1. Entrepreneurship

2. Joe Wehr – mba, crpc Memorex Telex Western Digital Nike
Pineville Tavern
SCORE
Montgomery County Community College
Jako Enterprises

3. entrepreneurship
It’s NOT easy
It’s NOT for everyone
It’s YOURS

4. What does it take? Traits of successful entrepreneurs:
“Success lies in Change”
Identify an Opportunity and take Action
Risk Taker
Thirst for Knowledge
Don’t procrastinate!!!

5. Starting up Keep your day job Save CASH Start it up part-time
Intrapreneurship

6. Business concept Is it Feasible? Is there a Market for it?
Can you make a Profit from it?

7. Nobody does it by themselves
Support system
Advisory Committee
Networking

8. Cash is king Start with a Surplus Know your BURN RATE
Borrowing is costly
Angel Investors vs Vulture Capital

9. Business plan “If you fail to plan, you plan to fail.”
A living document
IKE: “I found battle plans to be useless, but I found the process of planning to be invaluable.”

10. Business plan Description Industry Competition Strategy Organization
Marketing
Operations/Technology
Social Responsibility
Financials

11. Successful entrepreneurs
Bill Gates: College dropout
Michael Dell: Medical Student
Mark Cuban: Salesman
Phil Knight: Running Geek
Richard Branson: Music Critic
Jeff Bezos: Hedge Funder
Oprah Winfrey: Radio Newscaster
Sam Walton: Shop owner
Steve Jobs: Druggie

12. 3 real people Matt M– Compatible Systems, Boulder CO
Matthew K – Marshall Stack, New York NY
Pete X – Unnamed restaurant, Collegeville, PA

13. hiring Construction example: Have multiple crews
Surround yourself with people who are good at what you are not.
Energy Givers vs. Energy Takers
Attract AND Retain talent
Managing: It’s your #1 job!
POSITVE reinforcement
Horrible Bosses – Steve Jobs, 6 direct reports

14. resources Organizations SCORE.org SBA.gov PASBDC.org
The Entrepreneurship Center

15. resources Magazines/Websites Books
Entrepreneur, Inc, Forbes, The Economist, Fast Company
Books
Built to Last – Jim Collins
Screw Business As Usual – Richard Branson
The 4-Hour Workweek – Timothy Ferriss
Seven Habits of Highly Effective People – Stephen Covey

16. Take care of yourself Life/Work Balance The 60 Hour Theory
Don’t burn out. Don’t let your people burn out.

17. Exit strategy Business format Phil Knight vs. Steve Jobs
When will it end?
Retirement Planning

18. Don’t give up
Stay Positive
Do What You Love
Jim Carrey story

19. Questions/comments