University of Georgia - Terry College of Business - Presentation
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Slides to UGA students enrolled in 3 entrepreneurship classes in the business school's 2016 Fall semester.
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University of Georgia - Terry College of Business - Presentation
- 1. Founder Readiness John Bradberry August 16, 2016
- 2. Agenda • Why Do So Many Startups Fail? • What Prepares a Founder for Success? • 11 Core Characteris<cs • Your ECCP Results – “Peer Clinic” • Class Profile Discussion • Going Forward – GeGng the Most Out of Your Results
- 3. Most People Dream of It Surveys: 72 percent of working adults said they wanted to start their own business (Source: Intuit)
- 4. Reality Most ventures close within 5 years of forma<on. 7 of 10 close within 10 years.
- 5. Reality 6 of 10 people who become self-‐employed go back to work for someone else within 10 years.
- 6. Reality The typical business owner will earn 35% less over a 10-‐year period than if he or she worked for someone else during the same period.
- 7. Reality Two-‐thirds of all owner-‐operated businesses earn less than $10,000 in annual profits.
- 8. Business owners report longer work hours and more stress, fa<gue, insomnia, depression, and conflict with spouses. Reality
- 9. WHY?
- 10. An ExploraMon • 55 hours of interviews • 51 books • 83 research papers • 500+ online sites, blogs, magazines, etc. • Filtered through 20+ years of experience and observa<on
- 11. A Core Issue +
- 15. Market Founder
- 16. Market Math Founder
- 17. Market Math ExecuMon Founder
- 18. Market OrientaMon How viable is your market opportunity? Math Story Does your economic model work? EffecMve ExecuMon Can you make it happen? Founder Readiness Are you bringing your absolute best?
- 19. + Staying Power
- 21. Purpose / Goals Knowledge / Exper<se Personality Rela<onships Resources Founder Readiness
- 22. Founder Readiness Purpose / Goals Knowledge / Exper<se Personality Rela<onships Resources
- 26. Entrepreneur Core CharacterisMcs Profile (ECCP) • 11 dimensions of personality • An awareness raising tool (vs. a “green-‐light red-‐light” test) • Measures tendencies/preferences (vs. skill) • No single “perfect” entrepreneur profile
- 27. Eleven Core Characteris6cs • Business Oriented • Invenve • Independent • Driven • Risk Tolerant • Confident • Persuasive • Resilient • Reliable • People Oriented • Principled
- 29. Inventive
- 31. Driven
- 34. Persuasive
- 38. Principled
- 39. • see any qualities that could be too much of a good thing? Icarus QualiMes
- 40. Founder A
- 41. Founder B
- 42. Founder C
- 43. Founder D
- 44. Peer Clinic: In Groups of 3 Based on my ECCP Results: 1) What are my key strengths as a potenMal entrepreneur? 2) Where are my most relevant gaps? 3) What insights/strategies can help me be most effecMve in an entrepreneurial role?
- 45. 49% 62% 58% 60% 61% 55% 54% 69% 53% 54% 64% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Principled Peopled Oriented Reliable Resilient Persuasive Confident Risk Tolerant Driven Independent InvenMve Business Oriented Entrepreneurship Program Full Group Averages
- 46. 49% 81.30% 60.10% 73.80% 84.30% 69.70% 89.80% 83.70% 80.40% 83.90% 92.20% 0% 20% 40% 60% 80% 100% Principled People Orientated Reliable Resilient Persuasive Confident Risk Tolerant Driven Independent InvenMve Business Oriented Venture Capital Porcolio CEOs (N = 11)
- 47. THANK YOU