Entrepreneurship

Prepared By:

Ahmed Abdelhammed

Abdullah Mamdouh

Kamilia MostafaMamdouh Mostafa

Options to live

Hope for helpExpect government

support

Get a jobStart something yourself

What stops us ?

Our QuestionsOur

Backgrounds

Our IsolationsOur fear of

failure

Why we start a business?

Sell Deliver Make Invent

Build Grow

Or make the world….a better place

What is Entrepreneurship ?

Entrepreneurship is the willingness to take risks and develop, organize and manage a business in a

competitive global marketplace.

What is Entrepreneur ?

A person who organizes and operates a business, taking on greater than normal financial risks.

Businessman & EntrepreneurStarts a business from an

existing idea or concept.

Starts a business from his

own unique idea or

concept.

Traditional Innovative

Stay Safe Risk taker & accountable

Market player Market leader

Some Traits about Entrepreneurs

FlexibleSelf

Motivated

Good

Common Sense

Good Timing

Types of Entrepreneurs

“SMILE”

System• Someone who is happy to buy a proven system and use it by his own way.Ex: franchise.

Money• Someone who measure his success by the number in the bank.

Innovator• Enjoy developing new ideas.

LifeStyle• For those who want there hoppy as their job and gain money from it.

• Those who want power and influence and to see their brand everywhere.

Empirebuilder

Pros & Cons

Can make a lot of

money Risk

Independence Time

8 steps to be a successful Entrepreneurs

8 steps to be a successful entrepreneurs

• Slow & steady wins the race.

• Fake it until make it.

• Ask and you will receive.

• If it's been Done Before Don't Do it again

• Learn from your mistakes.

• Enjoy what you do

• Take your job seriously.

• Its all about the customer

When this came out,

How did people react?

Diffusion of Innovations

Diffusion

Diffusion is the process by which an innovation is communicated through certain channels over time

among the members of a social system.

Who are the adopters?

InnovatorsThey don’t hesitate to try new

things

They usually have the money

They want to be different

Early Adopters They are the richest

The are wiser than innovators

They decide whether your product will

succeed

Early Majority

Upper middle class

Regular communication with Early

Adopters

You will be happy to reach them

“Everyone is using it”

They get the best versions of your

product

Late Majority

Laggards

Critical mass

So where is this on that graph?

So where is this on that graph?

Steps of adoption for an individual

Knowledg

e PersuasionDecision

ImplementationConfirmation

• Knows about the innovation’s existence

• No further information

• No interest to find more

Knowledge

• Interested

• Wants to find out more about the innovation

Persuasion

• He either adopts or rejects the innovation

• By weighing advantages and disadvantages of using it

• The most difficult stage

Decision

• Employs the innovation in his life

• Further determination of usefulness

• Can seek more information and details about it

Implementation

• Gives a final opinion about the innovation

• Stop using it or continue to use it

Confirmation

What shapes the individual’s decision…

Relative advantage

vs.

Compatibility

Complexity

vs. Simplicity

Trailability

Observability

Pay attention to Homophiles

Heterophilescan be really useful

Recap

Any Questions?

Thank You