The 5 P's of Entrepreneurship

By Robin Low
Passion. Purpose. Plan. Partner. Profit.
Entrepreneurship
• Harvard professor Allen Grossman defines
entrepreneurship as "an activity or behavior"
that involves "t...
Social Differentiation
• Why focus on just making profits?
• When you can make a living and make a
difference?
• Dual goal...
Passion
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...
Purpose
Find your place in the world
• Entrepreneurs look at a problem and find a
solution. Knowing that is your purpose pushes
yo...
Plan
Test, evaluate, implement
• Well-articulated vision is more valuable to an
entrepreneur than a great business plan.
• Best...
Partner
Why start from Zero?
• Strategic partnerships between like-minded
companies can help early stage businesses
grow.
• "One o...
Profit
Sustainability required funding
• If you don't produce revenues, you're not in
business.
• Echoing Green, Acumen
Fund, Ash...
The 5 P's of Entrepreneurship
http://www.facebook.com/socialhub

http://www.lulu.com/product/ebook/so-youwant-to-be-an-ent...
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5 P's of Entrepreneurship

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5 P's of Entrepreneurship

  1. 1. The 5 P's of Entrepreneurship By Robin Low
  2. 2. Passion. Purpose. Plan. Partner. Profit.
  3. 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. 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. 5. Passion
  6. 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. 7. Purpose
  8. 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. 9. Plan
  10. 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. 11. Partner
  12. 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. 13. Profit
  14. 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. 15. The 5 P's of Entrepreneurship http://www.facebook.com/socialhub http://www.lulu.com/product/ebook/so-youwant-to-be-an-entrepreneur/6535644

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