How can you determine the success of a business venture? A simple answer is that a business is successful if it meets your personal goals, or your vision. A personal vision is a statement of your own criteria for successfully starting and operating a business. The personal vision statement includes lifestyle, professional, and financial criteria.The important thing is to identify the criteria that matter most to you. These criteria will guide you in making a go or no-go decision for your venture. They will help you in deciding whether entrepreneurship is right for you. They will also help you in shaping a business concept that meets your criteria.
Being an entrepreneur is exciting, but it also presents many challenges. Where do you and your company stand now? Are you ready to launch and/or develop a high-growth enterprise? The questions in this assessment can serve as a diagnostic to determine where your company needs to focus its energy. The value of the feedback you receive depends on your honest answer of "yes" or "no" to each question. The feedback advice you will receive on the "Results" page of this file was developed by experienced entrepreneurs, accountants, attorneys, and venture capitalists.
Technology EntrepreneurshipTheory to Practice Seminar2009 Tarek Salah Kamel Management of Technology MSc., Nile University firstname.lastname@example.org
This introduction training was developed initially for the “Entrepreneurship Education Initiative” between Intel and the Arab Science and Technology Foundation (ASTF) using part of the Intel+UC Berkeley Technology Entrepreneurship Challenge training materials. http://entrepreneurship.berkeley.edu/main/GEEI.html This customized version for Egypt is for a 1 full-day FREE seminar for Egyptian Universities senior students (Engineering, Science, …etc.) to prepare them to the concepts of Entrepreneurship and Innovation.
Agenda Introduction to Entrepreneurship Entrepreneurial Process Opportunity Identification Business Strategy Business Plan Writing Basics Startup Company Valuation Model Introduction to Marketing
You receive full recommendation on your answer for the 92 questions in the assessment that you should thoroughly investigate
The entrepreneur Self starter, defines goals as he or she goes alone. Does the important things by himself or herself. Not a good delegator, strong need to control. Charismatic leader, but hard to follow. Extremely strong drive and capacity for work. Reward oriented for money, visible rewards (cars, boats, clubs, etc.) community admiration for accomplishments, prerequisites. Excellent problem-solving abilities. Innovative thinker. Realistic, takes moderate and well calculated risks. Committed to the company.
The professional manager Career oriented with well defined goals. Accomplishes tasks through people. A good delegator and motivator. Good leader and people person. Competitive and politically astute. Reward oriented for cash, visible rewards, status, prerequisites. Experience, ability, and accomplishments are evident. Plays by the rules, not a risk taker. Committed to self, more than company.
Technology adoption life cycle (TALC) Innovators = Technology Enthusiast. People who are fundamentally committed to new technology … techies. Early Adopters = Visionaries. True revolutionaries in business and government to exploit new tech capabilities. Early Majority = Pragmatist. People who make the bulk of all technology infrastructure purchases and do not love technology for its own sake. They believe in evolution and not revolution. Late Majority = Conservatives. Pessimistic to gain any value from technology investment and are price sensitive and are unwilling to pay for any extra services. Laggards = Skeptics. Not to sell to these people but to sell around them LaithKassis (PICTI)
Technology adoption life cycle Mainstream Market Crossing the Chasm Early Market The Chasm LaithKassis (PICTI)
Linking all together Mainstream Market Crossing the Chasm Early Market The Chasm The Valley of Death Scarce funding for early-stage innovation
Trend coupling matrix - example Carlson Consulting
Case study in groups Groups of 5. For the following trends, try to deduce the coupling matrix: Fresh Water shortage in 2015 by 75% People are using GPS equipment the same they are using mobile today Google is selling Geo-maps with details up to 20M below sea level. Visa entry by Arabs to Arab states is canceled Nanotechnology is able to desalinate salty water at a 90% lower price than today. Computer prices are at 90% lower price, with today’s processing power. 1st human robot assistant came into market in 2015. “What If?” Scenario Analysis
The power of technology forecasting Technology Foresight Trend Analysis Scanning Expert Judgment Road Mapping Scenario Planning Carlson Consulting
What is strategy? The basic purpose of strategy is for a company to make a series of Moves to achieve a Sustainable Competitive Advantage. What is Strategy?
What is strategy? “…competitive advantage…is tougher to create and sustain with each passing year….(but)…As hard as it has become to create an edge, some smart organizations are finding new ways to do it…a few standouts …keep creating new competitive advantages, over and over…” Business Week, (Aug. 21-28, 2006, p. 80) To be effective, the moves require careful analyses of: The industry environment and The firm’s internal resources, capabilities, and competencies. Internal Analysis Tools External Analysis Tools
What is Strategy? Strategy Long-Term Direction Tactics Short-Term Direction Strategic Thinking Reasoning about the Long-Term Tactical Thinking Reasoning about the Short-Term Reasoning Inferring consequences from assumptions Long-Term Business Survival requires to strategic capabilities: