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The Entrepreneurial Journey

The document discusses the entrepreneurial journey, which involves exploring entrepreneurship to determine if it is a good fit. It notes there may be obstacles to overcome. The document outlines several myths about entrepreneurship and different paths one can take, such as starting a home-based business, serial entrepreneurship, or working as a corporate entrepreneur. It discusses both the challenges of entrepreneurship, such as risk and uncertainty, and the opportunities it provides, like independence and making an impact. Finally, it provides tips for preparing to become an entrepreneur, such as getting mentors, building skills, and understanding one's personality and preferences as they relate to business.

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AIKO LYN V. MANGA
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340 views3 pages

The Entrepreneurial Journey

The document discusses the entrepreneurial journey, which involves exploring entrepreneurship to determine if it is a good fit. It notes there may be obstacles to overcome. The document outlines several myths about entrepreneurship and different paths one can take, such as starting a home-based business, serial entrepreneurship, or working as a corporate entrepreneur. It discusses both the challenges of entrepreneurship, such as risk and uncertainty, and the opportunities it provides, like independence and making an impact. Finally, it provides tips for preparing to become an entrepreneur, such as getting mentors, building skills, and understanding one's personality and preferences as they relate to business.

Uploaded by

AIKO LYN V. MANGA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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What is entrepreneurial journey?

 The entrepreneurial journey is your exploration to discover if entrepreneurship is right for you.
 As opportunities to learn more about the entrepreneurial process—and about yourself and how you
manage challenges.
 The entrepreneurial journey might also include potential obstacles and barriers that travelers on
this path must overcome.

Learning Objectives
 DISPEL MYTHS ABOUT ENTREPRENEURS.
 UNDERSTAND THE MANY PATHWAYS TO ENTREPRENEURSHIP.
 PREPARE TO BECOME AN ENTREPRENEUR.
 MAKE ENTREPRENEURSHIP A WAY OF LIFE.

SEVEN MYTHS
1. Entrepreneurs start businesses solely to make money.
2. It takes a lot of money to start a business
3. It takes a great idea
4. The bigger the risk, the bigger the reward
5. A business plan is required for business
6. Entrepreneurship is for the young and reckless
7. Entrepreneurship cannot be taught
PATHS TO ENTREPRENEURSHIP
 The home-based entrepreneur
 The serial or portfolio entrepreneur
 The nonprofit entrepreneur
 The corporate entrepreneur
The corporate Entrepreneur
 Entrepreneurial mindset in large corporation:
 Senior management commitment
 A champion or several champions
 A superior team
 Corporate interoperability
 Clearly defined stages and metrics
Challenge and Opportunities with the Entrepreneur Career Path

CHALLENGE
 Finding the right business opportunity.
 Facing uncertainty and high risk
 Having no previous experience on which to rely.
 Facing failure of some point.
 Finding the right people to help grow the business.
 Needing to work, often without pay, for long hours.
OPPORTUNITIES
 Creating new jobs
 Becoming independent – taking charge of career
 Making a difference
 Doing well while doing good – the potential for Social entrepreneurships
 Doing something the entrepreneur is passionate about supporting the community

PREPARING FOR AN ENTREPRENEURSHIP


 Find a mentor
 Build a professional network
 Learn about entrepreneurs
 Understand personality and Business preferences
 Improve on or acquire new critical skills
 Study an Industry

Understand Personality and Business Preferences


Barriers to self- employment:
 Lack of confidence
 Financials needs
 Startup logistics
 Personal or family issues
 Time constraints
 Lack of skills
CRITICAL ENTREPRENEURIALS SKILLS
 Analysis and critical thinking
 Opportunity recognition
 Resources gathering
 Calculated risk taking
 Time management
 Decision making
 Leadership and people management
 Written and oral communication

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