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Entrepreneurship – the X factor John Sewell. Greenlight Computers Limited & Concept Castle Limited Founder. MBA Bolton 2009.

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Presentation on theme: "Entrepreneurship – the X factor John Sewell. Greenlight Computers Limited & Concept Castle Limited Founder. MBA Bolton 2009."— Presentation transcript:

1 Entrepreneurship – the X factor John Sewell. Greenlight Computers Limited & Concept Castle Limited Founder. MBA Bolton 2009

2 Greenlight Computers provide IT Support and outsourcing services to businesses in the North West. We have a comprehensive range of services, from setting up websites to full IT support. We provide onsite and cloud solutions and offer training, personal coaching and skills development services website:

3 "So, what made you decide to go into business for yourself?" "It was something my last boss said." "Really, what was that?" "You're fired."

4 Founder and owner of 4 companies. MBA SBM Bolton University FCMI Roles from Ops to Global Mergers & Acquisitions. Worked in Engineering, Textiles, Computer Mfg. Age 52. Married. 2 teenage children. About me

5 Greenlight Computers provide IT Support and Outsourcing services to businesses situated in Manchester and throughout the North West. We have a comprehensive range of services, from setting up businesses with , websites and IT infrastructure to providing full enterprise wide IT support. We provide onsite and cloud solutions. We also offer training, personal coaching and skills development services. Our customers cover many sectors, from legal to manufacturing, from private enterprise to public bodies and social enterprises. We design, implement and support the most appropriate IT support solution for the client. As the trusted IT partner we offer a "one stop shop" for all your IT needs. Our philosophy is to keep IT simple, keep IT working & keep IT secure. If you would like to know more about us why not contact us. Call us on us at: Take a look at our website at: About Greenlight Computers

6 Stimulating enterprise and entrepreneurship across our higher education institutions is now seen by many governments as fundamental to driving economic success and social cohesion. The European Union promotes the ‘fostering of entrepreneurial mindsets’ for all young people. In the UK, the government and devolved administrations encourage and support increases in the scale and diversity of students and graduates taking up entrepreneurial opportunities. The HE Enterprise Champions Project in the North West Region of England is supported by the NWDA, financed by EU funding Project awards have been provided to 5 institutions in Phase One and a further 5 in Phase 2. The project supports the creation of a Senior-Level Enterprise Champion who will act as a catalyst for change across the campus. The participating institutions are: University of Bolton University of Cumbria Lancaster University University of Liverpool Liverpool Hope University Liverpool John Moores University Liverpool Institute for Performing Arts Manchester Metropolitan University Salford University University of Central Lancashire Academic and governmental push.

7 One in four EU residents interviewed in December agreed their education made them interested in becoming entrepreneurs -- far fewer than said so in the U.S. and China.

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9 Here's what the late Anita Roddick, founder of The Body Shop, had to say on the topic in her book, Business As Unusual: Dysfunction is the essence of entrepreneurship. I've had dozens of requests from places like Harvard and Yale to talk about the subject. It makes me laugh that ivy leaguers are so keen to "learn" how to be entrepreneurs, because I'm not convinced it's a subject you can teach. I mean, how do you teach obsession? Because it is obsession that drives the entrepreneur's commitment to a vision of something new. Potential entrepreneurs are outsiders. They are people who imagine things as they might be, not as they are, and have the drive to change the world around them. Those are skills that business schools do not teach.” She believed that the ingredients of that X-Factor are passion and vision. Source: 2010 | Sep 22 in Entrepreneurship, Home Page News By E-Myth Business Coach Can entrepreneurship be taught?

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11 Can anyone become an entrepreneur? 'My message to graduating students here today is to dream; dream often and dream big. 'It is only recently that glamour and celebrity has become associated with entrepreneurship. Previously it was regarded as being a bit like Dell-boy from Only Fools and Horses. It is only in the recent past people have realised that enterprise and innovation is where a large proportion of employment and wealth in this country come from. 'Anyone can participate in being an entrepreneur. It isn't really about making money, although that can be a pleasant by-product of it, it is about making an impact and doing something with energy, passion until you are very, very good at it.' Source: Imran Hakim. Bolton University Fellow of Entrepreneurship

12 Atkinson: “This theory that anyone can become an entrepreneur is absolute nonsense. And what is terrible about that message is that it is making people risk their money and is therefore creating larger debts. It is just awful. I often have people saying they are going to sell everything and become an entrepreneur, and I say for goodness sake don’t do it. Very few people are wealth creators and it is really important that people realise where their strength lies.” Do I have the X factor?

13 Born or Bred? Atkinson: entrepreneurs are born not bred. Not a wealth creator Wealth creator Experts Not so attracted by personal risk or by commercial challenge. Sees value in getting processes right and focuses on achieving high-quality work. Prefers functional role using technical knowledge and expertise. Corporate-wealth creators Interested in developing a business within a structured context. Achieves this by energising groups in organisations. Willing to take business risks rather than personal risks. Looks for challenges in medium to large organisations. Enterprisers Seeks excitement from making things happen. Finds personal risk-taking exciting but prefers to share risks and rewards with others. Focuses energy on achieving goals but maintains reasonable work/leisure balance. Dislikes routine and constantly seeks challenges. True entrepreneurs Enjoys starting own businesses and devotes all energy and time to make things happen Does so often at the expense of family, possessions and reputation. Restless and often dissatisfied with what is achieved but very resilient and able to pick up and start again. Sees work as relaxation.

14 Ambiguity Beachhead strategies Commitment Destiny Effectual reasoning Focus Global Health Innovation Keep it real Leadership Meaning Never Giving Up Opportunistic People Quirky Risk Subjective Margins Timing Under the radar Value-add Work & Play X Factor You Zest A to Z of entrepreneurial traits

15 Want the t-shirt?

16 Richard Branson, said “Above all, you want to create something you are proud of… I can honestly say that I have never gone into any business purely to make money… I’ve had to create companies that I believe in 100%. These are companies I feel will make a genuine difference.” Source: 2010 | Sep 22 in Entrepreneurship, Home Page News By E-Myth Business Coach Why be an entrepreneur, is it ego?

17 Management Today Top 100 entrepreneurs 2010

18 Am I the right age? Age Under 25: 0.4% 26-30: 1.6% 31-35: 4.4% 36-40: 18.5% 41-50: 46.6% 51-60: 25.7% 61-70: 2.8% 70+: 0.0% Average Age: 47

19 Is my current job important? Current Role of the Entrepreneur CEO: 28.6% President or COO: 13.3% CFO or equivalent: 14.1% Head of Technology: 12.9% Chief Scientist: 3.5% General Counsel: 1.2% Head of an Operating Unit: 6.3% Head of Business Development: 9.4% Head of Marketing: 5.9% Head of Sales: 4.7%

20 Should I have done it before? Number of Companies the Entrepreneur Has Founded 0: 24.0% 1: 30.4% 2: 24.0% 3: 13.6% 4: 4.8% 5: 3.2% 6+: 0.0% Average: 1.5

21 Are any sectors better suited? Industry of Entrepreneur Biopharmaceutical: 9.3% Business Services: 2.3% Computers and Electronics: 3.5% Construction: 0.8% Consumer Products: 2.3% Defence: 0.8% Financial Services: 0.4% Healthcare Services: 5.8% Information Systems: 3.5% Insurance: 0.8% Internet / SaaS: 7.8% IT Services: 0.8% Materials and Chemicals: 0.8% Media: 1.2% Medical Devices: 7.4% Nanotechnology: 0.8% Networking Technology: 8.6% Real Estate: 1.2% Semiconductors: 8.6% Software: 20.6% Telecom: 1.2% Wireless: 8.9% Other: 2.7%

22 Do I have what it takes? If you can (honestly) say yes to six or more of the following questions then you have what it takes to be an entrepreneur: 1. Are you willing to take risks? 2. Do you have one or more goals you want to achieve? 3. Are you an optimist? 4. Do you make the most of opportunities? 5. Are you motivated and willing to work long hours? 6. Do you believe in yourself? 7. Can you bounce back after a setback? 8. Can you stand by your actions in spite of criticism? 9. Can you make your own decisions? 10. Do you have the potential to lead people? The Guardian 2002.

23 CharacteristicComments SchizophreniaFlits from idea to idea, never takes idea to delivery. LazinessLikes the idea but afraid of hard work EgotisticalToo proud to listen to others GreedyDrives short term decision making. Anti socialNetworking, networking, networking SquandererFlash cars before bottom line security. IntoleranceIt’s a team game, you will need help. IncompetenceJob has to be done right. Ignore the business planPlan, Do, Measure, Review, Revise, Do again. LonerDo you always know best? SensitiveAccept feedback and learn from it. InflexibleChange and adapt or die. Traits of a bad entrepreneur

24 Source: An organisational lifecycle

25 Know yourself Have a partner Family Be passionate about the finances Make mistakes Get outside your comfort zone. Network, network, network. Then network Have a burning platform Commitment Value your time, your expertise, your product/service Build a great team Focus on delivering excellent service Be healthy Seek, Listen, Learn, Enjoy What I have learned from running my own business?

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