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Rebuilding After Lockdown

£40.00

Lockdown changed everything. For many of us, our goals for the year are been derailed and economic realities mean 2020 is now about survival. This is true for many people, however, some are also seizing the opportunity. Some are thinking about building. In many ways, there has never been a better time to build from scratch.

What is entrepreneurship? You probably think that the answer is obvious and that only an academic would bother to ask this question. As a researcher, I suppose I am guilty of mincing words. But like the terms “strategy” and “business model,” the word “entrepreneurship” is elastic. For some, it refers to venture capital-backed startups and their kin; for others, to any small business. For some, “corporate entrepreneurship” is a rallying cry; for others, an oxymoron.

At the most simple level, this provides a basis for our discourse into entrepreneurship and will be a good framework. It is also imperative that we consider the practicalities of Entrepreneurship. These include but are not limited to, raising funds, building a team, managing a team, learning new skills, registering, collaborating and doing what it takes to succeed.

In this masterclass we will,

  • Learn – the fundamentals of embarking upon a business venture, company finance, investors, banks and crowdfunding.
  • Learn – about communication & marketing, your website, social media and dealing with the press.
  • Learn – how to develop team management techniques.

Online Session: Zoom – Details Upon Ticket Purchase

SKU: 20-2-1-1 Category:

Description

Lockdown changed everything. For many of us, our goals for the year are been derailed and economic realities mean 2020 is now about survival. This is true for many people, however, some are also seizing the opportunity. Some are thinking about building. In many ways, there has never been a better time to build from scratch.
What is entrepreneurship? You probably think that the answer is obvious and that only an academic would bother to ask this question. As a researcher, I suppose I am guilty of mincing words. But like the terms “strategy” and “business model,” the word “entrepreneurship” is elastic. For some, it refers to venture capital-backed startups and their kin; for others, to any small business. For some, “corporate entrepreneurship” is a rallying cry; for others, an oxymoron.
Let us consider a definition used at Harvard Business School. It was formulated by Professor Howard Stevenson, the godfather of entrepreneurship studies at HBS. According to Stevenson, entrepreneurship is the pursuit of opportunity beyond resources controlled.
“Pursuit” implies a singular, relentless focus. Entrepreneurs often perceive a short window of opportunity. They need to show tangible progress to attract resources, and the mere passage of time consumes limited cash balances. Consequently, entrepreneurs have a sense of urgency that is seldom seen in established companies, where any opportunity is part of a portfolio and resources are more readily available. This can sometimes be innate, however, somethings this can be cultivated over time.
“Opportunity” implies an offering that is novel in one or more of four ways. The opportunity may entail: 1) pioneering a truly innovative product; 2) devising a new business model; 3) creating a better or cheaper version of an existing product; or 4) targeting an existing product to new sets of customers.
These opportunity types are not mutually exclusive. For example, a new venture might employ a new business model for an innovative product. Likewise, the list above is not the collectively exhaustive set of opportunities available to organizations. Many profit improvement opportunities are not novel–and thus are not entrepreneurial–for example, raising a product’s price or, once a firm has a scalable sales strategy, hiring more reps.
“Beyond resources controlled” implies resource constraints. At a new venture’s outset, its founders control only their own human, social, and financial capital. Many entrepreneurs bootstrap: they keep expenditures to a bare minimum while investing only their own time and, as necessary, their personal funds. In some cases, this is adequate to bring a new venture to the point where it becomes self-sustaining from internally generated cash flow. With most high-potential ventures, however, founders must mobilize more resources than they control personally: the venture eventually will require production facilities, distribution channels, working capital, and so forth.
At the most simple level, this provides a basis for our discourse into entrepreneurship and will be a good framework. It is also imperative that we consider the practicalities of Entrepreneurship. These include but are not limited to, raising funds, building a team, managing a team, learning new skills, registering, collaborating and doing what it takes to succeed.
Invest in yourself and do not delay on your personal development.

If you encountering any problems with using this page or have any questions about the Self Autoring Masterclass then send an email over to hello@mikeomoniyi.com

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