DIC Excellence Series April Session - Demystifying Entrepreneurship

8/2/2019 DIC Excellence Series April Session - Demystifying Entrepreneurship

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Harvesting the fruits of Prosperity

Unlock the secrets of financial independence


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What you sow is what you reap

Your output is a function of what you think


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Facts from the Shift Happensorganization

We are currentlypreparing students for jobs that dont exist.

Using technologiesthat havent been invented

In order to solve problems that we dont even know are problems yet

Thats why you need to innovate.

Our Point


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Facts from the Shift Happensorganization

According to former Secretary of Education, Richard Riley

The top ten in-demand jobs in 2015 would not have existed in 2005.

Our Point

Why should you be in thereceivingend?

Why cant you create those jobs?


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The RealitiesDeveloping countries are reaping the fruits of globalization.

Developed countries are facing the lethal consequences of high doses ofcapitalism.

The IronyDeveloped countries are silently building innovation economies.

The ConsequenceDeveloping countries will have to face innovation economies,

like a deer caught in the headlights.


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What does this mean for you?Simple. Are you future-proof?

Entrepreneurship is the only answer.


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Those days are long gone

Job for a lifetime or skills for a lifetime take your pick


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The cubicle debacle

Discover the entrepreneur in you before

getting trapped in one of these


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1. Will your job tomorrow last from your graduation till

yourretirement

2. Even if your job is stable when you are in your 20sand 30s, will it be the same when you are inyour

40s

3. Will your job need a reality check in every decade ofyour working life

4. According to Richard Riley, former US Secretary ofEducation todays graduates will have 14 jobs by the

time they reach age 38


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SO, WHY WAIT?

Dont wait until youve hit 40

Are you building your

entrepreneurship skills right?Where do you start?

Dont get hit with the challengesof the future.

It will be too late to acquire

future-proof skills overnight


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We have just oneanswer to all the questions.


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Possibly, no


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Jobs dont come with anti-ageing cream

Age proof your career


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Beard the lion in its den

In the circus of life, be your own master!


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Be an ideas powerhouse

Be the spark that you can be


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They are not as innocuous asthey seem they are

You can start anywhere, anytime just need to beprepared mentally


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Entrepreneurship is much an opportunityas it is a responsibility

It takes two to tango

Entrepreneurship

Responsibility


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Move Beyond.

Explore Possibilities


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Start Thinking Like a Capitalist

Start with the thought that the onlyreason to start a business is to sellit one day

If you start with that thought thenyou need to make decisions that will

help bring the shareholder value foryou and other stakeholders


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Ask the following questions

When customers refer to mycompany, how would I like them toremember me?

When I eventually look to sell thecompany, can the acquirers relate tomy company the way my customers

can?

Will I be able to establish aleadership position, so that, I showup top in the list when thecustomers or acquirers look for acompany in the XYZ space and

industry for our expertise, domainknowledge etc. etc.

What kind of a multiple is acompany of my type in my industryis getting acquired for in good timesand bad times?

If a financial stakeholder invests$1M in my venture will he/she be

able to take back $10M in 5+ years?


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Classic Entrepreneurship: The Startup

An innovative idea that develops into ahigh growth company

Success, in addition to the strongleadership from the main entrepreneur,

almost always involves building a teamwith complimentary talents

Ability to work as a team and sense anopportunity where others seecontradictions, chaos and confusionare critical elements of success

Most highly successful entrepreneurshave held together a team and acquiredfinancial backing in order to chase anopportunity others may not recognize


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Investigating your Ideas

A simple criterion for the highestpotential venture comes from famedVC Arthur Rock (invested in Apple):We look for ideas that will change

the way people live or work A good idea is nothing more than a

tool in the hands of an entrepreneur.Finding a good idea is the first stepin the process of converting anentrepreneurs creativity into anopportunity

The importance of the idea is oftenoverrated at the expense ofunderemphasizing the need forproducts or services or both, that

can be sold in volume to customers. The new business that simply bursts

from a flash of brilliance is rare.Usually a series of trial & erroriterations is necessary before acrude and promising product orservice fits with what the customer iswilling to pay


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Process to Filter the Ideas

Define your purpose

Choose participants

Choose a facilitator

Brainstorm spontaneously

No criticisms, no negatives

Record ideas in full view

Invent to the void

Resist becoming committed toone idea

Identify the most promisingideas

Refine and prioritize

Ask the basic questions:

Will the customer make money

with your idea?Will the customer save money?Will I make money?


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Transforming Caterpillars into Butterflies

Most new ventures are work inprocess and works of art

Most business plans are obsolete atthe printer

Onset Ventures Partners found that91% of portfolio companies thatfollowed their business plan failed

Speed, adroitness of reflex, andadaptability are crucial

They key to succeeding is failingquickly and recouping quickly


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Whats the Role of an Entrepreneur?

The lead entrepreneurs job is simpleenough carry the deal by takingcharge of the success equation!

In this dynamic context, ambiguity &

risk are actually your friends Entrepreneurial leaders inject

imagination, motivation,commitment, passion, tenacity,integrity, teamwork, and vision intotheir companies

Entrepreneurs face dilemmas andmust make decisions despiteambiguity and contradictions. Veryrarely is entrepreneurship a get-rich-

quick proposition, on the contrary, itis one of continuous renewal


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Opportunity Analysis

What are the fits and gaps?

Whats wrong with the opportunity?Whats missing?

What favorable events can happen,as well as the adverse?

What has to happen to make itattractive and a fit for me?

What market, technology,competitive, management andfinancial risks can be reduced oreliminated?

What can be changed to make thishappen?

Who can change it?

What are the least resourcesnecessary to grow the business thefarthest?

Is this the right team?

In essence, manage and redefine therisk-reward equation


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When is an Idea an Opportunity?

If an idea is not an opportunity, whatis an opportunity?

An opportunity has the qualities ofbeing attractive, durable, and timelyand is anchored in a product or

service, which creates or adds valuefor its buyer or end user

For an opportunity to have thesequalities, the window ofopportunity is opening and remainsopen long enough

Entry into the market with rightcharacteristics is feasible and themanagement team is capable ofachieving it

The venture is able to achieve acompetitive advantage.

Focus on what the customers andmarket place want and do not lose

sight of this!


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Discover the entrepreneur

in you.

Realize the job skills you

need for the future.


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So, why not discover how Unipropitia can help youtake a fundamental decision about you for a

lifetime?


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Because the entrepreneurial spirit is the basisof success.

-His Highness Sheikh Mohammed bin Rashid Al Maktoum,Prime Minister of the UAE and Ruler of Dubai.


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DIC Excellence Series April Session - Demystifying Entrepreneurship

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