1. Presented by Roni Banerjee Medullus Systems
Entrepreneurship
Presented by Roni Banerjee
Medullus Systems

2. About Me
Business owner, entrepreneur, husband, father to 2 boys (12 and 4)
From India, moved to the US in 1998.
Enjoy strumming guitars, playing golf, cooking and talking geek.
We may not be in the Superbowl this year, but the NY Giants rock!

3. Plan for this hour I will answer these questions – 30 to 45 mins
How to become an entrepreneur
Risks of becoming an entrepreneur
How entrepreneurs shape our economy
Opportunities for entrepreneurs in our society today
I will take any other question you may have – rest of the time
Ground rules!
I will keep it interesting!
I hope you all will keep it interesting by engaging with me.
So feel free to stop me anytime to ask me anything.

4. Entrepreneur?
“The pursuit of opportunities is the essence of entrepreneurship” – Harvard Business, June 22, 2009
Opportunity – a future state that is both DESIRABLE & ACHIEVABLE

5. Exploiting & Exploring
Explore opportunities
Exploit those opportunities to create value in society (economic, political, environment, tech etc)
Monetize – Corporate or Business Enterprise
Not monetize – Social Enterprise
Some explore but never exploit – inventor? (Steve Woz on his own)
Some never explore but exploit – entrepreneur (Steve Jobs)
Some do both – entrepreneur (Mark Z.)

6. MINDSET OF AN ENTREPRENEUR
RAF → RFA
MINDSET OF AN ENTREPRENEUR

7. So how can I become an Entrepreneur?
Think of “holes” in a system, “problems” in our world, need not be complex.
Think about ways to “fill” the hole, “solve” the problem
Research if your solution is “ECONOMICALLY FEASIBLE”
Ask yourself if you are capable of getting it done – get help – who?
You are ready! Go fire, aim as you go.
ALWAYS, ALWAYS, ALWAYS…
…finish your education (it is your only fallback option)

8. Learn to love “selling”
You have to love selling Sell idea to investor Sell idea to co-founder Sell to yourself when the chips are down Sell to the world / customer Sell to suppliers so they give you good pricing, terms Sell to competition! Sell to your family – never fail to love your family EVER

9. A fun exercise!

10. Risks of becoming an entrepreneur
Lose money?
Big ideas do not need a lot of money
Start small, mitigate risk, transfer risk (investor – 3Fs – friends, family, fools)
May take a while to “rake in the green” and/or “make the world better”
Enjoy the journey but keep your eye the destination
Worry about competition?
Competition is healthy. There are bad guys – they will remain bad!
Compete against yourself – everyday.
You are always working?
Passionate people are not working, they are enjoying what they do
Can’t wait to get up and get to work on something that will possibly change the world – for the better!
Any other?

11. Entrepreneurs – shaping our world
Entrepreneurs create value
Tech startups
End world hunger
Movie maker
Space exploration (and exploitation!)
Professional Service companies – lawyers, accountants, graphic designers
Pizzeria
Sports agent (Jerry McGuire!)

12. Opportunities for entrepreneurs today
There has always been opportunities for entrepreneurial activity Opportunities exist within companies – corporate entrepreneurship – IBM changing it’s culture to be like a startup Do not be afraid to fail Fail quick Fail often Fail cheap Don’t always fail – duh!

13. Who fell asleep?