In our wonderful yet challenging journey in StartUp ecosystem, we have met some amazing entrepreneurs and visionary speakers. So here we are sharing some our experience through short talk on Motivators and Barriers to Entrepreneurship by Vivek Kumar, CEO, Venture Garage.

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A short talk on motivators and barriers to
Entrepreneurship

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Theories of Entrepreneurship
Round pegs in square holes
https://www.youtube.com/watch?v=8rwsuXHA7RA

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Theories of Entrepreneurship
Economic Theories: Limited supply and is driven by need to change. Takes RISKS as he/she acts in
anticipation of the future. New product, New market, New production, Filling gap... Entrepreneur transforms
resources into value added goods and services
Psychological Theory: Emotional elements driving entrepreneurship. Need for achievement, affiliation,
power... “Creating something out of nothing”... “get rich” vs. “get big”. Behaviour of grabbing opportunities.
Sociological / Cultural Theories: Personal resourcefulness. Initiative vs. Reaction. Social networks,
desire for a meaningful life, ethnic identification, role expectations by society

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Types of Entrepreneurs
Type of business: Business, Social, Trading, Industrial, Corporate, Agricultural
Use of technology: Tech vs. Non-tech
By Motivation: Induced vs. Motivated vs. Spontaneous
By growth: Growth vs. Super-growth (hockey stick curve)
Stage of Development: Modern vs. Classical. First generation.
Gender, Scale, Rural
Some other interesting Classifications:
Behavioural : Solo , Co-founders/partners, Inventors, Challengers, Buyers and life-timers

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Types of Entrepreneurs
Three types Arthur Cole:
Empirical: Not revolutionary. Largely follows
Rational: Well informed about the general economic conditions, introduces somewhat revolutionary
changes
Cognitive: Well informed, draws from experts. Introduces changes that reflect complete break from the
existing

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Based on Clarence Danhof Classification:
4 types
Innovating: New goods, new markets.... Found in more developed economies
Imitative: Follow innovations. Found more in under-developed economies
Fabian : Exercise great caution in experimenting and are late imitators
Drone: Almost a refusal to adopt change or innovation

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Intrapreneurs
Entrepreneurs within an organisation: Entrepreneurial skills without the risks associated with it
Employee of a large corporation who is given freedom and financial support to create new products, services,
systems, etc., and does not have to follow the corporation's usual routines or protocols.
• Money is not the measurement
• Green-housers
• Not afraid to experiment, Pivot

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Ultrapreneurs
Someone who has many profit-generating pursuits at once.
Book: Entrepreneur to Ultrapreneur 100 Ways to up Your Game
• A holistic approach encompassing all aspects of one’s life including entrepreneurship, health and well being,
family, spirituality, morality and mentality... Complete balance
• Someone who has exceeded in their undertaking as an entrepreneur but also has a profound effect on their
family, community, country or humanity.
Mentor Nigel Clayton: An Ultrapreneur thus
• Loves going to their business every day
• Is authentic
• Engages in passionate creation
• Earns the money they need to live the lifestyle they want
• Has ample time to spend with the people they love

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Functions of Entrepreneurs
Delia Smith of Greenfield Ventures says, “If innovation is the creation of new capacities for wealth creation,
entrepreneurship is the exploitation of these capacities.”
• Risk taking
• Innovation
• Organises
• Takes to market
... Leading to often financial, sometimes social success
A person who organizes and operates a business or businesses, taking on financial risk to do so.

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15 Signs that you are an entrepreneur
https://www.youtube.com/watch?v=sOjeQV5pHh4

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Life on an Entrepreneur
https://www.youtube.com/watch?v=h-KHWUq3B7I
Entrepreneur Competencies
My take

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Entrepreneur Competencies
I think a start-up entrepreneur needs to be like James Bond...
at the core, a start-up and the venture rises or falls depending on
the “hustling capabilities” of the entrepreneur

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Entrepreneur Competencies
Dysfunctionally focused at the task on hand: To JB the MISSION IS IT, and he is willing to take on everything
and everyone in his path.
Enjoys the journey: Even though JB is extremely focussed on the mission he enjoys the journey and has fun,
remember the good looking women, the yachts, the happening locales.
Happy to receive: JB is happy to receive everything in his path some good, some bad AND SOME UGLY.
"Everybody has a plan, until they get punched in the face.“
Ability to articulate and communicate a vision: Has this amazing ability to communicate a vision for the
mission and thus is able to create sometimes unwilling, but always highly committed co-passengers on the
journey.
Moving from concept to product: Of course all of this requires lots of implementing, execution and hard work.
“To persevere you need motivation - and it can only come from your passion for your business.”

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Find your greatness
https://www.youtube.com/watch?v=WYP9AGtLvRg
“You are on the planet too. Why should JB have all
the action, fun, money, and resort hotel living.”
Go kill it!!

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Barriers & Motivators to
Entrepreneurship
Zero barriers
https://www.youtube.com/watch?v=FJzqd2vsQWQ

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Barriers to Entrepreneurship
• Unsupportive business environment
• Finding employees, partners
• Lack of money
• Lack of entrepreneurial capability & market experience
• Lack of training, technical skills etc.
• Fear of failure
• Risk aversion, low motivation
• EGO

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Motivation
Determination vs. Imagination ?

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Motivators
• Sense of Accomplishment “Making it big”. Recognition
• Self Control over decision-making, No Boss, Independence. Self reliance. Freedom
to do.
• Energy of Passion
• Self growth, self experimentation
• Money
1. Ambitious factors.
2. Compelling factors
3. Facilitating factors.

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Motivation
Feeding Motivation
What makes an entrepreneur different
https://www.youtube.com/watch?v=-rcSa37McrM

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Getting your head right

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“Inversion”, and thinking in extremes
• Marie Kondo, author’s famous line “We should be choosing what we want to keep, not what
we want to get rid of”
• Inversion: What if the opposite was true? What if you focused on a different side of the
situation?
• often Instead of asking how to do something, asking how to not do it could provide easier
and quicker solutions. As author Josh Kaufman says “By studying the opposite of what you
want, you can identify important elements that aren't immediately obvious.”
• Paralled with “inversion”, thinking in extremes helps tremendously. Have you ever tried to
imagine total, devastating failure. Asking yourself the question “what if everything I have built
comes crashing down” could tell you a lot of what to prepare for today.
• A strategy sometimes referred to as “kill the company”, talks about imagining that you fast
forward a year and see your business failing. The questions to ask are “what went wrong”,
“what mistakes did we make”.

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“Inversion”, and thinking in extremes
Earlier: How do I succeed?
Now: How do I avoid failure?
Earlier: How to make the relationship with my co-founder rocking?
Now: How do I not to offend my co-founder?
How do I convince the investor?
How do I make the investor say no to me?
How do I stay focussed?
How do I end up distracted?
How do I get new/more customers?
What would put-off our customers?
Choosing what we want to get rid off?
Choosing what we want to keep?
How do I make more money?
How do I destroy my financial health?

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Get... Set.. GO
https://www.youtube.com/watch?v=i2oSYTSMgrk
How To Pick The Right Idea For Your Startup

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1. It all starts with a value proposition
It all starts with a value proposition. In fact most times I see the value proposition itself not clear
and this is really akin to building your house upon sand, one is likely to always be on shaky
ground.
The Value proposition can be around two major areas, how does the proposition help avoid pain
or increase pleasure.
In my experience avoiding pain is a bigger motivator than seeking pleasure.

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2. Identifying your Target customers
The next step is to identify which segment of customers will this value proposition appeal to and
what is the likely size of that target.
It is important to ensure a large enough size to make the business viable.
Early vs. Late customers

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3. Identify channels or collaborators
Once you have intertwined the value proposition and the target customers the final step is to
identify channels or collaborators who can put our product in the hands of the customers.
Choose channels basis cost of acquisition, how much revenue is generated per acquisition, and
scalability of the channel.

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Evaluation Checklist. Decision Making
1. Problem-Solution Match
2. Market Size & Growth
3. Business Stage
4. Gross Margins
5. Cost of Customer Acquisition
6. Potential revenue from each customer
7. Sustainable Competitive Advantages
8. Intellectual Property
9. Founder Team / CEO
10. Milestone Achievability
11. ROI Potential

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To close My learning's

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1. Staying focused on the purpose: It is hypercritical that amongst all the distractions a start-up will face, the spirit of the
purpose needs to be aggressively guarded by the founder. Every time a founder feels rejection, hopelessness, or questions himself... or any
such emotions come forth, going back to why one started is a great way to get back into the groove.
2. Team members and loyalists deserting midway: Often people you started off with, who swore to live and die
with you along the way will come and say that they feel that “God has spoken to them and they feel this is not for them”. However, though
there is a lot of talk about teams, I feel that entrepreneurship begins with the dream of one person, and rises and falls on the attitude of
that person. Rabindranath Tagore is hugely relevant here when he famously crooned “If no one answers to your call, then move forward
alone.”
3. If you mean serious business expect the competition to come at you hammer and
tongs:. Though slightly long, this quote reiterates what the entrepreneur may need to tell himself/herself multiple times a day, the
problem is with them not with him/her. “They will hate you if you are beautiful. They will hate you if you are successful. They will hate you
if you are right. They will hate you if you are popular. They will hate you when you get attention. They will hate you when people in their life
like you. They will hate you if you worship a different version of their God. They will hate you if you are spiritual. They will hate you if you
have courage. They will hate you if you have an opinion. They will hate you when people support you. They will hate you when they see you
happy. … They just hate.
However, remember this: They hate you because you represent something they feel they don’t have. It really isn’t about you. It is about
the hatred they have for themselves. So smile today because there is something you are doing right that has a lot of people thinking
about you.”
4. There are no cheap shortcuts to change: If disruption is the motive there are no short-cuts as the vast majority
wants to maintain status-quo.
“Better to do something imperfectly than to do nothing perfectly.” and somewhere along the way we will get close to perfection.
Sometimes as an entrepreneur, we have to swallow so much pride that it is surprising we don’t become obese. This is the toughest one, as
a founder is always in a tearing hurry, because he can see what can be, but often destiny has other plans. This is a personal battle every
entrepreneur needs to win because change will happen, but how much time it will take... well GOD knows!!
Let them make fun, criticize, ridicule, but remember they can never be you.
My learning's

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Vivek Kumar
Vivek@venturegarage.in