entrepreneur seminar

Notes 

The basics of entrepreneurship: sense of mission, customer/product vision, high speed innovation, and self-inspired behaviour.
The inclination of my life has been to do things and make things which will give pleasure to people in new and amazing ways.

Steve Jobs: The managers knew how to manage, but they couldn't do anything. (Apple Computer)
Sense of mission: leaving footprints in the sand
be excited, love your business! this is important stuff.

WHAT WENT WRONG ??????????????

• 33% of the excellent Co's ('62-'84)
• 84% of the 100 biggest Co's (1900-2000)
• 70%of the fortune 500(1955-2006)
• bigger isn't always better

Life cycle of entrepreneurial  

1. start up
2. high growth
3. decline
4. survival

"Seven deadly sins"

• everything that can be invented has been invented
• Charles duell director us patent office-1899
• I'm okay-your okay
• this produces terminal inaction
• we are not okay.... we are NEVER okay
• crises and a sense of urgency are necessary for organization to grow
• one best way
• silences workers forever
• kills innovation
• out of touch with competitors and customers
• your next great idea comes from this
• centralize everything
• this is about controlling everything...is biggest actually better
• when in doubt-decentralize lab in the woods (scientist take over)
• idea of having an innovation team out in the woods away from the hustle bustle of business allowed for creativity
• best ideas come form  the factory floor, lunch brainstorming with salesman and face to face
• marketing takes over
• or salesman takes over
• opposite to lab in the woods
• not product specialist... you need both scientist and salesman
• senior management disconnected
• sit in corner of office and make decisions
• sears was larger, built worlds largest tower in Chicago

John D. Rockeffeller notes

• write down what you make and spend every single day.
• child voted most to succeed
• grandfather first billionaire, but were criticized about how they spent it
• everyone said that his grandfather went beyond the law to get rich
• name known as ruthlessness and oil
• their name was always ment as power and wealth
• the oil was so good and booming, had everything named or to do with oil
• oil was in streets and in the air, rough and uncomfortable in life as anyone can imagine
• born in new york 1839, mother was a baptist, husband was a small time con artiest
• he wanted to control things his way
• to write it down and know all the money helps you be more respective of money.
• ledger a was when he recorder every thing like pennies.
• in 1865, he went into a partnership with Samuel Andrews.
• $100,000 driller--> refiner
• the cheaper it costs, the greater it's profits.
• the company grew by building up refineries.
• bought out competition by offering his stock.
• never lost his deep commitment to religion.
• Rockefeller in 1882 moved his company to New York.
• paid for a black woman's freedom
• established a college for black women in Atlanta.
• In 1889, he donated $600,000 to a college
• the only reason he gave lots of money because he had a sense of responsibility to use his money intelligently.
• he became the perfect example of capitalism gone mad.
• he own a portion of 34 companies.
• handed over his business to his son.
• ledger lasted for 2 generations
• he had a nervous break down and gave up his work.
• Rockefeller died 3years before he was 100 years old

What i learnt was that they were a very rich family. They were very involved in the oil stuff, and that they become so famous for creating the ledger were you write down everyhting that you make and spend, to help you appreciate what the value of money really is.  The ledger in the family only lasted 2 generations at the most.

summary on richard branson

What i learnt about Richard Branson is that he was dyslexic, dropped out of school when he was only 15. I found out that you dont really have to be smart or have alot of money to start a business. He had a record company and when it was at the highest point he sold it to someone else, Napster than came along and created more money for him in the end. So in the end Richard Branson was very successful, and has created so many different successful business.

• an unhappy customer will tell ten people about a problem, while a satisfied customer will tell only four people about a good experiance.

Richard Branson

• Well what can i say he has his own company, some that are today with it is:  radio, credit card, mobile, jewelery, holidays cola, vodka, and many more.
• if you can run one company you run any.
• you can learn from past experiences
• there is a very thin line between success and failure
• sold record company at its peak value Napster came along better and invested into his air line. 
• total revenue: 35$ billion
• employee's: 55 thousand
• he created a space ship that people will soon be able to go into space
• dyslexic no understanding of school,
• if not interested in something wont grasp it
• left school at 15/ dropped out.
• he was about 50 years old and just learning what  net and gross pay is.
• mother pushed him out door in elementary school told him to go 5 miles to find grandmas house
• went to prison before he became an billion air
• being a Father is very important to him
• extreme wealth--- extreme responsibility
• clinics in Africa and giving out free meds
• 56 years old
• legacy: live life to its full. make a differance if you can

24 rule

Today i learnd that there is a 24 hour rule. We talked about how it is that if you get into an argument or a fight with a person or a business collegue that you only have 24 hours to confront them and to talk about what happend that you didnt like. If you dont do this with in 24 hours you lose the right to be hurt. This is also a good way to comunicate with in peoples relationships becasue it gets everything out in the open. 

stocks tracking

So today im am writting about stocks. I am doing one on wal-mart stores. I really have no idea what stocks are or what they are about, but we are supposed to do it so i am going to write about them even though i still have no idea. I found out today about the stocks thats they are up by .26 or .46%. Which i think is good since that it is a greeen up arrow.