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ENTREPRENEURSHIP

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Introduction to Entrepreneurship

YARUQ NADEEM
Faculty Introduction

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Instructor: Yaruq Nadeem

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• Email: yaruq.nadeem@nbs.nust.edu.pk
• Office: Room# 306 (NBS)

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Consultation

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• Appointment via email

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Course Contents
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Introduction to Entrepreneurship

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• Recognizing and Shaping Opportunities

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• Building Business Models

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• Lean Startup Methodology

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Developing Business Plans and Pitching

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Opportunities

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• Opportunities and challenges in digital
innovations
• Attracting Talent and Building Ecosystems
Course Contents
• Financing Entrepreneurial Ventures

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• Partnering with Venture Capitalists

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• Intellectual Property Rights (Copyrights,
Patents, etc.)

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• Capstone Case Study

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 Recommended TV Show:
Course Material

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Textbook:

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None!  Relevant readings and cases will be

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provided
Reference Books:

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• Business Model Generation by Alexander

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Osterwalder

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• The Lean Startup by Eric Ries Watch at your own risk:

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Recommended Readings:
Business Publications such as Entrepreneur, Forbes
Magazine, Inc. Magazine, Fast Company,
TechCrunch, Wired, YourStory
Course Policies
Attendance

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• 5-min Policy
• Seating Plan

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• Missed Lectures

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• Official NUST duty

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Class Participation

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• Course is based on interactive
learning
• Students are expected to read
articles and prepare “Case Studies”
prior to each lecture
• Focus on quality rather than quantity
Course Policies

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Assignment/Report/Project

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• Late submissions will not be

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accepted
• Email assignment before

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deadline in case of any issue

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while submission

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Academic Dishonesty
• Cheating
• Plagiarism
 Course Evaluation

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COMPONENT

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Final Exam

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OHTs 30%

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Assignments/Project 20%

Quizzes (Unannounced) 10%

 Project Breakdown & Deadlines

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Component Weightage Deadline

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Business Model Canvas - Initial End of 3rd Week

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Business Model Canvas - Transition 2.5% End of 5th Week

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Business Model Canvas - Final End of 7th Week

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Lean Report 2.5% End of 7th Week

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Elevator Pitch - During 7th Week

Final Pitch 5% End of 15th Week

Business Plan 5% End of 15th Week

Project Execution + Class Participation 5% Throughout the semester

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What is Entrepreneurship?
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What is entrepreneurship?

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“Entrepreneurship is the pursuit of opportunity

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beyond resources controlled”

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- Professor Howard Stevenson
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“Entrepreneurship is the pursuit of opportunity beyond

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resources controlled”

Pursuit

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• Implies a singular, relentless focus

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• Entrepreneurs perceive a short window of opportunity

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• Need to show tangible progress to attract resources

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• Mere passage of time consumes limited cash balances

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• Entrepreneurs have a sense of urgency that is seldom seen in established
companies
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“Entrepreneurship is the pursuit of opportunity beyond

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resources controlled”

Opportunity

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An opening that is novel in one or more of the four ways:

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1. Pioneering a truly innovative product

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2. Devising a new business model

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3. Creating a better or cheaper version of an existing product

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4. Targeting an existing product to new sets of customers.

These opportunity types are not mutually exclusive & not the collectively
exhaustive set!
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“Entrepreneurship is the pursuit of opportunity beyond

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resources controlled”

Beyond Resources Controlled

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• At a new venture’s outset, its founders control only their own human, social, and

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financial capital

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• Many entrepreneurs bootstrap: they keep expenditures to a bare minimum while

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investing only their own time and, as necessary, their personal funds

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• With most high-potential ventures, however, founders must mobilize more

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resources than they control personally
• The venture eventually will require production facilities, distribution channels,
working capital, and so forth
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What are the risks d
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the Entrepreneur?
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Risks Faced

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1. Demand Risk - relates to prospective customers’ willingness to

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adopt the solution envisioned by the entrepreneur

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2. Technology Risk - engineering or scientific breakthroughs are

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required to bring a solution to fruition

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3. Execution Risk - entrepreneur’s ability to attract employees and

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partners who can implement the venture’s plans

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4. Financing Risk - whether external capital will be available on
reasonable terms
Tactics Used by Entrepreneurs

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1. Lean experimentation

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• Resolve risks quickly with limited resources

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• Minimum Viable Product to test Business Model Hypothesis

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2. Staged investing

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• Address risks sequentially. How?

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3. Partnering

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• Shifts risks to parties better able/more willing to bear them. How?
4. “Storytelling”
• Encourage resource owners to downplay risks and commit more resources
Analysis of Definition

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• It sees entrepreneurship as a distinctive approach to managing

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instead defining a specific role for an individual, a list of specific

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attributes or a specific stage in the organization life cycle

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• Provides a guidepost for entrepreneurial action; it points to tactics

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entrepreneurs can take to manage risk and mobilize resources

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THE END
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