1. Who is an Entrepreneur? Entrepreneur : Insane perseverance
in the face of total rejection.

2. What Is An Entrepreneur?
A vision-driven individual who assumes
significant personal and financial risk to start or expand a business.

3. What Is An Entrepreneur?
ENTREPRENEURSHIP
The pursuit of opportunity
through innovation, creativity and hard work
without regard for
the resources currently controlled.

4. Entrepreneurship
Entrepreneurship—a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced
(This definition of entrepreneurship has evolved over the past two decades from research at Babson College and the Harvard Business School and has recently been enhanced by Stephen Spinelli, Jr., and John H. Muller, Jr., Term Chair at Babson College.)

5. Who is an Entrepreneur? Situational more than personality Age
Flexibility
Age 20 30 25 35 45 40
Age
Distribution
for
Starting Company
Ability

6. Who is an Entrepreneur? Manager’s Opportunities Future Goals Perceived
Capability
Future Goals
Change
Status Quo
Possible
Blocked
Satisfied
manager
Entrepreneur
Frustrated
manager
Classic
bureaucrat

7. The Effective Entrepreneur
Who is an Entrepreneur?
Assertiveness
Objectivity
High
Low X
High X
= Entrepreneur
Analytic
Driving
Low
Amiable
Expressive
Swaine and Tucker
The Effective Entrepreneur

8. Classic Entrepreneurship: The Startup
Raw startup company—an innovative idea that develops into a high growth company
Qualities of a startup company
Strong leadership from the main entrepreneur
Complementary talents and outstanding teamwork of team members
Skill and ingenuity to find and control resources
Financial backing to chase opportunity

9. Desirable and Acquirable Attitudes and Behaviors
Six themes
Commitment and determination
Leadership
Opportunity obsession
Tolerance of risk, ambiguity, and uncertainty
Creativity, self-reliance, and adaptability
Motivation to excel

10. The Entrepreneurial Process
It is opportunity driven
It is driven by a lead entrepreneur and an entrepreneurial team
It is resource parsimonious and creative
It depends on the fit and balance among these
It is integrated and holistic

11. The Timmons Model of the Entrepreneurial Process
Creativity
Leadership
Communication
Opportunity
(2)
Resources
(4)
Business Plan
Fits and gaps
Ambiguity
Exogenous forces
Capital market context
Uncertainty
Team
(3)
Founder (1)

12. A belief that achievement of that state is possible
What Is An Opportunity?
OPPORTUNITY
Recognizing a desired future state involving growth or change
A belief that achievement of that state is possible

13. New Technology
Time for new technologies to reach % of the U.S. Population
Household electricity (1873)—46 years
Telephone (1875)—35 years
Automobile (1885)—55 years
Airplane travel (1903)—54 years
Radio (1906)—22 years

14. New Technology
Time for new technologies to reach % of the U.S. Population
Television (1925)—26 years
Videocassette recorder (1952)—34 years
Personal computer (1975)—15 years
Cellular phone—13 years
World Wide Web—7 years

15. Understand and Marshall Resources
Minimize and control versus maximize and own
Unleashing creativity
Financial resources
Assets
People
Your business plan
Think cash last!

16. The Entrepreneurial Team
An entrepreneurial leader
Learns and teaches—faster, better
Deals with adversity, is resilient
Exhibits integrity, dependability, honesty
Builds entrepreneurial culture and organization

17. The Entrepreneurial Team
Quality of the Team
Relevant experience and track record
Motivation to excel
Commitment, determination, and persistence
Tolerance of risk, ambiguity, and uncertainty
Creativity

18. The Entrepreneurial Team
Quality of the Team
Team focus of control
Adaptability
Opportunity obsession
Leadership
Communication

19. What Is An Entrepreneur?
ENTREPRENEURSHIP
The pursuit of opportunity
through innovation, creativity and hard work
without regard for
the resources currently controlled.

20. ENLIGHTENED SERENDIPITY
Being in the right place
At the right time,
Recognizing it, and
Acting upon it,
APPROPRIATELY and
PASSIONATELY!!!