So you want to be an entrepreneur…
2 Developing the Next Generation of Leaders
I hope you are leaving CTLS with…
Stronger sense of 2 career paths to focus on for next summer
Significantly stronger analytical/strategic skill set
At least one firm digging me that I can leverage to an offer
1-2 potential real career mentors
5-10 new friends
A Roadmap to get the most out of school
Some memorable stories
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MLT’s Corporate Partners
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Desired Outcomes
Understand what it takes
Give each of you a framework/roadmap to prepare
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Smart People who “Get it” and can tell a compelling story…
Hard Skills
» Analytical/Problem Solving Skills
» Oral/Written Communication Skills
» Industry Knowledge
» Selling Skills
» Presentation/Interviewing skills
» Time Management
» Project Management
» Standardized Test Taking
Soft Skills
» Relationship Management
» Self-Awareness
» Goal Setting/Roadmapping
» Knowing the Bar of Excellence
» Leadership
» Decision-making in Professional Environment (including minority-specific issues)
» Scrappiness/Tenacity
» Service Orientation
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To be a Successful Entrepreneur…
» Vision (for plan A and plan B)
» Intuition
» Ambiguity brings out your best
» Sales mentality
» Appetite for obscurity/pride not driven by affiliation
» Hard headedness
» Tactical execution capability
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What you would like to be able to say You have done…
Driven results in an unstructured environment
Crafted a strategy that delivered positive results
Built/lead a team effectively through adversity
Influenced/sold in ideas/products to customers
Fostered collaboration across functions
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Entrepreneurship Readiness Framework
Skills
Who else is on your team?
Who will be willing to take a bet and be an early customer so you can prove your model?
Who can you go to for your startup funding?
Do you have a Personal Board of Directors? Who is on it?
What has given you unique insight into the opportunity?
What have you done that demonstrates that you have what it takes to build something successful?
What specific skill sets do you bring to the venture that will position it to achieve its near term goals?
Functional and technical expertise
How did you develop those skills?
Experience
Relationships
Experience
Relationships
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Who should be on Your Personal Board of Directors?
Sage: Guidance on medium/LT path (“been there done that”)
Navigator: Near term guidance on tough decisions
Connector: Provide access to key people/resources
Industry/functional expert: where your team is lacking
Insider: Feedback on your readiness at each stage
Cheerleader: Positive reinforcement and honest feedback
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Your Opportunity…Convince decision makers to give you the green light
» Share high concept statement - no more than 1 sentence on your idea (we are not evaluating merit of the idea)
» Share where the idea came from or how it ties to what you are passionate about
» What have you done over the last 7 years (5 years work + 2 years B-school) to make us believe you can pull this off?
» How have you developed the requisite skills?
» What experiences have given you deep insight into the opportunity?
» What experiences have prepared you to execution on the opportunity?
» What are the key relationships you have developed that will increase your chances to win/make your investors money
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Clusters Technology (includes web-driven)
Manufacturing/product-oriented (B2B or B2C)
Professional Services
Consumer Services
Social entrepreneurship/non-profit
Media & Entertainment
C-Level executives (those who do not aspire to be entrepreneurs)
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Your Action Plan
» What are the implications for what you need to do during and after business school?
» To get the insight, skills, experiences, relationships
» What are the implications for your job search while in B-school?
» What are the implications for your early jobs after B-school?
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Questions…
» What are the holes in your story?
» What are the differences between your initial thoughts and your new action plan?
» Where do you see your personal life in 7 years and what tradeoffs are required?
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Prioritizing the Keys to MBA Success
Academics
Career Transition
Personal Growth
Extracurriculars
Relationship Development
Career Transition • Job search• Career exploration
and education• Industry specific skill
building
Extracurriculars• Clubs• Sports• Community• Social
Personal Growth• Commit to your own
development• Remember why you
are there• Have a plan for
personal growth and work it
Relationship Development
• Cuts across all areas• Don’t just focus on
minorities
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Relationship Management During Business School
TIER 1
Who/what• Extra-curricular activity participants• Organizations on and off campus• Professors• Corporate folks coming to campus
POA• Be active in extracurriculars; Hang out
socially outside section• Strong relationships w/ 2+ Professors• Add Value/help peers• Do well in class - memorable comments• Visit other schools (conferences, etc)
Who• Students who don’t know
you well• Corps & faculty
POA• Manage positive or no
“reputation”• Good word of mouth• Be good in class• Take on leadership roles
Who• Section mates• Close friends• Study Group
POA• Invest time• Not just minorities• Add Value/help• No drama
TIER 2
TIER 3
Takeaways• Be intentional but genuine• It won’t just happen• Work outside comfort
zone• Manage downside
TIER 2
TIER 3
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