Ways Entrepreneur Wannabes Can Determine What Kind of Business To Start
Waiting for a Kiss from the Muses…   Is Like Waiting for Godot
Agenda <ul><li>Look inside you </li></ul><ul><li>Look outside of you </li></ul><ul><li>Be curious </li></ul><ul><li>Push t...
Look Inside You
Personal Assessment <ul><li>What do you enjoy doing? </li></ul><ul><li>What skills do you have? </li></ul><ul><li>What ind...
Personal Need <ul><li>Gary Erickson, Clif Bars </li></ul><ul><li>Liz Lange, maternity wear </li></ul><ul><li>Sara Blakley,...
Do what you love <ul><li>Coco Chanel, Helena Rubinstein and Elizabeth Arden – fashion / cosmetics </li></ul><ul><li>Yvon C...
Poll <ul><li>Which other entrepreneurs come to mind who met their own (or someone important to them) need and developed a ...
Questions
Look Outside  of You
Unmet Need in the Market <ul><li>Ronald Grzywinski, Milton Davis, Jim Fletcher and Mary Houghton, ShoreBank </li></ul><ul>...
Changes in the Market Opens Opportunity: Technology, Regulation <ul><li>Regulation, MCI and Sprint </li></ul><ul><li>Techn...
Changes in the Market Opens Opportunity: Demographic, Psychographic/Lifestyle, Behavior <ul><li>Children who have autism <...
Changes in the Market Trends Opens Opportunity: Perception <ul><li>Whole Foods </li></ul><ul><li>Method, Seventh Generatio...
Poll <ul><li>Which other entrepreneurs come to mind who took advantage of a change in the market? </li></ul>
Questions
Be Creative
Damn I Should Have Thought of That: The Obvious <ul><li>Gary Burrell  and Min Kao, Garmin-GPS </li></ul><ul><li>Herb Kelle...
Phoenix Rising: Out of the Ashes of Failure Can Come Success <ul><li>Fritz Maytag, Anchor Brewing </li></ul><ul><li>Led by...
Counter Intuitive: Huh! <ul><li>Online book store </li></ul><ul><li>Online video rental </li></ul><ul><li>Low priced store...
Scratch a Niche <ul><li>Bob Johnson, BET </li></ul><ul><li>Rick Alden, Skullcandy  </li></ul><ul><li>Staffing agency  for ...
Poll <ul><li>Which other entrepreneurs typify the creative entrepreneur? </li></ul>
Questions
Push the Envelope
Necessity Is the Mother of Invention: There’s Got to Be a Better Way <ul><li>New Leaf Paper </li></ul><ul><li>Better World...
Bright Idea: May Be Not <ul><li>Zipper </li></ul><ul><li>Ballpoint pen </li></ul><ul><li>Aerosol spray can </li></ul><ul><...
Poll <ul><li>Which entrepreneurs created new processes or new products? </li></ul>
Questions
Have Others  Help You
Your Passion: Dogs Brown Fleas Black Small Exercise Leash Collar Yellow Big Clean-up Walk  Mind Mapping
Your Passion: Dogs Brown Black Exercise Leash Collar Yellow Clean-up Walk  Big Small Fleas Grooming Mind Mapping
Mix and Match <ul><li>Industry expertise </li></ul><ul><li>Passion </li></ul><ul><li>Skills </li></ul><ul><li>Interests </...
Identify Your Reasons For Starting a Business <ul><li>This is personal journey </li></ul><ul><li>There are no right  or wr...
Determine the Additional Support You’ll Need <ul><li>Take classes </li></ul><ul><li>Join industry groups </li></ul><ul><li...
Suggested Reading <ul><li>An oldie, but a goody – Peter Drucker,  Innovation and Entrepreneurship </li></ul><ul><li>Harvar...
Set Your Own Direction
Questions
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Ways Entrepreneur Wannabes Can Determine What Kind of Business to Start

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Do you want to be an entrepreneur, but are clueless about what type of company to start? This presentation will teach a process for seeing the possibilities.

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Ways Entrepreneur Wannabes Can Determine What Kind of Business to Start

  1. 2. Ways Entrepreneur Wannabes Can Determine What Kind of Business To Start
  2. 3. Waiting for a Kiss from the Muses… Is Like Waiting for Godot
  3. 4. Agenda <ul><li>Look inside you </li></ul><ul><li>Look outside of you </li></ul><ul><li>Be curious </li></ul><ul><li>Push the envelope </li></ul><ul><li>Be observant </li></ul><ul><li>Have others help you </li></ul><ul><li>Set your own direction </li></ul>
  4. 5. Look Inside You
  5. 6. Personal Assessment <ul><li>What do you enjoy doing? </li></ul><ul><li>What skills do you have? </li></ul><ul><li>What industry expertise do you have? </li></ul>
  6. 7. Personal Need <ul><li>Gary Erickson, Clif Bars </li></ul><ul><li>Liz Lange, maternity wear </li></ul><ul><li>Sara Blakley, Spanx </li></ul><ul><li>Pierre Omidyar, ebay </li></ul>
  7. 8. Do what you love <ul><li>Coco Chanel, Helena Rubinstein and Elizabeth Arden – fashion / cosmetics </li></ul><ul><li>Yvon Chouinard, Patagonia </li></ul><ul><li>Alice Waters, Chez Panisse </li></ul><ul><li>Ben Cohen and Jerry Greenfield, Ben & Jerry Ice Cream </li></ul>
  8. 9. Poll <ul><li>Which other entrepreneurs come to mind who met their own (or someone important to them) need and developed a successful business? </li></ul>
  9. 10. Questions
  10. 11. Look Outside of You
  11. 12. Unmet Need in the Market <ul><li>Ronald Grzywinski, Milton Davis, Jim Fletcher and Mary Houghton, ShoreBank </li></ul><ul><li>Camille Bressler, Michael Levoshko, Mel Benson, Denise Gallagher, Matt Vinikas, and Marcia Stein, Senior Whole Health </li></ul><ul><li>Rick Alden, Skullcandy </li></ul><ul><li>Jerry Torres, Torres Advanced Enterprise Solutions </li></ul>
  12. 13. Changes in the Market Opens Opportunity: Technology, Regulation <ul><li>Regulation, MCI and Sprint </li></ul><ul><li>Technology, Vonage and Technology, Skype </li></ul><ul><li>Technology, Flickr </li></ul><ul><li>Technology, Netflix </li></ul>
  13. 14. Changes in the Market Opens Opportunity: Demographic, Psychographic/Lifestyle, Behavior <ul><li>Children who have autism </li></ul><ul><li>People who are visually impaired </li></ul><ul><li>Girls who surf or want to </li></ul>
  14. 15. Changes in the Market Trends Opens Opportunity: Perception <ul><li>Whole Foods </li></ul><ul><li>Method, Seventh Generation </li></ul><ul><li>Domini Social Investments </li></ul><ul><li>Borrego Solar </li></ul>
  15. 16. Poll <ul><li>Which other entrepreneurs come to mind who took advantage of a change in the market? </li></ul>
  16. 17. Questions
  17. 18. Be Creative
  18. 19. Damn I Should Have Thought of That: The Obvious <ul><li>Gary Burrell and Min Kao, Garmin-GPS </li></ul><ul><li>Herb Kelleher , Southwest Airlines </li></ul><ul><li>Charles Schwab, Schwab </li></ul><ul><li>William Wang, Vizio </li></ul>
  19. 20. Phoenix Rising: Out of the Ashes of Failure Can Come Success <ul><li>Fritz Maytag, Anchor Brewing </li></ul><ul><li>Led by Dr. Daryoosh Vakhshoori Ahura Scientific </li></ul><ul><li>Douglas Quikut, Ginsu </li></ul><ul><li>Pfizer, Viagra </li></ul>
  20. 21. Counter Intuitive: Huh! <ul><li>Online book store </li></ul><ul><li>Online video rental </li></ul><ul><li>Low priced store, yet employees have benefits </li></ul>
  21. 22. Scratch a Niche <ul><li>Bob Johnson, BET </li></ul><ul><li>Rick Alden, Skullcandy </li></ul><ul><li>Staffing agency for nonprofits and fashion industry </li></ul><ul><li>Fiscal management for nonprofits </li></ul>
  22. 23. Poll <ul><li>Which other entrepreneurs typify the creative entrepreneur? </li></ul>
  23. 24. Questions
  24. 25. Push the Envelope
  25. 26. Necessity Is the Mother of Invention: There’s Got to Be a Better Way <ul><li>New Leaf Paper </li></ul><ul><li>Better World Books </li></ul><ul><li>Organic Valley of Farms </li></ul><ul><li>Yahoo, Google, Amazon, Ebay, LinkedIn </li></ul>
  26. 27. Bright Idea: May Be Not <ul><li>Zipper </li></ul><ul><li>Ballpoint pen </li></ul><ul><li>Aerosol spray can </li></ul><ul><li>Tab to open soft drinks </li></ul><ul><li>Velcro </li></ul>
  27. 28. Poll <ul><li>Which entrepreneurs created new processes or new products? </li></ul>
  28. 29. Questions
  29. 30. Have Others Help You
  30. 31. Your Passion: Dogs Brown Fleas Black Small Exercise Leash Collar Yellow Big Clean-up Walk Mind Mapping
  31. 32. Your Passion: Dogs Brown Black Exercise Leash Collar Yellow Clean-up Walk Big Small Fleas Grooming Mind Mapping
  32. 33. Mix and Match <ul><li>Industry expertise </li></ul><ul><li>Passion </li></ul><ul><li>Skills </li></ul><ul><li>Interests </li></ul>
  33. 34. Identify Your Reasons For Starting a Business <ul><li>This is personal journey </li></ul><ul><li>There are no right or wrong answers </li></ul>
  34. 35. Determine the Additional Support You’ll Need <ul><li>Take classes </li></ul><ul><li>Join industry groups </li></ul><ul><li>Join networking groups </li></ul><ul><li>Network </li></ul><ul><li>Join peer-to-peer mastermind or CEO Roundtables </li></ul><ul><li>Read books and magazines on entrepreneurs and entrepreneurial techniques </li></ul><ul><li>Find a mentor or advisor </li></ul><ul><li>Use a coach </li></ul>
  35. 36. Suggested Reading <ul><li>An oldie, but a goody – Peter Drucker, Innovation and Entrepreneurship </li></ul><ul><li>Harvard Business Essentials, Entrepreneur’s Toolkit, chapter 2 </li></ul><ul><li>Entrepreneur.com </li></ul><ul><ul><li>What's Love Got to Do With It? http://www.entrepreneur.com/startingabusiness/selfassessment/article76120.html </li></ul></ul><ul><ul><li>You're the Inspiration http://www.entrepreneur.com/magazine/entrepreneur/2005/september/79406.html </li></ul></ul><ul><ul><li>Scratch a Niche http://www.entrepreneur.com/magazine/entrepreneur/2005/august/78814.html </li></ul></ul><ul><li>7 Methods in Choosing a Business http://www.powerhomebiz.com/vol72/methods.htm </li></ul>
  36. 37. Set Your Own Direction
  37. 38. Questions

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