Entrepreneurship v1.0

8/12/2019 Entrepreneurship v1.0

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OverviewWhat is Entrepreneurship?

Entrepreneur come from French word that consist ofENTRE and PRENDRE.

ENTRE means between PRENDRE means to take So Entrepreneur has synergy meaning that Anyone who build new

venture to take on the risk for selling the products or services

Kuliah/ DS / Oktober 2012


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Some definition for Entrepreneur

Academic Definition (Stevenson & Jarillo)o Entrepreneurship is the process by which

individuals pursue opportunities without regard toresources they currently control.

Venture Capitalist (Fred Wilson)o Entrepreneurship is the art of turning an idea into

a business.Explanation of What Entrepreneurs Do

o Entrepreneurs assemble and then integrate all theresources needed the money, the people, thebusiness model, the strategy needed totransform an invention or an idea into a viable

business.



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Few Things in Entrepreneurship


Innovation

Startup

Venture Capitalist

Angel Investor

Bootstrapping Founder

MVP

Fund Raising

OpportunityIdeas

Passion

Visionary

Uncertainty


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Why Become an Entrepreneur?

The three primary reasons that people becomeentrepreneurs and start their own firms


Desire to be theirown boss

Desire to pursuetheir own ideas

Financial rewards


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Characteristics of Successful Entrepreneurs


SuccessfulEntrepreneur

Passion for thebusiness

Product/customerfocus

Tenacity despitefailure

ExecutionIntelligence


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Personal Characteristics of the Entrepreneur


Prior Experience Cognitive Factors

Social Networks Creativity


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What is Startup?

A STARTUP is a humaninstitution designed tocreate a new product or

service under condition ofextreme uncertainty

ric Ries The Lean Startup



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The Lean Startup E r i c R i e s

1. Entrepreneurs are everywhere -dont have to work

in a garage.

2. Entrepreneurship is management a startup isinstitution, not just a product, and so it requires a new kind ofmanagement.

3. Validated learning entrepreneur exist to learn how to buildsustainable business by do iterative experiments.

4. Build-Measure-Learn The fundamental activity of astartup is to turn ideas into products then measure how customersrespond then learn whether to pivot or perserve

5. Innovation accounting measure progress of milestonesplanned and prioritize the work.



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Startup milestones in entrepreneurial stage


Idea Generation

Feasibility Study Business Planning

Business Modelling Execution

Grow

VISION, MISSION and VALUESCapability: Marketing, Product Development, Operation, Finance and Legal


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Business Model Canvas Alexander Osterwalder



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Entrepreuner must undertsand sales andmarketing

Marketing strategy: Segmentation, Targeting &

PositioningMarketing communication: Viral, Promotion,digital marketing via social mediaBrand management : build corporate identity,product brand and image

Build sales force team or distributorship,reseller or direct selling.Formulating price strategy



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Entrepreuner focus on product development

Product strategy formulation

Building the winning team for productadvantageTechnology utilizationProduct life cycle managementEngage communication betweencustomer and product developmentteam



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Entrepreuner must has operational skill

Operational strategy formulation

Ensure that value chain alongproduction process to market areeffective and efficient.

Analyze which one your CORE andNon-CORE resources and activities by

always decide make or buythroughout production process



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Entrepreuner must a financial literate person

Financial planning: forcasting dan

budgetingInvestor managementDetermine financial performance target,monitoring and control:

Revenue growth

ProfitabilityEfficiencySustainbilityLikuidity

Setup a well finance and accounting

standardIntegrity and complianceTax planning


Financial Ratios


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Recommended Books


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