CREATIVE ENTREPRENEURSHIP Creative Industries Conference Durres, Albania February 2006 - PowerPoint PPT Presentation

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CREATIVE ENTREPRENEURSHIP Creative Industries Conference Durres, Albania February 2006

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Have you heard what they say about us? We are flaky. We're not ... Does not get bogged down with analysis. Responds flexibly to changing circumstances ... – PowerPoint PPT presentation

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Title: CREATIVE ENTREPRENEURSHIP Creative Industries Conference Durres, Albania February 2006


1
CREATIVE ENTREPRENEURSHIP Creative Industries
Conference Durres, Albania February 2006

2
Have you heard what they say about us?
  • We are flaky
  • Were not interested in profits
  • We always rely on subsidy
  • Why dont we do the popular stuff?
  • Why dont we get a Proper Job?

3
Talk to the hand!
  • Most creative businesses are like those in the
    computer games industry they tend to be small,
    under-capitalised and under-managed.
  • They get by with improvisational
    entrepreneurship, by the seat of their pants.
  • (Charles
    Leadbeater, 2004)

4
Left brain, right brain
  • Students on arts and creative courses are
    generally more practical, right brain and
    lateral thinkers than many of their peers.
  • As such, many of these students already have the
    latent competencies required for entrepreneurship

  • (Roepke 1998 et al)

5
What is the reality?
  • Creative entrepreneurs are driven by the work
    itself
  • For others, being in business is an end in itself
  • For creative entrepreneurs, being in business is
    a means to an end

6
The reality
  • Creative enterprises are characterised by
    freelance or micro businesses
  • Portfolio workers adapting their skills to a
    range of employers
  • Minimises need to take on responsibilities for
    leadership, management, human resource
    development etc
  • Limits potential for business growth

7
The reality
  • The sector does not conform to traditional
    industrial definitions
  • Prototype, equipment, reproduction and
    distribution
  • Sector is often more collaborative eg games and
    musicians songwriters, singers and record
    producers etc

8
The reality
  • Creative entrepreneurs are not driven by the
    market they often make the market
  • Rarely undertake market research
  • Need to develop bread and butter product lines

9
The reality
  • Creative entrepreneurs tend to be financially
    risk averse

10
The reality
  • Creative entrepreneurs tend to go for local
    markets
  • Fear of strategic planning
  • Weakness in making connections
  • Knowledge economy makes global business an
    opportunity even for new creative entrepreneurs

11
The reality
  • Creative entrepreneurs have difficulty in
    accessing finance
  • External perception of sector as high risk and
    bad managers limits opportunities for
    investment
  • Creative solutions being sought

12
The reality
  • Creative entrepreneurs are dismissed as mere
    lifestyle businesses
  • Term coined in 1987 to describe businesses
    unlikely to generate economic returns robust
    enough to interest outside investors

13
The reality
  • Lifestyle ventures are usually ventures run by
    people who like being their own bosses. They are
    neither financially independent hobbyists nor
    wealth seeking empire builders research shows
    that independence and the desire to master a
    craft or skill are the key drivers but they are
    in it for the income as well

  • (Wetzel, Wall Street Journal, 2004)

14
Critical Behaviours for Success
15
Integrity
  • A clear sense of values and beliefs underpinning
    creative and business decisions
  • Particularly in difficult or challenging
    circumstances

16
Conceptual thinking
  • Uses fresh approaches
  • Comes up with crazy new ideas leading to new or
    radical change
  • Listens to new ideas without pre-judgement

17
Risk taking
  • Tries new things (stretching beyond what has been
    done in the past)
  • Learns how to assess choices responsibly
  • Weighs outcomes against values and
    responsibilities

18
Networking
  • Understands networking is a key business activity
  • Networks provide access to information,
    expertise, collaboration and sales
  • Careful planning and preparation leads to desired
    results

19
Strategic Thinking
  • Valuing the planning process
  • Planning over a significant period
  • Recognises external trends and opportunities
  • Thinks through complex implications for the
    business

20
Commercial Aptitude
  • Keeps up to date with latest developments
  • Seeks out best practice
  • Identifies and seizes opportunities not obvious
    to others

21
Decisiveness
  • Resolves issues as they arise
  • Does not get bogged down with analysis
  • Responds flexibly to changing circumstances

22
Optimism
  • Persists in pursuing goals despite obstacles and
    setbacks
  • Operates from hope of success rather than from
    fear of failure
  • Sees setbacks as due to manageable circumstance
    rather than as a personal flaw

23
Customer Sensitivity
  • Builds long term relationships of trust
  • Generates expectation of high level of customer
    service
  • Regularly exceeds customer expectation

24
People Focus
  • Sees and values the best in others
  • Builds total capability of the team
  • Always considers principles of inclusiveness in
    planning and dealing with others

25
Creative Entrepreneurship
  • Technical skills marketing, finance, etc very
    important
  • Integrity and Optimism mission critical
  • Get the behaviours/attitudes/competencies in
    place
  • Creative Entrepreneurship can work on its own
    terms

26
GOOD LUCK!
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