Post on 19-Dec-2015
What is entrepreneurship?
Assuming risk and managing resources in order to capitalize on recognized opportunity.
What is “Intrapreneurship” ?
4 Step Start Up Analysis
• Step 1. Audience assessment
• Step 2. Opportunity assessment
• Step 3. Resource Assessment
• Step 4. Risk Assessment
Mike and Marc
Mike – Web based service providing home delivery of McDonalds food
Marc – International Chain of retail locations selling super long burning light bulbs.
Step 1. Define your Audience• Clearly define who your audience is-
• You?• Investor?• Mentor?• Potential Partner?• Potential Buyer?• Customer?
Mike and Marc
Mike – Web based service providing home delivery of McDonalds food
Marc – International Chain of retail locations selling super long burning light bulbs.
Step 2. Analysis of the Opportunity
•Opportunity recognizers vs. Opportunity Shapers
•Market demand is a key ingredient to measuring opportunity
•Let the customer take you to the opportunity
•Ideas are a dime a dozen, opportunities are few and far between
Opportunity
• Describe the spending habits of your primary target audience vs. tell me about your competition.
• What benefits and attributes will your customer value the most?
• What are the financial outcomes of your competitive advantage?
• Opportunity = 3 M’s; Market demand, Market size and structure, Margin analysis
Opportunity
• How will your business solve your customer’s problem?
• How will your customer view your solution as different from your competitor’s solution?
Mike and Marc
Mike – Web based service providing home delivery of McDonalds food
Marc – International Chain of retail locations selling super long burning light bulbs.
Step 3. What are your Resource requirements?
• Understand and use resources, but don’t be driven by them.
• Resources – Minimize and Control vs. Maximize and Own
Resources
• Some experts feel you are under investing if you are profitable
• Resources are the best place to unleash creativity
• Think cash last / Bootstrapping first
ResourceTeam:
What’s more important, the team or the opportunity?
Which would you prefer:A team with a B idea or B team with an A idea?
Resources
– ask yourself these questions;
• What makes a great follower?
• Are you a great follower?
Great leaders understand how to be a follower
Resources
• Demonstrate your motivation to excel• Demonstrate your commitment and
determination• Demonstrate your tolerance of risk, ambiguity
and uncertainty• Demonstrate your awareness of team locus
of control• Demonstrate Adaptability, leadership,
communication
Mike and Marc
Mike – Web based service providing home delivery of McDonalds food
Marc – International Chain of retail locations selling super long burning light bulbs.
Step 4. Understand the Risk
• You have no strategy until you have said no to several opportunities
• Look for “Risk reducers”, how can I get others to accept a portion of my risk?
• Intelligent risk always pays off.
Mike and Marc
Mike – Web based service providing home delivery of McDonalds food
Marc – International Chain of retail locations selling super long burning light bulbs.
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
to know?
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
to know?
Move your idea through the four step analysisMove your idea through the four step analysis
Opportunity
•Define the Opportunity
•Know the Opportunity
•Understand the Barriers and boundaries
Opportunity
•Define the Opportunity
•Know the Opportunity
•Understand the Barriers and boundaries
Move your idea through the four step analysis Move your idea through the four step analysis
YEAR 1
•Students launch, run, and close
a business venture
• “Just-in-time”classroomlearning
YEAR 1
•Students launch, run, and close
a business venture
• “Just-in-time”classroomlearning
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
To Know?
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
To Know?
Resource
•Minimize and Control
•Be creative
•Cash Last
•Demonstrate whatMakes you valuable
•Focus on the Team
Resource
•Minimize and Control
•Be creative
•Cash Last
•Demonstrate whatMakes you valuable
•Focus on the Team
Move your idea through the four step analysis Move your idea through the four step analysis
Opportunity
•Define the Opportunity
•Know the Opportunity
•Understand the Barriers and boundaries
Opportunity
•Define the Opportunity
•Know the Opportunity
•Understand the Barriers and boundaries
YEAR 1
•Students launch, run, and close
a business venture
• “Just-in-time”classroomlearning
YEAR 1
•Students launch, run, and close
a business venture
• “Just-in-time”classroomlearning
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
To know?
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
To know?
Move your idea through the four step analysis Move your idea through the four step analysis
Risk
•Strategy includesPassing up
Opportunities
•Look for risk Reducers
•Intelligent risk Always pays off
Risk
•Strategy includesPassing up
Opportunities
•Look for risk Reducers
•Intelligent risk Always pays off
Resource
•Minimize and Control
•Be creative
•Cash Last
•Demonstrate whatMakes you valuable
•Focus on the Team
Resource
•Minimize and Control
•Be creative
•Cash Last
•Demonstrate whatMakes you valuable
•Focus on the Team
Opportunity
•Define the Opportunity
•Know the Opportunity
•Understand the Barriers and Boundaries
Opportunity
•Define the Opportunity
•Know the Opportunity
•Understand the Barriers and Boundaries
YEAR 1
•Students launch, run, and close
a business venture
• “Just-in-time”classroomlearning
YEAR 1
•Students launch, run, and close
a business venture
• “Just-in-time”classroomlearning
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
To know?
Audience
•Who am I interested in persuading?
• What do they already know?
•What do I think theyWant to know?
ORWhat do I need
To know?