Principles of Entrepreneurship (São Paulo Version)
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Recently, I had an opportunity to give a zoom workshop to a group of Brazilian students and aspiring entrepreneurs. I'm sharing the presentation, because while the audience may have been international, there's nothing more universal than the Principles of Entrepreneurship. Below, you’ll find the key points of the presentation. - What is entrepreneurship? At its core it is about problem-solving. - What stops you? Fear of failure? You must give yourself permission to try, to fail maybe and to succeed perhaps. - Entrepreneurship is a combination of inspiration + execution + luck. But without execution it is just a dream. - Use these 5 filters to evaluate your idea at the start: 1. What is the problem you are solving? 2. What is your product or service and how well does it solve the problem? 3. Who is your customer? 4. Who is the competition? 5. How will you make money? We invite you to dive into the entire presentation. And as always, comments, feedback, dialogue always welcome.
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Principles of Entrepreneurship (São Paulo Version)
- 1. PRINCIPLES OF ENTREPRENEURSHIP Living Life on Your Own Terms Verinder Syal verinder@thoughtfulsimplicity.com
- 2. BREATHE
- 3. PRINCIPLES OF ENTREPRENEURSHIP Living Life on Your Own Terms Verinder Syal verinder@thoughtfulsimplicity.com
- 6. 5 X 19 X 1820 1998 0.5X (50%) 1000 AD 4X 9X (900%) A Brief History of Wealth Creation: Real GDP/Capita Change
- 7. 5 X 19 X 1820 1998 0.5X (50%) 1000 AD 4X 9X (900%) A Brief History of Wealth Creation: Real GDP/Capita Change
- 9. Deng Xiaopin g Opens up China Indian Market Opened
- 12. What Free(er) Markets Can Do
- 13. It goes the other way too… In 1950, Detroit was the wealthiest city in America on a per capita income basis. Today, the Census Bureau reports that it is the nation’s 2nd poorest major city, just “edging out” Cleveland.
- 14. 1960s
- 15. Today
- 16. 1960s Today
- 22. Why Entrepreneurship? “They [entrepreneurs] achieve what Jefferson hoped to achieve through revolution in every generation, and they do so without bloodshed, civil war, or concentration camps, without economic catastrophe, but with purpose, with direction, and under control. ” Peter Drucker
- 24. Are you ready for a bit of
- 26. Can I really be an entrepreneur?
- 27. Entrepreneurship Rede fi ned Fundamentally, entrepreneurs are problem solvers. They identify problems and instead of complaining about them, they ask: “What is the solution?” "How can this be fi xed, changed, and done better?”
- 28. –Peter Drucker “Entrepreneurship is neither a science nor an art. It is a practice… entrepreneurs innovate. It is the act that endows resources with a new capacity to create wealth.”
- 29. –Peter Drucker “Everyone who can face up to decision-making can learn to be an entrepreneur… Entrepreneurship, then, is behavior rather than a personality trait. And its foundation lies in concept and theory rather than intuition.”
- 30. I want to be an entrepreneur BUT I want to be an entrepreneur BUT
- 31. I want to be an entrepreneur but… • I am not creative • I am not an enginee r • No networ k • No big idea s • I never fi nish • I have no money • I have no tim e • I can’t take a ris k • What will my parent’s say? • What will my friend’s say? Any of this apply to you?
- 32. Could the fear be an excuse? Because You do not have to do it alone Its a team sport Many sources of money But You have to work very hard You must want to do it It becomes a big part of your life
- 33. The Entrepreneurial Mindset Tina Seelig Take off blinder s See problems afresh (problem blindness ) Question all rule s Opportunities abound – don’t wait to be asked . Secret sauce of SiliconValley = FAILURE Give yourself permission
- 35. Finding Ideas Rachel Bridg e Own personal environment – something missing in your life, something around yo u Spotting a more ef fi cient way to do thing s Turning conventional wisdom on its head Ideas from other area, oversea s Hobby or interest
- 36. Finding Ideas Seth Godin blog Good ideas come from bad ideas, but only if there are enough of them Ideas hate conference rooms… where there is …criticism Ideas occur when dissimilar universes collide Ideas fear experts, but adore beginner's mind Ideas come from nature Ideas don't need a passport
- 37. Finding Ideas Frustrations Improvements Hobbies Passions Cross Pollination Demographic Trends Perceptions / Beliefs Makes no sense Food & Fashion Connections
- 38. Mindset of the Entrepreneur
- 39. Mindset of the Entrepreneur
- 41. Your Ideas Can be close to home and maybe small Or Big, Huge, Global, Intergalactic Either way, you MUST prove their validity REQUIRES A LOT O F RESEARCH
- 42. 6-Slide Formula 1. Problem / Solution 2. Product / Service 3. Customer 4. Competition 5. Marketing 6. Will it make money? • Ask these 6 questions every time • Ask them at the start • Get answers • Or develop a good hypothesis • Keep iterating till it works
- 43. 6-Slide Formula 1. Problem / Solution 2. Product / Service 3. Customer 4. Competition 5. Marketing 6. Will it make money? • Ask these 6 questions every time • Ask them at the start • Get answers • Or develop a good hypothesis • Keep iterating till it works Maybe make this fi rst?
- 44. • Develop an IDEA over the next few days • Goal: Make the most $$$$$$ • Execute it in 2 hours • $5 cash to spend
- 45. In each envelope is… Funded by the Bank of Prof
- 46. • Grade will be based on the $$$ you make
- 48. PRINCIPLES OF ENTREPRENEURSHIP Living Life on Your Own Terms Verinder Syal verinder@thoughtfulsimplicity.com Obrigado!!!!