This document outlines a seminar series on entrepreneurship held between October 2015 and June 2016. It discusses 10 total sessions, with topics like opportunity recognition, business models, and financing. The session summarized here focuses on the risks and challenges of entrepreneurship, including financial, career, and psychological risks. It notes that while confronting risks and ambiguity is difficult, these traits are also needed to succeed as an entrepreneur. Specific challenges covered include stress, loneliness, health issues, and the potential negative effects of an overbearing ego. The document advocates for balancing these risks and traits carefully.

1. SUCCESS AND FAILURE AS AN ENTREPRENEUR
Dr. Joachim Behrendt

2. INTRODUCTION
StartNowHow
• Open seminar series for active and prospective entrepreneurs
• 10 sessions on monthly basis until summer 2016
• Covers relevant theoretical and practical aspects of entrepreneurship
• Based on lecture „entrepreneurship“ @Bogazici University
• Based on experiences of entrepreneurs, investors, mentors and consultants
• Each session with guest speaker (entrepreneurs, investors, mentors, etc.)
• Language: English / Turkish
• Thursdays 17.15h – 19.30h
• Next session: NONE
• TODAY: Success and Failure as an Entrepreneur
• AWARD CEREMONY
• Certificate provided for participants joining at least 70% of the sessions
• Early registration for each session required (eventbrite), limited capacity!
• Priority for regular participants
Startnowhow – Seminar 810.06.2016 2

3. INTRODUCTION
StartNowHow - Seminar Topics (preliminary)
1. Thu 1.10.15: The entrepreneurial ecosystem in Turkey
2. Thu 15.10.15. Entrepreneurship as a profession
3. Thu 12.11.15: Opportunity recognition and evaluation
4. Thu 10.12.15: Planning, developing and testing a business model
5. Thu 7.1.16: Market and competitor research
6. Thu 11.2.16: Financial planning for startups
7. Thu 10.3.16: Digital Marketing planning and control
8. Thu 14.4.16: Funding the startup – stage financing for ventures
9. Thu 12.5.16: The investment process – pitching, negotiations and termsheet
10. Thu 9.6.16: Success and failure as an entrepreneur / AWARD CEREMONY
Startnowhow – Seminar 810.06.2016 3

4. SUCCESS&FAILURE
The Dark Side of Entrepreneurship
10.06.2016 4Startnowhow – Seminar 2
Source: Shane, Ihe Illusions of Entrepre-
neurship, New Haven / London 2008
US study UK studies
Source: Stokes / Wilson, Small Business
Management, p. 87

5. SUCCESS&FAILURE
The Dark Side of Entrepreneurship
• Confrontation with risk
• In its deepest sense, entrepreneurs are willing to accept risk for what they believe in
• Entrepreneurs have ability to cope with ambiguity, and a consistent lack of clarity
• Have a drive to put their imprint on whatever they are creating, ego is wrapped up in
the enterprise
• Financial risk
• Career risk
• Family and social risk
• Psychic risk
• Negative effects from the entrepreneurial ego
• Overbearing need for control
• Sense of distrust, paranoia
• Overriding desire for success
• Sometimes „uncoachable“, overestimating themselves and their abilities
• ... But all these characteristics are, to a certain extent, needed to succeed as an
entrepreneur  careful balancing needed
• (taken from Kuratko, Entrepreneurship – Theory, Process, Practice, pp. 42-44)
10.06.2016 5Startnowhow – Seminar 2

6. SUCCESS&FAILURE
The Dark Side of Entrepreneurship
• Stress
• Entrepreneurs are prone to stress
• Continous discrepancies between (self-)expectations and realitiy / personality
• Entrepreneurs are often „type A personalities“ – prone to stress
• Chronic and severe sense of time urgency
• Constant involvement in multiple projects subject to deadlines
• Neglect of all aspects of life except work
• Tendency to take on excessive responsibility, „only I am capable of taking care of it“
• Explosiveness of speech, speaking faster than most people, swearing when upset
• Typical sources of entrepreneurial stress
• Loneliness, inner feelings of isolation
• Immersion in business
• Problems with people
• Need to achieve
• Implications
• Back problems, indigestion, insomnia, headaches
• Type A behaviour related to coronary heart disease, stress is contributor to heart disease
• .....
• (taken from Kuratko, Entrepreneurship – Theory, Process, Practice, pp. 39-42)
10.06.2016 6Startnowhow – Seminar 2

7. BIC ANGEL INVESTMENTS
Dr. Joachim Behrendt
Phone: +90 212 328 1939
Fax: +90 212 328 1933
www.bicangels.com
http:/twitter.com/joachimbehrendt
http://tr.linkedin.com/pub/joachim-behrendt/18/706/a7a
Email: j.behrendt@bicangels.com