ARBUS 200 – Entrepreneurship For Posting
Creativity - idea an individual imagines or the potential
solution to a problem
Innovation - when a creative idea becomes tangible.
Translating an idea into reality is the process of innovating
Entrepreneurship - bringing innovations to markets for a
variety of different reasons including financial award
o Extrinsic goals like money are not good motivators
Creativity happens in three stages:
Qualities of an Entrepreneur
Ability to work with others
Organized to achieve your goals and have to know if you are
Listen and be listened
Project Management Orientation
4 main qualities of an Entrepreneur
o Curiosity - profound insights
Entrepreneurs aspire to greatness in terms of having impact
Empire Building entrepreneurs set their sights beyond borders
High Creativity and innovation (Inventor) High General Management skills, business know-how and
Attitudes and Values
Challenging conventional wisdom
o Success is the good fortune that comes from aspiration,
desperation, perspiration and inspiration - Esar
regular act encouraged within an organization.
We may make mistakes that we live from
Decision making - intuition is powerful when we allow it to
Management and organizational skills - allow people through
allocate efficiency to do what they do.
Venture education - forecast outcomes
The Entrepreneurial Process (check Powerpoint)
Innovation to Triggering event to Implementation to Growth
o Triggering - daring leap to become the entrepreneur
Entrepreneurs are born, not made
Anyone can start a business
Entrepreneurs are gamblers - when you don’t have enough
money, you have to be daring and adventurous.
Entrepreneurs want the whole show to themselves Entrepreneurs are motivated solely by the quest for the
If an entrepreneur has enough start-up capital, he/she can’t
Paradoxes of Entrepreneurship
Those who believe the idea has no merit or market potential
are wrong - an opportunity with no on very low potential can
be an enormously big opportunity
o Xerox did not first see a market for a personal computer
but Steve Jobs saw a lot of potential and it is now big.
In order to make money you have to first lose money.