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What is entrepreneurship and how is it distinctive v2

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This presentation is influence by Gary Schoeniger, author and course creator of the Ice House Entrepreneurship Program, a project was developed through a partnership with the Kauffman Foundation and the Entrepreneurial Learning Initiative. Steve Blank, author of The Four Steps to the Epiphany, The Startup Owners Manual, and the developer of the Lean LaunchPad Curriculum has also influenced my preparation.

In this presentation, I’ll discuss some challenges we face in terms of how we currently defined entrepreneurship, both from an academic as well as an economic development perspective.

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What is entrepreneurship and how is it distinctive v2

  1. 1. What is entrepreneurship and how is it  distinctive from small business education?  An invited address at the California Indian Manpower Consortium 2014 Leadership Training for Entrepreneurial/Small Business/Economic Development  February 5‐7, 2014: Pala Casino & Spa Resort Pala Band of Mission Indian, Pala California Peter H. Hackbert Director, Entrepreneurship for the Public Good Program Berea College Berea, Kentucky
  2. 2. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 2
  3. 3. What we Used to Believe 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 3
  4. 4. Entrepreneurship can’t be taught 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 4
  5. 5. What We Now Know 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 5
  6. 6. Entrepreneurship can be taught to  those that volunteer 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 6
  7. 7. Not Easy 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 7
  8. 8. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 8
  9. 9. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 9
  10. 10. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 10
  11. 11. 2 Kinds of “E” activities Necessity Opportunity 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 11
  12. 12. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 12
  13. 13. 'Moses' of the  Choctaws Led the  Indian Tribe to  Prosperity Wall Street Journal, Feb 6, 2010 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 13
  14. 14. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 14
  15. 15. Kauffman Index of Entrepreneurial  Activity • In 2012, every month, an average of over 3.4  out of 1,000 adults created a new business – 540,000 new businesses (2002 = 623,000) – 4.4 men        2.7 women – 5.2 Latinos – 3.2 Asian  – 2.3 African Americans – 5.1 Native Americans 154/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College
  16. 16. Kauffman Index of Entrepreneurial  Activity Kentucky had 10th highest entrepreneurial  activity rates – 3.8 per 1,000 adults 164/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College
  17. 17. Kauffman Index of Entrepreneurial  Activity California had 3rd highest entrepreneurial  activity rates – 4.1 per 1,000 adults 174/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College
  18. 18. Minority‐Owned Businesses by the  Numbers 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 18
  19. 19. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 19
  20. 20. What we Used to Believe 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 20
  21. 21. Entrepreneurship education  = years  in school or tons of money 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 21
  22. 22. What we Used to Believe 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 22
  23. 23. Startups are a Smaller Version of a  Large Company Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 23
  24. 24. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 24
  25. 25. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 25
  26. 26. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 26
  27. 27. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 27
  28. 28. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 28
  29. 29. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 29
  30. 30. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 30
  31. 31. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 31
  32. 32. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 32
  33. 33. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 33
  34. 34. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 34
  35. 35. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 35
  36. 36. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 36
  37. 37. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 37
  38. 38. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 38
  39. 39. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 39
  40. 40. What We Now Know 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 40
  41. 41. Startups Search Companies Execute Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 41
  42. 42. All you need is the 5‐Year Forecast Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 42
  43. 43. What we Used to Believe Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 43
  44. 44. No battle plan ever survives contact with the enemy. Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 44
  45. 45. Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 45
  46. 46. Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 46
  47. 47. Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 47
  48. 48. More startups fail from a lack of  customers than from a failure of  product development Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 48
  49. 49. Planning come before the plan Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 49
  50. 50. Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 50
  51. 51. We Now Know How to Make  Startups Fail Less  Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 51
  52. 52. How? 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 52
  53. 53. Entrepreneurial Education begins  with the Search for a Business  Model Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 53
  54. 54. Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 54
  55. 55. What’s A Company? 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 55
  56. 56. A business organization which sells a  product or service in exchange for  revenue and profit Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 56
  57. 57. What’s A Startup? 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 57
  58. 58. A temporary organization designed to search for a repeatable  and scalable  business model  Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 58
  59. 59. A Startup aims to become a  company Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 59
  60. 60. Putting Search first is a radical  educational and training technology Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 60
  61. 61. It is not the customer’s job to know  what they want. ‐ Steve Jobs 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 61
  62. 62. “If I had asked people what they wanted, they  would have said faster horses.” ‐ Henry Ford4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 62
  63. 63. Maximizing learning (about the  customer) per unit time Source: http://steveblank.com/tools-and-blogs-for-entrepreneurs/ 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 63
  64. 64. Startups that succeed are those that  manage to iterate enough times  before running out of resources. ‐ Eric Ries, The Lean Startup 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 64
  65. 65. Life’s too short to build something  nobody wants. ‐ Ash Maurya, Running Lean 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 65
  66. 66. Customers don’t care about your  solution. They care about their  problems.  – Dave McClure, 500 Startups 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 66
  67. 67. Unique Value Proposition: Why you  are different and worth buying  getting attention. Source: Al Ries and Jack Trout, Positioning: The Battle for Your Mind 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 67
  68. 68. Failing to build a path to customers  is among the top reasons why  startups fail 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 68
  69. 69. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 69
  70. 70. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 70
  71. 71. Search 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 71
  72. 72. Search Growth 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 72
  73. 73. Search Growth Obsolescence 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 73
  74. 74. Search Growth Obsolescence Ambiguity and uncertainty Values and ethical structures Recognizing opportunity Facilitating groups Marshaling resources Advocating for change Entrepreneurship for the Public Good  4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 74
  75. 75. Search Growth Obsolescence 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 75
  76. 76. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources Growth Obsolescence 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 76
  77. 77. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources Growth Obsolescence 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 77
  78. 78. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 78
  79. 79. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources Growth Obsolescence  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 79
  80. 80. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 80
  81. 81. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence  Globalization  New technologies  Increased  competition  Shrinking relevance  Commoditization  Scarcity of resources  Regulatory changes  Entrenched systems  Outdated  assumptions  Arrogance  Denial 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 81
  82. 82. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence  Globalization  New technologies  Increased  competition  Shrinking relevance  Commoditization  Scarcity of resources  Regulatory changes  Entrenched systems  Outdated  assumptions  Arrogance  Denial 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 82
  83. 83. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources Growth Obsolescence  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 83
  84. 84. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 84
  85. 85. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence  Innovation  Large scales  initiatives  Acquisitions  Processes  Careful planning  In‐depth research &  analysis  Known brands  Known customers  Established channels  Experienced  managers  Executive of plans  Measured results 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 85
  86. 86. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence  Innovation  Large scales  initiatives  Acquisitions  Processes  Careful planning  In‐depth research &  analysis  Known brands  Known customers  Established channels  Experienced  managers  Executive of plans  Measured results 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 86
  87. 87. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence  Innovation  Large scales  initiatives  Acquisitions  Processes  Careful planning  In‐depth research &  analysis  Known brands  Known customers  Established channels  Experienced  managers  Executive of plans  Measured results 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 87
  88. 88. Search  Interaction  Listening  Observation   Experimentation  Adaptation  Naivety  Curiosity  Creativity  Critical  Thinking  Communications  Problem Solving  Commitment  Marshal  resources  Replication  Management  Planning  Processes  Systems  Efficiency  Improvement  Formulaic  Policies  Procedures  Control  Compliance  Conformity Growth Obsolescence  Innovation  Large scales  initiatives  Acquisitions  Processes  Careful planning  In‐depth research &  analysis  Known brands  Known customers  Established channels  Experienced  managers  Executive of plans  Measured results 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 88
  89. 89. Search Growth Obsolescence One Page  Business  Plan 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 89
  90. 90. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 90
  91. 91. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 91
  92. 92. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 92
  93. 93. 4/7/2014 CIMC Entrepreneurship Training,              Peter H Hackbert, EPG, Berea College 93

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