Entrepreneurial Mindset

“Motivate, recognize and direct your creativity, sell it, and prepare for the competition”

EntrepeneurFrench. Entreprendre (n) – “Risk taker”

“Innovator or inventor who can see opportunities and have creative ideas in form of business.”

“Orang gila” “Orang nekat”

“Bosen idup” “Berani mati”

Every bloody living person that create a company (or theory, in nod to Richard Cantillon,) nurture it and develop it into ‘something’ that we all know now

Marco Polo

Richard Cantillon

Steve Jobs

Walt Disney

Bill Gates

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It is wrong to think that entrepreneurship is different from corporate.

Many corporations and big companies are started with a person, with an idea, with a goal.!

Entrepreneurial mindsetMindset is entity from belief that we have, the criteria are expectations, attitudes, habits, decisions, and opinions that we spend in looking at ourselves, others or life... Blah blah blah.

In short, mindset is your faith. Your belief.

Entrepreneur A person who is “moving forward” to the courage, persistence, optimism, perseverance, and hard-working so their business can grow.

“Around here, however, we don’t look backwards for very long. We keep moving forward, opening up new doors and doing new things… And curiosity keeps leading us down new paths.”

–Walt Disney

What makes entrepreneur, entrepreneur?

Knowing and understanding opportunity. Resourceful. Creative. Visionary. Independent thinking. Hard working. Optimism. Innovator. Risk taker. A Leader.

-- Entrepreneur of The Year Magazine

Action oriented. Think simple. Always searching for new opportunity. Chasing opportunity with high discipline. Only taking the best opportunity. Focus on executions. Energy focus on running a business.

-- McGraith & McMillan

Opportunity and “make it happen”Don’t wait for opportunity. Create it!

Intrapreneur

Entrepreneur

Social

EntrepreneurYou are working for

somebody else, but you have initiative to start something new.

You are the business owner. Period.

You have your own business and you use it for good cause. In short, you are everyday superhero.

Entrepeneurship in millennium Web 2.0 era

Creative, innovative, and able to arise facing challenges of e-commerce

Development strategy on the Internet 3-P Growth Model by Ernst & Young

Presence. You HAVE TO BE THERE. People should be able to see you. People should know you.Penetration. Your knowledge in the Internet world (social media) is crucial.Profitability. How did you get the money?

“The road to wisdom, my friend, is filled with thorns and rocks.”

Why some online business failed?Pets.com

A high profile marketing campaign gave it a widely recognized public presence, including an appearance in the 1999 Macy's Thanksgiving Day Parade and an advertisement in the 2000 Super Bowl. Its popular sock puppet advertising spokespersonality was interviewed by People magazine and appeared on Good Morning America.

Although sales rose dramatically due to the attention, the company was weak on fundamentals and actually lost money on most of its sales. Its high public profile during its brief existence made it one of the more noteworthy failures of the dot-com bubble of the early 2000s. US$300 million of investment capital vanished with the company's failure. The company was headquartered in Emeryville, California, U.S.

-- http://en.wikipedia.org/wiki/Pets.com

Started: 1998. Dead: 2000.

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Risks of being entrepreneurFinancial risk with the entrepreneur's advantage to motivate the desire to increase wealth

Be smart and aware with your financial situation. Now you can get credits and loans from banks and financial institutions. Keep your papers updated and ready.

Do NOT mix up your personal allowance with your business’ money.

Career risks - loss of employment security

Ready or not, you have to be ready. The question now is, “are you ready to get out from your comfort zone?”

Risks of being entrepreneurRisk of social life and family environment - the competition between workand family commitments

BULLSHITS. Entrepreneur or not, you will always have to balance your personal life and your professional life.

Psychological risk - the psychological impact of failure on theentrepreneur's welfare

Always, always aware with situation. Be alert. You can pray to God, have somebody you can trust and “keep moving forward”

The Entrepreneur’s Ego

Arrogance

Distrust

Major desire to succeed

Optimistic attitude is not realistic

What makes you a real businessperson or a stupid dumb-head?

Speculative business Real Business

Wealth = Money Wealth = Well Being

Illusionary wealth, magic. (life can achieve through speculation)

Intrinsic wealth (artistic life, spiritual, intelligence, intellectual)

The assets continue to increase value, the appearance of excessive (over valued asset, handsome performance)

Long-term economic contribution to human and nature / habitat

The rich getting richer, the poor getting poorerKeeping mutual maintain. (Reduce dependence on money.) Giving priority values.

"Do not work for money, make money work for you." Working today for this day.

The wealth gained from hard work, innovation, competition

Wall Street traditions No illusions, Work hard, live frugally, enjoying his time. "Work now, enjoy old age, and reserving for future generations.

Sources: Kasali, R. (2009) “Keluar dari krisis: Membangun Kekuatan Baru Melalui Core Believe dan Tata Nilai.” Depok: Inaugural speech profesor UI

Business PlanQuite contrary with general assumption about business plan, there are success stories in entrepreneurship coming up from “just do it”-attitude with no initial business plan.

The point in this part is:

Understand your market. Be clear with your objectives.

Most of the times, business plans are only fancy texts and numbers on papers. It’s all come back to you. “Make it happen.”

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The importance of business plan (because sooner or later you will need it anyway)

Business plan created to be the path for new or existing business to gain profit.

Business plan also a document required by lenders or investors, if you need external funding.

The main reason to write a business plan is for guidance to run business

It’s your guidance.

Business plan =5 W 1 H How many? Is it unique?

What’s the benefit? Outcome

Vision Mission Goal

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Interesting stuffs…Twitter: @mrshananto (for your financial welfare)Articles: ‘Free!’ by Chris AndersonBlog: sethgodin.typepad.comMovie: Walt Disney ‘Meet the Robinsons’