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Who Are EntrepreneursDavid Cass

Leeds School of Business

University of ColoradoBoulder, Colorado

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Twenty years from now, you will be more

disappointed by the things you didnt do than

the ones you did do. So throw off thebowlines. Sail away from the safe harbor.

Catch the trades winds in your sails.

EXPLORE. DREAM. DISCOVER

-Mark Twain

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Today

Bug List

Who are Entrepreneurs?

Who did you chose for entrepreneurs?

Guy Kawasaki

Causation vs Effectuation

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Who Is This?

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Who Is This?

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Who Is This?

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Entrepreneurs Are

Opportunity orientated

Innovative

Resourceful Passionate

Comfortable with ambiguity

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Some Vexing Questions

Are entrepreneurs born?

Is there a prototype of the entrepreneur?

Does money motivate entrepreneurs? Do entrepreneurs want to be their own boss?

Are entrepreneurs lone wolves?

Are entrepreneurs lucky?

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Entrepreneurship as aProcess

Identifying an Opportunity

Develop the Concept

Determine the RequiredResources

Acquire the Necessary

Resources

Implement and Manage

Harvest the Venture

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Entrepreneurial Process

Inspiration Goals

Plan FoolingAround

Doing

Plans

Mistakes

Failure Goals

Some OtherAction

Plan

Action

Goals

Inspiration

Inspiration SuccessPinchot & Pellman, Intrapreneurship in Action

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Causation vs. Effectuation

Causal Reasoning begins with..

A predetermined goal

A given set of means You find the market opportunity

Effectual Reasoning begins with

Given set of means

A broad ideano specific goals.

Make the market

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To the extent we predict

the future, we can controlit

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To the extent that we can

control the future, wedont need to predict it

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Causation vs. Effectuation

Which was Christopher Columbus?

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Causation Process

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Market Definition

Segmentation

Targeting

Postion

CUSTOMER

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Effectuation Process

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CUSTOMER

Customer

Identification

CustomerDefinition

Adding segments /Strategic Partners

Several Possible Markets

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Differences between the two

Causal begins with goalsEffectual is

means driven

Causal focuses on return, effectualemphasizes affordable loss

Causal depends on competitive analysis,

effectual focuson network partnerships

Causal avoids surprises, effectual is open

to surprises

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Indian Chef Example

Causal Approach

Effectual Approach

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Which do you Prefer?

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What is Social Entrepreneurship?

Social entrepreneur acts like a traditional

entrepreneur

Systemic change is at the heart of socialentrepreneurship

Success defined by social impact

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