This document provides information about entrepreneurship and what it takes to be a successful entrepreneur. It discusses the nature of entrepreneurship and importance of choosing the right environment. It also covers setting personal goals, sources of new business ideas, and advantages of part-time entrepreneurship. The document examines characteristics of successful entrepreneurs like self-confidence, determination, and creativity. It also discusses performing personal SWOT (strengths, weaknesses, opportunities, threats) analysis and outlines components of an effective business plan.

1. Entrepreneurship
What it Takes to be Successful
Notes by James P. Popino
From Entrepreneurship Lectures at Broward College
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2. TVO Industries, Inc.
 TVO Industries, Inc. is a privately owned financial
consulting and Merger and Acquisition firm
committed to providing specialized advisory services
and strategic planning to top management of public
and private firms throughout the world. Our
expertise is focused on successfully buying and selling
companies and in capital formation services for our
clients. Talk to us – it is likely the best investment
you’ll ever make.
 James P. Popino, Managing Director
 jpopino@tvoindustries.com - p- (954) 423-2324
 www.TVOIndustries.com
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3. The Entrepreneur
OBJECTIVES
● The nature of entrepreneurship.
● What it takes to be a successful entrepreneur.
● The importance of choosing the right environment in which to
work.
● The process of setting personal goals according to your values,
attitudes, needs, and expectations.
● The sources of new business ideas.
● The advantages and disadvantages of part-time entrepreneurship.
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4. Entrepreneurs are individuals who have the
vision and ambition to reach goals that are
beyond many of us.
They come from all types of backgrounds
They are active in all forms of enterprise
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5. ● Controlling one’s destiny
● Independence from supervision
● Achieving great profits
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6. Self-confidence
Determination and perseverance
Creativity
Need to achieve
Do you tend to be a daydreamer?
Do routine chores make you restless?
Are you stubborn?
Do you like yourself?
Is making money your only goal in starting a business?
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7. ● Many are the children of self-employed parents.
● Many are descendents of immigrant parents or
grandparents.
● Many were enterprising in their youth.
● Many are the oldest child.
● Many state their prime reason for starting a business was to
be on their own and not work for someone else.
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8. • What are your primary career ambitions?
• Do you prefer changes in your work responsibility rather than
permanent, unchanging tasks?
• What do you dislike about your work?
• Is it important for you to receive recognition?
• When do you feel the most fulfilled by your work?
● What intangible characteristics of a career are most important to you?
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9. What’s Most Important?
 Income
 Retained earnings
 Return on investment
 Personal Satisfaction
 Status
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10. Personal Desires
 What kind of work excites you?
 How do you feel about working with people?
 How much time do you want to devote?
 How involved do you want to be?
 Do you like to travel?
 Do you like to work at night?
 Do you want to work full time?
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11. SWOT
Strengths – Weaknesses -
Opportunities - Threats
 Abilities and talents
 Inventory of skills
 Financial capabilities
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12. STRENGTH/WEAKNESS
 Capabilities?
 Competitive advantages?
 USP's (unique selling points)?
 Resources, Assets, People?
 Experience, knowledge, data?
 Financial reserves, likely returns?
 Accreditations, qualifications, certifications?
 Processes, systems, IT, communications?
 Cultural, attitudinal, behavioural?
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13. OPPORTUNITIES
 Market developments?
 Competitors' vulnerabilities?
 Industry or lifestyle trends?
 Technology development and innovation?
 New markets, vertical, horizontal?
 Tactics - surprise, major contracts, etc?
 Business and product development?
 Partnerships, agencies, distribution?
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14. THREATS
 Legislative effects?
 Environmental effects?
 IT developments?
 Market demand?
 New technologies, services, ideas?
 Sustaining internal capabilities?
 Loss of key staff?
 Sustainable financial backing?
 Economy - home, abroad?
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15. SWOT
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16. The Business Plan
 A business plan serves as a manual to help the
entrepreneur during the design and start-up phases of
the business.
 It also states the entrepreneur’s expectations, which
serve as criteria by which business performance can
be periodically evaluated.
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17. The Business Plan
 COVER SHEET
 STATEMENT OF PURPOSE
 TABLE OF CONTENTS
 EXECUTIVE SUMMARY
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18. The Business Plan (continued)
Sections
 1. Concept History and Background
 2. Goals and Objectives
 3. Marketing Plan
 4. Legal Requirements
 5. Form of Ownership
 6. Financial Plan
 7. Organization, Management, and Staffing Plan
 8. Special Considerations
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19. Links
 http://ecorner.stanford.edu/authorMaterialInfo
http://academicearth.org/lectures/choosing-your
http://ecorner.stanford.edu/authorMaterialI
nfo.html?mid=2325
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20. INTERNET TOOLS
 WEB SITE
 SEE – WWW.TVOINDUSTRIES.COM
 EMAIL ADDRESS
 USE – JPOPINO@TVOINDUSTRIES.COM
 BLOG
 SEE - JPOPINO@BLOGSPOT.COM
 LINKEDIN.COM – FACEBOOK.COM – ETC.
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21. ELEVATOR SPEECH
 Brief Commercial
 When to Use It
 Elements of an Elevator Speech
 Tips for Developing Your Speech
 Avoid These Mistakes
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22. For A Project Manager
 “I translate the Tower of techno-Babble. I'm Paul
Coker.
Some companies call my job project management or
technical team leading. I help teams reach their goal
better/faster/cheaper by welding radically different
perspectives into a single team effort, avoiding wasted
or dead-end efforts. Do you know of any companies
that might need that kind of leader for a team of tech
specialists?”
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