What is entrepreneurship and how is it distinctive v2
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What is entrepreneurship and how is it distinctive from small business education? An invited address at the California Indian Manpower Consortium 2014 Leadership Training for Entrepreneurial/Small Business/Economic Development February 5‐7, 2014: Pala Casino & Spa Resort Pala Band of Mission Indian, Pala California Peter H. Hackbert Director, Entrepreneurship for the Public Good Program Berea College Berea, Kentucky
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This presentation is influence by Gary Schoeniger, author and course creator of the Ice House Entrepreneurship Program, a project was developed through a partnership with the Kauffman Foundation and the Entrepreneurial Learning Initiative. Steve Blank, author of The Four Steps to the Epiphany, The Startup Owners Manual, and the developer of the Lean LaunchPad Curriculum has also influenced my preparation. In this presentation, I’ll discuss some challenges we face in terms of how we currently defined entrepreneurship, both from an academic as well as an economic development perspective.
Transcript of What is entrepreneurship and how is it distinctive v2
What is entrepreneurship and how is it distinctive from small business education?
An invited address at the California Indian Manpower Consortium2014 Leadership Training for Entrepreneurial/Small Business/Economic Development
February 5‐7, 2014:Pala Casino & Spa Resort
Pala Band of Mission Indian, Pala California
Peter H. HackbertDirector, Entrepreneurship for the Public Good Program
Berea CollegeBerea, Kentucky
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What we Used to Believe
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Entrepreneurship can’t be taught
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What We Now Know
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Entrepreneurship can be taught to those that volunteer
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Not Easy
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2 Kinds of “E” activities
Necessity
Opportunity
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'Moses' of the Choctaws Led the Indian Tribe to ProsperityWall Street Journal, Feb 6, 2010
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Kauffman Index of Entrepreneurial Activity
• In 2012, every month, an average of over 3.4 out of 1,000 adults created a new business –540,000 new businesses (2002 = 623,000)
– 4.4 men 2.7 women– 5.2 Latinos– 3.2 Asian – 2.3 African Americans– 5.1 Native Americans
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Kauffman Index of Entrepreneurial Activity
Kentucky had 10th highest entrepreneurial activity rates – 3.8 per 1,000 adults
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Kauffman Index of Entrepreneurial Activity
California had 3rd highest entrepreneurial activity rates – 4.1 per 1,000 adults
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Minority‐Owned Businesses by the Numbers
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What we Used to Believe
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Entrepreneurship education = years in school or tons of money
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What we Used to Believe
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Startups are a Smaller Version of a Large Company
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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What We Now Know
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Startups SearchCompanies Execute
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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All you need is the 5‐Year Forecast
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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What we Used to Believe
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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No battle plan ever survives contact with the enemy.
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/4/7/2014 CIMC Entrepreneurship Training, Peter H Hackbert, EPG, Berea College 44
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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More startups fail from a lack of customers than from a failure of
product development
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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Planning come before the plan
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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We Now Know How to Make Startups Fail Less
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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How?
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Entrepreneurial Education begins with the Search for a Business
Model
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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What’s A Company?
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A business organization which sells a product or service in exchange for
revenue and profit
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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What’s A Startup?
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A temporary organizationdesigned to search for a repeatable
and scalable business model
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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A Startup aims to become a company
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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Putting Search first is a radical educational and training technology
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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It is not the customer’s job to know what they want.
‐ Steve Jobs
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“If I had asked people what they wanted, they would have said faster horses.”
‐ Henry Ford4/7/2014 CIMC Entrepreneurship Training, Peter H Hackbert, EPG, Berea College 62
Maximizing learning (about the customer) per unit time
Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/
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Startups that succeed are those that manage to iterate enough times before running out of resources.
‐ Eric Ries, The Lean Startup
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Life’s too short to build something nobody wants.
‐ Ash Maurya, Running Lean
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Customers don’t care about your solution. They care about their
problems.
– Dave McClure, 500 Startups
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Unique Value Proposition: Why you are different and worth buying
getting attention.
Source: Al Ries and Jack Trout, Positioning: The Battle for Your Mind
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Failing to build a path to customers is among the top reasons why
startups fail
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Search
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Search Growth
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Search Growth Obsolescence
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Search Growth Obsolescence
Ambiguity and uncertaintyValues and ethical structuresRecognizing opportunityFacilitating groupsMarshaling resourcesAdvocating for change
Entrepreneurship for the Public Good
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Search Growth Obsolescence
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Growth Obsolescence
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Growth Obsolescence
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Growth Obsolescence
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
Globalization New technologies Increased
competition Shrinking relevance Commoditization Scarcity of resources Regulatory changes Entrenched systems Outdated
assumptions Arrogance Denial
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
Globalization New technologies Increased
competition Shrinking relevance Commoditization Scarcity of resources Regulatory changes Entrenched systems Outdated
assumptions Arrogance Denial
4/7/2014 CIMC Entrepreneurship Training, Peter H Hackbert, EPG, Berea College 82
Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Growth Obsolescence
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
Innovation Large scales
initiatives Acquisitions Processes Careful planning In‐depth research &
analysis Known brands Known customers Established channels Experienced
managers Executive of plans Measured results
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Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
Innovation Large scales
initiatives Acquisitions Processes Careful planning In‐depth research &
analysis Known brands Known customers Established channels Experienced
managers Executive of plans Measured results
4/7/2014 CIMC Entrepreneurship Training, Peter H Hackbert, EPG, Berea College 86
Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
Innovation Large scales
initiatives Acquisitions Processes Careful planning In‐depth research &
analysis Known brands Known customers Established channels Experienced
managers Executive of plans Measured results
4/7/2014 CIMC Entrepreneurship Training, Peter H Hackbert, EPG, Berea College 87
Search
Interaction Listening Observation Experimentation Adaptation Naivety Curiosity Creativity Critical Thinking Communications Problem Solving Commitment Marshal
resources
Replication Management Planning Processes Systems Efficiency Improvement Formulaic Policies Procedures Control Compliance Conformity
Growth Obsolescence
Innovation Large scales
initiatives Acquisitions Processes Careful planning In‐depth research &
analysis Known brands Known customers Established channels Experienced
managers Executive of plans Measured results
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Search Growth Obsolescence
One Page Business Plan
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