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Entrepreneurship: Mapping the Territory

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Colleen Caffrey

on 5 December 2011

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Transcript of Entrepreneurship: Mapping the Territory

Entrepreneurship Mapping the Territory What Does Entrepreneurship Mean to You? "A way of thinking and acting
that is opportunity obsessed,
holistic in approach and
leadership balanced, for the
purpose of value creation and
capture." Obsessed dramatizes the need to be constantly shaping the opportunity
Remember, entrepreneurship
is a full contact sport. The
value comes in the “collision.” Stephen Spinelli, Jr., Ph. D.
1. Market demand
2. Market size & structure
3. Margin analysis The Entrepreneurial Process Maximize and Own Think Cash Last!
Entrepreneurial Team The Key Ingredient for Success! The “lead” entrepreneur is defined by the quality of the team.
Timmons’ Model The Resources
The Opportunity The Team
Business Plan
“Fits & Gaps”
and Control Versus Minimize and 3 Ms A good idea looking for a business model Entrepreneurs' Competitive Advantage IQ+EQ+PQ Opportunity Shaping make the stumble part of the dance Entrepreneurs have... Courage of one's convictions and belief in oneself Willingness to grow Willingness to surmount obstacles and persevere Tolerance for ambiguity Willingness to measure and take risks Intrinsic motivation to complete a task Creating a business model as a high quality solution to an unstructured problem. Solve the immediate problem while still seeing the horizon. Persistence is fueled by belief in the mission The Lead Entrepreneur The Quality of the Team Learning Individually & Organizationally Always "Insight Problem Solving" Versus Creativity new knowledge faster, better, cheaper business models comes from the transformation of creative solutions The difference between insightful problem solving and creativity is Value Creation. An organization of components akin to the Timmons Model
Finish by identifying
an Opportunity Invention Subordinates
Product adoption by
smart people An aversion to risk: “solid
liners” Start with a budget “Establish a firm base”
Entrepreneurship Stephen Spinelli, Jr., Ph. D. All rights reserved
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