What is Entrepreneurship?

1
What is Entrepreneurship? Importance of
Entrepreneurs
2
Define

• Entrepreneurship is undertaking innovations or
  introducing new things, finance and business
  acumen in an effort to transform innovations into
  economic goods

3
Development of Entrepreneurship

• Earliest Period- Marco Polo
• Middle Ages- Theater, Architectural Works
• 17th Century- Mississippi Company
• 18th Century- Edison Whitney
• 19th 20th Centuries
• Organize/Operate
• Innovation

4
What pushes Entrepreneurship

• Hyper competition
• Changing Technology
• Short Product Life Cycles
• New Markets
• Changing Employee Drives/Motives
• Focus on Sales/Profits
• Available Capital

5
Market Conditions pushing Entrepreneurship

• Large Market
• Easy To Form Company
• Positive Tax Structure
• Positive Media Coverage
• Code of Business/Contract Law
• Strong Govt Agencies- No Corruption
• Individual Investment Mentality

6
How Will An Entrepreneur Succeed?

1. Defined Market
2. Durable Products- 18 Month Customer Payback
3. Market Growth 30-50 in 5 Years
4. Patent Protection
5. No Product Substitutions Available
6. Products Variants
7. No Strong Competition Present

1. Quick Market Dominance
2. Gross Margin 30-50
3. Staged Financing
4. ROI 10X in 5 Years (25-30/Year)
5. Positive Cash Flow in 18 Months
6. Strong Management in Industry

7
Other Needs for Entrepreneurship

• Long-Term Thinking
• Investment Community
• Banks
• Venture Capitalists
• Private Investors (Angels)

8
Entrepreneur Economic Development

• Product-Evolution Process
• Innovation
• Technological
• Breakthrough
• Government
• Employment Opportunities
• Tax Opportunities