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    Entrepreneurship Notes

    Uploaded by

    Farah Abushady
    Business Entrepre

    Copyright:

    © All Rights Reserved
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    Entrepreneurship Notes

    Uploaded by

    Farah Abushady
    1 views6 pages
    Business Entrepre

    Copyright

    © © All Rights Reserved

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    DOCX, PDF, TXT or read online from Scribd

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    Business Entrepre

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    1 views6 pages

    Entrepreneurship Notes

    Uploaded by

    Farah Abushady
    Business Entrepre

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Entrepreneurship Notes

    1. Theory:
    a. is an agreed causation state set/developed by knowledgeable people
    (foundation, building block)
    b. There are conflicting theories
    1. The theory of creative destruction (Schumpeter’s gale theory)
    a. To achieve success
    i. Disequilibrium
    ii. Disruptions
    iii. Innovations
    iv. Then, growth
    2. David and Golilath A shepherd boy killed a giant warrior with a stone and a sling.
    3. Commercial Innovation is crucial

    Timmons’s Model

    Founder Must Have:


    a. Resources
    b. Opportunity
    c. Team

    1. - The entrepreneur starts with a problem to solve, and the opportunity this
    problem gives.
    2. - The team has to be creative with how they seize the opportunity.
    3. - Communication is key to finding out how to fit the limited resources available in
    the gap this opportunity provides.
    4. - Leadership is required to sufficiently manage the use and distribution of these
    resources amongst the team.
    5. The founder is the basis or foundation on which this is built.
    6. Startups vs Big business
    a. Startup: is a temporary organization, in search of a business model, still
    searching and exploring.
    b. Big Business : Has an established business model that is already being
    exploited

    Assignment 1:
    Shark Tank EG
    Scrub Daddy: Aaron Kaus
    Problem: scrubbers that need a lot of soap that do not clean
    right away
    1. Scrubber with a smiley face
    2. Cleans everything on any surface scratch free
    3. No Soap Needed
    4. Sold $100K in 4 months
    5. Valuation $100K for 10%
    6. To be independent manufacturer with automated equipment,
    so he can keep up with the forecasted demand.
    7. Needs a partner to get him in all retail store
    8. 18 years plant manager
    9. Costs $1 sells $2.8 whole sale
    10. He had 3000 store waiting
    Lori 20% to 200k

    10 years Later

    1- 273k employee
    2- 160 product
    3- sold in 257K location
    4- one of the top 5 grossing companies on shark tank
    5- 670 million dollars in retail
    6- made a deal with Unilever

    Door Bot: Jamie Siminoff

    2013 Valuation: 700k 10%


    1. Door bot connected to the wifi
    2. Has a mobile application
    3. You can reject the call
    4. Accept the call and talk to them
    5. The judges rejected him flatly, except Kevin O’Leary. He
    offered Siminoff a $700,000 loan in return for 10% of product sales
    until the loan was paid off, plus 7% of all sales in the future and 5%
    equity. Siminoff declined and left the show without an investor.

    1. 2018 Amazon bought the comany for $1 billion

    Masroofy: Shark Tank EG


    16million for 10%

    1. Fin Tech Company


    2. Masroofi identified a market gap by targeting the segment of
    20 million children between the ages of 5 and 15. This demographic
    has substantial needs and expenses, making it an attractive market
    opportunity.
    3. Debit card for children
    4. Parents can send money to their’s children’s account
    5. When there children spend something a notification is sent
    with when and how much they bought
    6. Targeted audience: parents
    7. Contributed with Ahly bank
    8. Approved by the CBE
    They take 1.2 percentage of the money loaded for the children
    Effectuation Theory

     Bird in hand
     Affordable loss
     Crazy Quilt/Co-creation
     Lemonade principles
    o Surprises is the default
     Pilot in the plane
    o No perfect way to build a company

    Saras Sarasvathy looks at the world through entrepreneurial glasses:


    Key Takeaways:
    1. Creative Destruction
    2. Co Creation
    3. Trial and errors
    4. Role of Human Actors
    5. Be scrappy and unkillable (Cockroach)
    6. Paradox: To accomplish something big, focus on something small. Do the doable
    and push.
    a. Utilize the resources that they have
    7. Worm’s-eye view
    8. Constant zooming & re-zooming.
    9. Chaos & the butterfly effect.
    10. If you don’t ask, the answer is always no.
    11. Gramene Bank case
    12. TO be action oriented
    a. Do the doable
    b. Then Push it, develop it
    c. Keep Improving

    Stop thinking
    d. What does it mean to be entrepreneurial?
    e. Do things without a lot of investment
    f. Think different? What differentiates me from other sciences, sociological
    g. Believe in humans
    h. If u do something that may fail, but it still counts as something
    i. Trying and failed is better than trying in the first place
    j. Example:
    k. Mohamed Yunis
    l. Economist
    m. Created something called micro-financing
    n. Micro financing Bangladish people to solve a problem
    Focus on problems, try to solve it
    Do Not Think Big, See little problem, focus on it, and work on it
    Assignment 2:
    Nas Trends
    1. 2009
    2. 5 Partners
    3. 50,000 Capital
    4. Tamkeen Investment
    5. 2013 break even
    6. 2016 expanded to Saudi Arabia
    7. The business idea started with who they are. They wanted to design things relevant
    to them
    8. Utilized the designs they had to start their business
    9. They integrated the consumer designs into their business
    10. Utilized the people they know
    11. As a team they divided the responsibilities based on what each one of them does
    best
    12. Reached out to people who connect with the segment artists
    13. They focused on their speciality (designing); they didn’t go into production they
    outsourced the production.
    14. They focused on designs and quality
    15. They faced problems
    a. cost changes
    b. Quality inconsistency
    c. Human errors (lack of automization)
    d. Booth changes
    e. Quality control
    f. Lack of relevant designers
    16. Investment
    a. Tamkeen 2011 ($50,000)
    b. Discounted/discarded cash flow
    c. When to invest matters
    17. New Partner: Omar the CEO
    18. Team:
    a. Founders
    b. Investors
    c. Saudi Partner

    Airbnb
    1. Be a cereal entrepreneur
    2. 3 Partners
    a. Nathan
    b. Joe
    c. Brian
    3. The start-up came from a need
    a. High rent
    b. Lack of money
    4. A place to stay if u have an event
    5. Learning from their mistakes
    6. New model from needs; places not only for events
    7. Utilized the opportunity, events, news paper
    8. Creativity (cereal with Obama and another politician)
    9. Financed their company from cereal money
    10. Went to y combinator, an accelerator
    11. Scrappy and resourceful
    12. Built a relationship with their hosts
    13. They created serial entrepreneurs
    a. To meet people
    b. Clients
    c. Opinions on their work
    d. Raise money
    Catch 22:
    1. Vicious loop
    2. Gett out by using the crazy quilt
    a. Co-creation
    b. Partnering
    3. Story telling
    4. Lean experimentation
    5. Staged Investing

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