Clear obstacles Finger on the pulse Sustaining Entrepreneurial Management