Clarence Wooten - Johns Hopkins Entrepreneurship Keynote
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Clarence Wooten - Johns Hopkins Entrepreneurship Keynote
- 1. Clarence Wooten Jr. Founder & CEO, CollectiveX JHU - B.S. Business Management 1998
- 3. What is an Entrepreneur?
- 6. 12 Lessons Learned “ Experience teaches slowly and at the cost of mistakes.” – James Froude (1818 – 1894)
- 7. 1 A paycheck is an addiction
- 8. 2 Beware of Naysayers
- 9. 3 Just Do It!
- 10. 4 Fail Fast. Fail Cheap.
- 11. 5 Partner Pitfalls: Co-founders Dilemma
- 12. 6 Be Naive
- 13. 7 Business is a Team Sport.
- 14. 8 Challenge your comfort zone.
- 15. 9 Image Matters
- 16. 10 Shadow of a Leader
- 17. 11 Investors expect their money back.
- 18. 12 Cash and Customers
- 20. Have Fun! Enjoy the journey Change the World!
Editor's Notes
- Where I’m from How I grew up What my family was like Why I became an entrepreneur
- Small business owners.
- Small business owners. True entrepreneur understands leverage
- Small business owners.
- Just like drugs, alcohol 99% work for 1% etc. Work = Money (not) Work = Assets
- Most people don't have vision Most people are employees Successful guy
- There's no roadmap Nothing happens until you make it happen Learn along the way Its a marathon not a sprint
- This applies to creating a business and refining a business 4 out of 5 business fail within 1 st 5 year If you fail, fail fast - Thomas Edison 999x Invested my 20s in entrepreneurship Live lean You only get 1 chance to lose investors money
- It feels good to have a partner Its never 50/50 Share equally in downside Setup reverse vesting
- Unlearn the rules of Corporate America- be free Call your peers, other CEOs (even fortune 500 CEOs)
- Know your strengths You don't have to be the CEO Recruit A players Don't recruit mini me's
- Don't be afraid of success You will have to do things that make you un-comfortable Faced my fear of public speaking
- Look bigger than you are quality logo & identity materials quality website Critical in internet age
- Ethics - You are the bell weather for your cultural tone If you take shortcuts, you give your employees a license to take short cuts
- People back people Only get one chance to lose an investors money First companies weren’t capital intensive But you get multiple chances with you bring them multiples ImageCafe 11x return in under 11 months
- The life blood of any business Translation: finance and marketing Student of entrepreneurs 1- 11 you learn on your own Fundamentals of finance & marketing learned in business school
- Why start a company, if its not fun There are a lot of jobs where you can be an employee and be miserable Enjoy the journey … not the destination Shameless plug – join hopkins.collectivex.com to continue the conversation