29-07-2016

Unit 1: The Entrepreneur

Manufacturing - __________________
Retailer / wholesaler - _______________
Transport Business - _________________
Movie Theatre - _____________________
Software Developer - __________________
Construction -__________________

29-07-2016

Government??
NGO??
Social Entrepreneurs???

Education
Flight Training Adelaide 2010 2011
Commercial Pilot's License & Multi Engine Command Instrument Rating
University of Leeds
Master of Arts (MA), Terrorism & Security
2009 2010A broad but detailed study into factors contributing to stability, governance,
nuclear proliferation and strategy, combined with an analysis on terrorism; determining its
causes, success rates, terrorist psychology and common patterns, as well as establishing likely
future targets and methods of attack.
University of Leeds
Bachelor of Science (BSc) (Hons), Aviation Technology & Management
2006 2009A study of Maths, Physics and Chemistry in an aviation context. A third of the
course was devoted to business management and marketing, both for airlines and nonaviation related businesses. I was the leader of the Award-Winning Merlin Aircraft Design
team that created the "Oblivion Aircraft" - A super efficient blended wing body superfreighter aircraft titled "Most innovative design" and noted by the highly reputable Royal
Navy Test Pilot, Eric Brown, for its stability and handling characteristics without the need for
flight computers.
Sherborne School A Levels: Physics, English & Art 2001 2006

29-07-2016

Leo De Watts, 27

Leo De Watts is minting money literally out of thin air.

Idea copied from Vitality Air

29-07-2016

Between January 1, 2016 and Chinese New Year (February 8),

- sold around 150 jars at 80 each.
Customers buy these jar for a number of reasons either for
themselves as a lavish statement of their personal financial
status, or as a gift for friends, relatives, business associates, or
as an item of environmental art.
Heritage style jars, with their printed design and packaging, all
hint that they are series of artworks, and are highly collectable

Steve Gadlin
Works as a website
development manager
for Weigel
Broadcasting in
Chicago. By night, he
works on his many
creative pursuits, which
include comedy and
stage shows
and IWantToDrawACat
ForYou.com, which he
called "a social
experiment
For $9.95, Gadlin draws cats in whatever manner you desire (fat, small, wearing a hat,
tap-dancing, etc) and mails you the result. The idea was so catchy the business grossed
more than $300,000 in cat drawings and merchandise

29-07-2016

Why does anybody want to be

Entrepreneur?

What are the essentials to be an

Entrepreneur?

Passion & Motivation

Patience
Risk Taking
Self Belief hard work
and dedication
Adaptability &
Flexibility
Understanding the needs
of the customers

Money Management
Planning
Networking
Being prepared to exit
Challenging yourself

29-07-2016

Innovator
Imitator
Fabian
Drone

Necessity Entrepreneurs
Opportunity Entrepreneurs

Session: 4

29-07-2016

Ecomonegros Marcen
Sister (Spain)

29-07-2016

For six months I approached various channels, but no one was

convinced. Dealing with the commercial and ad sales people was
crushing - Charu Sharma, Mashal Sports

Technical Manufacturer of Products

Non-technical Marketing Agency
Professional Serial Entrepreneurs

Trading Entrepreneurs
Industrial Entrepreneurs
Corporate Entrepreneurs Intrapreneur
Social Entrepreneurs
Agricultural Entrepreneurs
Pure Entrepreneurs
Induced Entrepreneurs
(Family; Culture; Government
Initiatives; Support Groups

29-07-2016

What are the Benefits for

Society?
Nation?

Model of Entrepreneurial Process Affecting National Economic

Growth

Better Standard
of living
VIT

Jobs

Demand for
other goods
and services

New Businesses

Factors affecting Entrepreneurs

Finances

Procedures

Industry Scenario

Lack of Knowledge

Session 5

29-07-2016

What Entrepreneurs Get Wrong

Starting late
Failing to listen
Offering discounts
Failing to seek strategic buyers
Youre Too Small
Efficacy
Credibility
Size
Price
Switching costs
A Sales Framework for Start-Ups

#1 Dan Sullivan of Strategic Coach

An entrepreneur is someone who does not expect compensation until he
has created value for someone else.
#2 Jean-Baptist Say, French Economist
Entrepreneur is someone who takes resources from a lower level of
productivity and raise them to a higher level.
#3 Peter Drucker, Renowned Management Guru
An entrepreneur searches for change, responds to it, and exploits it as an
opportunity. Innovation is the specific tool of entrepreneurs, the means by
which they exploit change as an opportunity for a different business or a
different service.
#4 Ray Ash, co-founder of Litton Industries
An entrepreneur tends to bite off a little more than he can chew hoping
hell quickly learn how to chew it.

#5 Michael Gerber, Author and Entrepreneur

The entrepreneur is our visionary, the creator in each of us. Were born
with that quality and it defines our lives as we respond to what we see,
hear, feel, and experience. It is developed, nurtured, and given space to
flourish or is squelched, thwarted, without air or stimulation, and dies.
#6 Tom Peters, Management Thinker Extraordinaire
An entrepreneur is occasionally exhilarating, and almost always
exhausting. Only unbridled passion for the concept is likely to see you
through the 17-hour days (month after month) and the painful mistakes
that are part and parcel of the start-up process.
#7 Victor Kiam, Former owner of New England Patriots
Entrepreneurs are risk takers, willing to roll the dice with their money or
reputation on the line in support of an idea or enterprise. They willingly
assume responsibility for the success or failure of a venture and are
answerable for all its facets.

10

29-07-2016

#9 Robert Callington
An entrepreneur is someone, who practices business judgment in the face of
uncertainty of the future.
#10 Dick Costolo, CEO of Twitter
The key is to just get on the bike and the key to getting on the bike is to
stop thinking about there are a bunch of reasons I might fall off and just hop
on and peddle the damned thing. You can pick up a map, a tire pump, and
better footwear along the way.
#11 Nolan Bushnell, founder of Chuck-E-Cheese and Atari
The critical ingredient is getting off your butt and doing something. Its as
simple as that. A lot of people have ideas, but there are few who decide to do
something about them now. Not tomorrow. Not next week. But today. The true
entrepreneur is a doer.. not a dreamer.

Entrepreneur, Manager, Intrepreneur ?

Business owner may

have owned a business
for years, but
may never really have
experienced true
entrepreneurship

Business Community

E-Myth
Michael Gerber

Entrepreneurs

Managers

Business Culture

Technicians

CSR

Socio;
Economic
Regulatory
Climate

Work on their business vs. work in their

business

11

29-07-2016

Timmons Model of Entrepreneurship

Communication

Resources

Opportunity
Business Plan

Ambiguity

Exogenous
Forces

Creativity
Uncertainty

Team

Leadership
Capital markets

12

29-07-2016

Activity
Putting up a stall in Gravitas16

13

29-07-2016

Entrepreneurship Theories
Economic Theories - first half of the 1700s, work of Richard
Cantillon
Resource-Based Theories - focus on the way individuals leverage
different types of resources to get entrepreneurial efforts off the
ground
Psychological Theories - focuses on the individual and the mental
or emotional elements that drive entrepreneurial individuals
David McCLelland, a Harvard emeritus professor - entrepreneurs
possess a need for achievement that drives their activity.
Julian Rotter, professor emeritus at the University of Connecticut, locus of control theory.

Entrepreneurship Theories
Sociological/Anthropological Theories - the various social
contexts that enable the opportunities entrepreneurs leverage.
Paul D. Reynolds -four contexts: social networks, a desire for a
meaningful life, ethnic identification and social-political
environment factors.
The anthropological model - how cultural forces, such as social
attitudes, shape both the perception of entrepreneurship and the
behaviours of entrepreneurs.
Opportunity-Based Theory - Peter Drucker - excel at seeing and
taking advantage of possibilities created by social, technological
and cultural changes.

http://tech.co/top-15-entrepreneurial-countries-world-2015-06

14

29-07-2016

http://tech.co/top-15-entrepreneurial-countries-world-2015-06

The top ten most innovative countries

Country

2015 rank

2014 rank

Switzerland

United Kingdom

Sweden

Netherlands

United States of America

Finland

Singapore

Ireland

11

Luxembourg

Denmark

10

Countries Ranked By Opportunity

Country

Entrepreneurship/Opportunity Ranking

Sweden

Demark

Switzerland

Iceland

Norway

United Kingdom

Austria

Finland

Luxemboug

Hong Kong

10

15

29-07-2016

16

29-07-2016

Entrepreneurship Ecosystem

Bunk bed businesses - The hostel for budding entrepreneurs

By Yogita Limaye BBC News correspondent, Bangalore
On a small yet busy lane in central Bangalore is a three-storey white house with a
bright orange gate.
You might not notice the property when you walk past, but some of India's best
companies of the future may be being dreamed up inside.
The southern Indian city of Bangalore is India's start-up capital.
Entrepreneurs from across the country, and indeed some from around the world, flock
to the city - which is also the centre of India's computer industry - looking for ideas,
investors and office space.
They also need a place to stay, but when you live and breathe entrepreneurship 24
hours a day, having to traipse back to your boring hotel room or dormitory at the end
of the day isn't much fun.
This is where the white house with its orange gate has come to the rescue. Opening its
doors in May of this year, it claims to be India's first start-up hostel.
Offering a home-from-home for budding entrepreneurs, the 20-bed property - the
Construkt Start-up Hostel - enables them to live with like-minded people, and bounce
their business ideas off each other day and night.

More than half of the bunk beds in the hostel are occupied when I
visit. Apart from a kitchen and a laundry machine, it provides those
most essential of services for aspiring entrepreneurs - wi-fi and a
coffee-maker.
One of the walls of the ground floor has been converted into a
blackboard. On it is a calendar grid drawn out in chalk, listing all
the start-up and technology events in the city over the next month.
Among them is a boot camp for start-ups, where they can pitch to
potential investors, and a conference on analysing data.
The founders of Construkt say this is an example of how they help
the residents connect with the city's wider start-up ecosystem.
Most of the hostel's occupants are men and women who've come to
Bangalore trying to zero in on the company they want to set up.
Others know what business they'd like to start, but are in the city
vetting the market.

17

29-07-2016

'Tear apart'
Construkt resident Krishna Elakara is working on creating a fitness
training product.
The 42-year-old is of Indian origin, but has been living abroad all of
his life, most recently in Australia.
On the first floor of the hostel, in a cheerful small room that serves as
a mini-library, he tells me why he's come to Bangalore.
"All the elements you need to put together a start-up, they're here,"
he says. "I'm staying at this hostel because I want to build my network
in the city. Other hostels or hotels usually have tourists, whereas here
you meet people with a similar mind-set."
Downstairs in the semi-circular living room, a so-called "open hack"
session is about to begin. The residents of the hostel come together,
and some of the entrepreneurs share their business ideas with the
group. Krishna is the first to make a presentation. "What's unique
about your idea?" and "Who would you partner with?" are some of
the questions that get thrown at him.

Shashikiran Rao, 36, one of the founders of the hostel, says with a
smile: "We take the idea and tear it apart, and let everyone jump in
and poke holes into it.
"We're very good at it. The idea is to help entrepreneurs develop
their plans."
Aashna Kaur is the next presenter at the session. The 24-year-old has
a degree in business administration, and has been consulting with
start-ups for more than a year.
But now she wants to set up her own company and she's looking at
two ideas - technology that helps solo female travellers, or products
that encourage more Indian women to join the workforce.
Aashna has been at Construkt for more than a week. At around $14
(10.70) a night and $220 a month, I ask her if low cost is the reason
she chose to stay there.
She says she'd get a cheap hotel at the same rate, or perhaps even
lower, but it's the networking opportunities that made her choose the
hostel.

'Market space'
Right now, apart from aspiring entrepreneurs, Construkt is also
drawing people who are still exploring their career choices.
Prerna Gautam is still in university, but has moved from Mumbai to
Bangalore for the summer to work as an intern at Microsoft
Accelerator, an arm of the tech giant that helps entrepreneurs bridge
the gap from idea to execution. She's unsure yet of what she wants to
do when she finishes her degree, but says that her time in Bangalore is
attracting her to a start-up life.
With Construkt hoping to open a second start-up hostel in Bangalore,
analyst Sudhir Singh of consultancy group PricewaterhouseCoopers
says that while it is meeting a market need, he doesn't think it will
become a widespread phenomenon.
"There is definitely a space for something like this, but I don't know if
it'll catch on like wildfire," he says.

18

29-07-2016

"It's where I'm sure a lot of aspiring entrepreneurs would choose to

stay to network, but I'm not sure a well established entrepreneur
would live there unless there are some innovative programmes
they're creating to attract such people to the place."
But back at Construkt everyone seems very happy. There are strains
of music, and people have brought out food and drinks to share.
Some are clicking away at their laptops, while others are talking
about business, technology and politics.
Not very long ago, these men and women would have been called
foolish. Setting up your own company was seen as risky and
impractical in India. Today, I'm told, if you don't have a start-up
idea as you graduate, you'd almost be looked down upon.
It's a life that comes with its own struggles - getting funding, hiring
the right people and paying salaries, to name just a few. But right
now, none of that's scaring off India's youngsters.

19