Entrepreneurship - What it is and what it is NOT

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What is Entrepreneurship anyway? interested to find out?

What is Entrepreneurship anyway? interested to find out?

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  • 1. ntrepreneurship What it is and what it is Not Cell: +972-54-4536568 | Fax: +972-9-7417607 | Email: yair@friedman.org.il 1
  • 2. 1. What is Entrepreneurship anyway? Simply put, it is the integration of opportunity-seeking actions and advantage-seeking actions to design and implement new products / services / business models that create value (paraphrasing Hitt et. al, 2002). Cell: +972-54-4536568 | Fax: +972-9-7417607 | Email: yair@friedman.org.il 2
  • 3. 2. Stupid myths about Entrepreneurship Entrepreneurs are free people, they don’t need to worry and don’t have a boss that is looking over their shoulders. Entrepreneurs only care about going public and are looking for an easy way to make lots of money. Money is the main reason to be an entrepreneur. Entrepreneurs are gamblers. Cell: +972-54-4536568 | Fax: +972-9-7417607 | Email: yair@friedman.org.il 3
  • 4. 3. Entrepreneurs Mix and match a wide variety of elements together and hopefully get something in the end of the process… Resources Opportunity skills Ideas Focus Independence Strategy People Market analysis knowledge Funds Independent thinking Balance Motivations Risk Capabilities Responsibility Cell: +972-54-4536568 | Fax: +972-9-7417607 | Email: yair@friedman.org.il 4
  • 5. 4. Why is entrepreneurship important? Entrepreneurial activity is the driving force of the US and World economy (Thomas Friedman, 2005). Cell: +972-54-4536568 | Fax: +972-9-7417607 | Email: yair@friedman.org.il 5
  • 6. 5. Bankruptcy Closure Entrepreneurship has many phases. Strategizing Building a Culture Growth management Marketing Staffing Fund raising Failure CF management Maturity The Business Plan Creating reporting Systems Building a team Exit (sale, merger, IPO) Cell: +972-54-4536568 | Fax: +972-9-7417607 | Email: yair@friedman.org.il 6
  • 7. Find more presentations and information on my website: www.friedman.org.il Copyright 2014 @ Yair Friedman. All Rights Reserved 7