Tuesday, February 24, 2009

Oklahoma entrepreneur conference Tuesday AM live notes

Dr. Sarah Friedman
Dean at OSU
Has started entrepreneurship programs: minor, major, and MBA.

Dr. Mike Morris
Joining OSU in January
Fulbright Scholar
The Entrepreneurial Revolution: Is Oklahoma Prepared?
The resonable man adapts himeslef to the world. The unreasnable man persists in adapting the world to himself. Therefore, all progress depends on unreasonable men. George Bernard Shaw.
The role of the entrepreneur is to stand up to all... to stand up to reidicule. Tom Peters.
Michael Dell's plan was unreasonable - cusomizing the computers AND selling them direct AND for less.
"We make entrepreneurs out to be these superheroes... They're not super men, they are ordinary people who do extraordinary things." It's a tough road.

The E Revolution - Entrepreneurs are key, the only thing that matters.
Rate of startup is at an all-time high.
The glamour of the fortune 500 is worn off. Its the INC and the FAST 500.
70% of high school kids today say they want to have their own business someday.
1 million new ventures a year in the US
85% of the new jobs
The secret weapon of America has always been our entrepreneurship.
The age of omnipresent entrepreneurship

It's not how many businesses are in Oklahoma. That's an interesting question, but it isn't the relevant question. It's the rate of entry and exit, the flow and rate.

Entrepreneurship is a lifetime philosophy, affecting your perspective on everything.
It is a process - dreaming and then doing (with several steps he listed and I missed.)

About 15% of small businesses have relatively high entrepreneurial intesnsity scores. Those are the ones who create jobs.
1. Survival ventures
2. Lifestyle
3. Managed Growth
4. High Growth

High growth gets all the attention, but is less than 1% of the total ventures.
Put more attention on Lifestyle and Managed Growth as well.

It's not that you don't make mistakes. I'ts important that you survive your mistakes.

The entrepreneur is creating the venture, and the venture is creating the entrepreneur. From the experience, you grow.

Entrepreneurs are indeed formed and created.

Entrepreneurs aren't driven by money. It's the need to achieve. Internal locus of control. (able to affect their environment)

Opened a new restaurant. Held an opening party, only for hairdressers. Bought a HUGE amount of WOM. Guerrilla Skills.

It's about the environment, stupid. More entrepreneurs per capita. It's not just
Let's have another incubator somewhere. How we we connect angel networks, focused bootcamps, seed capital, entrepreneur networks,

Secretary Natalie Shirley
Sec of Commerce and Tourism
Husband is a serial entrepreneur
Oklahoma is starting an incubator for music-related businesses.

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