Expert Entrepreneurship Principles for Success

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Expert entrepreneurship principles for success involve starting with available resources, limiting risks through affordable loss strategies, building strategic partnerships, and leveraging contingencies. These principles guide entrepreneurs in navigating uncertainty and creating opportunities for growth and innovation.

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Presentation Transcript

I saw 200 students in the last 5 years trying to be entrepreneurial, start a business or solve a complex problem. Immo Dijkma, Hanzehogeschool Entrepreneurship / creativity / Incubator Cube 050

Draw your relation with entrepreneurship 29-9-2024 Toetsing en rendement 2 2Instituut voor Marketing & Management

Visual presentation of your project 29-9-2024 Toetsing en rendement 3 3Instituut voor Marketing & Management

Saras Sarasvathy: what makes entrepreneurs entrepreneurial? effectuation http://www.blueport-lauwersoog.nl/pictures/root/logos/deelnemers/kennisinstellingen_overig/Hanzehogeschool_Groningen.jpg

Bird-in-Hand (Means) Principle When expert entrepreneurs set out to build a new venture, they start with their means: who I am, what I know, and whom I know. Then, the entrepreneurs imagine possibilities that originate from their means. http://www.blueport-lauwersoog.nl/pictures/root/logos/deelnemers/kennisinstellingen_overig/Hanzehogeschool_Groningen.jpg

Affordable Loss Principle Expert entrepreneurs limit risk by understanding what they can afford to lose at each step, instead of seeking large all-or- nothing opportunities. They choose goals and actions where there is upside even if the downside ends up happening. http://www.blueport-lauwersoog.nl/pictures/root/logos/deelnemers/kennisinstellingen_overig/Hanzehogeschool_Groningen.jpg

Crazy Quilt (Partnerships) Principle Expert entrepreneurs build partnerships with self-selecting stakeholders. By obtaining pre-commitments from these key partners early on in the venture, experts reduce uncertainty and co-create the new market with its interested participants. http://www.blueport-lauwersoog.nl/pictures/root/logos/deelnemers/kennisinstellingen_overig/Hanzehogeschool_Groningen.jpg

Lemonade (Leverage Contingencies) Principle Expert entrepreneurs invite the surprise factor. Instead of making what-if scenarios to deal with worst-case scenarios, experts interpret bad news and surprises as potential clues to create new markets. http://www.blueport-lauwersoog.nl/pictures/root/logos/deelnemers/kennisinstellingen_overig/Hanzehogeschool_Groningen.jpg