Entrepreneurship Seminar

In April 2013, we organized a 2-day  Development Seminar for Young and Aspiring Entrepreneurs in Bratislava. This seminar was designed to help people who are thinking about starting, or have already started a commercial or social enterprise in their early stages of enterprise development. Through interactive content, stories, and case study exercises, experienced entrepreneurs and veteran business owners and executives aimed to inform and inspire those who have a desire to “do good while doing good business.”

The speakers included Jack Benjamin, John Sipple, Jeff Dokmo, Ralph Gatti, and Daniel Laco. More information.

 The seminar was organized according to the 5 stages of entrepreneurship development.

  1. VISION
    Why be an entrepreneur?   
  2. IDEATION
    Where do good ideas come from? 
  3. PLANNING
    How to develop an effective plan? 
  4. CAPITALIZATION
    Where does the money come from? 
  5. EXECUTION
    Putting an effective team together 

 



 

 

1.   Vision

“All successful people men and women are big dreamers. They imagine what their future could be, ideal in every respect, and then they work every day toward their distant vision, that goal or purpose.” – Brian Tracy 

Why People Start a Business?

  1. Personal Freedom
  2. Personal Development
  3. Ego
  4. Money
  5. Passion

What about doing good?

“We need a new mindset to make capitalism an acceptable force in the world. If businesses are purely about profit and amassing bonuses, screwing people and the world in the process, then they will not be around for long, and don’t deserve to be.  But if they start to be a force for good, I genuinely think we could get on top of most of the problems of the world. And people will have a lot of fun. It is just such a satisfying way of doing things.”  – Sir Richard Branson

 

2.   Ideation

Where do Good Ideas come from?

http://www.youtube.com/watch?v=0af00UcTO-c

 

3.   Planning

Connecting People to the Mission

 


 

4.   Capitalization

Where does the money come from?

Critical Questions Planning Must Answer

  1. How much capital does the business need?
  2. How much cash is projected to be available, at what time and in what increments to repay loaned capital or to return dividends on invested capital?

Three Critical Components (from a lender/investor’s viewpoint)

  1. Executive Summary
  2. Projected Profitability
  3. Capital Needs

Critical Tools    

  • Profit & Loss Statement
  • Balance Sheet
  • Cash Flow Statement 

 

 

5.   Execution - Putting an effective team together

 

Who is the right kind of person to start a business with?

  • Shares Your Values, and Vision
  • Can Bring Skills and Experience to The Business
  • Practices Good Personal and Business Ethics
  • Can Offer Resources and Credibility to Your Business
  • Mutual Respect
 
A team is…… a small number of people with complementary skills who are committed to a common purpose, performance, goals, and approach for which they hold themselves mutually accountable.
 
Think about your team
  • Who are the team members?
  • Why these people?
  • What are they commited to?
  • Are you holding yourselves mutually accountable? 

 

  The Importance of mentor to broaden your vision.

  • He challenges your “I can’t” by his “Why not? Could we try?”