Leading As Entrepreneur

So you want to be an entrepreneur…

2 Developing the Next Generation of Leaders

I hope you are leaving CTLS with…

Stronger sense of 2 career paths to focus on for next summer

Significantly stronger analytical/strategic skill set

At least one firm digging me that I can leverage to an offer

1-2 potential real career mentors

5-10 new friends

A Roadmap to get the most out of school

Some memorable stories


MLT’s Corporate Partners


Desired Outcomes

Understand what it takes

Give each of you a framework/roadmap to prepare


Smart People who “Get it” and can tell a compelling story…

Hard Skills

» Analytical/Problem Solving Skills

» Oral/Written Communication Skills

» Industry Knowledge

» Selling Skills

» Presentation/Interviewing skills

» Time Management

» Project Management

» Standardized Test Taking

Soft Skills

» Relationship Management

» Self-Awareness

» Goal Setting/Roadmapping

» Knowing the Bar of Excellence

» Leadership

» Decision-making in Professional Environment (including minority-specific issues)

» Scrappiness/Tenacity

» Service Orientation


To be a Successful Entrepreneur…

» Vision (for plan A and plan B)

» Intuition

» Ambiguity brings out your best

» Sales mentality

» Appetite for obscurity/pride not driven by affiliation

» Hard headedness

» Tactical execution capability


What you would like to be able to say You have done…

Driven results in an unstructured environment

Crafted a strategy that delivered positive results

Built/lead a team effectively through adversity

Influenced/sold in ideas/products to customers

Fostered collaboration across functions


Entrepreneurship Readiness Framework

Skills

Who else is on your team?

Who will be willing to take a bet and be an early customer so you can prove your model?

Who can you go to for your startup funding?

Do you have a Personal Board of Directors? Who is on it?

What has given you unique insight into the opportunity?

What have you done that demonstrates that you have what it takes to build something successful?

What specific skill sets do you bring to the venture that will position it to achieve its near term goals?

Functional and technical expertise

How did you develop those skills?

Experience

Relationships

Experience

Relationships


Who should be on Your Personal Board of Directors?

Sage: Guidance on medium/LT path (“been there done that”)

Navigator: Near term guidance on tough decisions

Connector: Provide access to key people/resources

Industry/functional expert: where your team is lacking

Insider: Feedback on your readiness at each stage

Cheerleader: Positive reinforcement and honest feedback


Your Opportunity…Convince decision makers to give you the green light

» Share high concept statement - no more than 1 sentence on your idea (we are not evaluating merit of the idea)

» Share where the idea came from or how it ties to what you are passionate about

» What have you done over the last 7 years (5 years work + 2 years B-school) to make us believe you can pull this off?

» How have you developed the requisite skills?

» What experiences have given you deep insight into the opportunity?

» What experiences have prepared you to execution on the opportunity?

» What are the key relationships you have developed that will increase your chances to win/make your investors money


Clusters Technology (includes web-driven)

Manufacturing/product-oriented (B2B or B2C)

Professional Services

Consumer Services

Social entrepreneurship/non-profit

Media & Entertainment

C-Level executives (those who do not aspire to be entrepreneurs)


Your Action Plan

» What are the implications for what you need to do during and after business school?

» To get the insight, skills, experiences, relationships

» What are the implications for your job search while in B-school?

» What are the implications for your early jobs after B-school?


Questions…

» What are the holes in your story?

» What are the differences between your initial thoughts and your new action plan?

» Where do you see your personal life in 7 years and what tradeoffs are required?



Prioritizing the Keys to MBA Success

Academics

Career Transition

Personal Growth

Extracurriculars

Relationship Development

Career Transition • Job search• Career exploration

and education• Industry specific skill

building

Extracurriculars• Clubs• Sports• Community• Social

Personal Growth• Commit to your own

development• Remember why you

are there• Have a plan for

personal growth and work it

Relationship Development

• Cuts across all areas• Don’t just focus on

minorities


Relationship Management During Business School

TIER 1

Who/what• Extra-curricular activity participants• Organizations on and off campus• Professors• Corporate folks coming to campus

POA• Be active in extracurriculars; Hang out

socially outside section• Strong relationships w/ 2+ Professors• Add Value/help peers• Do well in class - memorable comments• Visit other schools (conferences, etc)

Who• Students who don’t know

you well• Corps & faculty

POA• Manage positive or no

“reputation”• Good word of mouth• Be good in class• Take on leadership roles

Who• Section mates• Close friends• Study Group

POA• Invest time• Not just minorities• Add Value/help• No drama

TIER 2

TIER 3

Takeaways• Be intentional but genuine• It won’t just happen• Work outside comfort

zone• Manage downside

TIER 2

TIER 3