Enrollment Key : Ent2332

Entrepreneurship

9/10/20 Entrepreneurship – Class 1

Housekeeping
I prefer email as the main means of communicating. I always try to
respond within 24 hours.

nadim.habib@novasbe.pt

Assignments are to be sent by email as well. Please make sure they

are sent with Isabel Silva Carvalho in cc:
isabel.silva.carvalho@novasbe.pt

9/10/20 Entrepreneurship – Class 1

Housekeeping
Grading:

Group Project 50%:

• This is a big class, so will need groups of 6
• If you cannot find a group, please let me know before next class.

Exam 50%:
• Will be based on class materials and discussion. If you come to every class
and do the reading, you will be OK.

9/10/20 Entrepreneurship – Class 1

Housekeeping
Group Project:

Is a Business Plan and a Pitch. The pitches will be booked individually

and will not be held in class. 15 minute presentations plus 10 minute
Q&A.
I will provide you with a range of pitch slots which each group needs to
choose.
Because of that, we will not have class on October 7th. I will remind
you the week before.

9/10/20 Entrepreneurship – Class 1

 Enrollment Key : Ent2332

Entrepreneurship
Discussions on Ideas and Business Concepts

9/10/20 Entrepreneurship – Class 1

1. What is entrepreneurship?

9/10/20 Entrepreneurship – Class 1

 Capitalizing on
opportunities that have
arisen from failure

9/10/20 Entrepreneurship – Class 1

 When existing businsses
create (less/un)happy
customers
OR
When existing businesses don´t
see the changes that allow to do
better
9/10/20 Entrepreneurship – Class 1
Types of failure

1. Local Failure
How visible is
• Bad or non-existant local offer the failure?
• Think you can do better
2. Industry/ Sector Failure Is it possible
to solve
• Existing business models are ripe for profitabily?
change
• You have something that makes you
Can you build
think you can do better it?

9/10/20 Entrepreneurship – Class 1

3 questions

The less visible, the more you can surprise.

How visible is
Customers many times don´t see failure.
the failure?
BUT be careful to ensure it really is failure

Is it possible
to solve Confirmation Bias is probably your biggest enemy
profitabily? Don´t stop looking and listening to people who doubt you

Can you build Building a business and scaling it is not easy....can you bring
it? the right skills to the table

9/10/20 Entrepreneurship – Class 1

3 questions

How visible is
the failure?

Is it possible
Every time the world changes,
to solve these questions are back in play
profitabily?

Can you build

it?

9/10/20 Entrepreneurship – Class 1

2. Why is there so much
entrepreneurship these days?

9/10/20 Entrepreneurship – Class 1

Why so much entrepreneurship?

• Never been easier / cheaper to start a business

• More connected world, more ideas are flowing, and therefore the
world is speeding up
• More speed, means more technological shifts, more exponential
change
• More failures, faster failures

9/10/20 Entrepreneurship – Class 1

3. Why do we all like
entrepreneurship so much?

9/10/20 Entrepreneurship – Class 1

Why is entrepreneurship so popular?
• Individually / Personally
• Ability to choose your own path / seek independence
• Wealth creation
• Change the world
• Organizational Perspective
• The ability to innovate within the company makes us less vulnerable to
challengers and allows us to stay ahead of our competitors
• Societal Perspective
• Entrepreneurial activity can be seen as ”darwinistic” – it ensures weak
companies die quicker and increases economic resilience

9/10/20 Entrepreneurship – Class 1

4. Change is a key driver

9/10/20 Entrepreneurship – Class 1

 SYMPTOMS START 1. More resources are thrown at
APPEARING: the exceptions and the
1. Sales slow or get tougher to » organization tightens rules;

THE WORLD CHANGES

Stable organization with good
close 2. Price becomes important and
results(…)
2. Exceptions to rules start the organisation starts to seek
accelerating cost structures that allow price
1. Focus on efficiency and results competitiveness;
2. Focus on rules and “organisation” 3. More operational errors and
3. Focus on procedures and manuals
failures
4. Profitability becomes a
= THE STRUCTURE BECOMES
(…)
challenge
INTROVERTED 1. The Organization understands
5. Motivation, recruitment and
retention become difficult » the changes...adapts and
inovates
Understand the nature of change…

• Change in consumer behavior

• Education
• Culture
• Wealth

• Change in production possibilities

• Digital
• Technology shifts

• Change in market dynamics

• Scale
• Personalization

9/10/20 Entrepreneurship – Class 1

9/10/20 Entrepreneurship – Class 1
9/10/20 Entrepreneurship – Class 1
5. Innovation tends to be
evolutionary
And not revolutionary, disruptive or explosive

9/10/20 Entrepreneurship – Class 1

Some Definitions

CREATIVITY
Having ideas
The Challenge: How to build relevant
idea generation mechanisms
 Some Definitions

INNOVATION
The conversion of ideas into processes, products or
new business units

The Challenge: How to ensure the

organization implements the good ideas?
6. The source of great ideas

9/10/20 Entrepreneurship – Class 1

7. From idea to business

9/10/20 Entrepreneurship – Class 1

Pulling it all together
• Find a pain, a failure
• Define who feels it and who is willing to pay for it (sometimes the
same person, other times not)
• Think about how much it is worth
• Can you build a solution to it?
• Can you transform the solution into a sustainable business?
• YOU and your skills
• Is there a long term market

9/10/20 Entrepreneurship – Class 1

 Users Payers
Who benefits from our Who pays? Funding
offer? How much do we
Market need?
Dimension?
Pain Pain
What is it? What is the pain we aim
The need? to “heal”?
The problem?
Sales
Operations
Channel Channel
How, and how much Innovation
will it cost?
How do we get to the How do we get to the Idea
user? payer? Why are we
unique?

Offer Offer
What is the product / What is the product /
solution? solution? Production
Operations Unfair
How, and how much will
Price Price it cost? advantage
How our
How much will they pay How much will they pay uniqueness will
to cure the pain? to cure the pain? allow us to profit

9/10/20 Entrepreneurship – Class 1

 1 2
Users Payers

6 8
who is the beneficiary of who pays you?
your offer? Funding
How much do I
Market need?
Is it big enough?
Pain Pain
1,2,3,..
What is the pain? The What pain, problem,
need? The problem? need are you solving for
the payers?

7
Sales

5
Operations
Channel Channel How much does it Innovation
How do you reach the How do you reach the cost?
user? payer? How do you sell? Idea
What is the big
idea? Why are
you different?

3
Offer Offer
What is the product or What is the product or
service that works as service that works as Production
medecin? medecin?
Operations Unfair
How much does it cost?
advantage

4
What gives you
Price Price the edge?
How is it valued? How How is it valued? How
much are they willing to much are they willing to
pay for it? pay for it?

9/10/20 Entrepreneurship – Class 1

Assignment 1
Due by 19:00 on September 15th

Join or Organize a group with 6 members (if you have less, there is a high chance I will allocate more
members to your group)
Discuss ideas using template on next page
Choose one, full out the template, and send it to me and Isabel before the deadline

My email: nadim.habib@novasbe.pt
Cc: isabel.silva.carvalho@novasbe.pt

9/10/20 Entrepreneurship – Class 1

 Insert your business name here

Write about the user here Write about the payer here

Write about the pain for the user here Write about the pain for the payer here

Write about the offer/solution here Write about the price here

List your names and student numbers here

please…….

9/10/20 Entrepreneurship – Class 1