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How To Think Like An Entrepreneur

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Serial entrepreneur presents on "How To Think Like An Entrepreneur" and shares tips on how to take your great idea and turn it into a real business.

Published in: Business, News & Politics
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How To Think Like An Entrepreneur

  1. 1. Is Your Idea the Next Facebook?How To Think Like An Entrepreneur @HollyHamann Co-founder, BlogFrog Feb 24, 2012
  2. 2. Photo source: Access HollywoodMyth: This is your typical entrepreneur
  3. 3. Photo source: ABC
  4. 4. Photo source: Norman Seef
  5. 5. Photo source: Business PunditMyth: Only certain people can start a company
  6. 6. Photo source: Business Pundit
  7. 7. Photo source: Braille-a-wear.com Photo source: Fox43
  8. 8. 5 key questions you need to answer 1. What are you building?• 60% respected brands who wanted to interact with 2. Who are you building it for? 3. How big is that market? 4. Who will build it? 5. How will you make money?
  9. 9. Photo source: spafinder.comMyth: A poor economy is a bad time to start a business
  10. 10. Photo source: Entrepreneur.comMyth: This idea is too crazy
  11. 11. Myth: You have to raise funding to start a company
  12. 12. Myth: The market doesn’t need one more
  13. 13. Are you sure?
  14. 14. • 60% respected brands who wanted to interact with There is ALWAYS room for innovation!
  15. 15. Low cost providerLuxuryFasterSmallerStylishHigh QualitySpecial NeedsSocial Good How can you be innovative?
  16. 16. Equity in small business makes up the 2nd• 60% respected brands household wealth, 2nd largest share of who wanted to interact with only to home equity (source: Federal Reserve)
  17. 17. • 60% respected brands setswanted to interact with Top 10 skill who to build as an entrepreneur
  18. 18. Remember these? 1. What are you building?• 60% respected brands who wanted to interact with 2. Who are you building it for? 3. How big is that market? 4. Who will build it? 5. How will you make money?
  19. 19. Ability to recognize opportunity
  20. 20. Ability to build teams
  21. 21. A word about founders.• 60% respected brands who wanted to interact with Who you choose to team with will be the single most important business decision you’ll make.
  22. 22. Ability to drive innovation
  23. 23. Ability to gather and process information
  24. 24. FOCUS
  25. 25. Yup, still talking about these…… 1. What are you building?• 60% respected brands who wanted to interact with 2. Who are you building it for? 3. How big is that market? 4. Who will build it? 5. How will you make money?
  26. 26. Tolerance for risk
  27. 27. Ability to make decisions
  28. 28. Photo source: wunderground.comWillingness to be wrong
  29. 29. Network of mentors
  30. 30. Learn how to talk about money
  31. 31. • 60% respected brands who wanted to interact with The lack of those 10 characteristics is also the cause of most failures
  32. 32. • 100respected brands who wanted to interactdon’t 60% % of the shots you don’t take, with go in. Wayne Gretzky
  33. 33. Mark Suster, Both Sides of the Table Ben Horowitz, Bens Blog Paul Graham Essays Fred Wilson, AVC Brad Feld, Feld Thoughts Nivi and Naval, Venture Hacks Foundry Group, Ask The VC Entrepreneur MagazineResources – Books and Blogs
  34. 34. Let’s get to work! @HollyHamann Feb 24, 2012

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