Entrepreneurship Asst.Prof. Meral Dülger Taşkın Fall 2023 Beginning of the Fall Semester Entrepreneurship & Idea Generation Opportunity Recognition & Industry Analysis Social Entrepreneurship Entrepreneurial Finance E-Commerce Role of Management & Designing Investor Presentation Case Discussions: Armut.com End of the Spring Semester Business Model Canvas Market Analysis (2 Weeks) Customer Profiling & Value Proposition Map Marketing and Sales How is Amazon growing in the AI race? Amazon plans to invest up to $4BN in American AI startup Anthropic — the company behind chatbot Claude — Already invested $1.25bn for a minority stake in Anthropic The company will use Amazon's cloud computing platform Anthropic will also use Amazon’s AI chips to build its models Amazon looks to compete with tech giants Microsoft, Google and NVIDIA are all trying to convince AI startups to use their tech. Amazon recently launched Bedrock, the GenAI foundation service in September 2023 Entrepreneurs see opportunities where others see problems Entrepreneurship is the art of doing better Entrepreneurship is finding the «latent» one… Entrepreneurs look at the stars!!! But they should also kiss the ground! Planning and analysis is very important **All new businesses require a certain amount of entrepreneurial skill!! Creation Enterpreneurship Involves.. Innovation Risk assumption A new business is started. The business offers a new product, process, market, material, or organization. The owner of the business bears the risk of potential loss or failure of the business. General management The owner of the business guides the business and allocates the business’s resources. Performance intention High levels of growth and/or profit are expected + Peak Games 3 Features of Entrepreneurs Technician Manager Risk-taker Soichiro Honda What would you do if your workplace, where you invested your entire wealth, had been bombed twice and destroyed once by an earthquake, and are your obstacles that you now think you can't overcome, greater than the ones facing Soichiro Honda? When he comes up with a new idea, he persistently and stubbornly takes action to bring his idea to life and strives to perfect it. Continuing to work, producing and not giving up on his dreams, despite all kinds of pessimism and cynicism by those around him, Trying to find new solutions by thinking calmly without thinking about going into depression and giving up, even if he suffers great disasters and encounters obstacles that seem insurmountable When he achieves success even not being contented with this, looking for new opportunities around him and knowing how to turn even the situations that everyone sees as disasters into opportunities for himself. Never, ever give up on the journey to reach their goals. Why do people become entrepreneurs? Can’t have a boss/Can’t work in a formal structure Creative & innovative Resourceful Can sell ice to eskimos ☺ Craves freedom/control To pursue an emergent opportunity/business idea Financial ambition Risk-taker Drawbacks of Entrepreneurship Uncertainty of income Risk of losing your entire investment High levels of stress Long hours and hard work Complete responsibility Lower quality of life until the business gets established Discouragement Individual Entrepreneur Intrapreneur / Corporate Entrepreneurship Social Entrepreneurship Techno entrepreneurship Types of Entrepreneurship The Entrepreneurship Process Source: GEM Global Report 2010 The Entrepreneurship Process Source: https://neilpatel.com/blog/things-i-learned-launching-company-that-failed/ «Valley of Death» Refers to financial risks that start-ups face as they struggle to grow from small teams to going ventures Refers to the difficulty of covering the negative cash flow in the early stages of a startup, before its new product or service is bringing in revenue from real customers. Source: https://www.instagram.com/meganjherbert/ Entrepreneurship Environment in Turkey Source: Invest In Türkiye, 2021 Survival Rates in Turkey In Turkey, out of 100 new ventures 24 are shut down during the first 2 years 51 are shut down during the first 4 years 63 are shut down during the first 6 years Why do new Why ventures fail?ventures fail? do new Product / Market Problems Financial Difficulties Managerial problems Poor timing Initial under-capitalization Concept of a team approach Product design problems Assuming debt too early HR problems Inappropriate distribution strategy VC relationship problems Unclear business definition Over-reliance on one customer Check out: https://toptalent.co/50-basarisiz-startup-hatalarindan-cikarilacak-50-ders https://entrepreneurshandbook.co/12-lessons-from-my-7-failed-startups-196df41742
