ism ivc detroit global entrepreneurship training session handout book

1 Copyright 2014. All rights reserved. www.myISMinc.com

Faris Alami فَارِس ألعَلَمِي

Global Entrepreneurship Саламатсызбы!

Agenda

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•  Entrepreneurial landscape •  Entrepreneurial support system •  Economic Development •  Advocacy •  Q & A

Who Is Here?


4 www.myISMinc.com

Worked With Over 100 Organizations

5

Question?


6

Test 1!


What is Entrepreneurship?

7

Entrepreneur


Kauffman Foundation

Characteristics

8 All Copy rights are reserved.

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Entrepreneur Need to Achieve

High Energy Level

Tolerance for Failure

CreaJvity Tolerance for Ambiguity

Internal Locus of Control

Vision

Self-‐Confidence

and OpJmism

1.  Background information 2.  Problem/opportunity 3.  Innovative solution 4.  Product/service/technology 5.  Market size/share 6.  Entry to market 7.  Management team 8.  Financials (leverage) 9.  Business model 10.  Milestone/use of funds 11.  Recap/close 12. Pitch/commercial

9

Planning Your Business


10

The Plan


11

Background Information


12

Problem or Opportunity


13

Innovative Solution


14

Market Size


•  Where do you start •  The pathway

15

Entry to Market


•  Talented people •  Trusted advisors •  Contractors

16

Management Team


•  Realistic assumptions •  Leveraging the money?

17

Financials (leverage)


•  How to make money? •  Next client/engagement

18

Business Model


19

Milestone/Use of Funds


•  Bring it together •  Ask/offer •  Start doing

20

Recap/Close


21

Pitch/Commercial


22

Pitch/Commercial


•  Keep it simple •  Story telling style

23

Do…


•  Use big words/jargon •  Rush or push

24

Do Not…


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Final Thoughts

26

Business Model Canvas


Steve Blank

GlobalTradeMission.org®


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GlobalTradeMission.org

FastTrac® NewVenturetm


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Kauffman Foundation

The Ice House


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Kauffman Foundation

31

Growth Wheel Model


Business Concept


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v WHAT does the product/service do? v HOW is it different? v WHO will buy it? v WHY will they buy it? v WHERE will it be sold/offered? v WHEN will it be ready to be sold/offered? v HOW will it be promoted and sold/offered?

33

Entrepreneur Language


v Business Model v Market segment, entry to market v Business Concept v  4 P’s and PEST v Bottom line/Breakeven point v  Start up cost v  Fixed and Flex expense v  SWOT v Business Plan v  Exit

34

Costs Behind Scenes


$880

$10

35

E-Myth Revisited


•  Entrepreneur •  Manager •  Technician

E-Myth Revisited

36

How does it work?


E-Myth Revisited

37

Balancing Role


•  Opportunities •  Engagement •  Plan

E-Myth Revisited

• Norm is not the same

38

My View!


39

Frame Work


v Where do you want to end?

v What resources do you have?

v Or Need to get you there!

v Where are we going to start from?

40

Supportive Community


•  Policy environment •  History •  Culture and institutional memory •  Attitudes about failure •  Collaborative support organizations •  Celebrate entrepreneurs •  An information environment

41

Community


SEMCOG

42

Ecosystem Ideas


Ecosystem

Incubators

University

Tech-‐Transfer

Talent

ExisJng Business

Networking

Loan Funds/ Angel

Investors

Venture Capital

43

Ecosystem Ideas


44

Networking!


45

Supporting!


Coaching

Mentoring Consulting

46

Entrepreneur Coaching Is NOT


47

What Does A Coach Do?


48

Funding Example


Friends and family

Crowed Funding

Micro Finance

NSF/SBIR Angel

VC

State Match

49

Economic Development


Programs Overview

Networking Workshops Talent, Jobs & Interns

Access to Capital Coaching

Incubation and Acceleration

Programs Overview Michigan Sample •  Business Plan CompeJJon

–  ACE-‐Event –  Accelerate Michigan

•  Training: –  Business Model Canvas –  FastTrac –  JumpStart OperaJon –  Ice House

•  Student Accelerator –  TechArb –  LaunchPad

Understand Timing

How long does it take?


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53

Global Entrepreneurship Model


54

Entrepreneurship Policy


Kauffman Foundation

55

Entrepreneurship in the U.S


Kauffman Foundation

56

Entrepreneurship Race


Kauffman Foundation

57

Entrepreneurship Race


Kauffman Foundation

58

Entrepreneurship Age


Kauffman Foundation

59

Advocacy


•  Chamber of Commerce •  Committees •  Associations •  Small Business Association of Michigan

Important!


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Final Thoughts!

61 All copy rights are reserved. www.myISMinc.com

62 All copy rights are reserved. www.myISMinc.com

Questions and Comments

“In-shaa Allah we’ll see you again.” (In God’s will we will see each other again.)

Thank you!

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Thank You!

شكرا لكم ونراكم قريبا إن شاء اهلل

Contact Information

Faris Alami O: 888-853-0122 Ext 2

C: 248-688-5353 [email protected]


Thank You!

•  GlobalTradeMission.org - Global Trade Mission

•  Jumpstartmystartup.org – www.myISMinc.com •  New Venture FastTrac-Kaufman Foundations

•  First Step-Operation Jump Start

•  Business Model Canvas-Steve Blank

•  Growth Wheel

•  Ice House!

Thank you!


Material Credit

ism ivc detroit global entrepreneurship training session handout book

Leadership & Management

plan allcopyrightsarereserved

market v business concept

cost v

pest v

market sizeshare

entrepreneur coaching

entrepreneur needto

kauffman foundation