Entrepreneurship

1
Entrepreneurship Open Technology

• Northwestern School of Law
• Lewis and Clark College
• 11.3.2005

2
First Start-Ups

• Ater Wynne
• Its not precedent.
• But we dont market.
• Four business plans under the bed

3
Second Start-Up

• Developed and distributed web-enabled higher
  education programs to adults working in
  tuition-reimbursing companies
• Model 1 Develop and distribute directly to
  working adults
• Model 2 Distribute to working adults through
  corporate tuition reimbursement infrastructure
• Model 3 Distribute corporate tuition
  reimbursement management to enable working adult
  access to online education

4
Phases

• 1998-early 2000 Rock and roll aka the Bubble
• April 2000 9/11/01 Just manage your burn
  rate/extend the runway
• 9/11/01 2002 Just get to cash flow even on the
  lowest possible run rate
• 2002 2004 Just survive to see another day

5
Third Start-Up -- OTBC

• The pace of open technology business launches is
  accelerating
• Opportunities for innovation and entrepreneurship
  are distributed internationally
• Industry leaders are influencing open technology
  internationally
• OTBC-Beaverton is a laboratory for open tech
  entrepreneurship
• 15 startups and open source projects in the
  Center or pipeline
• There is no magical business model
• The fundamentals still apply
• Existing support structures are incomplete or
  insufficiently networked

6
What Entrepreneurs Do

• Chart new directions in established fields
• Launch new products
• Launch new businesses
• Change a process or practice
• Set new precedent
• Compare innovators

7
Entrepreneur Types

• Big and bold thinker
• Link disparate things in novel ways
• Refuse to give up
• Build new things that last
• Capitalize on opportunity or luck

8
Common Traits

• Money matters but as a symbol of successful
  entrepreneurship
• Burning desire to start something new
• Willing to delay gratification
• Ability to convince others to sign up
• Commitment to the cause
• Tolerance of ambiguity and change

9
Limitations of an Entrepreneur

• May not give up when he/she should
• May not be able to lead when its time to
  transition to steady growth
• May not listen to counsel
• May not play well with a team

10
Sad Tales of Entrepreneurship

• Burned once and now bitter
• Unable to find good mentors/support
• Leave angry investors in wake
• Overstep bounds of ethics
• Flame out big and cant rebound
• Lose important relationships

11
Critical Expertise

• Positioning strategy design and preservation
• Understanding of market/customers
• Domain or other relevant experience
• Relevant business models
• Know your numbers
• People, people, people . . .

12
Ensuring Success

• Know or figure out what you do best
• Do it with confidence
• Select mentors and advisors for balance and
  empathy
• Practice open communication but inspire
  confidence
• Keep at least one friend or family member around
  who can keep you grounded