1. Work hard- play smarter

2. Definition Capacity and willingness to a productive venture with all the attendant risks, while seeking profit as a reward. ConceptualizeOrganizeManage

3. Entrepreneurs Are people who launch and run their own businesses. When they start out, they must perform many of the basic functions that professional managers perform. As their companies grow, sometimes, they hire professional managers. Young Bill Gates at work! Bill Gates still at work!

4. Inventors & Entrepreneurs Entrepreneurs are not same as inventors... Inventor might only create a new product. An entrepreneur will gather resources, organize talent, and provide leadership to make it a commercial success Alexander Graham Bell

5. Invention to Enterprises The AT&T Corp., formerly known as the American Telephone and Telegraph Corporation, is as old as the telephone itself. The company that became AT&T began in 1875, in an arrangement among inventor Alexander Graham Bell and the two men, Gardiner Hubbard and Thomas Sanders, who agreed to finance his work. Bell was trying to invent a talking telegraph -- a telephone. He succeeded, earning patents in 1876 and 1877. In 1877, the three men formed the Bell Telephone Company to exploit the invention. The first telephone exchange, operating under license from Bell Telephone, opened in New Haven, CT in 1878. Within three years, telephone exchanges existed in most major cities and towns in the United States, operating under licenses from what was now the American Bell Telephone Company. AT&T has consolidated revenue of over $ 124 billion and employs 294,600 people worldwide. Ranks 8 th amongst Fortune 500 companies.

6. Entrepreneur – Some traits Self-confident and optimistic Able to take calculated risk Respond positively to changes Flexible and able to adapt Knowledgeable of markets Able to get along well with others Independent minded

7. More traits Energetic and diligent Creative, need to achieve Dynamic Leader Responsive to suggestions Take initiatives Resourceful and persevering Perceptive with foresight

8. Large & Medium businesses Many large & medium sized organizations are encouraging their managers to be more innovative and take risks. Example: Dell computers Michael Dell - allows the employees to work more independently, make mistakes and learn from the process. Dell sets “hard to get targets”, lets employees take an “Entrepreneurial” approach and stretch themselves to meet the targets.

9. Wear an Entrepreneur’s hat Business ideaLet us think of a Business idea. Describe the business (products/ services) in detail Market opportunityWhat is the market opportunity for this business ? Sales potential, Target customers, Competition, Price Business plan How to monetize the business idea? How to capitalize on the market opportunity and generate growing and sustainable revenues and profits? What resources do we need for the business ? Capital, Skills, Facilities, Equipment etc. Risks and concernsWhat are the risks involved in the business? Foresee and identify the risks to the business. Think of methods to hedge against these risks.