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ENTREPRENEURSHIP A Seat of the Pants Presentation By Asst. Prof. Dr. Şamil Erdoğan.

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Presentation on theme: "ENTREPRENEURSHIP A Seat of the Pants Presentation By Asst. Prof. Dr. Şamil Erdoğan."— Presentation transcript:

1 ENTREPRENEURSHIP A Seat of the Pants Presentation By Asst. Prof. Dr. Şamil Erdoğan

2 ENTREPRENEURSHIP What is ??? It is the act of conceiving and initiating a business activity.

3 ENTREPRENEURSHIP Who is an entrepreneur ? Etymology: French, from Old French, from entreprendre to undertake -- : one who organizes, manages, and assumes the risks of a business or enterprise Etymology: French, from Old French, from entreprendre to undertake -- : one who organizes, manages, and assumes the risks of a business or enterprise Merriam-Webster's Online Dictionary, 10th Edition Merriam-Webster's Online Dictionary, 10th Edition

4 ENTREPRENEURSHIP

5 ENTREPRENEURSHIP What is my experience

6 ENTREPRENEURSHIP Started in 1986 with 2 partners in and 1 partner in USA in a 10 m 2 office. Established Started in 1986 with 2 partners in Türkiye and 1 partner in USA in a 10 m 2 office. Established ER-BA Trading, but did not quit my job. Job description – seek and find new products to market in. Job description – seek and find new products to market in Türkiye. Important products found – tower cranes, pvc based windows, tree transplant truck, mobile water drilling machine, composite pipes, automatic crude petroleum tank cleaning robots etc. Important products found – tower cranes, pvc based windows, tree transplant truck, mobile water drilling machine, composite pipes, automatic crude petroleum tank cleaning robots etc. – missed a chance to represent them Sun Computers – missed a chance to represent them Partners in participated in government public bids. Did not work hard enough. In first 6 months, sold nothing. Partners in Türkiye participated in government public bids. Did not work hard enough. In first 6 months, sold nothing.

7 ENTREPRENEURSHIP Had no money, used an intermediate company, Had no money, used an intermediate company, Irvine Trading. Did a lot of introduction, leg work, presentation, late night work Did a lot of introduction, leg work, presentation, late night work Changed the partners in Türkiye, got a new one. Changed the partners in Türkiye, got a new one. Made first money – 4,638.00, selling spare parts to Erdemir. Split the money Made first money – 4,638.00, selling spare parts to Erdemir. Split the money Life started to look good. It was the best money I ever earned. Life started to look good. It was the best money I ever earned.

8 ENTREPRENEURSHIP Worked until 1990 in California. Worked until 1990 in California. I learned enough about the business world by making mistakes and not repeating them. Moved to New Jersey in Business grew. Moved to New Jersey in Business grew. Worked from home. A telephone, a computer (ATT 280) and a fax machine is all needed. Worked from home. A telephone, a computer (ATT 280) and a fax machine is all needed.

9 ENTREPRENEURSHIP 2 Big missed opportunities: 1- TDÇİ Metallurgical Coal 2- Composite piping

10 ENTREPRENEURSHIP In Türkiye: COO - RAF Group of Companies, Imported and marketed laminates and compact products. CEO – Zintaş, Manufactured chains CEO – Vector, Manufactured and exported spare parts for automobile industry

11 ENTREPRENEURSHIP Lessons learned: Know yourself – can you do it? Know yourself – can you do it? Know your finances – do you have it? Know your finances – do you have it? Know what you want to do Know what you want to do Educate yourself Do a lot of research – market, products, competition etc. Do a lot of research – market, products, competition etc. At first, think big but act accordingly At first, think big but act accordingly

12 ENTREPRENEURSHIP Always have a A and B plan. Always have a A and B plan. Never spend more than you can handle. If you lose, it should not break you Never spend more than you can handle. If you lose, it should not break you Educate yourself Educate yourself Dont loose faith – in yourself, in your business Dont loose faith – in yourself, in your business Be persistent, but dont chase lost cause. Know when to quit. Be persistent, but dont chase lost cause. Know when to quit. Always be caucious, but trust your instincs Always be caucious, but trust your instincs

13 ENTREPRENEURSHIP Educate yourself Educate yourself Develop new contacts – at leat 2 a day Develop new contacts – at leat 2 a day Keep contacts going – even if you did not do business, keep in touch Keep contacts going – even if you did not do business, keep in touch Look for new opportunities Look for new opportunities Save money Save money Always keep your family informed Always keep your family informed

14 ENTREPRENEURSHIP Trust and respect your workers, but keep an eye on them Trust and respect your workers, but keep an eye on them Trust respect the people you do business with Trust and respect the people you do business with Never lie to yourself and to others, be always honest Never lie to yourself and to others, be always honest Always be a professional Always be a professional Keep your humor up, even if you loose a deal/money Keep your humor up, even if you loose a deal/money

15 ENTREPRENEURSHIP If it is too good to be true, be careful Dont forget, no one gives you easy money Educate yourself Use technology to your advantage as much as possible Dont ever loose your confidence Treat each of your customer/client as your best and most important one

16 ENTREPRENEURSHIP Dont forget, there is always tomorrow Dont forget, there is always tomorrow Dont forget, your family is the most important part of your life Dont forget, your family is the most important part of your life Beleive in God and the power of prayer Beleive in God and the power of prayer Dont forget, if you do not have your health, you can not do your business. Dont forget, if you do not have your health, you can not do your business. Keep healthy

17 ENTREPRENEURSHIP SMILE, SOMEONE LOVES YOU ITS JUST A BUSINESS

18 ENTREPRENEURSHIP THANK YOU


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