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Global Entrepreneurship, Economic Development, Government Policy of business growth, Kauffman, startups, Faris Alami presents Ethnic and Global Entrepreneurship Training, How to create an ethnic or minority friendly Economic development as well as promote Entrepreneurship
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1 Copyright 2014. All rights reserved. www.myISMinc.com
Faris Alami فَارِس ألعَلَمِي
Global Entrepreneurship Саламатсызбы!
Agenda
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• Entrepreneurial landscape • Entrepreneurial support system • Economic Development • Advocacy • Q & A
Who Is Here?
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Worked With Over 100 Organizations
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Question?
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Test 1!
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What is Entrepreneurship?
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Entrepreneur
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Kauffman Foundation
Characteristics
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Entrepreneur Need to Achieve
High Energy Level
Tolerance for Failure
CreaJvity Tolerance for Ambiguity
Internal Locus of Control
Vision
Self-‐Confidence
and OpJmism
1. Background information 2. Problem/opportunity 3. Innovative solution 4. Product/service/technology 5. Market size/share 6. Entry to market 7. Management team 8. Financials (leverage) 9. Business model 10. Milestone/use of funds 11. Recap/close 12. Pitch/commercial
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Planning Your Business
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The Plan
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Background Information
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Problem or Opportunity
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Innovative Solution
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Market Size
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• Where do you start • The pathway
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Entry to Market
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• Talented people • Trusted advisors • Contractors
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Management Team
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• Realistic assumptions • Leveraging the money?
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Financials (leverage)
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• How to make money? • Next client/engagement
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Business Model
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Milestone/Use of Funds
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• Bring it together • Ask/offer • Start doing
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Recap/Close
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Pitch/Commercial
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Pitch/Commercial
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• Keep it simple • Story telling style
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Do…
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• Use big words/jargon • Rush or push
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Do Not…
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Final Thoughts
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Business Model Canvas
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Steve Blank
GlobalTradeMission.org®
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GlobalTradeMission.org
FastTrac® NewVenturetm
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Kauffman Foundation
The Ice House
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Kauffman Foundation
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Growth Wheel Model
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Business Concept
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v WHAT does the product/service do? v HOW is it different? v WHO will buy it? v WHY will they buy it? v WHERE will it be sold/offered? v WHEN will it be ready to be sold/offered? v HOW will it be promoted and sold/offered?
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Entrepreneur Language
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v Business Model v Market segment, entry to market v Business Concept v 4 P’s and PEST v Bottom line/Breakeven point v Start up cost v Fixed and Flex expense v SWOT v Business Plan v Exit
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Costs Behind Scenes
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$880
$10
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E-Myth Revisited
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• Entrepreneur • Manager • Technician
E-Myth Revisited
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How does it work?
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E-Myth Revisited
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Balancing Role
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• Opportunities • Engagement • Plan
E-Myth Revisited
• Norm is not the same
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My View!
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Frame Work
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v Where do you want to end?
v What resources do you have?
v Or Need to get you there!
v Where are we going to start from?
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Supportive Community
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• Policy environment • History • Culture and institutional memory • Attitudes about failure • Collaborative support organizations • Celebrate entrepreneurs • An information environment
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Community
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SEMCOG
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Ecosystem Ideas
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Ecosystem
Incubators
University
Tech-‐Transfer
Talent
ExisJng Business
Networking
Loan Funds/ Angel
Investors
Venture Capital
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Ecosystem Ideas
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Networking!
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Supporting!
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Coaching
Mentoring Consulting
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Entrepreneur Coaching Is NOT
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What Does A Coach Do?
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Funding Example
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Friends and family
Crowed Funding
Micro Finance
NSF/SBIR Angel
VC
State Match
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Economic Development
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Programs Overview
Networking Workshops Talent, Jobs & Interns
Access to Capital Coaching
Incubation and Acceleration
Programs Overview Michigan Sample • Business Plan CompeJJon
– ACE-‐Event – Accelerate Michigan
• Training: – Business Model Canvas – FastTrac – JumpStart OperaJon – Ice House
• Student Accelerator – TechArb – LaunchPad
Understand Timing
How long does it take?
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Global Entrepreneurship Model
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Entrepreneurship Policy
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Kauffman Foundation
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Entrepreneurship in the U.S
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Kauffman Foundation
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Entrepreneurship Race
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Kauffman Foundation
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Entrepreneurship Race
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Kauffman Foundation
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Entrepreneurship Age
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Kauffman Foundation
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Advocacy
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• Chamber of Commerce • Committees • Associations • Small Business Association of Michigan
Important!
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Final Thoughts!
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Questions and Comments
“In-shaa Allah we’ll see you again.” (In God’s will we will see each other again.)
Thank you!
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Thank You!
شكرا لكم ونراكم قريبا إن شاء اهلل
Contact Information
Faris Alami O: 888-853-0122 Ext 2
C: 248-688-5353 faris.alami@myISMinc.com
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Thank You!
• GlobalTradeMission.org - Global Trade Mission
• Jumpstartmystartup.org – www.myISMinc.com • New Venture FastTrac-Kaufman Foundations
• First Step-Operation Jump Start
• Business Model Canvas-Steve Blank
• Growth Wheel
• Ice House!
Thank you!
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Material Credit
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