Who Are Entrepreneurs

David Cass
Leeds School of Business
University of Colorado
Boulder, Colorado
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David Cass
Twenty years from now, you will be more
disappointed by the things you didnt do than
the ones you did do. So throw off the
bowlines. Sail away from the safe harbor.
Catch the trades winds in your sails.
EXPLORE. DREAM. DISCOVER
-Mark Twain
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Today

Bug List
Who are Entrepreneurs?
Who did you chose for entrepreneurs?
Guy Kawasaki
Causation vs Effectuation


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Who Is This?
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Who Is This?
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Who Is This?
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Entrepreneurs Are
Opportunity orientated
Innovative
Resourceful
Passionate
Comfortable with ambiguity
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Some Vexing Questions
Are entrepreneurs born?
Is there a prototype of the entrepreneur?
Does money motivate entrepreneurs?
Do entrepreneurs want to be their own boss?
Are entrepreneurs lone wolves?
Are entrepreneurs lucky?
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Entrepreneurship as a Process
Identifying an Opportunity
Develop the Concept
Determine the Required
Resources
Acquire the Necessary
Resources
Implement and Manage
Harvest the Venture
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Entrepreneurial Process
Inspiration Goals
Plan
Fooling
Around
Doing
Plans
Mistakes
Failure
Goals
Some Other
Action
Plan
Action
Goals
Inspiration
Inspiration
Success
Pinchot & Pellman, Intrapreneurship in Action
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David Cass
Causation vs. Effectuation
Causal Reasoning begins with..
A predetermined goal
A given set of means
You find the market opportunity
Effectual Reasoning begins with
Given set of means
A broad ideano specific goals.
Make the market

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To the extent we predict
the future, we can control
it
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To the extent that we can
control the future, we
dont need to predict it
Causation vs. Effectuation


Which was Christopher Columbus?

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Causation Process
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Market Definition
Segmentation
Targeting
Postion
CUSTOMER
Effectuation Process
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CUSTOMER
Customer
Identification
Customer
Definition

Adding segments /
Strategic Partners
Several Possible Markets
Differences between the two
Causal begins with goals Effectual is
means driven
Causal focuses on return, effectual
emphasizes affordable loss
Causal depends on competitive analysis,
effectual focus on network partnerships
Causal avoids surprises, effectual is open
to surprises

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Indian Chef Example
Causal Approach

Effectual Approach
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Which do you Prefer?
What is Social Entrepreneurship?
Social entrepreneur acts like a traditional
entrepreneur
Systemic change is at the heart of social
entrepreneurship
Success defined by social impact
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