Post on 28-May-2020
Enhanced Performance. Enduring Results.1
Richard Larson, PMP, CBAP, PMI-PBAPresident and FounderWatermark Learning
@Rich_Larson
bapmtraining
Enhanced Performance. Enduring Results.©
Define what entrepreneurship means as it applies to project management
Discuss typical entrepreneurial types and traits and how PM skills can contribute to business growth and competiveness
List the keys to being a successful entrepreneur or intrapreneur
After this presentation you will be able to:
Enhanced Performance. Enduring Results.©
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Enhanced Performance. Enduring Results.©
1. Are you a skilled problem solver who can take on important tasks within your company?
2. Do you tend to see trends in your organization before most others?
3. Are you able to spot business problems before projects have been launched to solve them?
4. Are you able to help your business improve its processes, and may recommend features they did not even realize they need?
5. Do you prefer to grow personally along with the company vs. just putting in time?
Adapted from “10 Things Entrepreneurs Need to Know about Intrapreneurship,”by Murray Newlands, www.inc.com
Answer: Usually Sometimes Rarely
Enhanced Performance. Enduring Results.©
“Entrepreneurs are everywhere.” Eric Ries, The Lean Startup
Enhanced Performance. Enduring Results.©
Someone who “undertakes” something and “assumes risks”
“An individual who, rather than working as an employee, runs a small business and assumes
all the risk and reward of a given business venture, idea, or good or service offered for
sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.” Source: investopedia
http://www.investopedia.com/terms/e/entrepreneur.asp
Enhanced Performance. Enduring Results.©
Hamdi Ulukaya, Founder of Chobani Yogurt
Enhanced Performance. Enduring Results.©
“Lifelong” Entrepreneur
“Reluctant” Entrepreneur
“Elder”preneur
Brian Quittner
Linda NagamineLevi StraussCoco Chanel
Judy and Steve Soldinger
???
Enhanced Performance. Enduring Results.©
Someone who “undertakes” something without the same risk
“An inside entrepreneur, or an entrepreneur within a large firm, who uses entrepreneurial
skills without incurring the risks associated with those activities. Intrapreneurs are usually
employees within a company who are assigned a special idea or project, and are instructed to develop the project like an entrepreneur would.” Source: investopedia
http://www.investopedia.com/terms/i/intrapreneur.asp
Enhanced Performance. Enduring Results.©
My Intrapreneurial Journey: Part 1…
Enhanced Performance. Enduring Results.©
”Smart companies want you to become
an intrapreneur because it fuels
business growth and allows them to gain a
competitive advantage in their
industry.”
“Why Companies Want You to Become An Intrapreneur” by Dan Schawbel, Forbes Magazine, Sept. 9, 2013
Enhanced Performance. Enduring Results.©
Change Change Change
Organization Direction and Strategy
Process Improvement
Projects & Programs
BreakthroughInnovation
Enhanced Performance. Enduring Results.©
“58% of managers are either very willing or extremely willing to
support employees…on a new business opportunity
within their company.”
“Why Companies Want You To Become An Intrapreneur” by Dan Schawbel, Forbes Magazine, Sept. 9, 2013
Enhanced Performance. Enduring Results.©
Alan Wizemann, Target Corp.
Sarah Peterson, Target Corp.
Enhanced Performance. Enduring Results.©
Types of Opportunities
Motivation
Internal Politics
From The Lean Enterprise by Trevor Owens and Obie Fernandez
My Intrapreneurial Journey: Part 2…
Enhanced Performance. Enduring Results.©
PM Skills and talents are important for Product Management
…and for innovation and startups
PM Skills and Talents
Enhanced Performance. Enduring Results.©
Entrepreneurial Trait/Skill PM Trait/Skill
Innovation Analyzing, proposing, and designing new solutions to meet business needs
Problem-solving Problem definition, Root-cause analysis, Brainstorming
Observation and experience Observation skills, especially participant observation, Benchmarking
Product testing Ensuring all requirements and product features are tested
Influencing skills Especially needed to be treated as a trusted advisor
Communication skills(especially listening)
Asking great questions and listening carefully to answers, both content and affect of them
Portions adapted from The Reluctant Entrepreneur by Michael Masterson
Which of these do PMs have?
Enhanced Performance. Enduring Results.© 18
CTA #1: How can I apply my PM skills in an
entrepreneurial way?
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Inspiration Passion Commitment
Entrepreneurial Keys
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Inspiration Passion Commitment
Entrepreneurial Keys
“Success is often the result of taking a misstep in the right direction.“Al Bernstein
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“Just because there’s another product on the market like yours doesn’t mean you can’t be a player. Just create a better product.”
Liz Lange, founder of Liz Lange Clothes,Creating a Business You’ll Love
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“Every successful business begins with a good idea.”
Michael Masterson, The Reluctant Entrepreneur
vs.
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Inspiration and Innovationcome from
Experience
What do these examples have in common?
“How you innovate determines what you innovate. Luck plays a role, but it
favors the prepared mind.” Tony Davila, HBR
TIP
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What else do these examples have in common?
Frustration
“Collaboration drives creativity because innovation always
emerges from a series of sparks, never a single flash of insight.”
Keith Sawyer, Group Genius, 2007
TIP
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So…What Inspires You?
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Inspiration Passion Commitment
Entrepreneurial Keys
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Mary Jo Cook Suzanne Sengelmann
Enhanced Performance. Enduring Results.©
Sustains us through
slow times
Fuels our commitment
Customers sense it
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Entrepreneurial Passion
Loving what we do
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“Entrepreneurial passion is never having to say you are bored.”
What are YOU passionate about?
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bhgrealestateblog.com
CTA #2: How can I act more entrepreneurial?
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Inspiration Passion Commitment
Entrepreneurial Keys
“Success is 10 percent inspiration and 90 percent perspiration.”Thomas Edison
Enhanced Performance. Enduring Results.©
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“It’s about people, and people connecting with each other in their day-to-day lives.” Craig Newmark, from Creating a Business You’ll Love
“The craigslist community has grown exponentially…but our philosophy about how we run it hasn’t changed at all.”
Enhanced Performance. Enduring Results.©
Confidence Courage
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Commitment
Competence
Cognizance
“Well Done is better than Well Said.”
Benjamin Franklin
Enhanced Performance. Enduring Results.©
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My Intrapreneurial Journey: Part 3…
”Passion isn’t quite enough. You have to do the hard work,
and the research.” Liz Lange from Creating a Business You’ll Love
Enhanced Performance. Enduring Results.© 35
Your calls to action (PACE Yourself): P – Prepare yourselfA – Analyze opportunitiesC – Commit to your opportunityE - Evaluate your venture
Enhanced Performance. Enduring Results.©
Define what entrepreneurship means as it applies to project management
Discuss typical entrepreneurial types and traits and how PM skills can contribute to business growth and competiveness
List the keys to being a successful entrepreneur or intrapreneur
After this presentation you should now be able to:
Enhanced Performance. Enduring Results.©
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Enhanced Performance. Enduring Results.©
BibliographyCreating a Business you’ll Love – Top Entrepreneurs Share their Secrets, 2011, edited by Ronnie Sellers, Sellers Publishing, Inc. Group Genius, 2007, by Keith Sawyer, Basic Books.The Innovation Strategy Big Companies Should Pursue,” by Tony Davila, Harvard Business Review, June 2014.The Lean Enterprise: How Corporations Can Innovate Like Startups, 2014, Trevor Owens and Obie Fernandez, John Wiley and Sons.The Lean Startup, 2011, Eric Ries, Random House Inc.The Reluctant Entrepreneur, 2012, Michael Masterson, John Wiley and Sons.Your Small Business Adventure, 2014, James W. Halloran, The American Library Association.
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