course introduction. goals for course: i want to learn how to.. manage my own company develop...

Course introduction

Goals for course: “I want to learn how to..”

• Manage my own company• Develop creative ideas I can use in my career• Start a business• Finance and place a valuation on a business• Decide which type of business to start• Develop a global brand• Be a true entrepreneur and how to effectively

implement those qualities into my professional life.

Goals for course: “I want to learn how to..”

• Know where to put my money in my business and how you know it’s the right time to do that

• Present a new idea that can make money and be ethical to society

• Open my own successful restaurant or another type of business

• Recognize and take advantage of an entrepreneurial opportunity when it arises

• Own a restaurant and gift shop

Goals for course: “I want to learn how to..”

• Start and maintain a successful company through growth

• Evaluate the logistics and possibilities of new ideas

• Make relatively quick but also informed decisions in the business world where time is of the essence

• Separate the good ideas from the bad

Admired entrepreneurs

• Steve Jobs• Truett Cathy (founder of

Chick-fil-A)• Jim McCann (1-800-

flowers)• Jeff Bezos (Amazon)• Sean "P Diddy" Combs• Sam Walton• Benjamin Franklin

• Bill Gates• Richard Branson• Joyce Clyde Hall

(Hallmark Card Co)• Tyra Banks• Kevin Plank (Under

Armour)• Brian Taylor (Kernel

Seasons) • Johnny Morris (Bass Pro

Shops)

Admired firms

• Google• ESPN• General Electric• Wal-Mart• Bariatric Health &

Wellness (Tusc, AL)• Target• Nike• Apple

• Toyota• Amazon.com• Merck & Co.• St. Jude Children's

Research Hospital• Phoenix Lumber

(Mobile)• Chick-fil-A• National Rifle Assn

My research interests

My research interests

My research interests

My research interests

My research interests

Duration of window of opportunity

Window closes

Window opens

Too early Too late

Likelihood of failure through action

Likelihood of failure through inaction

0%

100%

Lik

elih

ood

of fa

ilure

Triggers Prospectivememory

Uncertainty

+

Counterfactualthinking action

domain

Prefactualthinking action

domain

Time

Time urgency

_ _ +

Domain of entrepreneurial action

+

My goals for you

• Become aware of how business models work and how people make profits – understand the underlying logic of the model

• Become able to differentiate great ideas from bad ideas

• Develop skills that will help you become successful entrepreneurs

• Have fun