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Real life Entrepreneur

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Presentation slides from SMU Affliates' Corner about the entrepreneurship path.

Presentation slides from SMU Affliates' Corner about the entrepreneurship path.

Published in: Business

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Transcript

  • 1. The Real Life: Entrepreneur Ready to be an entrepreneur? Eric Meyer
  • 2. FIVE TYPES OF ENTREPRENEURS Rewarded by the Thrive on the challenge Enjoy the chance to chance to work on of building a larger, balance work and something new and more profitable personal life creative business Idealists Optimizers Hard Workers Jugglers Sustainers 24% 21% 20% 20% 15% Get personal High energy people who enjoy satisfaction from being handling every detail of their a business owner own business 2
  • 3. WHO ARE ENTREPRENEURS? Assumes associated risks and rewards 3
  • 4. MYTHS STARTUPS ARE FOR WINNERS (Startups are for losers. 80% failure rate) ITS ALL ABOUT THE IDEA (No! It’s about the execution) EVERYONE ON TECHCRUNCH GETS FUNDED (Better chance winning the lottery) BUILD AND THEY SHALL COME (What makes you so special?) ROADS TO RICHES (Road to bankruptcy) 4
  • 5. MISCONCPETIONS MY BUSINESS PLAN ROCKS! (Everyone is too polite to tell you otherwise) THE INDUSTRY CHANGES FAST (Too fast) I HAVE AN MBA (Like a fish in a pool, there is water but..) I AM A TECH GURU (It’s all about sales and marketing) I WILL DO ANYTHING TO SUCCEED (Knowing when to stop) 5
  • 6. REALITY ANGELS WONT FUND YOU (Yet another entrepreneur) VCs WONT FUND YOU (+$1M turnover?) YOU WILL LOSE YOUR MONEY (It’s nice having a shirt. You will miss it.) NOBODY WILL PARTNER WITH YOU (You have no track record) NOTHING PREPARES YOU FOR THIS (School of hard knocks) 6
  • 7. THE SILVER LINING Should you be an entrepreneur? ABSOLUTELY Perseverance Human Capital Passion Innovation Execution 7
  • 8. Thank You 8