The Eight Ps of Entrepreneurship

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The Eight Ps of Entrepreneurship
College of Business Public Administration

• Mike Stull
• Director, Associate Professor

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ENTREPRENEURSHIP

• We are shifting from a managerial society to an
  entrepreneurial society.
• John Naisbitt
• Entrepreneurship is becoming to the world what
  architecture is to the world of building
  buildings.
• James Collins, co-author of Built to Last
• Going into business for yourself, becoming an
  entrepreneur, is the modern-day equivalent of
  pioneering on the old frontier.
• Paula Nelson

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THE EIGHT PS OF ENTREPRENEURSHIP
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• PASSION
• "The most powerful weapon on earth is the human
  soul on fire.
• Field Marshal Ferdinand Foch
• A business has to be involving, it has to be
  fun, and it has to exercise your creative
  instincts.
• Richard Branson
• Enthusiasm is one of the most powerful engines
  of success. When you do a thing, do it with all
  your might. Put your whole soul into it. Stamp it
  with your own personality. Be active, be
  energetic and faithful, and you will accomplish
  your object. Nothing great was ever achieved
  without enthusiasm.
• Ralph Waldo Emerson

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THE EIGHT PS OF ENTREPRENEURSHIP
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• PREPARATION
• The time to prepare isnt after you have been
  given the opportunity. Its long before that
  opportunity arises. Once the opportunity arrives,
  its too late to prepare.
• John Wooden, basketball coach of ten (10)
  championships teams at UCLA
• The general who wins the battle makes many
  calculations in his temple before the battle is
  fought. The general who loses makes but few
  calculations beforehand.
• Sun Tzu

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Preparation Equals

• Opportunity analysis
• Great idea vs. great opportunity
• Self-Awareness
• Know what you dont know
• Business Plan
• The road map for your business

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THE EIGHT PS OF ENTREPRENEURSHIP
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• PURSUIT
• The identification and relentless pursuit of
  opportunity is what drives the entrepreneurial
  process
• "I never perfected an invention that I did not
  think about in terms of the service it might give
  others... I find out what the world needs, then I
  proceed to invent.
• Thomas Edison
• The entrepreneur always searches for change,
  responds to it, and exploits it as an
  opportunity.
• Peter F. Drucker

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THE EIGHT PS OF ENTREPRENEURSHIP
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• PEOPLE
• Teams
• In the world today, theres plenty of
  technology, plenty of entrepreneurs, plenty of
  venture capital. Whats in short supply is great
  teams.
• John Doerr, Venture Capitalist
• Social Networks
• Strong and Weak Ties
• Partnership and Leadership
• "Our success has really been based on
  partnerships from the very beginning.
• As we look ahead into the next century, leaders
  will be those who empower others.
• Bill Gates

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THE EIGHT PS OF ENTREPRENEURSHIP
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• PROACTIVENESS
• The critical ingredient is getting off your butt
  and doing something. It's as simple as that. A
  lot of people have ideas, but there are few who
  decide to do something about them now. Not
  tomorrow. Not next week. But today. The true
  entrepreneur is a doer, not a dreamer.
• Nolan Bushnell, founder of Atari and Chuck E.
  Cheese's

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THE EIGHT PS OF ENTREPRENEURSHIP
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• PERSEVERANCE
• "When you reach an obstacle, turn it into an
  opportunity. You have the choice. You can
  overcome and be a winner, or you can allow it to
  overcome you and be a loser. The choice is yours
  and yours alone. Refuse to throw in the towel. Go
  that extra mile that failures refuse to travel.
  It is far better to be exhausted from success
  than to be rested from failure.
• Mary Kay Ash, founder of Mary Kay Cosmetics
• Nobody talks of entrepreneurship as survival,
  but that's exactly what it is and what nurtures
  creative thinking.
• Anita Roddick
• You need to think your way out of a corner, meet
  needs, and never, never accept no for an answer.
• John Johnson, founder of Johnson Publishing Co.

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THE EIGHT PS OF ENTREPRENEURSHIP
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• PERSPIRATION
• The only place where success comes before work
  is in the dictionary
• Vidal Sassoon
• I can't imagine a person becoming a success who
  doesn't give this game of life everything he's
  got.
• Walter Cronkite

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THE SEVEN PS OF ENTREPRENEURSHIP
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• PHILANTHROPY
• I don't want to be a Russell Simmons, greedy-ass
  entrepreneur. I would like to be a Russell
  Simmons, philanthropist/activist.
• Russell Simmons
• Ridiculous yachts and private planes and big
  limousines wont make people enjoy life more, and
  it sends out terrible messages to the people who
  work for them. It would be so much better if that
  money was spent in Africa and its about
  getting a balance.
• Richard Branson
• What material success does is provide you with
  the ability to concentrate on other things that
  really matter. And that is being able to make a
  difference, not only in your own life, but in
  other people's lives.
• Oprah Winfrey

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THE EIGHT PS OF ENTREPRENEURSHIP

• Passion
• Preparation
• Pursuit
• People
• Proactiveness
• Perseverance
• Perspiration
• Philanthropy
• Underlying Theme of 8 Ps PERFORMANCE

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• Success is not the result of spontaneous
  combustion
• you must set yourself on fire.
• When you set yourself on fire, people love to
  come and see you burn.