Chapter 3: Small Biz
Entrepreneurs
CharacteristicsCharacteristics &
CompetenciesCompetencies
(RESOURCES)
Example ofExample of
SocialSocial
EntrepreneurshipEntrepreneurship
First…Resources
Resources
Remember BPBP?
• Crain’s Daily alert
• Business Management Daily
• Inc.com
• FastCompany.com
• NY Newsday
• NY Times
• WSJ
Start Reading ...
• Barron’s
• AM NY & Metro
• Hispanic Business
• NY Enterprise Report
• Entrepreneur.com
• Smallbiztechnology.com
Start Re...
• Original Classic: (1700s-1950s) hard worker,
loner, fast learner, socially isolated, risk taker,
seeks wealth
• Idea Per...
• Contemporary Classic (1950s-1980s): hard
worker, loner, fast learner, socially isolated,
risk taker, wealth seeker
• Man...
The Land of Opportunity
The Entrepreneurial Nation
The Entrepreneurial Nation
Next Comes…Next Comes…
YOU?YOU?
SBE Qualities
What Do We ALLWhat Do We ALL
Possess?Possess?
SBE Qualities
• Drive
• Determination
• Hard Worker - ALWAYS working
• Extreme Self - Confidence
• IDEA People – VORACIOUS / INSATIABLE
...
• Pursuit of Learning / Fast Learners
• Self Sufficient
• Socially Connected
• Seek Wealth
SBE Qualities
• Basic Business Competencies
• Industry-Specific Knowledge
• Resource Competencies
• Determination Competencies
• Identif...
ProfessionalismProfessionalism
– Expert Follow all the industry BEST practices, seek
their client’s trust at all times:
• ...
ProfessionalismProfessionalism
– Specialized Owners are passionate about one or a
few of the key business functions:
• Spe...
• Habitual: Owners for a lifetime.
• Growth: Lifetime owners with a primary goal
of success.
• Harvest: Owners with an Exi...
• More than 50% of all US businesses
• Generate more than half of all US jobs
• Issues surrounding Role ConflictRole Confl...
• 36% of entrepreneurs reported reductions in
head count last year.
• Only 8% have added jobs.
• 71% do NOT expect to add ...
Getting HelpGetting Help HELPSHELPS
You Can’t Go At It AloneYou Can’t Go At It Alone
• Linked In Groups
• Meet Up Groups
• WIBO / NYC BSC
• Sunshine NYC
• Alumni Contacts
• Business Network
• Social Network
...
Linkedin
Meetup
Meetup
Twitter
Facebook for biz
Resources
• Investor Forums for Seed/Early Stage Co.’s
• Business Plan Competitions
• Industry Organizations
• Angel Fundi...
Investor Forums
• UNYTECH / Smart Start Venture Forum
(upstate NY venture forum)
• Young Start Up Ventures –
www.youngstar...
Business Plan Competitions
• NYC Entrepreneur Week
• Global Entrepreneur Week
Industry Cluster Organizations
• NY Biotech Assn.
Angel Funding
• NY Angels
• LI Angel Network
SBIR
• Small Business Innovation Research (
SBIR) Grants:
– Industrial & Technology Assistance Corp.
– Marion Ewing Kauffm...
Incubators
• East River Science Park
• Brooklyn BioBAT
• Business Incubator Assn of NY State
• ITAC: www.itac.org
• LIFT: L.I. High Technology Incubator
• Economic Development Corporations
• Small Business Developme...
Other Resources
• Before the Negotiations: What Entrepreneurs
Need to Know About Seed and Early Stage
Venture Capital
• Th...
Other Resources
Other Resources
• Entrepreneurial Learning Institute
• www.Entrepreneurship.org
• Entrepreneur Daily Dose
• Mindset: Tappi...
Other Resources
• Local Chambers of Commerce:
– Bronx
– Brooklyn
– Greater NY
– GVCCC
– Harlem
– Hispanic
– Manhattan
– Qu...
• Entrepreneurial Teams (52%) vs. Solo
Practitioners (48%)
• Business Coaching Enterprises: TAB, VISTAGE,
The Conference B...
Women & Minorities
• www.NAWBO.org
• www.wbenc.org
• www.score.org/minority_resources.html
• www.sba8a.com
• Set-asides: d...
Women & Minorities
Chapter 4:
Small Biz IDEASIDEAS
Creativity, Opportunity &
Feasibility
Where OpportunityWhere Opportunity
Meets Need.Meets Need.
Building a BetterBuilding a Better
Mousetrap.Mousetrap.
• In Constant Contact With and Focus on the
World Around You
• Opportunity Recognition
– Turning Life’s LEMONS Into Lemona...
• Your Passions
• Your Education / Expertise
• Your Family / Fiends
• Your Children
• Strangers
New Business Ideas Come Fr...
• Nature
• Travel
• Your Peers & Fellow Employees
• Existing Competitors
• Brainstorming
New Business Ideas Come From
• SS - Substitute
• CC - Combine
•A - Adapt
• MM - Magnify/Modify
• PP - Put to other uses
• EE - Eliminate
•R - Rearrange...
• Build a UNIQUE Culture
• Define Your Vision/Mission Statements
• Contract Workers vs. Full-time Employees
• Are You Offe...
Creative ProblemCreative Problem
SolvingSolving
That’s How It’sThat’s How It’s
ALWAYSALWAYS BeenBeen
DoneDone
DO IT ApproachDO IT Approach
DD DefineDefine the problemthe problem
OO OpenOpen your mind & applyyour mind & apply
creative techniquescreative techniqu...
Task Owner Contributors Start End Contingencies Status
1. Find
new work
space for
staff
Carol
Jackso
n
2/1 4/1 Available c...
BrainstormingBrainstorming
BrainwritingBrainwriting
The DisneyThe Disney
Creative StrategyCreative Strategy
 DreamerDreamer
 RealistRealist
 CriticCritic
Go through all 3Go through all 3
stagesstages
StarburstingStarbursting
StarburstingStarbursting
IDEA / Issue
Challenge
WHO
WHAT
HOW
WHERE
WHEN
WHY
MetaphoricalMetaphorical
ThinkingThinking
StudentStudent
ServicesServices
HealthHealthWellnessWellness
CareersCareers
AdvisementAdvisementHousingHousing
Major/minMa...
ProvocationProvocation
Attribute ListingAttribute Listing
Student
Development
Career
Services
Counseling Residence
Life
Leadership Internships Crisis Intervention Student Housing
C...
Reframing MatrixReframing Matrix
44 PerspectivePerspective Approach!Approach!
• Product/Service Perspective: Is
something WRONG with the product?
• Plannin...
Problem Perspective:
 X
 X
 X
Planning Perspective:
 X
 X
 X
Potential Perspective:
 X
 X
 X
People Perspective:
...
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
Entrepreneurship Weeks 3&4 Ethan Chazin
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Entrepreneurship Weeks 3&4 Ethan Chazin

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Great tips, resources, best practices and strategies for entrepreneurs, start-ups, professionals and small business owners.to plan launch and grow successful businesses.

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Entrepreneurship Weeks 3&4 Ethan Chazin

  1. 1. Chapter 3: Small Biz Entrepreneurs CharacteristicsCharacteristics & CompetenciesCompetencies (RESOURCES)
  2. 2. Example ofExample of SocialSocial EntrepreneurshipEntrepreneurship First…Resources
  3. 3. Resources
  4. 4. Remember BPBP?
  5. 5. • Crain’s Daily alert • Business Management Daily • Inc.com • FastCompany.com • NY Newsday • NY Times • WSJ Start Reading These
  6. 6. • Barron’s • AM NY & Metro • Hispanic Business • NY Enterprise Report • Entrepreneur.com • Smallbiztechnology.com Start Reading These
  7. 7. • Original Classic: (1700s-1950s) hard worker, loner, fast learner, socially isolated, risk taker, seeks wealth • Idea Person: (1950s-1980s) hard worker, loner, fast learner, socially isolated, risk taker, fame seeker • Small Business Owner: hard worker, loner, avg., socially isolated, risk averse, avg. income seeker SBE Types
  8. 8. • Contemporary Classic (1950s-1980s): hard worker, loner, fast learner, socially isolated, risk taker, wealth seeker • Managerial (1980s-today): hard worker, team player, fast learner, socially connected, risk averse, wealth seeker • Sales (1980s-today): hard worker, team player, fast learner (socially), avg. learner (technologically)socially connected, acceptance seeker, risk averse SBE Types
  9. 9. The Land of Opportunity
  10. 10. The Entrepreneurial Nation
  11. 11. The Entrepreneurial Nation
  12. 12. Next Comes…Next Comes… YOU?YOU? SBE Qualities
  13. 13. What Do We ALLWhat Do We ALL Possess?Possess? SBE Qualities
  14. 14. • Drive • Determination • Hard Worker - ALWAYS working • Extreme Self - Confidence • IDEA People – VORACIOUS / INSATIABLE Curiosity SBE Qualities
  15. 15. • Pursuit of Learning / Fast Learners • Self Sufficient • Socially Connected • Seek Wealth SBE Qualities
  16. 16. • Basic Business Competencies • Industry-Specific Knowledge • Resource Competencies • Determination Competencies • Identifying Opportunities Competencies Core Competencies
  17. 17. ProfessionalismProfessionalism – Expert Follow all the industry BEST practices, seek their client’s trust at all times: • Subcontractors: big firms require subcontractors to meet hundreds of • corporate-dictated procedures • Franchises: corporate parents specify most of the procedures for the business’s operation • International certifications (ISO 9000): small businesses must write in full detail how they will ensure consistency and professionalism Core Competencies
  18. 18. ProfessionalismProfessionalism – Specialized Owners are passionate about one or a few of the key business functions: • Specialized firms tend to generate moderate levels of trust among customers – Minimalized Entrepreneur does everything at the simplest level: • No systematic accounting • Personal sales • Street vendors, swap meets, art fairs Core Competencies
  19. 19. • Habitual: Owners for a lifetime. • Growth: Lifetime owners with a primary goal of success. • Harvest: Owners with an Exit plan. • Spiral/Helical: Fluctuating personal periods of growth then stability determined by personal/ family needs. An Entrepreneur’s Career Paths
  20. 20. • More than 50% of all US businesses • Generate more than half of all US jobs • Issues surrounding Role ConflictRole Conflict and Succession PlanningSuccession Planning: – How you separate family life from your business activities – What if the boss gets hit by a bus? Family Business: It’s Personal
  21. 21. • 36% of entrepreneurs reported reductions in head count last year. • Only 8% have added jobs. • 71% do NOT expect to add new jobs this year. • Nearly two thirds have seen their sales volumes and profitability decrease. • 61% think the economy’s on the WRONG track. Kauffman Foundation survey of entrepreneurs commissioned by Douglas Schoen in 2009. State of Entrepreneurship Today
  22. 22. Getting HelpGetting Help HELPSHELPS You Can’t Go At It AloneYou Can’t Go At It Alone
  23. 23. • Linked In Groups • Meet Up Groups • WIBO / NYC BSC • Sunshine NYC • Alumni Contacts • Business Network • Social Network • Coaches & MentorsCoaches & Mentors Build Your Network NOW!!!NOW!!!
  24. 24. Linkedin
  25. 25. Meetup
  26. 26. Meetup
  27. 27. Twitter
  28. 28. Facebook for biz
  29. 29. Resources • Investor Forums for Seed/Early Stage Co.’s • Business Plan Competitions • Industry Organizations • Angel Funding Options • Business Incubators • Technology/Economic Development Centers • Chambers of Commerce • Others (WIBO, SCORE, SBA, Levin Institute, Kauffman Organization)
  30. 30. Investor Forums • UNYTECH / Smart Start Venture Forum (upstate NY venture forum) • Young Start Up Ventures – www.youngstartup.com • Keiretsu Forum • Don’t forget about NJ: • CIANJ • NJTC
  31. 31. Business Plan Competitions • NYC Entrepreneur Week • Global Entrepreneur Week
  32. 32. Industry Cluster Organizations • NY Biotech Assn.
  33. 33. Angel Funding • NY Angels • LI Angel Network
  34. 34. SBIR • Small Business Innovation Research ( SBIR) Grants: – Industrial & Technology Assistance Corp. – Marion Ewing Kauffman Foundation • Kauffman Campuses Initiative
  35. 35. Incubators • East River Science Park • Brooklyn BioBAT • Business Incubator Assn of NY State
  36. 36. • ITAC: www.itac.org • LIFT: L.I. High Technology Incubator • Economic Development Corporations • Small Business Development Centers • SCORE • SBA: Lender & Small Business Matchmaker Events • NYC Business Solutions Center (SEEDCo) Tech/Econ. Development Centers
  37. 37. Other Resources • Before the Negotiations: What Entrepreneurs Need to Know About Seed and Early Stage Venture Capital • The Start-Up Company Map: Understanding the Language of Entrepreneurship and the Path Forward • Do You Have an Investable Business Case?: Your Story Versus What VCs Really Want to Hear • SeedNY
  38. 38. Other Resources
  39. 39. Other Resources • Entrepreneurial Learning Institute • www.Entrepreneurship.org • Entrepreneur Daily Dose • Mindset: Tapping Your Entrepreneurial IQ • www.elientrepreneur.com
  40. 40. Other Resources • Local Chambers of Commerce: – Bronx – Brooklyn – Greater NY – GVCCC – Harlem – Hispanic – Manhattan – Queens – Staten Island
  41. 41. • Entrepreneurial Teams (52%) vs. Solo Practitioners (48%) • Business Coaching Enterprises: TAB, VISTAGE, The Conference Board • BNI • University Start-Ups • Company Employee Funding Programs • Prior Work Experience • Contract Workers, Consultants, Interns Getting Help
  42. 42. Women & Minorities • www.NAWBO.org • www.wbenc.org • www.score.org/minority_resources.html • www.sba8a.com • Set-asides: dedicated contracting funds for women & minority-owned businesses • Certification: Proof a majority of ownership is in fact minority/women-owned • Late/Second Career Entrepreneurs
  43. 43. Women & Minorities
  44. 44. Chapter 4: Small Biz IDEASIDEAS Creativity, Opportunity & Feasibility
  45. 45. Where OpportunityWhere Opportunity Meets Need.Meets Need. Building a BetterBuilding a Better Mousetrap.Mousetrap.
  46. 46. • In Constant Contact With and Focus on the World Around You • Opportunity Recognition – Turning Life’s LEMONS Into Lemonade • Entrepreneurial Alertness • Solving Needs, Providing Better Solutions Where Inspiration Comes From
  47. 47. • Your Passions • Your Education / Expertise • Your Family / Fiends • Your Children • Strangers New Business Ideas Come From
  48. 48. • Nature • Travel • Your Peers & Fellow Employees • Existing Competitors • Brainstorming New Business Ideas Come From
  49. 49. • SS - Substitute • CC - Combine •A - Adapt • MM - Magnify/Modify • PP - Put to other uses • EE - Eliminate •R - Rearrange SCAMPER
  50. 50. • Build a UNIQUE Culture • Define Your Vision/Mission Statements • Contract Workers vs. Full-time Employees • Are You Offering a “Me-Too” Solution • Communicate, LISTEN, Communicate • The USP of YOU • When You Start Out, Your PERSONAL Brand = Your BUSINESS Brand We’re ALL MarketersWe’re ALL Marketers Dare To Be GREAT
  51. 51. Creative ProblemCreative Problem SolvingSolving
  52. 52. That’s How It’sThat’s How It’s ALWAYSALWAYS BeenBeen DoneDone
  53. 53. DO IT ApproachDO IT Approach
  54. 54. DD DefineDefine the problemthe problem OO OpenOpen your mind & applyyour mind & apply creative techniquescreative techniques II IdentifyIdentify the Solutionthe Solution TT TransformTransform : implement the: implement the solution using an action plansolution using an action plan
  55. 55. Task Owner Contributors Start End Contingencies Status 1. Find new work space for staff Carol Jackso n 2/1 4/1 Available capacity Open 1a: Explore space in Main building Misty Beasley; Melissa Benca; Diana Nash; Paul Grayson; Emmalyn Yamrick; Rosemary Ampuero 2/1 2/15 Available capacity Open
  56. 56. BrainstormingBrainstorming
  57. 57. BrainwritingBrainwriting
  58. 58. The DisneyThe Disney Creative StrategyCreative Strategy
  59. 59.  DreamerDreamer  RealistRealist  CriticCritic Go through all 3Go through all 3 stagesstages
  60. 60. StarburstingStarbursting
  61. 61. StarburstingStarbursting IDEA / Issue Challenge WHO WHAT HOW WHERE WHEN WHY
  62. 62. MetaphoricalMetaphorical ThinkingThinking
  63. 63. StudentStudent ServicesServices HealthHealthWellnessWellness CareersCareers AdvisementAdvisementHousingHousing Major/minMajor/min oror RetentionRetention FacilitiesFacilities
  64. 64. ProvocationProvocation
  65. 65. Attribute ListingAttribute Listing
  66. 66. Student Development Career Services Counseling Residence Life Leadership Internships Crisis Intervention Student Housing Coaching & Mentoring Self-Assessments Academic Advising Roommate Matching Employer Matching
  67. 67. Reframing MatrixReframing Matrix
  68. 68. 44 PerspectivePerspective Approach!Approach! • Product/Service Perspective: Is something WRONG with the product? • Planning Perspective: Are our business plans faulty? • Potential Perspective: If we increase our workload, projects, service offerings, how would we achieve this? • People Perspective: Do we have the right people in the right jobs?
  69. 69. Problem Perspective:  X  X  X Planning Perspective:  X  X  X Potential Perspective:  X  X  X People Perspective:  X  X  X Problem Being AddressedProblem Being Addressed

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