Entrepreneurship and Lean Startup.
Part 1- Founder.
Entrepreneurship and economy
Private sector made of SMBs is a basis of the open market economy. Not only it contributes to GDP and creates working places, it also creates the unique atmosphere of competitiveness and initiative in the society. Entrepreneurship and private initiative are the key drivers that moving western economy nowadays.
A total number of entrepreneurs in the US exceeds 27m now.
– 14% of the working population.
– 46% of private sector GDP.
This way we can see that for healthy economy private sector constructed of entrepreneurs is a critical component of the economy. Equally important as big enterprises.
Not all of them survive for long time unfortunately
Founder. The characteristics
The founder is another way to call an entrepreneur. To be a successful entrepreneur, it takes some unique combination of traits and qualities. This combination is not too unique though because millions possess it as we saw on the last slide. So what characteristics would we be mentioning been thinking about entrepreneurs?
- they are willing to take the risk
- they are willing to challenge the status quo
- they are ready to take the responsibility
- they are passionate about what they are doing
- they are ready to work long hours
- it’s more about lifestyle than about work
So, if the idea about leaving crease liner and starting your own journey in the ocean in a small boat is appealing to you probably the destiny of the Entrepreneur is something you may want to consider.
Several founders. How to avoid killing each other?
It is very important to have a team when starting a new business. A team of like-minded people but with a different set of skills. Normally business started by only single founder facing more challenges in the beginning. The risks are high enough for VCs to deny investments into the 1-man shows normally.
So the team has all the benefits except for interpersonal relations risk. Less so, in the beginning, it can become critical as time goes by or during the difficult times of crisis as well as during the happy times of victories.
It is very important to agree on all essential aspects of the business before the actual journey begins. You should be aware that owns shares of the company that cost nothing right now may eventually be worth millions in the future.