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Steven A. Gedeon, PEng, PE, BSc, MSc, PhD, MBA [email protected] Advice to Engineers
32

Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

Dec 01, 2014

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Education

Steve Gedeon

This is really advice about life in general, but the content is based around my personal journey starting life as an engineer. This talk was delivered to a first year engineering class in Shreveport Louisiana in Oct 2013. I think it is an improvement over my talk to engineers previously posted.
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Page 1: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

Steven A. Gedeon, PEng, PE, BSc, MSc, PhD, MBA [email protected]

Advice to Engineers

Page 2: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Today’s Presentation

• My Journey– Engineer– Entrepreneur– Academic

• 8 Key Lessons

• Entrepreneurship and Personal Leadership

• Q&A

Page 3: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

• Started My Career as an Engineer– BSc (OSU) Industrial and Welding Engineering– MSc (MIT) Materials Engineering– PhD (MIT) Materials Science and Engineering– PEng Licenced Professional Engineer in Canada– PE Licenced Professional Engineering in US

• 10 Years Work as an Engineer– US Army (Advanced Materials and Manufacturing)– Italy (Advanced Materials)– Canada (Industrial Systems)

Steven A. Gedeon Engineer

Page 4: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Steven A. Gedeon Engineer

Page 5: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #1

“Find Your Niche – Specialize – Be Different”

•Become REALLY GOOD at Something!– Specialists paid better than Generalists– Value of extra-curricular Learning

• Internships, volunteering, projects…

•Follow what’s going on in the World– Read Blogs, News, Trends…

Page 6: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #2

“Learn How to Work Hard”

•School is Easy– Don’t develop Lazy or Sloppy Habits– Build your Character and Habits NOW

•Get Good Grades• If you can’t be a Good Student – Why would anyone

believe you will be a Good Employee?

Page 7: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #3

“Nobody Cares about Technology”

•They Care about Benefits to the Customer– Technology must be delivered through

Products and Services• Price, Features, Ease of Use…

– Focus on the Customer/User• Design Thinking – Product Design

Page 8: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

• Shifted My Career to Business and Entrepreneurship– MBA Part-Time in the Evenings– Jobs as VP Sales, Marketing, CTO, CFO

• 10 Years Work as an Entrepreneur– Venture Capital– Turnaround Work as CEO/President– Public Company CEO– Started Several VCs, Non-Profits and Companies

Steven A. Gedeon Entrepreneur

Page 9: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

• CEO, 3DNA Corp. (3D Graphics, New Media Technology, Shareware Product)– 6 Rounds Financing, Over 1M Users, 100 Articles, Book, Fan Sites, 130 Countries, Global Clients

• Director of Technology, Commercialization & New Ventures, Jaycor – $100 Million Corp VC in High Tech

• Venture Capitalist, Primaxis Technology Ventures (Royal Bank Seed Capital VC)• CEO, Ashurst Tech (TSE-listed, Commercialize Soviet Top-Secret Military Tech)

– $60M Raised, 26 Subsidiaries in 15 Countries, Turnaround Situation• Venture Capitalist, World Wise Tech (CDNX-listed VC and Operations Mgt Firm)• President, Impel Power Products (Mechatronic Systems)• General Manager, Mentalogic Systems (Artificial Intelligent Control Systems)• VP BizDev, General Cybernetics (Robotic Controllers)• CTO, HoloFX (3D Display Technology and Content Management)• VP BizDev, Lynx Systems (IT Solutions)• VP Corp Finance, Space Database (Application Service Provider)• VP Sales/Marketing, Toronto MicroElectronics (Single Board Computers)

Steven A. Gedeon A Few Jobs…

Page 10: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #4

“All Problems are People Problems”

•Need to Learn How to Lead People– How to Motivate– How to Ensure they Do the Right Things– How to Lead – not just Manage

Page 11: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #5

“A Rising Tide Lifts all Boats”(“When the Wind is Blowing Hard enough even

Turkeys can Fly”)

•Need to know Trends and Spot Opportunities

•Invest your Life like you would Invest your Money (Pick a good career path)

Page 12: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

• Entrepreneurship Professor at Ted Rogers School of Management, Ryerson University

– Teach the year-long Capstone Experiential Course in Entrepreneurship• Director, Ryerson Entrepreneur Institute (REI)• Director, Ryerson Angel Network• Director, Dobson Micro-Financing Seed Venture Fund• Faculty Advisor, Students In Free Enterprise (SIFE)• Faculty Advisor, Digital Media Zone (DMZ)• Publisher, Entrepreneurial Practice Review Journal• Chairman, CEO Fusion• Chairman, Research Committee, National Angel Capital

Organization• Education Committee, National Angel Capital Organization• Co-Leader, iSTEM (Business Program for Engineers)• Docent, Ostfalia Germany

Steven A. Gedeon Academic

Page 13: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

• 20+ Awards including Presidents Award of Teaching Excellence and Prosperity Leadership Award

• 35+ Regional and National Entrepreneurship Championships• Global Leader in Student Engagement and Empowerment• Largest Student-Run Social Entrepreneurship Program in

Canada (Empower Others through Positive Power of Business)• 5000+ Homeless Youth, Disabled, At-Risk Youth, Teenaged

Mothers, Aboriginals, Immigrants, African Villagers…• Largest Social Entrepreneurship Competition in Canada• Largest Business Plan Competition in Canada• Started 500+ Companies

Steven A. Gedeon Academic

Page 14: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Steven A. Gedeon Academic

Page 15: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #6

“Be Important to Someone”(“Have a Great Mission”)

•Excite Yourself

•Excite Your Employees

•Excite Your Customers

•Excite Your Employers

Page 16: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #7

“The True Nature of Entrepreneurship”

•The Most Important Lesson of All

•Not about Being an Engineer…

•Not about Starting a Business…

•Not about Making Customers Happy…

Page 17: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Entrepreneurship

• Integration of Business (or Engineering) and Personal Success

• Integration of What You Do with Who You Are• The Person IS the Business

• If you are unhappy, the business is unhappy• If you fail, the business fails

• You must Lead Yourself before you can Lead Others

Page 18: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Entrepreneurship

• Looking at what IS and Seeing what CAN or OUGHT TO BE

• Knowing that YOU Can Make it Happen!

Page 19: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Entrepreneurship

• Fundamental to the Human Spirit

• Not Just a Business Discipline

• A Way of Seeing, Thinking and Being

Page 20: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

“Be the change you wish to see in the world”» M. Gandhi

“To move the world – we must first move ourselves”

» Socrates

Entrepreneurship

Page 21: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Entrepreneurship

• Most Empowering, Freedom-Loving and Creative Force in the World– Take charge of your own life– Take charge of your own future and happiness– Take charge of your ability to create change

• Within an Employer• To start your Own Company, Product or Service• To create Social Change• To create a Better YOU!

Page 22: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Personal Successcomes from Harmony

VALUES & BELIEFS

GOALS

REALITY

ACTIONS

Page 23: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Keepin’ It Real

• Be Really Good at Something!– Find your Niche - Specialization– Prove It with Good Grades

• You Get Out What You Put In– Hard Work, Excellent Habits, Character

REALITY

Page 24: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Make Deep Connections

• Be Really Important!– To Customers, Employees, Stakeholders

• Be Important to YOURSELF

• Connect at a Deeper Level than $$

VALUES & BELIEFS

Page 25: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Set Great Goals

• Higher Goals > Higher Performance– Hierarchy of Goals

– Near and Long-Term Goals

• What Gets Measured Gets Done

• Stumbling Along vs. Planning

GOALS

Page 26: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

The Well Balanced Life

Men

tal

SocialCareer

FamilyPhysical

Educational

Fina

ncia

l Comm

unity

Long-Term GoalsYearly GoalsMonthly GoalsWeekly Goals

Page 27: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Actions Speak Louder than…

• Make and Keep Commitments– To Others and to Yourself!

• Character

• Lead by Example (yourself & others)

ACTIONS

Page 28: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Lesson #8

“Develop an Attitude”

•Knowledge– Math, Physics, Dynamics, Statics…

•Skills and Competencies– Problem-Solving, People Skills…

•Attitudes and Beliefs– Empowerment, Internal Locus of Control, Goal

and Action Orientation, Positivity…

Page 29: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Entrepreneurship is Experiential

• Like Playing the Guitar

• Need to Build Your Muscles!

• Get Started on Something!

• Failure is OK!

Page 30: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Opportunities

• Half the products/service you will buy in 5-10 years have not yet been invented…

• Half the products/services you will buy in 10-20 years have not yet been conceived…

Page 31: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

In 10 Years…

• Free, Almost Infinite Bandwidth AND Processing Power

• Non Invasive Health Devices• Pilotless Electric Cars and Planes• Free Education for the Masses• 3D On-Demand Entertainment (Holodeck)• Abundant Cheap Water• Storable, Fresh Instant Meals• Cures for Cancer, AIDS, Malaria• Genetic Disease Prediction• New Lifeforms

Page 32: Advice to Engineers, My lessons learned going from Engineer to Entrepreneur to Professor

© Dr. Steven A. Gedeon

Creating Value

Who will Create these New Products and Services???