Entrepreneurship. Apply your engineering talent to create your dream company. But remember - starting a company is easy, building a successful business is hard!. [email protected] www.zeniegroup.com. 11 February 2009. StreetSmart Entrepreneuring Frankly Speaking
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Your Questions will influence theValue of my Answers.
Have you heard about the hammer that thinks everything looks like a nail?
I’m an entrepreneur and I actually do believe that “Entrepreneuring” leads to the best solutions to most business problems!
Engineering, Technology and Scienceare Entrepreneurial Tools
Customers, not technology, are its foundation.
Entrepreneurs BUILD BUSINESSESthrough INNOVATIVE SOLUTIONSto UNMET CUSTOMER NEEDS.
(Note: Entrepreneurs do exist in the public and non-profit sectors.)
“Above all, innovation is not invention. It is a term of economics not technology.”*
Entrepreneurs create discontinuities – They obsolete accepted practices and change behavior.
* Peter Drucker
“Right First Time”
“Fast First Time”
Is this true? Why?
Courtesy of Daniel H. Pink
“A Whole New Mind” Why Right Brainers Will Rule the Future2005 - page 49
Conceptual Age(creators and empathizers)
Information Age(knowledge workers)
Industrial Age(factory workers)
Maybe Walt Disneyand Steve Jobs are our prototypes
18th Century - 19th Century - 20th Century - 21st Century
The Entrepreneur’s Job is to:
This is not an analytical or statistical exercise, rather its a face to face, creative and interactive customer experience.
You have a business with $10 million annual sales serving a $1 billion market. Choose 1:
Traditional Market DefinitionFor example - 1960s Traditional US car manufacturers. Big, powerful & inefficient.
Today Prius & Hybrids
Toyota mid 1960sSmall, fuel efficient & Low Costfollowed by variety of new models
Lexus - 1989One Luxury Model, LS400followed by variety of new models
Market Power (MP) TRUMPS Intellectual Power (IP)
The more successful you become, the more competition you will attract.
How many great products were sustained monopolies? Likely response to your intellectual property:
Pfizer, Glaxo SmithKline, Bristol-Myers Squibb
AstraZeneca, Eli Lilly, Johnson & Johnson
What keeps youup at night?
Questions and Discussion