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Entrepreneurs: Heroes in Egypt’s Economic Development
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Prepared by : Yahia Mohamed Reda
Benha University – faculty of science
Are you going to take an office job …
… or become an engineer, or doctor, like the rest of Egypt?
ENTREPRENEUR
Because they innovate Create competition Create new jobs Generate revenue and inspire others
NOT
• Copying existing models
• Lazy
• Quitter
• Content with ‘the way things are’
YES
• Innovative (adding value)
• Loves change, risk
• Workaholic
• Team-player
• Leader
Name: Mark Zuckerberg Age: 25 Started Facebook.com while studying computer science at Harvard University. CEO and Founder of Facebook
Name: Fadi Ghandour Age: 51 Founded ARAMEX in 1982 Aramex was the first Arab company to be listed on NASDAQ
CEO and Founder of Aramex
Name: Nadia & Hind Wassef Age: 35 & 38 Opened Diwan because they loved reading, and wanted to create a place that would celebrate Arab culture.
Founders of Diwan Bookstore
Name: Mostafa Hafez Age: 26 Founded Timeline Interactive after graduating from Ain Shams University (Computer Science).
Founder of Timeline Interactive
Example of Successful Young Egyptian Entrepreneur
1. Finance
Write a business-plan
Calculate your costs
Double that! (be on safe side, you’re always
missing things)
Find angel investing (family, friends, SFD)
1
1
FIRSTEPs for Start-ups taken from material by Eric Zoetmulder
2. Interest & Commitment
Be passionate about what you do, you
won’t have time for anything else!
Don’t just go for money, you will fail
1
1
FIRSTEPs for Start-ups taken from material by Eric Zoetmulder
3. Realistic
Do market-research (who are your clients,
main competitors)
Start with realistic goals
Respond to real consumer need
1
1
FIRSTEPs for Start-ups taken from material by Eric Zoetmulder
4. Strategy
Make a strategic plan: how to go from
zero to your Unique Value Proposition
First steps for Start-ups
5. Timing
Time the release of your product
If you’re too early, consumers won’t be interested
If you’re too late, others will have taken your model
First steps for Start-ups
6. Encouragement
Get feedback from friends, family & look for a mentor.
You need their support
First steps for Start-ups
7. Planning
Plan for the worst case scenario – so
you’re always prepared.
First steps for Start-ups
Don’t be afraid to FAIL!
When you FAIL, it means you
took the RISK and learned..
FAILURE teaches you how to
do BETTER next time...
Private Sector
IMC - EBF - Social Fund – WEL - Ideavelopers
Friends – Family – Online research
“Idea”
“Start-up/ Business-plan”
“High-growth SMEs”
“Large to medium sized”
Khaled Ismail
Fatma Ghaly
Nadia & Hind Wassef
Heba Jammal & Tarek Khaddaj
Omar Fathy
Ahmed Metwally & Mostafa Hafez
Education &
Training
Role-models
& cultural
norms
Trusting
Business
Environment
Commercial &
Professional
Services
Infrastructure
Financial
Support
Government
policies
Contact me : [email protected] www.facebook.com/yahia.reda