Basic 5 P's of Entrepreneurship

1. The 5 P's of Entrepreneurship
By Robin Low

2. Passion. Purpose. Plan. Partner. Profit.

3. Entrepreneurship
• Harvard professor Allen Grossman defines
entrepreneurship as "an activity or behavior"
that involves "the pursuit of opportunity
regardless of the resources you currently
control."

4. Social Differentiation
• Why focus on just making profits?
• When you can make a living and make a
difference?
• Dual goals may sound more
challenging, however, who said that starting a
business would be easy?

5. Passion

6. Do what you enjoy
• "Don't think : I'm going to be rich. You put
your heart in it and just keep going!"
• Know that little by little, no matter what you
are doing, there is progress and it will propel
you towards your goal.
• When you love what you do, you are not
working, you are having fun.

7. Purpose

8. Find your place in the world
• Entrepreneurs look at a problem and find a
solution. Knowing that is your purpose pushes
you along.
• "Business doesn't have to be harmful to the
community or the environment to succeed.
The new model for this century is to profit
with a clear social purpose that benefits all
stakeholders."
• Doing good while doing well

9. Plan

10. Test, evaluate, implement
• Well-articulated vision is more valuable to an
entrepreneur than a great business plan.
• Best content for a business plan is real-world
data based on testing aspects of the concept.
• Adapt and learn
• "Lean StartUp" – Steve Blank & Eric Ries

11. Partner

12. Why start from Zero?
• Strategic partnerships between like-minded
companies can help early stage businesses
grow.
• "One of the biggest mistakes business owners
make is trying to do everything alone."
• One of the most innovative and productive
examples of sharing resources are co-working
spaces.

13. Profit

14. Sustainability required funding
• If you don't produce revenues, you're not in
business.
• Echoing Green, Acumen
Fund, Ashoka, Skoll, BALLE, and Gates
Foundations are just a few of the
organizations offering fellowship grants to
mission-based entrepreneurs.
• Crowdfunding platforms like
IndieGoGo, Kickstarter, and RocketHub offer
modified solutions for raising capital.

15. The 5 P's of Entrepreneurship
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