PRACTICING

ENTREPRENEURSHIP
 Covered Today
A brief outline

Two Main Perspectives on Entrepreneurship

Five Skills Most Important to the Practice of Entrepreneurship
Entrepreneurship as a Method and a Process
Eight Components of the Practice of Entrepreneurship
The Concept of Deliberate Practice
 Predictive Logic
Two Main a form of thinking that sees
entrepreneurship as a linear process
Perspectives on
in which steps are followed and
Entrepreneurship outcomes are—ideally— predictable.

Creation Logic
a form of thinking that is used
when the future is
unpredictable.
 Prediction Creation
TO THE EXTENT WE TO THE EXTENT WE
CAN PREDICT THE CAN CREATE THE
FUTURE, WE CAN FUTURE, WE DON’T
CONTROL IT. NEED TO PREDICT IT.
Theory of
Affectuation

The idea that the future is

unpredictable yet controllable
and entrepreneurs can “effect”
the future.
 SKILL OF PLAY
frees the imagination, opens up our minds to a wealth
of opportunities and possibilities, and helps us to be
more innovative as entrepreneurs.

Five Skills SKILL OF EXPERIMENTATION

Most Important best described as acting in order to learn— trying
something, learning from the attempt and building
that learning into the next iteration.
to the SKILL OF EMPATHY
Practice developing the ability to understand the emotion,
circumstances, intentions, thoughts, and needs of

of others.

SKILL OF CREATIVITY
Entrepreneurship requires a general openness to the world and relates to
unleashing our creative ability to create and find
opportunities and solve problems.

SKILL OF REFLECTION
helps make sense of all of the other actions required of
play, empathy, creativity and experimentation.
Six Ways to Practice
Reflection

narrative reflection,
emotional reflection,
perceptive reflection,
analytical reflection,
evaluative reflection, and
critical reflection
E
N
T AS A METHOD
R A method caters to the uncertainty and
E
unpredictability of entrepreneurship.
P
R
E
N
E
U AS A PROCESS
R
S The process approach to entrepreneurship
H is based on planning and prediction —from
I firm creation right up until firm exit.
P
THE
TRADITIONAL
STEPS
OF AN
ENTREPRENEURIAL
PROCESS
 It applies to novices and
experts regardless of
experience levels.

It is inclusive, which means it

includes any organization at
any stage of business.

It requires continuous practice

ASSUMPTIONS with a focus on doing, then
UNDERLYING THE learning.
PRACTICE
OF It is designed for an
ENTREPRENEURSHIP unpredictable environment.
EIGHT COMPONENTS IDENTIFY YOUR START WITH
OF DESIRED MEANS AT
THE PRACTICE IMPACT ON HAND.
OF THEWORLD.
ENTREPRENEURSHIP

DESCRIBE THE CALCULATE

IDEA TODAY AFFORDABLE
LOSS.
EIGHT COMPONENTS NETWORK AND
OF TAKE SMALL
ENROLL OTHERS
THE PRACTICE ACTION
IN YOUR
OF
JOURNEY.
ENTREPRENEURSHIP

REFLECT AND
BUILD ON WHAT BE HONEST
YOU LEARN. WITH YOURSELF.
 Through the practice, you will
manage to deal with extreme
uncertainty, control it, and use it to
help you create what others cannot.

HOW DO YOU GET THERE?

DELIBERATE PRACTICE
a method of carrying out carefully focused efforts to
improve current performance.
SEVEN COMPONENTS OF
DELIBERATE PRACTICE:
It requires high levels of focus, attention, and concentration.
It strengthens performance by identifying weakness and
improving on them.
It must be consistent and be maintained for long periods of
time.
It must be repeated to produce lasting results.
It requires continuous feedback on outcomes.
It involves setting goals beforehand.
It involves self-observation and self-reflection after practice
sessions are completed.
 Be Inspired

WHILE PASSION IS AN IMPORTANT

QUALITY TO POSSESS, IT IS BEST
GUIDED BY THE ABILITY TO
UNDERSTAND YOUR OWN
CAPABILITIES AND KNOWLEDGE.
“LEARN HOW TO LEARN.”
Productive stupidity means being
ignorant by choice.

GETTING IT WRONG TIME

AFTER TIME, AND FEEL
PERFECTLY FINE AS LONG
AS WE LEARN
SOMETHING EACH TIME.

MASTER THE ART OF LEARNING