Are You Ready To Be An Entrepreneur?

Important Traits, Helpful Experiences,

And Keys to Startup Success
UR-F.I.R.E. Series
Presentation

Roger D. OBrien
President - OBrien Associates, LLC
roger@ROBrienAssociates.com
585-737-0400
Are You Ready To Be An
Entrepreneur?
Important Traits, Helpful Experiences,
And Keys to Startup Success


OBrien Associates Proprietary
2008 All Rights Reserved
Myths of Entrepreneurship*
Entrepreneurs are misfits, difficult to work for.
Entrepreneurs are not good managers.
Most new ventures start out with OPM.
The average new venture wont make a profit
for 3 years.
80% of ventures will fail if they dont have a
good business plan.
You can learn to be an entrepreneur.

*Authors - Unknown
Important Entrepreneurial Traits
Tends to create a vision in his/her mind, in
advance of starting a task, for what it should look
like when its done.
Likes to keep many balls in the air at once,
becomes bored with singular tasks.
High energy level, enthusiastic, optimistic,
self-confident and self-reliant.
Pro-active, likes making things happen.
Is impatient with indecision and mediocrity.

OBrien Associates Proprietary
2008 All Rights Reserved
Important Entrepreneurial Traits (Contd)
Likes to be challenged, enjoys the risk of
failure.
Is tenacious, not easily discouraged.

Is this you?

OBrien Associates Proprietary
2008 All Rights Reserved
Prior large-employer experience:
Helpful or hurtful?
+ Training in how to do it right.
- Too little training on self-reliance and
general resourcefulness.

+ Cash for new projects often available.
- Investment criteria often narrow and risk-
avoiding.

OBrien Associates Proprietary
2008 All Rights Reserved
Prior large-employer experience:
Helpful or hurtful?
+ Support services plentiful.
- Wasteful overhead, all too often.

+ Employers name commands respect,
facilitates getting things done.
- Often a crutch which supports poor
ideas/projects.

OBrien Associates Proprietary
2008 All Rights Reserved
Prior large-employer experience:
Helpful or hurtful?
+ Perks and pay are often steady and high.
- Upside potential can be limited,
meaningful equity ownership is rare.

+ Career growth opportunities are often plentiful.
- Politics and empire-building often
become a primary agenda.
OBrien Associates Proprietary
2008 All Rights Reserved
Keys to Start-Up Success
1. Financing Make sure you obtain all you need
> Sanity-check your idea & business model.
> Have a realistic business plan
> Be enthusiastic in presentations !
> Ensure target audience understands
your ventures goals and opportunities.

OBrien Associates Proprietary
2008 All Rights Reserved

Keys to Start-Up Success (Contd)
2. Ensure sales success
> Play role of your customer .
Would you buy this product or service?

> Carefully design your value-proposition

> Use Sales Funnel concept to
monitor and manage your progress.


OBrien Associates Proprietary
2008 All Rights Reserved

Keys to Start-Up Success (Contd)
3. Hire excellent people who are venture-fit:

> Resourceful, motivated


> Can grow with business

> Give them a piece of the action.



OBrien Associates Proprietary
2008 All Rights Reserved



Are You Ready To Be An Entrepreneur?
Important Traits, Helpful Experiences,
And Keys to Startup Success

Thank You
Roger D. OBrien
President - OBrien Associates, LLC
roger@ROBrienAssociates.com
585-737-0400