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Stimulating Entrepreneurship

Stimulating Entrepreneurship. February 28, 2007. Today’s Discussion. Personal History Key Characteristics That Enabled Success Learned Characteristics In High School How To Stimulate Entrepreneurship How The New Economy Supports Entreprenuers. HISTORY SINCE HIGH SCHOOL GRADUATION. 2002.

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Stimulating Entrepreneurship

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  1. Stimulating Entrepreneurship February 28, 2007

  2. Today’s Discussion • Personal History • Key Characteristics That Enabled Success • Learned Characteristics In High School • How To Stimulate Entrepreneurship • How The New Economy Supports Entreprenuers

  3. HISTORY SINCE HIGH SCHOOL GRADUATION 2002 2006 1998 2004 2005 • Steady Growth • Continued Organic Growth and Growth through Acquisition • Graduated from Westmont College • Sold Majority Interest of Innovation Ads, Opened Restaurant/Lounge • Graduated from Fillmore Central School • Opened new office in West Palm Beach, FL • December 2004 - 17 employees • Business and Economics Major • Small Business Institute Participant • 4 course Entrepreneurship track • Acquired FreeScholarshipGuide.com • December 2005 - 51 employees • Named to Entrepreneur Magazine’s and PricewaterhouseCooper’s list of America’s fastest growing businesses • Met with over 50 interested buyers nationwide • Merged with a 16 yr. old DRTV agency • Named to Entrepreneur Magazine’s and PricewaterhouseCooper’s list of America’s fastest growing businesses • December 2006 – 85 employees • Founded Innovation Ads • “InTaxi” Advertising • Zero start up capital required $26.8M $26.8M $15.8M $5.4M $1.2M

  4. Today’s Discussion • Personal History • Key Characteristics That Enabled Success • Learned Characteristics In High School • How To Stimulate Entrepreneurship • How The New Economy Supports Entreprenuers

  5. Leading Characteristics • Goal: Look for these leading characteristics in your students… • Committed • Problem Solving Skills • Highly Reliable • Action Oriented • Ability to Consolidate Resources • Strong Management and Organizational Skills • Competitive • Tolerance to Work Hard • Naïveté • Common Sense • Resourcefulness • Strong Drive to Achieve • High Energy Level • Goal Oriented Behavior • Independent Thinker • Demanding • Self-confidence/Self-belief • Risk Taker • Creative Thinker • Innovator • Visionary

  6. Leading Characteristics Learned Over Time • 4. Work Environment • Action Oriented • Strong Management and Organizational Skills • High Energy Level • Highly Reliable • Ability to Consolidate Resources • Demanding • Risk Taker • Tolerance to Work Hard • Highly Reliable • Innovator • Visionary • 3. College • Independent Thinker • Creative Thinker • Goal Oriented Behavior • Resourcefulness • 2. High School • Problem Solving Skills • Independent Thinker • Creative Thinker • Competitive • 1. Youth • Committed • Self-confidence/Self-belief • Strong Drive to Achieve N/A: Naïveté, Common Sense • Goal: Look for ways to foster the development of these characteristics earlier…

  7. Today’s Discussion • Personal History • Key Characteristics That Enabled Success • Learned Characteristics In High School • How To Stimulate Entrepreneurship • How The New Economy Supports Entreprenuers

  8. Learned Characteristics In High School Key Highlights • Odyssey of the Mind • Learned creative problem-solving methods • Model English • Big project focused; not daily assignment • 1st process of independent thought • Advanced Calculus • Forced to present our career path that • Odyssey of the Mind • Learned creative problem-solving methods • Athletics • Teaches the importance of competition • Real world the most competitive environment • 1. Problem Solving Skills • 2. Independent Thinker • 3. Creative Thinker • 4. Competitive

  9. Today’s Discussion • Personal History • Key Characteristics That Enabled Success • Learned Characteristics In High School • How To Stimulate Entrepreneurship • How The New Economy Supports Entreprenuers

  10. How To Stimulate Entrepreneurship • What do you want to be when you grow up? • Teacher, Firefighter vs. Innovator, Business Owner • Action Items to Stimulate Entrepreneurship • Help students understand the application of the subject matter in the real world • Teach students how to set goals and be accountable • Provide students with real world examples of successful entrepreneurs or successful individuals in your respective fields of study • Provide students with a role model to influence them • Show students there is more than Western NY – we are ONLY 6 hours from NYC • Encourage hope • Reward independent thought • Instill the importance of creativity, innovation and most importantly execution Students can acquire whatever entrepreneurial traits they lack and YOU alone can help them…

  11. How To Stimulate Entrepreneurship: The Importance of Goal Setting • Goal Setting Guidelines • Goals Must Be… • Conceivable. Students must be able to imagine, conceptualize and understand the goal or desired result. • Believable. Students must believe they can reach the goal. It is critically important that they believe in themselves. They must see themselves with the goal in hand. • Achievable. Students must have the mental and physical capacity to reach the goal. • Measurable. Deciding to do better than last year or to be happy gives no standard by which students can measure progress. Be sure they relate goals to quantity, percentage increases, dollar volume, time or distance. • Controllable. This means students must be able to achieve the goal themselves, or gain the willing cooperation of others to reach the goal. Goals generate enthusiasm, give meaning and purpose, and provide direction

  12. Today’s Discussion • Personal History • Key Characteristics That Enabled Success • Learned Characteristics In High School • How To Stimulate Entrepreneurship • How The New Economy Supports Entreprenuers

  13. How The New Economy Supports Entreprenuers • What are the attributes of this new economy? • Boundaries of all kinds collapse—between companies suppliers, customers and competitors. • New markets expand with greater competition, increased choice and lower prices. The time it takes to fill a need or satisfy a desire collapses. • Info-mediaries who provide information about products and who locate the best choice or price replace intermediaries, the traditional middlemen. • Intellectual assets—information, objects, images, movies, stories—take on ever increasing value in digital form. • Consumer expectations rise and their tolerance for poor service and quality lessens. Virtual loyalty—driven by greater choice of vendors and the ease of switching among them—makes brand loyalty more difficult. • People become the most valuable business assets. With changing markets and new technologies, visionary leaders become paramount.

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