Bep class session2

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  • 1. BUSINESS ENTREPRENEURSHIP CLASS LECTURE SLIDES FALL 2013 ERDEM OVACIK
  • 2. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 2 FINDING OUT ABOUT STARTUPS What was interesting about the startup you’ve investigated?
  • 3. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 3 XXX
  • 4. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 4 XXX
  • 5. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 5 XXX
  • 6. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 6 THE THREE PATHS
  • 7. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 7 THE DIP THEORY
  • 8. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 8 EVEN WHEN YOU SUCCEED, IT’S TOUGH ON THE WAY • Advancing career • Regular income • Good workplace • Regional clients & opportunities • Great colleagues Time and/or Energy R e w a r d • Uncertain income • No unemployment benefits • Cut back on life’s luxuries • Crappy economy • Work insanely hard • Do everything self • Often, lonely • Can’t bitch about it • Don’t know where it’s going • Industry recognition • Live fully • Wake up and be excited about the day • Do stuff you’re really passionate about • Spend time with family • Travel the world • Afternoon naps • Exciting start • Able to dream everything • Comfort of being new – anything can happen
  • 9. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 9 AND IT MAY GO NOWHERE… • Advancing career • Regular income • Good workplace • Regional clients & opportunities • Great colleagues Time and/or Energy R e w a r d • Uncertain income • No unemployment benefits • Cut back on life’s luxuries • Crappy economy • Work insanely hard • Do everything self • Often, lonely • Can’t bitch about it • Don’t know where it’s going • Exciting start • Able to dream everything • Comfort of being new – anything can happen
  • 10. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 10 PEOPLE HAVE DIFFERENT MOTIVATORS MYERS BRIGGS Intravert Extravert Sensation Intuition Thinker Feeler Judgment Perception Knowing who you are helps you find out where and how you should work vs vs vs vs 4 main personality types SP wants action SJ wants order NT wants creation NF wants purpose
  • 11. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 GUESS WHO IS WHO 4 main personality types SP wants action SJ wants order NT wants creation NF wants purpose Journalist Quantum physicist Investment banker Human resources Teacher Process engineer Sales advocate Business developer Top-notch developer Accountant Lawyer Entrepreneur Priest Lobbyist Design freak
  • 12. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 12 YOU SHOULD HAVE A SPECIAL CONNECTION TO WHAT YOU DO If your business idea is any good, there will be competition. there are 7 billion people on earth who want to make money and something meaningful. there’s always someone ahead. therefore
  • 13. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 13 ENTREPRENEUR CAN MEAN SELF-EMPLOYMENT One-person show. Not scalable: more hours => more income Own boss. BUT Own employee, also. No value generation without you.
  • 14. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 14 BUT THERE IS MORE THAN THAT Create a system, so work doesn’t depend on you Disproportional value creation Own boss. You can take a holiday. You will still be paid. Can also hire a CEO.
  • 15. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 15 ENTREPRENEURSHIP = BUILDING INSTITUTION
  • 16. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 16 THE JOB OF THE ENTREPRENEUR (Inspire People.)
  • 17. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 17 WHY DO YOU NEED TO INSPIRE?  Attract best people to go on a journey with you.  Convince people to invest their money on you.  Get people try your sub-optimal product.  Make media write about your project. BEFORE YOU HAVE MUCH TO SHOW… IT’S ALL YOU.
  • 18. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 18
  • 19. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 19
  • 20. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 20 THINGS YOU NEED / SKILLS YOU NEED EVERY DAY Write blog post Tell your story to random people Motivate people Accounting Sell Sell Sell Do your website Wake up your employee Book meetings Design your logo Get the beers for Friday bar Wait on the phone to speak to tax authority Negotiate with partners Prepare power points Edit email list
  • 21. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 21 STARTUP ENVIRONMENT
  • 22. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 22 STARTUP ENVIRONMENT
  • 23. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 23 STARTUP ENVIRONMENT
  • 24. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 24 STARTUP ENVIRONMENT
  • 25. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 25 STARTUP ENVIRONMENT
  • 26. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 26 STARTUP ENVIRONMENT
  • 27. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 27 STARTUP ENVIRONMENT
  • 28. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 28 STARTUP ENVIRONMENT
  • 29. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 29 STARTUP ENVIRONMENT
  • 30. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 30 STARTUP ENVIRONMENT
  • 31. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 31 STARTUP ENVIRONMENT
  • 32. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 32 STARTUP ENVIRONMENT
  • 33. Erdem Ovacik – Business Entrepreneurship Project – Spring 2013 33 STARTUP ENVIRONMENT