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G6_[ENT‐2] Introduction to Entrepreneurship, G6 (IBS(M) Abby (50%), IBS3…

- - - - US business started by
        
        36% :man::skin-tone-6: (minority groups)
        
        ......
        
        38% :woman::skin-tone-2: (women)
        
        Sometime they have barriers Fundraising
  - - - Be a positive power human
        
        Increase the likelihood of becoming an entrepreneur
  - - - The average age is 42
      - Success peaking between 45 and 52
- - - - Population Overview
        
        0.3% of U.S. adults
        
        Difficulty
        
        99% small businesses
      - Market Employment
        
        67%
        
        37%
        
        High-tech startups
        
        Small businesses
        
        Private sector jobs
  - - - Uses market strategies to create impact rather than philanthropy.
        
        Challenges
        
        Social Missions in Traditional Enterprises
        
        "Customers put fashion & design first,” cost is next and quality is third. Social mission probably fourth."
        
        Warby Parker – buy-one-give-one :eyeglasses:
        
        TOMS – Donates shoes for each pair sold :mans_shoe:
        
        Scaling
        
        High operational costs
        
        reaching underserved communities
        
        :bulb: solution
        
        Partnerships
        
        1 more item...
        
        Policy influence
        
        1 more item...
        
        Financing
        
        Traditional venture capitalists prefer fast growth but social ventures often need patient capital.
        
        :check: Alternative funding sources
      - Not traditional
      - “social entrepreneurship”
        
        (often synonymous)
        
        sometimes involve other areas
        
        like: healthcare, sanitation, education, energy
      - Not non-profits
- - - - e.g. Recombinant DNA technology
        
        e.g. Google/Facebook
    - - :tada:successful cases
      - resources
    - - commercial expertise
      - technical expertise
        
        in the initial stage of the formation
  - - - highly extreme geographic co-location
        
        isn't a coincidence :cool:
    - - 1/3 venture in the US
        
        Silicon Valley
        
        Boston
    - - center of specialized knowledge
  - - - Bargaining power
        
        Factors that affects the market
      - Market power
      - How unique you are
- - - - Product-based
        
        when revenue > costs
        
        Profit
        
        lifetime value of a customer > customer acquisition cost
        
        Q(p-c) > F
        
        eg. Q ($50-$20) > $400K
        
        need to sell > 13,3334 units
      - Service/software-based
        
        when LTV > CAC
  - - - Laura founded Bedtime Math
    - - (Raaka Chocolate) Nate & Ryan love for organic chocolate
    - - Carl founded Terrafugia Flying cars!
    - - local shop, street vendor for living
- - - - 💡 How Mature Companies Stay Innovative💡
        
        Key checkpoints🔑
        
        ✔️ Balance efficiency & creativity
        
        ✔️ Use partnerships & acquisitions to stay competitive
        
        ✔️ Foster innovation culture
        
        How Mature Companies Stay Innovative
      - Big firms focus on high-end markets
        
        Ignore low-end
        
        New firms take over!
    - - Exploration
      - Exploitation
- - - - Average rate of return
    - - strategies can increase the success
- - - - IPO
        (Initial Public Offering)
        
        Generate high returns
      - Acquisition
- - - - Discontinuity
- - - - Social Ventures
- - - - Primary goal: social impact
- - - - Donations, grants, and volunteers.
- - - - NGOs, social enterprises

Its exact impact isn't definitively known

✅ Internal Innovation – Google’s 20% Time for side projects.

✅ R&D Investment – Microsoft, Intel invest in research labs.

✅ Alliances & Acquisitions – Tesla x Toyota (EV R&D), Facebook bought