Presentation made in November, 2014 at KFUPM in Saudi Arabia to the students on the Journey of Successful Entrepreneurship.

1. THE JOURNEY TO
Michael Burcham
President & CEO
The Nashville Entrepreneur Center
m@ec.co
Professor of Entrepreneurship
Owen Graduate School of Management, Vanderbilt University
michael.burcham@owen.vanderbilt.edu
SUCCESSFUL ENTREPRENEURSHIP

2. Why You?
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22

3. THE CAREER
ESCALATOR
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22
We finish college, get on the corporate escalator, gain
experience, whisked up the organizational hierarchy, clearing
room for ambitious young graduates to follow. We move
steadily up the escalator till time to step off and retire,
making room for the next level of folks to take our place.!

4. CULTIVATING AN
ENTREPRENEURIAL MINDSET
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Whether you work for a 10-person company, a giant
multinational corporation, a not-for-profit, government agency
or any type of organization in between !
to seize the new opportunities and !
meet the challenges of today’s market !
we need to think and act like we’re running a startup.!
!
!
!

5. WHY DO WE NEED AN
ENTREPRENEURIAL MINDSET?
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!
• We are all making decisions with limited information !
• In a time-compressed and resource constrained environment !
• There are no guarantees or safety nets!
• We take on a certain amount of risk!
• Competition is changing !
• The Market is changing!
• Product and Service lifecycles are shorter and shorter!
!
!

6. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
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"Develop your own
competitive advantage by
combining 3 puzzle pieces:!
!
Your
Assets
Your
Aspirations
The
Market
Realities
1.

7. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
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"Plan to Adapt. Use the ABZ
method so that you can
adapt based on feedback
and lessons learned.!
2.

8. THE BUSINESS JOURNEY
THERE’S NO STRAIGHT LINE FROM “A” TO “B”
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9. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
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"Build real, lasting relationships and deploy these into a
powerful professional network built on trust.!
3.

10. BUILD & MANAGE
YOUR PROFESSIONAL NETWORK
A Successful Leader has to have a broader horizon that goes
outside the business. And the only way you are going to get
that broader perspective is to make sure that you are out there
in your networks.
In those networks you pick up information and bring it
back into the business.
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11. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
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"Develop a method to evaluate options and ideas to
determine the best new products and services for your
client or the organization.!
4.

12. F
Frame the
Opportunity or
Issue
O
Organize the
Information you
Have
C
Clarify What You Know and Do Not Know
U
Understand Your Options.
Develop a “Plan A” and a “Plan B”
Validation of Options:
• ROI (Return on Investment)
• Value
• Projected Growth in Revenue, Margin, Customer Volume
S
Select Your Best Option.
Execute it Well.
Does your solution Address the Client’s or
Organization’s “Pain”?
Does it match the Company’s Strategic Objective (s)?
Is it a realistic?
Is it affordable?
Is it an executable solution?
PDCA
Instructio nal
Cycle
PLA N
A C T
DO
CHECK
• Data
Disaggregation
• Calendar
Development
• Direct
Instructional
Focus
• Tutorials
• Enrichment
• Assessment
• Maintenance
• Monitoring
FOCUS MODEL
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13. THE TOOL KIT TO DEVELOP AN
ENTREPRENEURIAL MINDSET
"Build your skill as a leader. !
5.
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14. • WE DO NOT LEAD an organization, department or group;
and your people do not follow strategic plans, fancy goals
or year-end reports | THEY FOLLOW A PERSON
• Often, our understanding id diluted with operational plans,
goal setting, revenue and sales forecasting, cash flow, HR,
compliance and the company’s bottom line.
• How You Influence Others is the Most Important
Part of Leadership

15. IQ: I must know who I am
& where I want my team to go
EQ: I must know how I am
seen, I must learn to relate
well to others, and I must
know how to attract talented
people "
LESSONS LEARNED
IN LEADERSHIP
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16. The Biggest Factor Affecting Progress Is
Human
Factor
LESSONS LEARNED
IN LEADERSHIP
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17. Team Leader
Team Member
Team Member
Team Member
Team MemberTeam Member Team Member
Team Member Team Member
North
LESSONS LEARNED
IN LEADERSHIP
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22

18. Team Leader
Team MemberTeam Member
Team Member
Team Member Team Member
North
LESSONS LEARNED
IN LEADERSHIP
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19. Delivery
Skills
Emotional
Intelligence
Discovery
Skills
Innovation:
Compelling vision of the
future that attracts others
Outcomes:
Ability to show others how
to get things done
Relationships:
Capable people actually
choose to follow you
LESSONS LEARNED
IN LEADERSHIP
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20. LESSONS LEARNED
IN LEADERSHIP
Leadership is an"
Autobiography"
…its about character"
Leadership is an
agreement.
You lead with
permission..
People need to know
who you are and
what you stand for
before they agree to
be led by you.
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21. We
Become
ü
What
we
Eat
ü
What
we
Read
ü
The
People
with
whom
we
spend
0me
Knowing
this,
I
use
the
following
tool
to
map
out
my
on
personal
development
plan
–
to
ensure
I
have
an
ac0ve
part
in
the
person
I
am
becoming…
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of
22

22. Personal
Life
Health
&
Fitness
My
Brand
/
Iden0ty
Network
/
People
Professional
Skill
–Knowledge
Experiences
My
Goal:
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr