View
951
Download
0
Category
Tags:
Preview:
DESCRIPTION
Do you want to be an entrepreneur, but are clueless about what type of company to start? This presentation will teach a process for seeing the possibilities.
Citation preview
1
2
Ways Entrepreneur Wannabes Can Determine What Kind of Business To Start
3
Waiting for a Kiss from the Muses…
Is Like Waiting for GodotIs Like Waiting for Godot
4
Agenda
• Look inside you
• Look outside of you
• Be curious
• Push the envelope
• Be observant
• Have others help you
• Set your own direction
• Look inside you
• Look outside of you
• Be curious
• Push the envelope
• Be observant
• Have others help you
• Set your own direction
5
Look Inside You
6
Personal Assessment
• What do you enjoy doing?• What skills do you have?• What industry expertise do you
have?
• What do you enjoy doing?• What skills do you have?• What industry expertise do you
have?
7
Personal Need
• Gary Erickson,Clif Bars
• Gary Erickson,Clif Bars
• Liz Lange,maternitywear
• Liz Lange,maternitywear
• Sara Blakley,Spanx
• Sara Blakley,Spanx
• Pierre Omidyar,ebay
• Pierre Omidyar,ebay
8
Do what you love
• Coco Chanel, Helena Rubinstein and Elizabeth Arden – fashion / cosmetics
• Yvon Chouinard, Patagonia• Alice Waters, Chez Panisse• Ben Cohen and Jerry
Greenfield, Ben & Jerry Ice Cream
• Coco Chanel, Helena Rubinstein and Elizabeth Arden – fashion / cosmetics
• Yvon Chouinard, Patagonia• Alice Waters, Chez Panisse• Ben Cohen and Jerry
Greenfield, Ben & Jerry Ice Cream
9
Poll
Which other entrepreneurs come to mind who met their own (or someone important to them) need and developed a successful business?
10
Questions
11
Look Outside of You
12
Unmet Need in the Market
• Ronald Grzywinski, Milton Davis, Jim Fletcher and Mary Houghton, ShoreBank
• Camille Bressler, Michael Levoshko, Mel Benson, Denise Gallagher, Matt Vinikas, and Marcia Stein, Senior Whole Health
• Rick Alden, Skullcandy
• Jerry Torres, Torres Advanced Enterprise Solutions
• Ronald Grzywinski, Milton Davis, Jim Fletcher and Mary Houghton, ShoreBank
• Camille Bressler, Michael Levoshko, Mel Benson, Denise Gallagher, Matt Vinikas, and Marcia Stein, Senior Whole Health
• Rick Alden, Skullcandy
• Jerry Torres, Torres Advanced Enterprise Solutions
13
Changes in the Market Opens Opportunity: Technology, Regulation
• Regulation, MCI and Sprint
• Technology, Vonage and Technology, Skype
• Technology, Flickr
• Technology, Netflix
• Regulation, MCI and Sprint
• Technology, Vonage and Technology, Skype
• Technology, Flickr
• Technology, Netflix
14
Changes in the Market Opens Opportunity:Demographic, Psychographic/Lifestyle, Behavior
• Children who have autism
• People who are visually impaired
• Girls who surf or want to
• Children who have autism
• People who are visually impaired
• Girls who surf or want to
15
Changes in the Market Trends Opens Opportunity: Perception
• Whole Foods
• Method, Seventh Generation
• Domini Social Investments
• Borrego Solar
• Whole Foods
• Method, Seventh Generation
• Domini Social Investments
• Borrego Solar
16
Poll
Which other entrepreneurs come to mind who took advantage of a change in the market?
17
Questions
18
Be Creative
19
Damn I Should Have Thought of That: The Obvious
• Gary Burrell and Min Kao, Garmin-GPS
• Herb Kelleher, Southwest Airlines
• Charles Schwab, Schwab
• William Wang, Vizio
• Gary Burrell and Min Kao, Garmin-GPS
• Herb Kelleher, Southwest Airlines
• Charles Schwab, Schwab
• William Wang, Vizio
20
Phoenix Rising: Out of the Ashes of Failure Can Come Success
• Fritz Maytag, Anchor Brewing
• Led by Dr. Daryoosh Vakhshoori Ahura Scientific
• Douglas Quikut, Ginsu
• Pfizer, Viagra
• Fritz Maytag, Anchor Brewing
• Led by Dr. Daryoosh Vakhshoori Ahura Scientific
• Douglas Quikut, Ginsu
• Pfizer, Viagra
21
Counter Intuitive: Huh!
• Online book store
• Online video rental
• Low priced store, yet employees have benefits
• Online book store
• Online video rental
• Low priced store, yet employees have benefits
22
Scratch a Niche
• Bob Johnson, BET• Rick Alden, Skullcandy
• Staffing agency for nonprofits and fashion industry
• Fiscal management for nonprofits
• Bob Johnson, BET• Rick Alden, Skullcandy
• Staffing agency for nonprofits and fashion industry
• Fiscal management for nonprofits
23
Poll
Which other entrepreneurs typify the creative entrepreneur?
24
Questions
25
Push the Envelope
26
Necessity Is the Mother of Invention: There’s Got to Be a Better Way
• New Leaf Paper• Better World Books• Organic Valley of Farms• Yahoo, Google,
Amazon, Ebay, LinkedIn
• New Leaf Paper• Better World Books• Organic Valley of Farms• Yahoo, Google,
Amazon, Ebay, LinkedIn
27
Bright Idea: May Be Not
• Zipper
• Ballpoint pen
• Aerosol spray can
• Tab to open soft drinks
• Velcro
• Zipper
• Ballpoint pen
• Aerosol spray can
• Tab to open soft drinks
• Velcro
28
Poll
Which entrepreneurs created new processes or new products?
29
Questions
30
Have Others Help You
31
Your Passion:Dogs
Your Passion:Dogs
Brown
Fleas
BlackSmall
Exercise
Leash
Collar
Yellow
Big
Clean-up
Walk
Mind Mapping
32
Your Passion:Dogs
Your Passion:Dogs
Brown
Black
Exercise
Leash
Collar
Yellow
Clean-up
Walk
Big
Small
Fleas
Grooming
Mind Mapping
33
Mix and Match
• Industry expertise
• Passion
• Skills
• Interests
• Industry expertise
• Passion
• Skills
• Interests
34
Identify Your Reasons For Starting a Business
• This is personal journey
• There are no right or wrong answers
35
Determine the Additional Support You’ll Need
• Take classes• Join industry groups• Join networking groups• Network• Join peer-to-peer
mastermind or CEO Roundtables
• Read books and magazines on entrepreneurs and entrepreneurial techniques
• Find a mentor or advisor• Use a coach
36
Suggested Reading
• An oldie, but a goody – Peter Drucker, Innovation and Entrepreneurship
• Harvard Business Essentials, Entrepreneur’s Toolkit, chapter 2• Entrepreneur.com
– What's Love Got to Do With It? http://www.entrepreneur.com/startingabusiness/selfassessment/article76120.html
– You're the Inspiration http://www.entrepreneur.com/magazine/entrepreneur/2005/september/79406.html
– Scratch a Niche http://www.entrepreneur.com/magazine/entrepreneur/2005/august/78814.html
• 7 Methods in Choosing a Business http://www.powerhomebiz.com/vol72/methods.htm
37
Set Your Own Direction
38
Questions
Recommended