September 7, 2017

on Communication and Listening

Listen, learn, change.

~ David Gergen ~
What Is Entrepreneurship?
It is a socio-economic phenomenon.
Engine of economic growth
Creator of wealth and employment.
What Is Entrepreneurship?
It is a creative and innovative human act.
Ability to create and build a vision from practically nothing.
Vision requires willingness to take calculated risks.
It is a discipline, hence it can be learned Peter Drucker
Definition of Entrepreneurship
Entrepreneurship is the ability to create and build a vision from practically nothing.
Fundamentally, it is a human, creative act. It is the application of energy to initiating and
building an enterprise or organization, rather than just watching or analyzing. This vision
requires a willingness to take calculated risks both personal and financial, and then to
do everything possible to reduce the chances of failure.

Entrepreneurship also includes the ability to build an entrepreneurial or venture team to

complement your (the entrepreneur) own skills and talents. It is the knack for sensing an
opportunity where others see chaos, contradiction, and confusion. It is possessing the
know-how to find, marshal and control resources, often owned by others.

Professor Jeffrey Timmons (1990)

Entrepreneur Are Made and Not Born
The entrepreneurial mystique? Its not
magic, its not mysterious and it has nothing
to do with the genes. It is a discipline. And
like any discipline, it can be learned.
Peter Drucker
Why People Become Entrepreneurs?
Definition of an entrepreneur French word entreprende
meaning go between or enter to undertake. A person who
undertakes to organize, manage and assume risks of business
How people become entrepreneur ? By Necessity and
Opportunity, Design and Default
Triggered by Social Disruption or Interruption
Entrepreneurs are created in good and bad economic times.
Achievements and Financial Rewards for an Entrepreneur.
Many begins but few make it.
Who Are The Entrepreneurs?
Paradigm shifters, innovators and opportunists creative destroyers
Key change catalysts and agents
Wealth and employment creators
Economic engine drivers
Key actors of the Malaysian Economy
Entrepreneurs are made and not born entrepreneurial propensity
You can be the entrepreneur - if you have what it takes
People who like to be their own boss
People who has experienced a social disruption?
Necessity and opportunity entrepreneurs
Entrepreneurial Traits (1)
Innovative & Opportunistic
Willingness to take risk
Initiative
Self reliance
Perseverance (keep trying to achieve something)
Need to achieve
Self confidence
Entrepreneurial Traits (2)
Leadership
Competitiveness
Good physical health
Creative
High level of energy
Versatility
Entrepreneurial Traits (3)
Ability to get along
Patience
Well organized
Desire for money
Tolerate uncertainty
Need for power
Need for affiliation
Difference Between Entrepreneurship And
Small Business
Entrepreneurship Small Business
Innovation Little innovation
Fast growth Static growth
Vision Little vision
Employment creation Family business
Money making machine Earning a livelihood
Higher risk Low or minimum risk
 Entrepreneurship Statistics
Do You Know?
About 1 million businesses are formed each year
Between 70 to 80% failed the first year of start-up
10% to 20% last through the next 5 years
Venture investment 1:10 success rate
Venture capitalists expects between 5 to 10 times return
Source : US Statistics
 Entrepreneurship Statistics
Do You Know?
6 in a million with a high tech business idea eventually becomes a
successful company that goes public / IPO.
Fewer than 20% of the funded starts-up go public.
Bankruptcies occur for 60% of the high tech companies that
succeed in getting venture capital.
Venture capital investors own a large part of the start-up by the
time it goes public: 70 % of hardware companies, 60% of software
companies and 50% of internet companies.
Source : US Statistics
Thank you very much!

Technopreneurship