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Entrepreneurial ecosystem p4 5 mdna

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Entrepreneurial ecosystem p4 5 mdna

  1. 1. The EntrepreneurialEcosystemPart 4: Dr. Michael R. BurchamThe Entrepreneurial“DNA” e. michael@michaelburcham.com w. www.michaelburcham.com t. www.twitter.com/michaelrburcham f. www.facebook.com/michael.r.burcham l. www.linkedin/in/michaelburcham
  2. 2. The 3 Most Importantelements of a startup:1. People2. People Momentum Management3. People Money Model Market Entrepreneurship is a “Group Sport”
  3. 3. So… how does thismake money? Momentum Management Money Model MarketIf the entrepreneur’sshiny object doesn’tmake money, then it isart, not a business…
  4. 4. Early Customers areESSENTIAL to Success! Momentum Management Money Model MarketReaching a target market willlikely involve some form ofsocial media.
  5. 5. Where is the BreakEven Point? Momentum ManagementCareful cashmanagement isessential for success. Money Model Market
  6. 6. The 1st 100 Daysset the pace…• Startups have less money Momentum Management than competitors.• They have fewer employees.• There are fewer people Money Model focused on things like marketing, sales, and product development.• Resources are scarce! Market The right team doing the right things in the right structural alignment is essential

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