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Entrepreneurship 7e

VIEWS: 7 PAGES: 13

									      Welcome



Product Innovation &
 Commercialization

  ECE & CS 599

                       1
                  The Autodesk File
•   Relevance to the class project?
•   Why meet with HP?
•   Importance of Organization & Communication?
•   Quality control
•   Customer input
•   Why was it Chaotic?
•   Corridor principle: New pathways or opportunities will arise that lead
    entrepreneurs in different directions.

• Thinking outside the box?

                                                                             2
Phases of an entrepreneurial venture

 •   Proof of Concept (invention, can it be done)
 •   Proof of Commercializability (produced, delivered, supported)
 •   Proof of Business Viability (demand, market size, profit potential)
 •   Implementation (business model, resources, strategy)
 •   Revenue Generation (sales, marketing, support)
 •   Sustainability (growth, follow on products, new markets)



                                                                     3
Table 2.1 Financial Analysis Emphasis




                                        4
The Evolution of Entrepreneurship
• Entrepreneur is derived from the French
  entreprendre, meaning “to undertake.”
  – The entrepreneur is one who undertakes to
    organize, manage, and assume the risks of a
    business.
• Although no single definition of entrepreneur
  exists and no one profile can represent today’s
  entrepreneur, research is providing an
  increasingly sharper focus on the subject.

                                                    5
   A Description of Entrepreneurship
• Entrepreneurship
   – The process of creating incremental wealth.
   – A dynamic process of vision, change, and creation.
       • Requires an application of energy and passion towards the
         creation and implementation of new ideas and creative
         solutions.
   – Essential ingredients include:
       • The willingness to take calculated risks—in terms of time,
         equity, or career.
       • The ability to formulate an effective team; the creative skill to
         marshal needed resources.
       • The fundamental skills of building a solid plan.
       • The vision to recognize opportunity where others see chaos,
         contradiction, and confusion.

                                                                        6
 The Myths of Entrepreneurship
• Myth 1: Entrepreneurs Are Doers, Not Thinkers
• Myth 2: Entrepreneurs Are Born, Not Made
• Myth 3: Entrepreneurs Are Always Inventors
• Myth 4: Entrepreneurs Are Academic and Social Misfits
• Myth 5: Entrepreneurs Must Fit the “Profile”
• Myth 6: All Entrepreneurs Need Is Money
• Myth 7: All Entrepreneurs Need Is Luck
• Myth 8: Ignorance Is Bliss For Entrepreneurs
• Myth 9: Entrepreneurs Seek Success But Experience High Failure Rates
• Myth 10: Entrepreneurs Are Extreme Risk Takers (Gamblers)


                                                                 7
Different views of the process


   • Macro View
   • Micro View


                                 8
Figure 2.4

Variables
in New-
Venture
Creation




             9
               Assignments
•   Assemble the product team
•   Decide the product
•   Discuss product viability
•   Entrepreneurship text reading:
    –   Part 3 Developing the Plan (page 208)
    –   Sections 7, 7a & 9
• The AutoDesk File reading:
    –   July 1983 Meeting
    –   Low Rent 3D
    –   Electric Malcolm
    –   October 1983 Meeting
    –   Piece of Cake
    –   Information Letter 10
    –   Information Letter 11
    –   Party Time
    –   The Deal on the Table
    –   AutoCAD Lite
    –   Taxes and Such



                                                10
          Thoughts on the Team
                The 6 Cs
•   Could you Cohabitate (on a sailboat to Fiji)?
•   Can you Complement each other?
•   Can you Criticize each other?
•   Can you Coax enthusiasm?
•   Can you handle Creative solutions?
•   Can you last to Completion?


                                                    11
       Guest Speaker

    Rich Bader

Entrepreneurial Travels
   thru the Cosmos


                          12
                             Rich Bader
      President & CEO, EasyStreet Online Services
•   Rich has earned his salt and pepper hair with over 25 years of experience in high
    tech companies. Rich’s career spans the minicomputer era at Digital Equipment
    Corp., the microprocessor and PC revolution at Intel, and now, for over 10 years,
    leading EasyStreet Online Services in the Internet and IT world, now Oregon’s largest
    locally owned ISP and managed services provider.
•   Rich combines a lifelong passion for technology with an appreciation for markets and
    customers, finding ways to innovate, satisfy customers, and build successful
    companies. Rich lived the globetrotting high tech lifestyle for 12 years at Intel, co-
    founding their successful entry into the PC end user products business. After
    consulting for numerous companies around the country, Rich gave up the frequent
    flier miles for the regional focus of EasyStreet, balancing the challenges of high tech,
    with the rewards of deeper roots.
•   Rich gives back to the community that supports his company and family. He’s served
    on numerous boards and committees. Currently, he’s on the SAO Board and
    Executive Committee, the board of the Open Technology Business Center (OTBC),
    and was appointed by Gov. Kulongoski to the Oregon Growth Account board. A
    sought-after speaker and emcee, Rich enjoys sharing his experiences in an
    entertaining way. He also enjoys travel, wine, cycling, and playing guitar.
•   Rich has a BSEE from Northeastern University.


                                                                                        13

								
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