entrepreneurship v1.0
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OverviewWhat is Entrepreneurship?
Entrepreneur come from French word that consist ofENTRE and PRENDRE.
ENTRE means between PRENDRE means to take So Entrepreneur has synergy meaning that Anyone who build new
venture to take on the risk for selling the products or services
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Some definition for Entrepreneur
Academic Definition (Stevenson & Jarillo)o Entrepreneurship is the process by which
individuals pursue opportunities without regard toresources they currently control.
Venture Capitalist (Fred Wilson)o Entrepreneurship is the art of turning an idea into
a business.Explanation of What Entrepreneurs Do
o Entrepreneurs assemble and then integrate all theresources needed the money, the people, thebusiness model, the strategy needed totransform an invention or an idea into a viable
business.
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Few Things in Entrepreneurship
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Innovation
Startup
Venture Capitalist
Angel Investor
Bootstrapping Founder
MVP
Fund Raising
OpportunityIdeas
Passion
Visionary
Uncertainty
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Why Become an Entrepreneur?
The three primary reasons that people becomeentrepreneurs and start their own firms
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Desire to be theirown boss
Desire to pursuetheir own ideas
Financial rewards
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Characteristics of Successful Entrepreneurs
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SuccessfulEntrepreneur
Passion for thebusiness
Product/customerfocus
Tenacity despitefailure
ExecutionIntelligence
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Personal Characteristics of the Entrepreneur
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Prior Experience Cognitive Factors
Social Networks Creativity
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What is Startup?
A STARTUP is a humaninstitution designed tocreate a new product or
service under condition ofextreme uncertainty
ric Ries The Lean Startup
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The Lean Startup E r i c R i e s
1. Entrepreneurs are everywhere -dont have to work
in a garage.
2. Entrepreneurship is management a startup isinstitution, not just a product, and so it requires a new kind ofmanagement.
3. Validated learning entrepreneur exist to learn how to buildsustainable business by do iterative experiments.
4. Build-Measure-Learn The fundamental activity of astartup is to turn ideas into products then measure how customersrespond then learn whether to pivot or perserve
5. Innovation accounting measure progress of milestonesplanned and prioritize the work.
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Startup milestones in entrepreneurial stage
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Idea Generation
Feasibility Study Business Planning
Business Modelling Execution
Grow
VISION, MISSION and VALUESCapability: Marketing, Product Development, Operation, Finance and Legal
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Business Model Canvas Alexander Osterwalder
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Entrepreuner must undertsand sales andmarketing
Marketing strategy: Segmentation, Targeting &
PositioningMarketing communication: Viral, Promotion,digital marketing via social mediaBrand management : build corporate identity,product brand and image
Build sales force team or distributorship,reseller or direct selling.Formulating price strategy
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Entrepreuner focus on product development
Product strategy formulation
Building the winning team for productadvantageTechnology utilizationProduct life cycle managementEngage communication betweencustomer and product developmentteam
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Entrepreuner must has operational skill
Operational strategy formulation
Ensure that value chain alongproduction process to market areeffective and efficient.
Analyze which one your CORE andNon-CORE resources and activities by
always decide make or buythroughout production process
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Entrepreuner must a financial literate person
Financial planning: forcasting dan
budgetingInvestor managementDetermine financial performance target,monitoring and control:
Revenue growth
ProfitabilityEfficiencySustainbilityLikuidity
Setup a well finance and accounting
standardIntegrity and complianceTax planning
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Financial Ratios
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Recommended Books
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