The Entrepreneur Mindset Nor Hashim Abu Samah Coordinator (MSc IT Entrepreneurship) Computer Science & Information Systems Universiti Teknologi Malaysia 07 – 5532239 firstname.lastname@example.org
Scientists & Engineers as ENTREPRENEURS Shift in behavior …. Upward trend – from industry job to entrepreneurship Popular ones: – Larry Page & Sergey Brin - Google – Mark Zukerberg - FaceBook “Makan Gaji” Vs Entrepreneurship
Decision to become an EntrepreneurWhat motivates you to start a business? Bored with Routine job? In Constant argument with your BOSS ? Technical Genius to create a Product ? To solve Financial Problems? To be a Millionaire? Saw an Business Opportunity? Have capital to start a business? Offered to join a Businss Venture ?
Entrepreneur Mind Set …A way of thinking that is Opportunistic, embraces Uncertainty, is Creative & is capable of taking Calculated Risk…. The Product is only One of a very complex enterprise. Technical Skills VS Business Skills The “tell me what you want & I’ll built it” Attitude Trade-Offs among product features & benefits, price, market segments, operations etc. Chaotic & Complex Environment Comfortable with Ambiguity & Uncertainty - Chaos
Entrepreneur Mind Set Flexible in Thinking - Be Prepared to Change Course Not Bound by Formulas, Rules, Linear patterns of Thinking - Thinking “Out of the Box” Non-Linear Process – req to cross “Valley of Death” – An gap bet prod dev & a successful product customers will pay for. – The skills req during Prod Dev are DIFFERENT for Business Skills. Strong Locus of Control – in charge of their destiny Enjoy the Independence of Working for Oneself Solving Peoples Problems VS Monetory Gains
From Bench to Market Business ModelTechnology Commercial Create & Capture Value Product Valley of Death Why technologies don’t make to the market
Culturing Entrepreneurial Values Aspects of Culturing Entrepreneurship – Controlling their own destiny – Maximising self potential – Gaining profits – Planning Orientation – Strategic time mgt – Innovative – Increasing work quality continuously – Willingness to grab opportunities
Culturing Entrepreneurial Values Entrepreneurial Values – Dare to try attitude – Goal setting – Self expectation – Strong – Self confidence – Self initiative – Responsibility – Learning from feedback – Business networks – Willingness to take advice from experts – Systematic task implementation