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Introduction to

Entrepreneurship

Mansoor Waqas Askaree


Common Understanding

• The boss
• The business owner
• The risk taker
• One who starts a small business
• The resourceful guy?
No single definition
French word origin

Entependre
(an undertaker)
For this Course:

Walt Disney’s definition

“….to do things and make things which will give pleasure to


people in new and amazing ways. ….It is magic!”

*From the lecture given by Larry Farrel at SBMA, August 7, 2002 and at
UAP, October 30, 2009.
Walt Disney and entrepreneurship

Simply amazing!
Magical
Entrepreneurship Involves:

LOGIC – hard issues MAGIC – soft issues


According to George Gilder – from
“The Spirit of the Enterprise”*

“It is making the world forever new. It is taking aggressive actions.”

According to Joseph Schumpeter -*


“It is destroying the old order and creating new ones.”

*From “Business as a Calling” by Michael Novak


It is About:

New:
• Business ideas
• Products
• Processes
Entrepreneurship
• A MINDSET
• About a forever innovating mindset
THE THREE MASTERIES FOR AN
ENTREPRENEUR:
• Mastery of Self
• Mastery of Opportunity
• Mastery of the Enterprise
Entrepreneurial
Leadership

Enterprise

Mastery of Mastery
Self of Organization
Corporate

Corporate
Leadership
Aspects of
Self-Mastery
Traits of an Is it better to drop out?
Entrepreneur - D’s Is it better to get F as a
and F’s grade?
D’s

• Dream
• Determined
• Details
• Decision
• Distribute
• Destiny
• Devotion
• Dedication
F’s
• Founder
• Faith
• Focused
• Frugal
• Fast
• Fun
• Flexible
• Flat
• Forever Improving
Anatomy of the Entrepreneur

The Entrepreneurial
Mind Frame

The Entrepreneurial
Heart Flame

The Entrepreneurial
Gut Game
Anatomy of the Entrepreneur

WISDOM
What lies behind us, what
lies before us, is nothing HEART
compared to what lies
within us.
GUTS

HANDS
Self Analysis
• Gifted minds
• Steely Guts
• Ability to intuit
• Courage
• Patriotic Hearts
• Hands that truly care

Do I possess all of the above?


Forms of Entrepreneurship

1. Social Entrepreneurship
2. Business Entrepreneurship
3. Techno Entrepreneurship
Social Entrepreneurship

Social Business Mix

Social Profit
NGO NGO Enterprise Business Maximization
(non-profit) (for-profit) Enterprise Business (PMB)
Business
Social CSR Enterprise
Business

• “Any creative and innovative solution applied to solve social problems” (Mohammad Yunus, 2007)
• It involves social mission
• Profit and/or entrepreneurial processes
Banker to the Poor
Social Entrepreneurship
• “Search for approaches to move poor people out of poverty beyond welfare-
based safety nets.”
• No more charities
• Sustainability
• Profits for non profits
Social Entrepreneurship
• CSR – corporate social responsibility
• CSV – corporate shared value
• Human Nature
Social Entrepreneurship
• The triple bottom line
• PEOPLE
• PROFIT
• PLANET
• BOP – Bottom of the Pyramid
BOP – Bottom of Pyramid

A-B 9%

Above poverty
C 20% threshold

D-E 31% Living on less


than $2 per day

F 40% Living on less


than $1 per day
Mother Teresa

Did what no other person has done before – to take


care of the poor, destitute and lepers
Lance Armstrong

• 7 times Tour de France champion


• His real victory is with the LAF where he helps
hundreds of cancer victims
Sir Edmund Hillary

First to conquer Mt. Everest


Sir Edmund Hillary

• came back to Nepal and helped


the Sherpas improve their living
conditions.
Mohammad Younus

• Taught Developmental Economics at the University of Chittagong in Bangladesh.

• Economics, right at the outskirt of the University, poverty was everywhere.

• He found out that all that was needed by the poor was a loan of 27 chakas. That’s
how the Grameen Bank started.
Why are they Entrepreneurs?

They had little or no resources at all but they survived and achieved

what they wanted in life


Business Entrepreneurship

Business for profit


Business Entrepreneurship

It’s about the study of systems, structure, and staffing to make a large corporation stay

competitive, innovative, and profitable on a sustainable basis.


The Business Cycle According to Larry
Farrell – Int’l Expert on Entrepreneurship

Growth Decline

Start Survival /
Failure

Entrepreneurial Managerial
Business Entrepreneurship
Entrepreneur (Self)

IDEA REALITY
TIME

Resources Opportunity
Growth

Differentiation Strategic direction


Three Competencies of the
Complete Entrepreneur
ORIGINATOR

OPERATOR implementor ORGANIZER


Compelling Reasons Why We Need
Entrepreneurs
• 90% of the world’s jobs are created by entrepreneurs
• Source of new products and innovation
• In the third-world countries, the entrepreneurs keep the sagging economies alive
• It’s the entrepreneurs – not the central bank – that keep the economy moving
• Finally...
Entrepreneurial “ION” (Process)

InspiratION (idea)
AmbitION
PerspiratION (past jobs)
+ = Idea FruitION
PassION
RecreatION (hobbies)

FrustratION (what pisses you off)

Enterprise
CreatION

Sea of Opportunity
Is Entrepreneurship Easy?

• We choose to go to the moon in this decade and do all the other things to get
there, not because they are easy but because they are hard, because that goal will
serve to measure the best of our energies and skills, because that challenge is one
we are willing to accept and we are unwilling to postpone, and which we intend
to win and others too.

-- JFK, 1962
So you Want to be a Billionaire

Put your name here:

__________________________________
THE NEXT MILLIONAIRE / WINNER

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