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Foundations of Entrepreneurial Leadership

Class 4 – Industry/Context. Foundations of Entrepreneurial Leadership. Industry/Context: The state of the industry… and how to work that into your pitch. MGT 190/290 Prof Frey: Frey@gwu.edu. Review - THYPO. Under the topic: THYPO Things I hope you’re picking up on. Review - THYPO.

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Foundations of Entrepreneurial Leadership

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  1. Class 4 – Industry/Context Foundations of Entrepreneurial Leadership Industry/Context: The state of the industry… and how to work that into your pitch MGT 190/290 Prof Frey: Frey@gwu.edu

  2. Review - THYPO Under the topic: THYPO Things I hope you’re picking up on

  3. Review - THYPO • YOU are the information filter • Critical thinking skills = enduring • Make a list of YOUR top takeaways. Store it away. • A winning approach: • Good people-oriented pitch (“investors are people too”) • Numbers to back it up • Networks/Mentors/Networks/Mentors • People who support each other: It can all start with “Hey, do you know a good accountant?”

  4. Review - THYPO • Entrepreneurship – a viable career path • Small business – 50% of the workforce • Women – starting businesses in record numbers • The catch: “We” vs. “Me” – how to build a scalable VENTURE

  5. Review - THYPO • Thinking Entrepreneurially – we all have our own path • Ted – Thinking Big, Going Gangbusters • Laura Lee – Feeling her way from Fortune 500 • Examples from text and your women entrepreneur blogs • ALL are DETERMINED, FOCUSED and SUCCESSFUL, WHY? They take EDUCATED RISKS.

  6. Review - THYPO • Thinking Entrepreneurially – Where does it come from? Where can we apply it? • Misery (Office Space, Baby Boom) • Surprises/ Serendipity (Legally Blonde) • School, work, home • Mind Mapping, rapid prototyping, opportunity journal/idea file, customers • But, don’t say “I can’t do that”

  7. Review - THYPO Remember this? Hey. There’s some good stuff in here. Your brain on Mind Mapping.

  8. Review - THYPO • You, The Entrepreneur: • Self Knowledge: Strengths, Weaknesses • Self Knowledge: What I like vs. “What I’m good at.” • Fine line: Between building weaknesses, and focusing on strengths • Self awareness helps: • Building team • Self-correction/regulation

  9. Review - THYPO Together, they are the perfect manager/leader • Remember this? Mary Kay Leadership Team Management

  10. In this Session • Feasibility Plan Focus: Industry/Context • Introduction: Market • Concept Pitches

  11. Anatomy of a Feasibility Plan Executive Summary Concept Value Proposition Value Model Industry/Context Market General Specific Competition Direct/indirect Strategic Differentiation Financial Information Startup Costs Pro Forma Income Statements Balance Sheet Sources of Funding Management Team Operations Milestones Harvest Strategy You are here

  12. Sample Visuals

  13. Industry/Context Analysis(Source: Carrot Capital Business Plan Model) General Overview of Industry/Context • Historic look at industry • Present industry environment • Glimpse of future • Identify market segments w/in industry • Economic & social trends • Regulations, science/technology impact

  14. Feasibility: Industry/Context • Specific Industry/Context characteristics • New or mature? • Fast growing, stable, declining growth? • Seasonality issues? • How do general and specific industry characteristics relate to the potential success of your venture?

  15. Feasibility: Context • Other Industry/Context Issues • Technology trends • Social/cultural trends • Political issues • Regulatory climate • Economy () impact

  16. Plan: Industry/Context This section gives the “setting” within which your venture exists • Describe your “space” • How big? Who are the players? • What are the hot trends? • Describe environment: economic, regulatory, political, technological, other. (See slides 13-15) • Defend: Where/how does your venture fit?

  17. Plan: Industry/Context A tip on “how” as you are doing the following: • Describe • Defend • 2 pages MAX. • Most relevant, hard-hitting data only. • Rest put aside for appendix.

  18. Anatomy of a Feasibility Plan Executive Summary Concept Value Proposition Value Model Industry/Context Market General Specific Competition Direct/indirect Strategic Differentiation Financial Information Startup Costs Pro Forma Income Statements Balance Sheet Sources of Funding Management Team Operations Milestones Harvest Strategy You are here Refer to Market Research Doc – Session 3

  19. PREVIEW - Intro to Market • Market • General: the big picture • Target: your customers/users • Who are they? • Demographic • Psychographics • Social • How many exist? Are they accessible?

  20. PREVIEW - Demographics • Consumer • Income, Age, Gender, Occupation, Marital Status,Family size, Ethnic group, Education, Home Ownership, • Business • Industries, Sector, Years in Business, Revenues, Number of Employees, Number of Branches, Square Footage, Social (Values, Lifestyles)

  21. PREVIEW - Market • Size of market • Target users • Psychographics • Social Issues

  22. Concept Pitches • 5 Minutes total – handful of volunteers • Concept Description • Value Proposition: Convince us we can’t live without this idea • Value Mode • Industry/Context overview • Class serve as skeptics: What have you missed?

  23. For Next Session For Next Session 1. Industry/Context Plan Draft DUE: 2 pg max WEDS 9AM-in BOX @ 315 FUNGER 2. Skill Building – Women & Negotiation • READ: Negotiation PPT & article • BLOG: About negotiation exercise 3. Reading • Essentials 5 & 15 (Optional 6 – franchise, 14 – layout) • Warren case 4. Quiz – Sessions 3 & 4 5. Provide online feedback: Peer forum Keep in touch: Re bios

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