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Entrepreneurial Mindset

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Power Point presentation for Entrepreneurship class in BINUS University. Chapter 1.

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Entrepreneurial Mindset

  1. 1. Entrepreneurial Mindset<br />“Motivate, recognize and direct your creativity, sell it, and prepare for the competition”<br />
  2. 2. “Oranggila”<br />“Orangnekat”<br />Entrepeneur<br />French.Entreprendre (n) – “Risk taker”<br />“Innovator or inventor who can see opportunities and have creative ideas in form of business.”<br />“Bosenidup”<br />“Beranimati”<br />
  3. 3. Walt Disney<br />Richard Cantillon<br />Bill Gates<br />Marco Polo<br />Steve Jobs<br />Every bloody living person that create a company (or theory, in nod to Richard Cantillon,) nurture it and develop it into ‘something’ that we all know now<br />
  4. 4. Off-the-record slide<br />!<br />It is wrong to think that entrepreneurship is different from corporate.<br />Many corporations and big companies are started with a person, with an idea, with a goal.<br />
  5. 5. Entrepreneurial mindset<br />Mindset is entity from belief that we have, the criteria are expectations, attitudes, habits, decisions, and opinions that we spend in looking at ourselves, others or life... Blah blahblah.<br />In short, mindset is your faith. Your belief.<br />
  6. 6. Entrepreneur <br />A person who is “moving forward” to the courage, persistence, optimism, perseverance, and hard-working so their business can grow.<br />
  7. 7. “Around here, however, we don’t look backwards for very long. We keep moving forward, opening up new doors and doing new things… And curiosity keeps leading us down new paths.”<br />–Walt Disney<br />
  8. 8. What makes entrepreneur, entrepreneur?<br />Knowing and understanding opportunity. Resourceful. Creative. Visionary. Independent thinking. Hard working. Optimism. Innovator. Risk taker. A Leader.<br />-- Entrepreneur of The Year Magazine<br />Opportunity and “make it happen”<br />Don’t wait for opportunity. Create it!<br />Action oriented. Think simple. Always searching for new opportunity. Chasing opportunity with high discipline. Only taking the best opportunity. Focus on executions. Energy focus on running a business.<br />-- McGraith & McMillan<br />
  9. 9. You are working for somebody else, but you have initiative to start something new.<br />You are the business owner. Period.<br />You have your own business and you use it for good cause. In short, you are everyday superhero.<br />
  10. 10. Entrepeneurship in millennium Web 2.0 era<br />Creative, innovative, and able to arise facing challenges of e-commerce<br />Development strategy on the Internet 3-P Growth Model by Ernst & Young<br />Presence. You HAVE TO BE THERE. People should be able to see you. People should know you.<br />Penetration. Your knowledge in the Internet world (social media) is crucial.<br />Profitability. How did you get the money?<br />
  11. 11. Off-the-record slide<br />“The road to wisdom, my friend, is filled with thorns and rocks.”<br />Why some online business failed?<br />Pets.com<br />Started: 1998. Dead: 2000.<br />A high profile marketing campaign gave it a widely recognized public presence, including an appearance in the 1999 Macy's Thanksgiving Day Parade and an advertisement in the 2000 Super Bowl. Its popular sock puppet advertising spokespersonality was interviewed by People magazine and appeared on Good Morning America.<br />Although sales rose dramatically due to the attention, the company was weak on fundamentals and actually lost money on most of its sales. Its high public profile during its brief existence made it one of the more noteworthy failures of the dot-com bubble of the early 2000s. US$300 million of investment capital vanished with the company's failure. The company was headquartered in Emeryville, California, U.S.<br />-- http://en.wikipedia.org/wiki/Pets.com<br />
  12. 12. Risks of being entrepreneur<br />Financial risk with the entrepreneur's advantage to motivate the desire to increase wealth<br />Be smart and aware with your financial situation. Now you can get credits and loans from banks and financial institutions. Keep your papers updated and ready. Do NOT mix up your personal allowance with your business’ money.<br />Career risks - loss of employment security<br />Ready or not, you have to be ready. The question now is, “are you ready to get out from your comfort zone?”<br />
  13. 13. Risks of being entrepreneur<br />Risk of social life and family environment - the competition between work<br />and family commitments<br />BULLSHITS. Entrepreneur or not, you will always have to balance your personal life and your professional life.<br />Psychological risk - the psychological impact of failure on the<br />entrepreneur's welfare<br />Always, always aware with situation. Be alert. You can pray to God, have somebody you can trust and “keep moving forward”<br />
  14. 14. The Entrepreneur’s Ego<br />Arrogance<br />Distrust<br />Major desire to succeed<br />Optimistic attitude is not realistic<br />
  15. 15. What makes you a real businessperson or a stupid dumb-head?<br />Sources: Kasali, R. (2009) “Keluardarikrisis: MembangunKekuatanBaruMelalui Core Believe dan Tata Nilai.” Depok: Inaugural speech profesor UI<br />
  16. 16. Off-the-record slide<br />Business Plan<br />Quite contrary with general assumption about business plan, there are success stories in entrepreneurship coming up from “just do it”-attitude with no initial business plan.<br />The point in this part is:<br />Understand your market. Be clear with your objectives.<br />Most of the times, business plans are only fancy texts and numbers on papers. It’s all come back to you. “Make it happen.”<br />
  17. 17. The importance of business plan <br />(because sooner or later you will need it anyway)<br />Business plan created to be the path for new or existing business to gain profit.Business plan also a document required by lenders or investors, if you need external funding.The main reason to write a business plan is for guidance to run business<br />It’s your guidance. <br />
  18. 18. =<br />Business plan<br />+ + + + + + + <br />5 W 1 H<br />How many?<br />Is it unique?<br />What’s the benefit?<br />Outcome<br />Vision<br />Mission<br />Goal<br />
  19. 19. Interesting stuffs…<br />Twitter: @mrshananto(for your financial welfare)<br />Articles: ‘Free!’ by Chris Anderson<br />Blog: sethgodin.typepad.com<br />Movie: Walt Disney ‘Meet the Robinsons’<br />

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