Great tips, resources, best practices and strategies for entrepreneurs, start-ups, professionals and small business owners.to plan launch and grow successful businesses.

1. Chapter 3: Small Biz
Entrepreneurs
CharacteristicsCharacteristics &
CompetenciesCompetencies
(RESOURCES)

2. Example ofExample of
SocialSocial
EntrepreneurshipEntrepreneurship
First…Resources

3. Resources

4. Remember BPBP?

5. • Crain’s Daily alert
• Business Management Daily
• Inc.com
• FastCompany.com
• NY Newsday
• NY Times
• WSJ
Start Reading These

6. • Barron’s
• AM NY & Metro
• Hispanic Business
• NY Enterprise Report
• Entrepreneur.com
• Smallbiztechnology.com
Start Reading These

13. • Original Classic: (1700s-1950s) hard worker,
loner, fast learner, socially isolated, risk taker,
seeks wealth
• Idea Person: (1950s-1980s) hard worker,
loner, fast learner, socially isolated, risk taker,
fame seeker
• Small Business Owner: hard worker, loner,
avg., socially isolated, risk averse, avg. income
seeker
SBE Types

14. • Contemporary Classic (1950s-1980s): hard
worker, loner, fast learner, socially isolated,
risk taker, wealth seeker
• Managerial (1980s-today): hard worker, team
player, fast learner, socially connected, risk
averse, wealth seeker
• Sales (1980s-today): hard worker, team player,
fast learner (socially), avg. learner
(technologically)socially connected, acceptance
seeker, risk averse
SBE Types

15. The Land of Opportunity

16. The Entrepreneurial Nation

17. The Entrepreneurial Nation

18. Next Comes…Next Comes…
YOU?YOU?
SBE Qualities

19. What Do We ALLWhat Do We ALL
Possess?Possess?
SBE Qualities

20. • Drive
• Determination
• Hard Worker - ALWAYS working
• Extreme Self - Confidence
• IDEA People – VORACIOUS / INSATIABLE
Curiosity
SBE Qualities

21. • Pursuit of Learning / Fast Learners
• Self Sufficient
• Socially Connected
• Seek Wealth
SBE Qualities

22. • Basic Business Competencies
• Industry-Specific Knowledge
• Resource Competencies
• Determination Competencies
• Identifying Opportunities Competencies
Core Competencies

23. ProfessionalismProfessionalism
– Expert Follow all the industry BEST practices, seek
their client’s trust at all times:
• Subcontractors: big firms require subcontractors to meet hundreds of
• corporate-dictated procedures
• Franchises: corporate parents specify most of the procedures for the
business’s operation
• International certifications (ISO 9000): small businesses must write in
full detail how they will ensure consistency and professionalism
Core Competencies

24. ProfessionalismProfessionalism
– Specialized Owners are passionate about one or a
few of the key business functions:
• Specialized firms tend to generate moderate levels of trust among
customers
– Minimalized Entrepreneur does everything at the
simplest level:
• No systematic accounting
• Personal sales
• Street vendors, swap meets, art fairs
Core Competencies

25. • Habitual: Owners for a lifetime.
• Growth: Lifetime owners with a primary goal
of success.
• Harvest: Owners with an Exit plan.
• Spiral/Helical: Fluctuating personal periods of
growth then stability determined by personal/
family needs.
An Entrepreneur’s Career Paths

26. • More than 50% of all US businesses
• Generate more than half of all US jobs
• Issues surrounding Role ConflictRole Conflict and
Succession PlanningSuccession Planning:
– How you separate family life from your
business activities
– What if the boss gets hit by a bus?
Family Business: It’s Personal

27. • 36% of entrepreneurs reported reductions in
head count last year.
• Only 8% have added jobs.
• 71% do NOT expect to add new jobs this year.
• Nearly two thirds have seen their sales volumes
and profitability decrease.
• 61% think the economy’s on the WRONG track.
Kauffman Foundation survey of entrepreneurs commissioned by Douglas Schoen in
2009.
State of Entrepreneurship Today

28. Getting HelpGetting Help HELPSHELPS
You Can’t Go At It AloneYou Can’t Go At It Alone

29. • Linked In Groups
• Meet Up Groups
• WIBO / NYC BSC
• Sunshine NYC
• Alumni Contacts
• Business Network
• Social Network
• Coaches & MentorsCoaches & Mentors
Build Your Network NOW!!!NOW!!!

30. Linkedin

31. Meetup

32. Meetup

33. Twitter

34. Facebook for biz

35. Resources
• Investor Forums for Seed/Early Stage Co.’s
• Business Plan Competitions
• Industry Organizations
• Angel Funding Options
• Business Incubators
• Technology/Economic Development Centers
• Chambers of Commerce
• Others (WIBO, SCORE, SBA, Levin Institute,
Kauffman Organization)

36. Investor Forums
• UNYTECH / Smart Start Venture Forum
(upstate NY venture forum)
• Young Start Up Ventures –
www.youngstartup.com
• Keiretsu Forum
• Don’t forget about NJ:
• CIANJ
• NJTC

37. Business Plan Competitions
• NYC Entrepreneur Week
• Global Entrepreneur Week

38. Industry Cluster Organizations
• NY Biotech Assn.

39. Angel Funding
• NY Angels
• LI Angel Network

41. SBIR
• Small Business Innovation Research (
SBIR) Grants:
– Industrial & Technology Assistance Corp.
– Marion Ewing Kauffman Foundation
• Kauffman Campuses Initiative

42. Incubators
• East River Science Park
• Brooklyn BioBAT
• Business Incubator Assn of NY State

43. • ITAC: www.itac.org
• LIFT: L.I. High Technology Incubator
• Economic Development Corporations
• Small Business Development Centers
• SCORE
• SBA: Lender & Small Business Matchmaker
Events
• NYC Business Solutions Center (SEEDCo)
Tech/Econ. Development Centers

44. Other Resources
• Before the Negotiations: What Entrepreneurs
Need to Know About Seed and Early Stage
Venture Capital
• The Start-Up Company Map: Understanding
the Language of Entrepreneurship and the Path
Forward
• Do You Have an Investable Business Case?:
Your Story Versus What VCs Really Want to
Hear
• SeedNY

45. Other Resources

46. Other Resources
• Entrepreneurial Learning Institute
• www.Entrepreneurship.org
• Entrepreneur Daily Dose
• Mindset: Tapping Your Entrepreneurial IQ
• www.elientrepreneur.com

47. Other Resources
• Local Chambers of Commerce:
– Bronx
– Brooklyn
– Greater NY
– GVCCC
– Harlem
– Hispanic
– Manhattan
– Queens
– Staten Island

48. • Entrepreneurial Teams (52%) vs. Solo
Practitioners (48%)
• Business Coaching Enterprises: TAB, VISTAGE,
The Conference Board
• BNI
• University Start-Ups
• Company Employee Funding Programs
• Prior Work Experience
• Contract Workers, Consultants, Interns
Getting Help

49. Women & Minorities
• www.NAWBO.org
• www.wbenc.org
• www.score.org/minority_resources.html
• www.sba8a.com
• Set-asides: dedicated contracting funds for
women & minority-owned businesses
• Certification: Proof a majority of ownership is
in fact minority/women-owned
• Late/Second Career Entrepreneurs

50. Women & Minorities

51. Chapter 4:
Small Biz IDEASIDEAS
Creativity, Opportunity &
Feasibility

53. Where OpportunityWhere Opportunity
Meets Need.Meets Need.
Building a BetterBuilding a Better
Mousetrap.Mousetrap.

54. • In Constant Contact With and Focus on the
World Around You
• Opportunity Recognition
– Turning Life’s LEMONS Into Lemonade
• Entrepreneurial Alertness
• Solving Needs, Providing Better Solutions
Where Inspiration Comes From

56. • Your Passions
• Your Education / Expertise
• Your Family / Fiends
• Your Children
• Strangers
New Business Ideas Come From

57. • Nature
• Travel
• Your Peers & Fellow Employees
• Existing Competitors
• Brainstorming
New Business Ideas Come From

60. • SS - Substitute
• CC - Combine
•A - Adapt
• MM - Magnify/Modify
• PP - Put to other uses
• EE - Eliminate
•R - Rearrange
SCAMPER

64. • Build a UNIQUE Culture
• Define Your Vision/Mission Statements
• Contract Workers vs. Full-time Employees
• Are You Offering a “Me-Too” Solution
• Communicate, LISTEN, Communicate
• The USP of YOU
• When You Start Out, Your PERSONAL
Brand = Your BUSINESS Brand
We’re ALL MarketersWe’re ALL Marketers
Dare To Be GREAT

65. Creative ProblemCreative Problem
SolvingSolving

67. That’s How It’sThat’s How It’s
ALWAYSALWAYS BeenBeen
DoneDone

70. DO IT ApproachDO IT Approach

71. DD DefineDefine the problemthe problem
OO OpenOpen your mind & applyyour mind & apply
creative techniquescreative techniques
II IdentifyIdentify the Solutionthe Solution
TT TransformTransform : implement the: implement the
solution using an action plansolution using an action plan

72. Task Owner Contributors Start End Contingencies Status
1. Find
new work
space for
staff
Carol
Jackso
n
2/1 4/1 Available capacity Open
1a:
Explore
space in
Main
building
Misty Beasley; Melissa
Benca; Diana Nash;
Paul Grayson; Emmalyn
Yamrick; Rosemary
Ampuero
2/1 2/15 Available capacity Open

73. BrainstormingBrainstorming

74. BrainwritingBrainwriting

75. The DisneyThe Disney
Creative StrategyCreative Strategy

76.  DreamerDreamer
 RealistRealist
 CriticCritic
Go through all 3Go through all 3
stagesstages

77. StarburstingStarbursting

78. StarburstingStarbursting
IDEA / Issue
Challenge
WHO
WHAT
HOW
WHERE
WHEN
WHY

79. MetaphoricalMetaphorical
ThinkingThinking

81. StudentStudent
ServicesServices
HealthHealthWellnessWellness
CareersCareers
AdvisementAdvisementHousingHousing
Major/minMajor/min
oror
RetentionRetention
FacilitiesFacilities

82. ProvocationProvocation

86. Attribute ListingAttribute Listing

87. Student
Development
Career
Services
Counseling Residence
Life
Leadership Internships Crisis Intervention Student Housing
Coaching &
Mentoring
Self-Assessments Academic
Advising
Roommate
Matching
Employer
Matching

88. Reframing MatrixReframing Matrix

89. 44 PerspectivePerspective Approach!Approach!
• Product/Service Perspective: Is
something WRONG with the product?
• Planning Perspective: Are our
business plans faulty?
• Potential Perspective: If we increase
our workload, projects, service
offerings, how would we achieve this?
• People Perspective: Do we have the
right people in the right jobs?

90. Problem Perspective:
 X
 X
 X
Planning Perspective:
 X
 X
 X
Potential Perspective:
 X
 X
 X
People Perspective:
 X
 X
 X
Problem Being AddressedProblem Being Addressed