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COPYRIGHT NOTICE 2010 - The Farrell Company USA © 2010 - The Farrell Company USA The following presentation is protected by international copyright law.

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Presentation on theme: "COPYRIGHT NOTICE 2010 - The Farrell Company USA © 2010 - The Farrell Company USA The following presentation is protected by international copyright law."— Presentation transcript:

1 COPYRIGHT NOTICE 2010 - The Farrell Company USA © 2010 - The Farrell Company USA The following presentation is protected by international copyright law. Any reproduction and dissemination without the express written consent of The Farrell Company is prohibited.

2 © 2010 The Farrell Company USA Welcome to... The Entrepreneurial Age

3 THE FARRELL COMPANY 1983 - 2010 THE FARRELL COMPANY 1983 - 2010 1.3 Million Trained 1.3 Million Trained 7 Languages 7 Languages 23 Int’l Affiliates 23 Int’l Affiliates 3 WW Markets 3 WW Markets * Corporate * Government * Individual 1.3 Million Trained 1.3 Million Trained 7 Languages 7 Languages 23 Int’l Affiliates 23 Int’l Affiliates 3 WW Markets 3 WW Markets * Corporate * Government * Individual

4 WHAT IT IS You’re An Entrepreneur! What Next?

5 The High- Growth Practices of Great Entrepreneurs WHAT WE’VE LEARNED

6 GETTING ENTREPRENEURIAL! IN CHINESE GETTING ENTREPRENEURIAL! IN CHINESE “Entrepreneurship is the hottest business subject in China today.” Lei Jiang CITIC Publishing, Beijing

7 PETER F. DRUCKER “Bigger is better turned out to be another 20th Century myth, and Larry Farrell has eloquently explained why.”

8 THE LIFE CYCLE OF ALL ORGANIZATIONS Startup High- Growth Decline Survival EntrepreneurialManagerial

9 WHAT WE’VE LEARNED The Magic of Entrepreneurship The Science of Management

10 THE BASICS OF ENTERPRISE Customer/Product Vision Customer/Product Vision High-Speed Innovation High-Speed Innovation Self-Inspired Behavior Self-Inspired Behavior Customer/Product Vision Customer/Product Vision High-Speed Innovation High-Speed Innovation Self-Inspired Behavior Self-Inspired Behavior Sense of Mission Sense of Mission

11 WALT DISNEY “The inclination of my life has been to do things and make things which will give pleasure to people in new and amazing ways. By doing that I please and satisfy myself.” THE BASICS OF ENTERPRISE

12 WHY PEOPLE, COMPANIES AND COUNTRIES ALL NEED IT Surviving The 21 st Century Global Economy

13 © 2010The Farrell Company USA First Yourself... Getting Entrepreneurial! Seminar

14 THE NEW ENTREPRENEURS “For the ones who won’t succeed, it will be because you get in your own way — not because the world doesn’t allow you.” WARREN BUFFETT BERKSHIRE HATHAWAY

15 THE NEW ENTREPRENEURS The Biggest Risk Of All The Biggest Risk Of All 70% “Dreaming” About It 70% “Dreaming” About It 3 Million Startups A Year 3 Million Startups A Year The Ultimate Meritocracy The Ultimate Meritocracy They Are Us! They Are Us! The Biggest Risk Of All The Biggest Risk Of All 70% “Dreaming” About It 70% “Dreaming” About It 3 Million Startups A Year 3 Million Startups A Year The Ultimate Meritocracy The Ultimate Meritocracy They Are Us! They Are Us!

16 GETTING ENTREPRENEURIAL! Sense of Mission: Leaving Footprints in the Sand Sense of Mission: Leaving Footprints in the Sand Customer/Product Vision: My Customer, My Product, My Self-Respect Customer/Product Vision: My Customer, My Product, My Self-Respect High-Speed Innovation: When Your Life Depends On It High-Speed Innovation: When Your Life Depends On It Self-Inspired Behavior: Love What You Do and Get Very Good at Doing It Self-Inspired Behavior: Love What You Do and Get Very Good at Doing It Sense of Mission: Leaving Footprints in the Sand Sense of Mission: Leaving Footprints in the Sand Customer/Product Vision: My Customer, My Product, My Self-Respect Customer/Product Vision: My Customer, My Product, My Self-Respect High-Speed Innovation: When Your Life Depends On It High-Speed Innovation: When Your Life Depends On It Self-Inspired Behavior: Love What You Do and Get Very Good at Doing It Self-Inspired Behavior: Love What You Do and Get Very Good at Doing It

17 SENSE OF MISSION THE STARTING POINT SENSE OF MISSION THE STARTING POINT What Do I Like To Do? What Do I Like To Do? What Am I Good At Doing? What Am I Good At Doing? What Unmet Needs Do I See? What Unmet Needs Do I See? What Competitive Position Would I Have? What Competitive Position Would I Have? What Capabilities and Cash Must I Have? What Capabilities and Cash Must I Have? What Do I Like To Do? What Do I Like To Do? What Am I Good At Doing? What Am I Good At Doing? What Unmet Needs Do I See? What Unmet Needs Do I See? What Competitive Position Would I Have? What Competitive Position Would I Have? What Capabilities and Cash Must I Have? What Capabilities and Cash Must I Have?

18 WHAT’S REALLY REQUIRED? An Entrepreneur- Friendly Culture A Bit of Money A Bit of Knowledge

19 AN ENTREPRENEUR-FRIENDLY CULTURE “… one of my advantages is that I don’t have a highly complicated view of business.” RICHARD BRANSON VIRGIN GROUP

20 A BIT OF MONEY “Risk? What risk? I started Microsoft for just $700!” BILL GATES MICROSOFT

21 A BIT OF KNOWLEDGE “Managing is the easy part. Inventing the world’s next great product is what’s hard” STEVE JOBS APPLE COMPUTER, NEXT, PIXAR

22 GETTING ENTREPRENEURIAL Do Something Great Do Something Great The Best Economic Tool Ever Invented The Best Economic Tool Ever Invented Don’t Do It Just To Get Rich Don’t Do It Just To Get Rich Nobody Can Stop You... Ever! Nobody Can Stop You... Ever! Do Something Great Do Something Great The Best Economic Tool Ever Invented The Best Economic Tool Ever Invented Don’t Do It Just To Get Rich Don’t Do It Just To Get Rich Nobody Can Stop You... Ever! Nobody Can Stop You... Ever!

23 © 2010 The Farrell Company USA Next Your Company... The Spirit of Enterprise Seminar

24 “The Conference Board’s CEO survey says top-line growth is the number one challenge in every region of the world.” Gail Fosler Chief Economist The Conference Board “The Conference Board’s CEO survey says top-line growth is the number one challenge in every region of the world.” Gail Fosler Chief Economist The Conference Board IT’S ALL ABOUT GROWTH

25 THE LIFE CYCLE OF ALL ORGANIZATIONS Startup High- Growth Decline Survival EntrepreneurialManagerial

26 ENTREPRENEURIAL COMPANIES Keeping the Sense of Mission Alive As You Grow Keeping the Sense of Mission Alive As You Grow Re-instilling Customer/Product Vision in Every Employee Re-instilling Customer/Product Vision in Every Employee Fostering High-Speed Innovation Fostering High-Speed Innovation Making Self-Inspired Behavior The Organization Standard Making Self-Inspired Behavior The Organization Standard Keeping the Sense of Mission Alive As You Grow Keeping the Sense of Mission Alive As You Grow Re-instilling Customer/Product Vision in Every Employee Re-instilling Customer/Product Vision in Every Employee Fostering High-Speed Innovation Fostering High-Speed Innovation Making Self-Inspired Behavior The Organization Standard Making Self-Inspired Behavior The Organization Standard

27 ENTREPRENEURIAL COMPANIES “The managers knew how to manage — but they didn’t know how to do anything.” STEVE JOBS APPLE COMPUTER, NEXT, PIXAR

28 KARI STEFANSSON DECODE GENETICS SENSE OF MISSION “We are studying the most sacred information that exists.”

29 Product Focus –+ ++ + – – – Customer Focus CUSTOMER/PRODUCT VISION EntrepreneurScientist BureaucratSalesman The Real Magic of Mr. Disney

30 HIGH-SPEED INNOVATION “ … when your life depends on it.” AKIO MORITA SONY

31 SELF-INSPIRED BEHAVIOR “They become your corporate family — you forgive and forget and you share the good and the bad.” JANNIE TAY THE HOUR GLASS

32 WHAT’S REALLY REQUIRED TO CREATE THE ENTREPRENEURIAL ORGANIZATION? WHAT’S REALLY REQUIRED TO CREATE THE ENTREPRENEURIAL ORGANIZATION? An Entrepreneur- Friendly Culture A Bit of Money A Bit of Knowledge

33 WHAT’S REALLY REQUIRED? “You have to get beyond managing. Every employee has to learn to behave as if the company is his own — as a true entrepreneur.” HERVE´ HANNEBICQUE THOMSON MULTIMEDIA

34 © 2010 The Farrell Company USA Finally Your Country... Creating An Entrepreneurial Economy

35 The mystery of economic growth The Economist May 25 - 31st, 1996 COPING WITH CHINA, CONT’D page 35 WELFARE WARS page 27 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Saudi Arabia %6.75 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Saudi Arabia %6.75 West Virginia $1.50 Turkey *5.50 Ethiopia ^6000 Greece GD6.78 Florida ++5.33 Albania P88.50 Czechoslovakia ª22.00 Peru 55.98 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Saudi Arabia %6.75 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Saudi Arabia %6.75 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Sadi Arabia %6.75 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Saudi Arabia %6.75 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Saudi Arabia %6.75 Argentina $3.50 Algiers DM4.50 Hong Kong $6.00 Saudi Arabia %6.75 “The most important question in economics... why are some countries richer than others?”

36 THE ENTREPRENEURIAL REVOLUTION REVOLUTION The Engine of Prosperity The Engine of Prosperity 90% Of All New Jobs 90% Of All New Jobs Global Economy Global Economy Huge “Niche” Markets Huge “Niche” Markets Start-up Capital Available Start-up Capital Available The Ultimate Meritocracy The Ultimate Meritocracy The Engine of Prosperity The Engine of Prosperity 90% Of All New Jobs 90% Of All New Jobs Global Economy Global Economy Huge “Niche” Markets Huge “Niche” Markets Start-up Capital Available Start-up Capital Available The Ultimate Meritocracy The Ultimate Meritocracy

37 Why The Poor Get Rich Why The Poor Get Rich Why The Rich Get Poor Why The Rich Get Poor Why Some Poor Stay Poor Forever Why Some Poor Stay Poor Forever Why The Poor Get Rich Why The Poor Get Rich Why The Rich Get Poor Why The Rich Get Poor Why Some Poor Stay Poor Forever Why Some Poor Stay Poor Forever THE PROSPERITY CYCLE OF NATIONS THE PROSPERITY CYCLE OF NATIONS Rise GrowthDecline Fall

38 ENTREPRENEURIAL BASICS Customer/Product Competitiveness Customer/Product Competitiveness National Urgency to Improve National Urgency to Improve A Nation of Self-Inspired People A Nation of Self-Inspired People Customer/Product Competitiveness Customer/Product Competitiveness National Urgency to Improve National Urgency to Improve A Nation of Self-Inspired People A Nation of Self-Inspired People National Sense of Mission National Sense of Mission

39 WHAT’S REALLY REQUIRED TO CREATE AN ENTREPRENEURIAL ECONOMY? WHAT’S REALLY REQUIRED TO CREATE AN ENTREPRENEURIAL ECONOMY? An Entrepreneur- Friendly Culture A Bit of Money A Bit of Knowledge

40 AN ENTREPRENEUR- FRIENDLY CULTURE “... creating an entrepreneurial economy has become public policy in Kentucky.” KRIS KIMEL, PRESIDENT KENTUCKY SCIENCE & TECHNOLOGY CORP. Cultural Heroes Cultural Heroes Government Policy Government Policy Education System Education System Scientists & Engineers Scientists & Engineers Startup & IPO Capital Startup & IPO Capital Patents Issued Patents Issued Business Startups Business Startups Cultural Heroes Cultural Heroes Government Policy Government Policy Education System Education System Scientists & Engineers Scientists & Engineers Startup & IPO Capital Startup & IPO Capital Patents Issued Patents Issued Business Startups Business Startups

41 A BIT OF MONEY “We created a venture capital fund — almost unheard of for a city.” CHARLES MILLARD ECONOMIC DEVELOPMENT CORP. CITY OF NEW YORK Average Startup Cost$14K Average Startup Cost$14K A Year on Welfare$20K A Year at Harvard$25K A Year in Prison$30K

42 A BIT OF KNOWLEDGE Expert on Customer and Product Expert on Customer and Product Master of Entrepreneurial Basics Master of Entrepreneurial Basics Expert on Customer and Product Expert on Customer and Product Master of Entrepreneurial Basics Master of Entrepreneurial Basics MICHAEL DELL DELL COMPUTER

43 ENTREPRENEUR DEVELOPMENT PROJECTS ENTREPRENEUR Estonia Estonia Finland Finland Brazil Brazil Uruguay Uruguay Canada Canada Ireland Ireland Malaysia Malaysia Singapore Singapore Estonia Estonia Finland Finland Brazil Brazil Uruguay Uruguay Canada Canada Ireland Ireland Malaysia Malaysia Singapore Singapore India India Australia Australia South Africa South Africa New York City New York City Kentucky Kentucky Apache Nation Apache Nation United Nations United Nations Northern Ireland Northern Ireland India India Australia Australia South Africa South Africa New York City New York City Kentucky Kentucky Apache Nation Apache Nation United Nations United Nations Northern Ireland Northern Ireland

44 ENTREPRENEUR DEVELOPMENT PROCESS ENTREPRENEUR Involve Local Leadership Involve Local Leadership Inspire Potential Entrepreneurs Inspire Potential Entrepreneurs Develop the Entrepreneurs Develop the Entrepreneurs On-going Support On-going Support Involve Local Leadership Involve Local Leadership Inspire Potential Entrepreneurs Inspire Potential Entrepreneurs Develop the Entrepreneurs Develop the Entrepreneurs On-going Support On-going Support

45 CREATING AN ENTREPRENEURIAL ECONOMY National Sense of Mission National Sense of Mission Customer/Product Competitiveness Customer/Product Competitiveness National Urgency to Improve National Urgency to Improve A Nation of Self-Inspired People A Nation of Self-Inspired People National Sense of Mission National Sense of Mission Customer/Product Competitiveness Customer/Product Competitiveness National Urgency to Improve National Urgency to Improve A Nation of Self-Inspired People A Nation of Self-Inspired People Rating Your Country: The Entrepreneurial Basics High Priority Actions?

46 CREATING AN ENTREPRENEURIAL ECONOMY An Entrepreneur-Friendly Culture An Entrepreneur-Friendly Culture A Bit of Money A Bit of Money A Bit of Knowledge A Bit of Knowledge An Entrepreneur-Friendly Culture An Entrepreneur-Friendly Culture A Bit of Money A Bit of Money A Bit of Knowledge A Bit of Knowledge Rating Your Country: What’s Really Required High Priority Actions?

47 SUGGESTIONS FOR CHINA CHINA Align The “Job / Baby” Ratio Align The “Job / Baby” Ratio Product/Market Competitiveness Product/Market Competitiveness Make Products The World Needs Make Products The World Needs Avoid The “MBA Syndrome” Avoid The “MBA Syndrome” Honor Chinese Entrepreneurs Honor Chinese Entrepreneurs Align The “Job / Baby” Ratio Align The “Job / Baby” Ratio Product/Market Competitiveness Product/Market Competitiveness Make Products The World Needs Make Products The World Needs Avoid The “MBA Syndrome” Avoid The “MBA Syndrome” Honor Chinese Entrepreneurs Honor Chinese Entrepreneurs

48 WALT DISNEY “The inclination of my life has been to do things and make things which will give pleasure to people in new and amazing ways. By doing that I please and satisfy myself.” THE BASICS OF ENTERPRISE

49 © 2010 The Farrell Company USA Thanks for joining... The Entrepreneurial Age

50 COPYRIGHT NOTICE 2010 - The Farrell Company USA © 2010 - The Farrell Company USA The preceding presentation is protected by international copyright law. Any reproduction and dissemination without the express written consent of The Farrell Company is prohibited.


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