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NEW VENTURE CREATION

Week 2: Self Leadership & Opportunity Analysis


Unfinished topics from Last Week
Entrepreneur according to
Joseph Schumpeter:
† An entrepreneur is a person who
is willing and able to convert a
new idea or invention into a
successful innovation.
† Schumpeter also introduce the
concept of Creative Destruction,
e.g.: written mail to typewriter to
computerized to email to social
network to …
Unfinished topics from Last Week
Entrepreneurship according to
Peter Drucker:
† Entrepreneurship is about
taking risk
† In his literature “Innovation &
Entrepreneurship” Drucker
mentioned that
Entrepreneurship is not just
starting a business.
Consequences …

The good old days ☺


The old wealthy player
will not easily give up
Participation Time
What do you think about the commercial viewed
just now?
Thinking about Indonesian context. How long do you
think it would still be relevant?
What’s the threat?
Unfinished topics from Last Week
Entrepreneurs Type according to Ciputra:
† Business Entrepreneur:
Owner Entrepreneur: Creator and Owner of a business
Professional Entrepreneur: Thinks and Acts like Owner Entrepreneur
however works for big corporations, finally will become Owner too.
† Government Entrepreneur: Thinks and Acts like Owner
Entrepreneur however works for Government
† Social Entrepreneur: Thinks and Acts like Owner Entrepreneur
however motivated by social works rather than financial rewards
† Academic Entrepreneur: Thinks and Acts like Owner Entrepreneur
however motivated by better education systems

Ciputra, Quantum Leap, Elex Media Komputindo, 2008


Can you
categorize
them?
Entrepreneurial Imperative
Entrepreneurship vs. Small Business

Entrepreneurial Firms Small Business

• Proactive • Take a more “wait and see”


posture
• Innovative
• Less innovative
• Risk taking
• Risk adverse
Characteristics of Successful Entrepreneurs
Four Primary Characteristics of Successful Entrepreneurs
Characteristics of Successful Entrepreneurs

Passion for the Business


† This passion typically stems from the entrepreneur’s belief
that the business will positively influence people’s lives.
Product/Customer Focus
† An entrepreneur’s keen focus on products and customers
typically stems from the fact that most entrepreneurs are, at
heart, craftspeople.
Characteristics of Successful Entrepreneurs

Tenacity Despite Failure


† Because entrepreneurs are typically trying something new,
the failure rate is naturally high.
Execution Intelligence
† The ability to translate thought, creativity, and
imagination into action and measurable results is the
essence of execution intelligence.
Self Leadership
One should be able to lead him/her self before
lead others
Negative Self Image
Positive Self Esteem is Good

However overconfident may


also lead us to nothing

The question is …

Why some people are


having negative self image and
others are overconfident?
Your Past Experience
Make your timeline
Set your 5 points of cheerful moments
Set your 5 points of cheerless moments
10

0 5 10 15 20 25 30 35

-10
Life is Short
Personal Vision & Mission

HOW would you achieve


your target?
Goal Settings

7
5
6 4 2
3
1
Setting Personal Goals

Specific
Write down your
Measureable GOALS based on
six aspects of Life
Achievable

Relevant

Time Bound
Where is this place?
Final Prep •

700 seats
Full Air Conditioned

in progress
• Amphitheatre Style
• Best Audio Systems
• Big Stage
Two NVC seminars in November 2010

Choose your own team


Decide your team leader
Define job descriptions

The two topics are:


† Entrepreneurship for retired to be professionals
† Entrepreneurship for social organizations

Submit your Team before next session


Opportunity Analysis
How can your differentiate between IDEA and
Opportunity?
What is an Opportunity?

An opportunity has four essential qualities


Three Ways to Identify An Opportunity

Products

Market
First Approach: Observing Trends

Observing Trends
† The first approach to identifying opportunities is to observe
trends and study how they create opportunities for
entrepreneurs to pursue.
† There are two ways that entrepreneurs can get a handle on
changing environmental trends:
They can carefully study and observe them.
They can purchase customized forecasts and market analyses from
independent research firms.
First Approach: Observing Trends
Environmental Trends Suggesting Business or Product
Opportunity Gaps
Trend 1: Economic Forces

Economic Forces
† Economic forces affect consumers’ level of disposable
income.
† When studying how economic forces affect opportunities, it
is important to evaluate who has money to spend and who
is trying to cut costs.
An increase in the number of women in the workforce and their
related increase in disposable income is largely responsible for the
number of boutique clothing stores targeting professional women
that have opened in the past several years.
Many large firms are trying to cut costs. Entrepreneurs have taken
advantage of this trend by starting firms that help other firms control
costs.
Trend 2: Social Forces

Social Forces
† Changes in social trends provide openings for new
businesses on an ongoing basis.
† The continual proliferation of fast-food restaurants, for
example, isn’t happening because people love fast food. It
is happening because people are busy, and have disposable
income.
† Similarly, the Sony Walkman was developed not because
consumers wanted smaller radios but because people
wanted to listen to music while on the go.
Trend 2: Social Forces
Examples of Social Forces That Allow For New
Business Opportunities
• Family and work patterns.
• The aging of the population.
• The increasing diversity in the workplace.
• The globalization of industry.
• The increasing focus on health care and fitness.
• The proliferation of computers and the Internet.
• The increase in the number of cell phone users.
• New forms of entertainment.
Trend 3: Technological Advances

Technological Advances
† Given the rapid pace of technological change, it is vital that
entrepreneurs keep on top of how new technologies affect
current and future business opportunities.
† Entire industries have emerged as the result of
technological advances.
Examples include the computer industry, the Internet, biotechnology,
and digital photography.
† Once a new technology is created, new businesses form to
take the technology to a higher level.
For example, RealNetworks was started to add audio capability to
the Internet.
Trend 4: Political and Regulatory
Changes

Political and Regulatory Changes


† Political and regulatory changes provide the basis for new
business opportunities.
For example, laws that protect the environment have created
opportunities for entrepreneurs to start firms that help other firms
comply with environmental laws and regulations.
Government offices in Indonesia have started to implement online
systems for their public services forced traditional companies to
upgrade their systems to comply with government systems.
Second Approach: Solving a Problem

Second Approach: Solving a Problem

Sometimes identifying These problems can be


opportunities simply pinpointed through observing
involves noticing a problem trends and through more simple
and finding a way to means, such as intuition,
solve it. serendipity, or chance.

For example, Symantec Corp.


Some business ideas are clearly created Norton antivirus
initiated to solve a problem. software to guard computers
against viruses.
Second Approach: Solving a Problem

Sample of Businesses Created to Solve Problems


Third Approach: Finding Gaps in the
Marketplace

Gaps in the Marketplace


† A third approach to identifying opportunities is to find a
gap in the marketplace.
† A gap in the marketplace is often created when a product or
service is needed by a specific group of people but doesn’t
represent a large enough market to be of interest to
mainstream retailers or manufacturers.
This is the reason that small clothing boutiques and specialty shops
exist.
The small boutiques, which often sell designer clothes or clothing for
hard-to-fit people, are willing to carry merchandise that doesn’t sell
in large enough quantities for Wal-Mart, GAP, or JC Penney to carry.
Case Study
Group Discussion & Presentation
An Idea OR an Opportunity?
Dean Kamen’s Segway
Online Shipping Market Place
Riya: Face & Text Search
Assignment
Due Date: 23 September 2010 12:00
Summary Business Plan (SBP)
Create your individual summary business plan
Print your business card
Design your LOGO
Plan for Tomorrow
Submit your printed Summary Business Plan along
with your business card to bu Erlita before 12:00
Ask her receipt for your submitted Summary
Business Plan ☺
We will have a personal consultation with schedule
as follows:
† Trianggoro:All 2006 students, 2007 from 001 – 016
† Alfon: 2007 from 017 – 036

SBP Consultation starts at 14:00 – 16:30 in R.306


Mid Term Exam
30 September 2010
Things you need to prepare
Written Exam:
† Your understanding on Entrepreneurship
† The importance of Self Leadership
† Opportunity Analysis
† Business Plan

Video Clip: New Venture Pitch (1 – 3 minutes)


† Creatively record your new venture pitch using webcam or
handy cam
† Communicate your Pitch in 1-3 minutes
† Show it to your friend and ask them whether your pitch is
good enough or not.
Yang Penting …..

Bukan yang saya TAHU

Tetapi yang saya MAU