UNCW Center for Innovation and Entrepreneurship

Conference Proceedings

2nd Annual North Carolina Entrepreneurship Educators Conference

~ Wilmington, NC lJNCW November, 2018 CAMERON Craig S. Galbraith (Editor) ScH001..o{Bus1 , ESs

UNC KENAN-flAGlEll CENl ER II ENTREPRENEURIAL STUDIES ___ RON ~ LEARN SCHOOL of BUSINESS ~ ~UNCH ,,- LEAD Proceedings 2nd Annual North Carolina Entrepreneurship Educators Conference (2018 NCEEC)

Thank you all for participating in the 2nd Annual North Carolina Entrepreneurship Educators Conference (NCEEC) held this year at the UNCW Center for Innovation and Entrepreneurship. We had approximately fifty entrepreneurship educators from across North Carolina, and even a couple from Texas and California. The strategy of the NCEEC is to create a conference that is “owned” by the educators of North Carolina, and to ultimately rotate the hosting of the conference throughout different educational venues in North Carolina. The 3rd Annual NCEEC will be hosted by UNC Chapel Hill in late Fall, 2019 (watch for the exact date in a future e-mail). The purpose of the NCEEC is two-fold. First, to offer a forum by which Entrepreneurship Educators from around North Carolina can discuss important issues related to innovation and entrepreneurial education in North Carolina. While there are certainly common themes of entrepreneurship topics across the nation, North Carolina does pose some unique issues and opportunities in both rural and urban areas. Second, having a state-level conference allows us to build a community of educators that can connect with each other throughout the year, hopefully developing ideas and programs that will continue to assist in North Carolina’s economic development. One simply can’t get this sense of community at large, national conferences. More and more states are now developing state-level conferences for these reasons, and North Carolina wants to stay on the cutting edge. The Proceedings of the NCEEC are an opportunity for participants to access the many fine presentations during the conference. The author of the presentation retains copyright for the individual presentations in these NCEEC Proceedings. We also extend our warmest thanks to the co-Sponsors of the 2018 NCEEC, the UNCW Cameron School of Business and the UNC Kenan-Flagler Center for Entrepreneurial Studies Conference Organizer and Proceedings Editor: Craig S. Galbraith Conference Graduate Assistant and Co-Organizer: Jorge Vargas Amezcua Contact Craig S. Galbraith Director, UNCW Office of Innovation and Commercialization Professor, Technology Management and Entrepreneurship Cameron School of Business, University of North Carolina 601 S. College Road, Wilmington, NC 28403 [email protected] 2ND ANNUAL NORTH CAROLINA ENTREPRENEURSHIP EDUCATORS CONFERENCE November, 2018

SCHEDULE OF ACITIVITIES and PROCEEDINGS TABLE OF CONTENTS

Friday, Nov 2 Conference Schedule Proceedings

8:00 am to 8:50 am Registration & Breakfast

8:50 am to 9:30 am Welcome, Rob Burrus, Dean, UNCW Cameron School of Business.

Introductory Address, “The Entrepreneurs Genome”, pp 4-48 Ted Zoller, Director of the UNC Kenan-Flagler Center for Entrepreneurial Studies

9:30 am to 10:50 am “Rocket” Workshop Panel: Best Practices for Teaching Entrepreneurship. a) Elisabeth Struckell (University of North Texas) “Inspiring Student Entrepreneurship through Trend Surfers Megatrends” pp 49-76 b) Mike Harris (East Carolina University) “Best Practices in Developing Client-Based Experiential Learning Courses” pp 77-82 c) Xaver Neumeyer (UNCW) “Teaching Entrepreneurship Analytics” pp 83-93 d) Steve Phelan and Caroline Glackin (Fayetteville State University) “Fostering Entrepreneurial Competencies in a Core Curriculum Course” pp 94-100 10:50 am to 11:00 am Break

11:00 am to 12:20 pm “Rocket” Workshop Panel: Social and Sustainable Entrepreneurship a) Patrick Vernon (UNC Chapel Hill) “Entrepreneurial Strategy: How to Think Like a VC” pp 101-134 b) Debbi Brock (Wingate University) “The Synergistic Affects of Sharing Teaching Pedagogy and Research” pp 136-153 c) Edelmira Segovia and Jacqueline Benitez-Galbraith (UNCW) “Reaching the Hispanic Community” pp 154-160

12:20 pm to 1:00 pm Lunch at CIE

1:00 pm to 1:30 pm Student and Entrepreneur panel – “What works and doesn’t work from the perspective of the entrepreneurship student and the entrepreneur.”

1:30 pm to 3:00 pm “Rocket” Workshop Panel: Integration Across the Campus a) Hannah Levinson (Queens University) “Interdisciplinary Entrepreneurship Education: A New Liberal Arts Platform” pp 161-172 b) Bob Lahm (Western Carolina University) “How to Reach Across the Campus with Entrepreneurship: The Order is Taller than That” pp 173-234 c) Renee Just (Catawba College) “Entrepreneurship Integration: Finding the Nooks and Crannies” pp 235-243

d) Vijay Patel (UNC Charlotte) “Entrepreneurial Leadership – e) Engaging Millennials with Contemporary Leadership Profiles” pp 244-264

3:00 pm to 3:10 pm Break

3:10 pm to 4:20 pm “Rocket” Workshop Panel: Entrepreneurship in Disadvantaged Environments – Rural, Poor and Urban Settings a) Craig Galbraith (UNCW) “Disaster Related Entrepreneurship and Teaching Crises Management” pp 265-274 b) Scott Kelly (Campbell University) “A Collaborative Conversation about Teaching in Disadvantaged Situations” pp 275-292 c) Todd Lyden (Bladen CC) “Summary of Webinar Series for 10 country prosperity zone” pp 293-318

4:20 pm to 5:00 pm Closing Address: The Future of Entrepreneurship Education” pp 319-340 Alex DeNoble, Professor of Entrepreneurship and Executive Director of the Lavin Entrepreneurship Center at San Diego State University. 2015 President of the USASBE and Board Member ICSB

Closing Comments: Craig Galbraith, Director of the UNCW Office of Innovation & Commercialization

~ lNCW CAMERON SclHOOL of BUSINESS THE ENTREPRENEURSHIP CENTER MYTHBUSTING & MENTORING: INSIGHTS FROM THE ENTREPRENEURS GENOMEGENOM PROJECT

KENAN-FLAGLER BUSINESS SCHOOL IUNC ENTREPRENEURSHIP CENTER

Ted Zoller,>lier, PhD T.W. Lewis Distinguished Clinical Scholar and Professor And Director, UNC Entrepreneurship Center 919.201.1595 | [email protected]

• Is there an Entrepreneurial Career Path? • Breakouts and Setbacks: Tracking Entrepreneurial Events • Characteristics of the Entrepreneur • Supporting Diverse Profiles of “Entrepreneurship” • Potential of the Adams Apprenticeship

4 Myths | 4 Grand Challenges

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Entrepreneurs Follow a Predictable Linear Career Path

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

~ g lUT->&LLISC JOI- HUS Tl SC OOOK IS tH• WOaLD “Before you enter the job RICHARD N . BOLLES hunt, decide exactly what you are looking for –your passion Vice President or your purpose in life or your mission.”

WHAT COLOR Senior Manager IS YOUR

PARACHUTE? Area Sales Manager 2018

A PRACTICAL MA:'(UAL FOR JOB - IIUNT F.RS A:'(D CAR F.F.R-C II A :'(CF.RS

L Ooeorlh

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

-10 -5 0 5 10 15 20 25 30 35 40 Year From Undergraduate Graduation

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Path Archetype Founder Investor C-Suite Board Member Entrepreneur-in-Re .. President Vice President Director Educator Manager Consult ant Military Employee -2 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42

P a th Archetype Founder Vice President Director Manager 0 2 4 6 8 10 12 14 16 18 20 22 24 Year in Career LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Perception Reality

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Founder 2

Growth Board Member Executive CEO I - I Other Educator ■ Entry level

Student Undergraduate

1990 199S 2000 200S 2010 2015 2020 Year

Breakouts: Setbacks: 1996 –Started a new venture 2004 – Company Failed 2000 – Successful exit 2013 – IPO (Valuation: $286.6M)

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Founder 6 I

Breakouts: 2002 –Started a new venture 2010 – High growth period seniorv,ce Growth President Executive I 2013 – Successful exit Vice President

Other Vice President

senior Director Setbacks: 2004 – Company Failed Director Manager I Entry level

Student MBA

Undergraduate f 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Year LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Founder 4

2 Breakouts: 1 - 1998 – High growth period Funder Partner 2000 – Successfully pivoted with changing market Growth Vice President Executive 2016 – Personal fulfillment from rewarding work Senior Director • I Other Oirect0t ■ Manager Setbacks: 1999 – Professional Entry Level .. shortcomings Student MBA 2009 –Company failed

undergraduate

1985 1990 1995 2000 2005 2010 2015 2020 Year

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

.5 0 5 10 15 20 25 30 35 40 45 so 55 Year From Start of Undergrad

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

What characterizes an entrepreneurial career path? What would make it different from a typical managerial career?

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

All Entrepreneurs Are Driven by Ideas & Innovation and Start their Ventures Early in their Careers

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Characteristic ■ confident ■ Disciplined ■ Driven ■ Moral ■ Passionate Persuasive ■ Resilient Risk Taker ■ Strategic Visionary

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Characteristic ■ Driven ■ Passionate ■ Resilient Risi< Taker Visionary

Vis,onary

Risk Taker

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Experience ■ Failure Leadership Industry Knowledge Learning something ■ new Learning something new ■ Networking Customer Development ■ Pivoting Success ■ Financing a venture Deve opment ■ Working in a Startup

Success

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Experience ■ Failure Leadership ■ Industry Knowledge Leaming something new Leaming something new ■ Networking

Leadership

Industry Knowledge

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Skill ■ Business Development Developing Relationships ■ Finance Identifying Market Opportunity ■ Leading People Problem Solving ■ Product Development Sales Strategy ■ Technical Skills

Developing Relationships •

dentifying Market Opportunity

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Skill ■ Business Development Developing Relationships Identifying Market Opportunity ■ Leading People ■ Strategy

Strategy

Developing Relationships

Identifying Market Opportunity

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

First Entrepreneurial Moment after Start of Undergrad ll e e • • .5 0 5 10 15 20 25 30 35 40 Year From Start of Undergrad

A•• Ave,age: 12.6625 A.• A.. A.• • 8 .. • 8. - 8.. • 8 .. - 8. • 8.. - 8 .. • c.. • c.. • c.. c.. c.. • C. c.. • c.. C. - c.. • 0.

.5 10 15 20 25 30 35 40 45 so Year From Start of Undergrad

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

© Ted Zoller 24 Grand Challenge 2 Given that most students will not have their first entrepreneurial breakout until well after their baccalaureate degree, how will we prepare our students and pre‐ordain the early breakouts? What other type of capstone program would you implement?

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

© Ted Zoller 26 Adams Apprenticeship Network Analysis ·• Apprentice- .... 0 a 6, centered .... 0 ...0 6. 0 0 -o -.• 6 0 :6.o Ao 0 0 -e- -6· •0•6. g . .O -0A ·O D Q 60 ... -06 ~ -6- -er ·D 0- ·• · fj-o- _..., 0 • ~ More than half of ·• the Apprentices 6. -0 -0: l\ : listed 3+ mentors ·0 u 0-

0 -o-6 -a- ·• · a

<> 0-6. ... 0- 0

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Mentor-centered G ·G-

· G- -e-

-G- -a-

-0 183 Mentors -a identified for the 77 + Apprentices -a- surveyed a- _:s------~:-

-a- -a- -0- ·- -a- -a- 6 ·•- •B- ·8--o- -a- -e------a- 6 -e- -a-

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

© Ted Zoller 28 Grand Challenge 3 How might you measure the level of engagement among your mentor or leadership networks, and what data do you need to collect to understand student professional development and progress?

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

The goal is for students to manage their careers the same way they would a start-up…

…and each educational experience serves as a competence in their development.

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

© Ted Zoller 31 Vision for The Adams Apprenticeship • Identify and recruit successful entrepreneurs from the UNC alumni and friends network and engage them in working strategically with our students; • Match serial entrepreneurs to aspiring student entrepreneurs to enhance their insight, social capital and knowledge; • Train our student entrepreneurs through strategic and purposeful interactions with facile and successful serial entrepreneurs; • Engage strategically with our most successful alumni and friends to support the learning, venture, and professional outcomes of our graduates.

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

• Accelerated career into entrepreneurship as a founder, funder or growth executive • Personal Board of Advisors • Entrepreneurial Leadership Plan • Lifelong network of Adams entrepreneurs • Demonstrated entrepreneurial outcomes within five years of graduation

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Vice President Growth Executive

Manager ~ 0 • ~ Analyst I I Other • Entry Level • MBA 0 0 .c Student V Vl Undergrad • 2002 2004 2006 2008 2010 2012 2014 2016 2018 Year

Blue highlight –first entrepreneurial moment Orange line –year of Adams Apprenticeship

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

... ---1 Founder 1

Funder Associate - • L I• .>< -_,.·····'I • 5 Growth Executive Analyst :!l: • I Senior ,.. '~ Manager ,, .· . ' a Other • Analyst - • MBA 0 - 0 .c Student V VI Undergrad -• 2006 2008 2010 2012 2014 2016 2018 Year

Blue highlight –first entrepreneurial moment Orange line –year of Adams Apprenticeship

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Other Entry Level I -• Doctorate ~ Student .x Undergrad -• 2011 2012 2013 2014 2015 2016 2017 2018 2019 Year

Blue highlight –first entrepreneurial moment Orange line –year of Adams Apprenticeship

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Founder 1 • Director • .,,_ s:l; Growth Executive Analyst - Entry Level - Other Entry Level I • 0 0 {; Student Undergrad V,

2011 2012 2013 2014 2015 2016 2017 2018 2019 Year

Blue highlight –first entrepreneurial moment Orange line –year of Adams Apprenticeship

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

2 I Founder • 1

Manager ~ 0 • ~ Growth Executive Analyst • -I Entry Level I • Other Entry Level I • Continuing 8 Education .x.c Student Undergrad - 2012 2013 2014 2015 2016 2017 2018 2019 Year

Blue highlight –first entrepreneurial moment Orange line –year of Adams Apprenticeship

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Funder Analyst

""0 Analyst ~ I - Growth Executive • Entry Level I ti 0 0 .s= Student Undergrad V V, - 2012 2013 2014 2015 2016 2017 2018 2019 Year

Blue highlight –first entrepreneurial moment Orange line –year of Adams Apprenticeship

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

Entrepreneur Name Adriel Lubarsky I l Alex Wilhelm I I Alexandra Hehlen Andrew Skinner Undergraduate Asher Lipsitz Austin Helms I .I Average: Brent Comstock - J The year they start Bryce Pitts I - J Damien Walker pursuing their Destiny Harrell Devin Hanaway undergraduate degree Edgar Walker Fletcher Cox Garrett Locklear Harrison Bard - Jack Paley I Kassra Homaifar - ■ Luke Lechner Madrid Danner-Smith ■ Orange line –year of Adams Mihir Pershad I Apprenticeship Mitch DeForest

.7 -6 .5 -4 .3 ·2 ·1 0 4 6 Year From Start of Undergraduate

LEARN LAUNCH LEAD

Entrepreneur Name Alain Glanzman I Alex Kaufman Alina Clarke I Amela Dybeli Armando Chekerdemian Belton Copp Brittany Kielhurn Cameron Braun Camille McGirt Charlotte Guice Graduate Average: Chijioge Nwogu 6.26 years after starting their Daniel Almirall Daniel Outen undergraduate degree David Ball David Mansor Harry Masters lrinie Habib Jake Petralia Jamen Miller Jared Molton Jeff Henriod

-5 0 5 10 15 Year From Start of Undergrad

LEARN LAUNCH LEAD

Funders ■ -'. '•'•'•¥.f!' ~ --- 4i7st Round MAvrncK VENTUREs SJ F INNOVATION CAP I TAL VENTURES E N D E A V O R S

Growth ExExecutivesecutives VENTURE FOR AMERICA 1 I 1 , 1 I 1 , Boaz I Allen I Hamilton 1 amazon CISCO E)f(onMobil. " ,,71 LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

© Ted Zoller 45 Grand Challenge 4 How will you commit to develop next‐ generation talent for performance over the longer course of their career, and what can you do to build a network that is both potent and catalytic?

LEARN Mythbusting: LAUNCH Entrepreneurs LEAD Genome

THE CENTER FOR ENTREPRENEURIAL STUDIES MYTHBUSTING: INSIGHTS FROM THE ENTREPRENEURS GENOME PROJECT

KENAN-FLAGLER llliUNC BUSINESS SCHOOL

Ted Zoller, PhD T.W. Lewis Distinguished Clinical Scholar and Professor And Director, UNC Entrepreneurship Center 919.201.1595 | [email protected]

“Inspiring Student Entrepreneurship through Megatrends”

Elisabeth (Beth) Struckell, PhD Clinical Professor Department of Management –Strategy & Entrepreneurship University of North Texas November 2, 2018

• • •••• ••• ~~~

49 ©Elisabeth Struckell ~ PEPSICO -f!IGIIZl!l!~~G UNI. UNIVERSllY OXASF ITJ1 NOR.TH·TE NC KENAN-l'LA ;LEI DlSCOVU TUE l'OWU OF IDEAS

Corporate Entrepreneur PhD 2018 BA History/Pre‐Law MBA ‘82‐’08 Clinical Professor 1978 1982 Entrepreneur ‘08 ‐> Strategy & Entrepreneurship

.. . \JIIOr--~~•:!~~~~\

50 ©Elisabeth Struckell Reason for not starting a business? “I don’t have an idea” :(0/

/ ""lDtA (Buchanan, 2017; Inc.com, 2017) ... ~~! •'2. • .•. • '•• . ..•. ., \JIIQ~

51 ©Elisabeth Struckell TWO PHASES OF STARTUPS

Wave 1 Wave 2 20 Somethings 40s‐50s

Comfort ~Valley ~~: ID[A ...... (Lange et al., 2014; Charney & Libecap, 2003) !..':! ~······· .• '111(1~\

52 ©Elisabeth Struckell Reason for not starting a business? “I don’t have an idea” (Buchanan, 2017; Inc.com, 2017)

Entrepreneurship Courses Encourage “Half‐Baked Ideas” (Shram, 2013; Galbraith, 2018)

... ~~! •'2. • ••. • '• •. ..•. •, \JIIQ~

53 ©Elisabeth Struckell Half‐Baked, small ideas…..

SlARTING A custoM T SHIRT BUSlNfSS "D'Y~\~ Going through the motions

54 ©Elisabeth Struckell Why are we surprised?

Entrepreneurship is a mindset…..

(Alverez, Barney, Anderson, 2013; Gruber, MacMillan, Thompson, 2012; Tang, Kacmar, Busenitz, 2012) ...... ~~\

55 ©Elisabeth Struckell Entrepreneurs develop ideas to capitalize on opportunities or to solve problems

IDfA

SOME OPPORTUNITIES ARE MULLED OVER FOR YEARS BEFORE AN ENTREPRENEUR CHOOSES TO CAPITALIZE ON IT ... !•1!~~~n;\ (Alverez, Barney, Anderson, 2013; Navis,2016) \JIIOr-- ~

56 ©Elisabeth Struckell ITERATE SOLUTIONS…..BEFORE LOCK INTO ONE…

... (Alverez, Barney, Anderson, 2013; Navis,2016) !1!~~•,ii;· '1110, ...... ~ ·

57 ©Elisabeth Struckell Why are we surprised?

70%

< 4 WEEKS DIVERSE MAJORS FORCED TEAMS (Business Plan 12 Weeks)

WE ARE DIRECTING THEM TO “GO THROUGH THE MOTIONS” ...... ~~\

58 ©Elisabeth Struckell STOP GOING THROUGH THE

•• • ~~\ ,'b/ /lf, 1DtA

59 ©Elisabeth Struckell Reason for not starting a business? “I don’t have an idea” (Buchanan, 2017; Inc.com, 2017)

Entrepreneurship Courses Encourage “Half‐Baked Ideas” (Shram, 2013; Galbraith, 2018)

Better Ideas Generate Better Learning Outcomes, Greater Entrepreneurial Intention, and an increase in Wave 1 startup activity (Piperopoulos & Dimov, 2015) ... ~~! •'2. • ••. • '• •. ..•. •, \JIIQ~

60 ©Elisabeth Struckell EXPLORING MEGATRENDS IN SEARCH OF OPPORTUNITIES

61 ©Elisabeth Struckell RIDE A WAVE TO SUCCESS ...

OR BE CRUSHED BY IT.

62 ©Elisabeth Struckell THINK OF THESE TRENDS AS WELL STOCKED PONDS TO FISH INFISH IN

. ... !1!~.·. ··· .·· · .. '1110~\

63 ©Elisabeth Struckell 8 MEGATRENDS

1. We should be able to count on strong population growth to drive economic growth for the next 35 years (+35%) 2. All of the growth in the world’s population will be in the East, which will generate a world‐ wide shift in economic growth and power from the West to the East – China, India, Africa 3. World‐wide population is aging as life‐spans increase and fertility rates plunge, challenging developed economies for survival and driving new markets that reflect the wants and needs of an aging population 4. Households are getting smaller, challenging traditional family structures and redirecting discretionary spending 5. People are flocking to cities and cities are becoming city‐states, creating exciting opportunities and challenges 6. Already scarce resources will become further challenged by demographics but innovation and a forecasted end to global population growth will help us mediate the consequences. 7. Technology will enable us to stretch scarce resources, to think vs. do, to innovate to zero, and to look younger and live longer. 8. While technology innovation is bringing bounty to all, a consequence is increasing global income, wealth and consumption inequality which could significantly impede global economic growth.

64 ©Elisabeth Struckell MEGATREND 1 Strong population growth should drive economic growth for the next 35 years MORE PEOPLE = MORE STUFF

65 ©Elisabeth Struckell MEGATREND 2 The world’s population growth will generate a shift in economic growth and power from West to East – China, India, Africa

66 ©Elisabeth Struckell MEGATREND 3 WORLD-WIDE POPULATION IS AGING: LIFESPANS INCREASE, FERTILITY RATES PLUNGE

■ 2016 ■ 2060

WORLD POPULATION OVER 6D

US Censu!! Bureau ond Notional Institute on Ag,ng '11%. TREND SURFERS

67 ©Elisabeth Struckell MEGATREND 4 Across generations, household size is shrinking, redirecting discretionary income

Millennials Gen X Boomers Me, Me, Me Divorce Empty Nesters Single Parents Surviving Spouses

68 ©Elisabeth Struckell MEGATREND 5 Population is flocking to cities…city-states. 80% of the population will live on 3% of the Earth’s land.

MOST RAPID GLOBAL TRANSFORMATION IN HISTORY

+3Billion People

69 ©Elisabeth Struckell MEGATREND 6 Already scarce resources will become further challenged by population growth and demographics.

70% more waste, 50% more energy, 40% more water, 35% more food

70 ©Elisabeth Struckell MEGATREND 7 Technology will enable us….. to stretch scarce resources, to think vs. do, to innovate to zero, to look younger, and live longer

Internet of Things Smart Everything AI & Robotics Bio Genetics

71 ©Elisabeth Struckell MEGATREND 8 Increasing global inequality in income, wealth and consumption Global Wealth HOW FAR …. HOW FAST? Concentration

70% of Pop INTHE 3% of Wealth UNITED 'f ~ ~ ~ • - l•I Eta UM,llt CAllt,l,t ..., WE'RE HERE TO GET A BIGGER LADDER

72 ©Elisabeth Struckell • •• • ..... ··•••·• •.•.•.. ~ ~

• Think beyond Denton TX and beyond the U.S. • Think big vs small • Higher engagement  • Greater learning outcomes • Stronger Entrepreneurial Intent • Wave 1 Startups+

73 ©Elisabeth Struckell . .

• Present Mega Trends (45 minute class lecture) • Vote on one trend • Size/scale ≥$10M • Pitch and Business Plan • Measure the outcomes • Grades (objective: test vs control) • Entrepreneurial intent (subjective, self‐report: pre/post –test vs control) • Learning outcomes (subjective, self‐report, test vs control) • Entrepreneurial Wave 1 startup activity (longitudinal objective: test vs control) .. . \JIIOr--v!'!! ~~~n; \

74 ©Elisabeth Struckell . ~•1:..~n,~ .. . .. · Examples: Smaller Household Size \J11ar--~·

Traftsitiofts ~~~~. Mi".- - 1-• -----= Simplified ------= ® rlghtst,e • relocate • redesign ""''"''"""" 0 ZERO WASTE

75 ©Elisabeth Struckell I will make my Mega Trend Presentation available to anyone that is interested in ow participating in the research Itor ks

.. . \JIIOr--v!'!! ~~~n; \

76 ©Elisabeth Struckell Best Practices in Developing Client-based Experiential Learning Courses

Michael Harris, Director J. Fielding Miller Distinguished Professor Miller School of Entrepreneurship -~ECU

77 © Mike Harris Value of Client-based Learning Projects

Challenge: Business schools must demonstrate engagement, innovation and impact for AACSB reviews.

Solution: Student-led consulting projects can be an effective way to demonstrate these themes, and entrepreneurship faculty often have an advantage in setting up these consulting project-based course models due to the applied nature of our programs. -~ECU

78 © Mike Harris Course Linkages at ECU

• Small Business Management* • Managing the Family Business • Entrepreneurship • Social Media Marketing & Digital Marketing • Strategic Management (section focused on small business strategy) • Hospitality Management & Engineering courses -~ECU

79 © Mike Harris Small Business Institute—SBI Model

• Started in 1974; served over 125 clients from various industry sectors since 2000

• SBI is linked with senior-level Small Business Management course (UG) • SBI teams usually consist of 4-5 students, and serve 4-6 clients per semester

• Client Referrals: SBTDC program at ECU; other regional service providers

• KEY Expectations: (1) professionalism, (2) confidentiality, and (3) teamwork (at least 100 hours per student on the project)

• KEY Outcomes: (1) clients received a detailed consulting report and professional presentation, (2) students have a highly engaged learning experience for their resume, (3) substantial community impact (ECU SBI teams provide approx. 1500 hours per semester).

*The National Small Business Institute estimates that SBI consulting projects annually impact approximately 350 businesses through the generation of more than 95,000 consulting hours from over 1700 students. -~ECU

80 © Mike Harris Key Benefits • Students - combines critical thinking, teamwork, research abilities into experiential, problem-based learning (powerful learning experiences).

• Faculty - great classroom experiences, research opportunities, and mission-driven community service/engagement.

• Institution - great link between Business Schools and regional providers, strong community relationships and alumni connections, helps with AACSB accreditation (engagement, innovation, impact).

• Business Clients - tremendous assistance at low (or no) cost, fresh perspective and cost-effective recommendations, greater chance for long-term success (end goal).

• Competitions – external events and rewards that help with program branding. -~ECU

81 © Mike Harris Best Practices for Impactful Engagement

• Ensure students are “ready” for this type of experience.

• Create a system to hold students accountable. Record time and effort each week.

• Build a coordinated referral process and resource inventory for clients.

• Develops necessary connections/alliances within the region.

• Use these courses to impact facilities requests and space allocation.

• Share impact and success stories to create win/win for all involved organizations. -~ECU

82 © Mike Harris Teaching Entrepreneurship Analytics

UNIVERSITY of Xaver Neumeyer, PhD NORTH CAROLINA Department of Management WILMINGTON 11/02/2018

Entrepreneurship lN;) ~ UNIVERSITY 0 NORTH DAKOTA UNCW

Dl\fcW UNIVERSITY of N ORTH CAROLINA W ILMINGTON

------2007 2008 2009 2010 201 1 2012 201) 201 < 2015 2016 2017 Year

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

Analytics is the use of:

• data,  Descriptive analytics • information technology, ‐ uses data to understand past and • statistical analysis, present • quantitative methods, and mathematical or  Predictive analytics computer‐based models ‐ analyzes past performance

Goal: to help managers/entrepreneurs gain  Prescriptive analytics improved insight about their business ‐ uses optimization techniques operations/emerging ventures and make better, fact‐based decisions.

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

 Management of customer relationships

 Financial and marketing activities

 Supply chain management

 Human resource planning

 Pricing decisions

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

• Most department stores clear seasonal inventory by reducing prices  When to reduce the price and by how much?

 Descriptive analytics: examine historical data for similar products (prices, units sold, advertising, …)

 Predictive analytics: predict sales based on price

 Prescriptive analytics: find the best sets of pricing and advertising to maximize sales revenue

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

Box of Variables ,------. I I : Problems/ : ‐ Profit per transaction Decisions I Analysis Insights I Questions ‐ Clicks per customer ,_I ------·I Predictive Descriptive Prescriptive

Existing databases Compiling databases Mix of both

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

Descriptive What happened?

Diagnostic Why did it happen?

Predictive How likely is x to happen?

Decision Support Prescriptive What is the optimal action? Decision Automation

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

Explore and leverage different data sources to identify and Data literacy compare ‘attractive’ opportunities Expand skillset on job‐market relevant software tools like excel, Python, R, or

Much of the data is constructed Limitations of data analytics iteratively in entrepreneurship Metrics that mattered in one industry might not be so relevant for others

Box of Variables/Metrics I I ‐ Profit per transaction Which variables/metrics are Box #2 of Variables/Metrics ‐ ClicksI per customer most relevant to what the - ‐ Revenue per customer venture will accomplish (e.g. ‐ SEO Traffic Box N of Variables/Metrics I customer retention, profit, inventory)? ‐ Revenue per customer C ‐ SEO Traffic tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

© Xaver Neumeyer 91 Applications in entrepreneurship Explore and leverage different data Opportunity recognition/assessment sources to identify and compare /creation ‘attractive’ opportunities -.. -...... -.. -.... -.. -...... -.. -.... -...... -...... -...... -.. -.... -.. -.. -...... -...... - ...... -.. -...... ------' ‐> mine data from online sources (e.g. amazon) or access ' existing databases (ebay Marketplace Research) Explore potential ‐> use descriptive analytics to look at past data (e.g. customer reviews, product ideas sales data), ‐> use predictive analytics to look at which features are more likely to be sold and at what time, and ‐> use prescriptive analytics to select a set of ‘optimal’ opportunities

Small business consulting projects Assess sales and customer data Look at temporal correlations

Better target segments

What data is missing?

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

• Learning curves with current software tools – R and Python are open source but are not very user friendly

• Integrate students with different majors

• Finding databases to train

• Find the right mix of data and business/entrepreneurship literacy

tJl\fcW UNIVERSITY of NORTH CAROLINA W ILMINGTON

NC Entrepreneurship Educator’s Conference November 2, 2018 Caroline Glackin & Steve Phelan – Fayetteville State University

94 © Steve Phelan and Caroline Glakin Purpose & Justification

. Life skills in university core curriculum (2 credit) . An introduction on how to think & act entrepreneurially . Examines how creative & innovative thinking along with initiative allow the student to see and seize opportunities . Takes the approach that everyone (not just those who want to start businesses or enterprises) can benefit from understanding & applying an entrepreneurial mindset to any situation that demands change in their lives.

95 © Steve Phelan and Caroline Glakin Curriculum

. Based on 13 Core Competencies of Entrepreneurs identified by Michael Morris & his colleagues (2013): . Opportunity recognition . Creative problem solving/Imaginativeness . Conveying a compelling vision . Opportunity assessment . Self-efficacy . Tenacity/Perseverance . Resource leveraging . Value creation . Risk management/Mitigation . Building and using networks . Maintain focus yet adapt . Guerrilla skills . Resilience

This Photo by Unknown Author is licensed under CC BY-SA-NC

96 © Steve Phelan and Caroline Glakin Pedagogy

. Minimum of 50% of class in experiential exercises . Connecting the Dots – ideation & assessment . Speed Networking . Exercise in Ridiculousity . Scavenger Hunt – Resources . Elevator Pitch . Written reflection paper . Written examination . Guest speakers

97 © Steve Phelan and Caroline Glakin Assessment – Quasi-Experimental . Administered Morris Competency Instrument to students in Entrepreneurial Thinking & Financial Literacy . Pre & post tests – 3 different semesters, matched students in last 2 semesters . Results: . 7 of 13 scales did not meet minimum reliability standard (alpha=0.7) . Five competencies were significant in first semester . Only two competencies increased for ENTR students in both matched semesters (opportunity recognition, creative problem solving) . ‘Guerilla skills’ also significant but problematic . Not the same competencies as first semester

98 © Steve Phelan and Caroline Glakin Observations/Considerations . Self reported competence just the start…

Improve Increase Definition Measurement Acquisition Retention Application Startup Startups Success

. …but even that is problematic . Measurement issues . Sample issues . Curriculum issues . Next directions . Revise curriculum, . Standardize instructor training, . Fix measurement scale . Keep matched pairs . Accumulate evidence-based knowledge

99 © Steve Phelan and Caroline Glakin THANK YOU!

Caroline Glackin – [email protected] Steve Phelan – [email protected]

100 © Steve Phelan and Caroline Glakin NCEEC 2018 Download this deck Wilmington, NC at bit.ly/pv-nceec

ENTREPRENEURIAL STRATEGY How to Think Like a Venture Capitalist

Potential New Elective for Your Entrepreneurship Major or Minor

mtUNC

KENAN-FLAGLER BUSINESS SCHOOL Patrick Vernon UNC-Chapel Hill Kenan-Flagler Business School www.vcrazor.com [email protected] 1

101 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Why even teach venture capital?

It’s too inaccessible, right? There are no jobs. None of my students will be venture capitalists. None of my students will ever raise venture capital.

102 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL What Are We Teaching?

Specific Entrepreneurial -- Skills

“Mindset”

103 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Who Are We Teaching?

“Hellbent” (on becoming a founder now)

“Some Day” (tech/startup enthusiasts)

Opportunists

104 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL What Might They Become?

Future Investors (angels, VCs or other)

Future Entrepreneurs

Businesspeople Immersed in Tech 5

105 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL

My approach to teaching opportunistic skills and mindset…

…how to think like a VC.

106 © Patrick Vernon Introduction ...... 1 VC Strategy: PART I: BACKGROUND ...... 9 A. VC Industry ...... 9 How to Think Like a VC 1. A Brief History ...... 9 2. What is Venture Capital? ...... 19 B. VC Job Cycle ...... 35 3. Fundraise ...... 35 4. Invest ...... 51 5. Grow ...... 71 6. Exit ...... 91 PART II: PRACTICE ...... 103 Intro VC Razor ...... 104 A. Product/ M arket Fit ...... 115 1. Value Proposition ...... 117 2. Market Size ...... 135 3. Traction ...... 148 B. Founder/ Industry Fit ...... 163 4. Team ...... 165 5. Secret Sauce ...... 181 6. Business M odel ...... 203 C. Fund Fit...... 227 7. Growth Milestones ...... 229 8. Exit Strategy ...... 247 9. Return Analysis...... 258 HOW TO THINK LIKE A VENTURE CAPITALI~T PATRICK VERNON 7

107 © Patrick Vernon VC Strategy: How to Think Like a VC

VC RAZOR DUE DILIGENCE FRAMEWORK

PRODUCT/MARKET FIT FOUNDER/INDUSTRY FIT 1. Value Proposition 4. Team 2. Market Size 5. Secret Sauce Startup 3. Traction 6. Business Model

HOW TO THINK LIKE A VENTURE CAPITALI~T PATRICK VERNON 8

108 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Framework to Assess Any Opportunity

109 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH O OL

By going through the due diligence process with real startups today, students will learn how to perform due diligence on their own startup ideas tomorrow.

GNIP VC RAZOR DUE DILIGENCE FRAMEWORK Gist cx:o isocl

~ UnkSmart V 2. Market Size 5. Secret Sauce lflDUlflll ll l ~ Startup - I 3. Traction 6. Business Model

memeo mobiday

• 10

110 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Lean + Razor

Product/Market Fit

Founder/Industry Fit

Product/Market Fit Fund Fit

111 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL VC Strategy: Guiding Principles (]_==-_Strategy--==-==-I Focus ~ ~--r7'\ Keep it Real====I Role-Playing 12

112 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL

Strategyvu aL~YY Focusedruc.;u!S~u

VC RAZOR DUE lJILIGENCE FRAMEWORK Not Finance PRODUCT/MARKET FIT FOUNDER/INDUSTRY FIT 1. Value Proposition 4. Team 2. Market Size 5. Secret Sauce Startup 3. Traction 6. Business Model

Pre-..\. Se,; es A (Prefene Total Post.-\ Series B (Prefen Sb..'lres Sb.,r es luvestmeut Shares % Ya lue Shares InYes t

aa~ .. .a...u.... n ..a...£.O Series A 1.000.000 S 1.000.000 1.000.000 33.3°~ S1.000.000 Series B 2.000.000 S 4.00 cmDIO:'< Founder;:: I 1.000.000 1.000.000 33.3% S1.000.000 Founder F2 1.000.000 1.000.000 33.3% S1.000.000 Total 2,000,000 1,000,000 Sl ,000,000 3,000,000 100% S3,000,000 2,000,000 S4,00

P1·e-:\Iouey: S2,000,000 Post-:\louey ~ Pre-:\loney: S6,000 Sei-ies A Share Price : S1.00 B Share Price: S132.

113 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Keeping it Real Daily Discussion Live Case Studies • Dan Primack’s Pro Rata • “The Pitch” Podcast • Crunchbase • Local accelerators • Any accelerator website

114 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Role-Playing Capstone

• Recruit local startup • Distribute pitch deck a week in advance • Facilitate prep discussion • Bring in real founder to pitch to class • Focus on Q&A (due diligence) • Students assess opportunity w/Razor framework

115 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Available Course Materials

• VC Strategy textbook • Syllabus • Online real startup cases •Exams • Assignment templates • Lecture PPTs

[email protected]

116 © Patrick Vernon UNC Questions? Download this deck KENAN-FLAGLER at bit.ly/pv-nceec BUSINESS SCH OOL

ENTREPRENEURIAL STRATEGY How to Think Like a Venture Capitalist

Potential New Elective for Your Entrepreneurship Major or Minor

mtUNC

KENAN-FLAGLER BUSINESS SCHOOL Patrick Vernon UNC Kenan-Flagler

www.vcrazor.com [email protected] 17

117 © Patrick Vernon UNC KENAN- FLAGLER BUSI NESS SCH OOL

Appendices •VCIC • Entrepreneurship Electives • VC Job Cycle For Slide Deck: • Fundraising and Investing • Growing and Exiting email [email protected] • Value Network or go to bit.ly/pv-nceec • Product/Market Fit • Founder/Industry Fit • Fund Fit • About the Author

118 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL How Does Your School Teach VC?

Is it a topic of finance? Or strategy? Or both?

119 © Patrick Vernon a ~1""'4 Babson Cranfield (UK) ~ > Dartmouth "'ESADE (SP) Q ~ Harvard ~ ,.. SDA Boeeoni (IT) m~ MIT lj;~ IESE(SP) ~ ~ Rochester ~ ~ WHU Otto (GER) zof TBD ffii LBS(UK) at BOSTON UNIV at IESE

~co Arizona ~ Cass(UK) > Arizona State < 0 00 Copcnhag_C!!!TK) ~ :0 Bri_gham Young CHAPEL HILL, NC Z Im 'a) (UK ::, ~ Chicago AP RI L 1 2-13, 20 1 9 lj;~ rnrem(FR o..o Denver ~ :;; Manchester (UK) ::; of Washington ii'illJNC KENAN-FLAGLER ffi ::! Oxford (UK) at COLORADO JWl BUSINESS SCHOOL at CRANFIEID

:I: 00 Georgia Tech .JI/) Emory t;j.,, Berkeley ;:J FMS Delhi t Minnesota <,.. Indiana .i; '" Santa Clara < .; IIM Ahmedabad HOST SCHOOLS I- IV Notre Dame ~ i!' Kellogg 8 i!' UC Davis _ ..o IIM Bapgalore SUP.ER REGION ::, E Ohio State z :l: Michigan f- :l: UCLA a E IIM Calcutta >' LLJ N Boston Unh·. 0~ Purdue u, .l; Vanderbilt ~ USP 1l !IM Lucknow u.f \~lliv. iJ SDSU z <> !SB Hydef'!bad ~ N Colorado'!' "'"- SMU ~ "- - o !SB Mohal, Johns Hopkins RICE TEXAS < 1:';' at at at U S C at IIM-Bangalore > n, Ricel' Z ::, Sl\lU Sobev U! 00 American ti; ~ ~M:,11:n < Dalhousie ~ ~ 8~ Tei:as ~ > Georgetown ~ > Colwnb,a a 00 Ivey ~ N CEIBS(CH) :; Maryland :i:: :; Cornell < .<: Laval v,"" NTU S ~~ ~!~ < :, V~lanova f- :, Duke z ~ Lazaridis < u NUS S @ oli Virginia ~li NYU <,. NcwBnnsn;ck ~ Pua,, ~ Hosted by UNC !:e of Wharton z of UN C u ::! Toronto ~ i ~asin •(CH) KENAN-FLAGLER at .J(ENSHCl'KINS at YALE at SMU Sobey at NT g

120 © Patrick Vernon 0 VENTURE ~ ~1""'4 Babson CAP ITAL !'.) Cranfield (UK) 5 > Dartmouth INVESTMENT "'ESADE (SP) t., ~ Harvard COMPETITION ~ ~ '"' SDA Boceoni (IT) ~ ~ MJT ~..c IESE (SP) 25 ~ Rochester .a v, ~ ~ WHU Otto (GER) zof TBD ffii LBS(UK) at BOSTON UNIV at IESE GLOBAL FINALS ~o:i Arizona < > Arizona State 'z ; Bri_gham Young CHAPEL HILL, NC => ~ Chicago A PR I L 1 2-13, 2 01 9 undergraduate o..o Denver <{ CIO Asper . ::;: of Washington ii'ltlJNC KENAN-FLAGLER ~~ ~~ VENTURE o Concordia at COLORADO J.Wl BUSINESS SCHOOL ~ ~ Georgetown CAPITAL < 2 Maryland INVESTMENT ~~ ~::n~,Kk o..o UNC VCICI COMPETITION :I: CIO Georgia Tech ~ Ill Emory t;j Ill Berkeley :::J PMS Delh <"' St.PX ::,' ~ Virginia t Minnesota < '"' Indiana Georgetown ~ > Columbia O CIO Ivey z~ SMUSobey U ::; Notre Dame ; Maryland :i:: ; Cornell < ..c Laval at BOSTON U. ii'lllJNC I KENAN-FLAGLER !WI, BUSINESS SCHOOL at MIAMI (OH) < ~ Vill~?va I- ~ Duke z :'. Lazaridis 6..o Vu-guua ~..o NYU <"' Ncwllnns\,;clc ::,' of Wharton z of UN C u::; Toronto ~ m Berkeley Boston U. at ]OHNSHCl'l ~ Santa Clara New Regions :I: ..c Ohio St. ::: UNLV Coming ~:: Pitt 8.l; UCLA O ca Princeton ~ ~ US Air Force Soon! Z::; Wharton byUNC a1Googlel-l)_ at NYU 21

121 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL What electives does your program have?

• Entrepreneurship 101 • Corporate Entrepreneurship • Business Planning • Entrepreneurial Finance • The Entrepreneurial Mindset • PE/VC • Design Thinking • Social Entrepreneurship • Innovation • Entrepreneurial Consulting • Entrepreneurial Strategy? • Entrepreneurial Marketing

122 © Patrick Vernon EU '~~LER BUSI NESS SCH OOL

Fundraise VC Exit JOB Invest CYCLE Grow

123 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Fundraise Invest

• Fundraising Strategy • Deal Flow Fundraise • Syndicate Partners ..,I • Capital Calls I • Accelerators Invest I I • 10‐year Fund Life • I Due Diligence I • VC Exit ..,I Early Peek at Return • Term Sheet I JOB Potential • Investment Size ~ Grow ij l • Option Pools \ YCLE I • Multiple Funds ' C , • Pre‐ and Post‐Money '---◄------◄---~~ • Funds Trends • Cap Table • Fee Structure • Milestones • Corporate VC • Valuations 24

124 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL Grow Exit

., ---- ►------► - .... • Working the • Acquisitions ( ~Fundraise ~ '\ Portfolio I --;~~~~~~~-~ I • VC & M&A • Follow‐On Rounds t ~ Invest r • IPO I • Reserve Capital I VC Exit I • Tranching • Return the Fund • Dilution JOB I • Backwards VC ' ====Grow rI I • Pro Rata \ CYCLE """"""""""""""""""~ ' Math ' , • Up and Down '---◄------◄---~~ • Rounds Walking Dead • Options Pools

125 © Patrick Vernon VC Strategy: How to Think Like a VC Part I

VC RAZOR DUE DILIGENCE FRAMEWORK

PRODUCT/MARKET FIT FOUNDER/INDUSTRY FIT 1. Value Proposition 4. Team 2. Market Size 5. Secret Sauce Startup Part II 3. Traction 6. Business Model

HOW TO THINK LIKE A VENTURE CAPITALI~T PATRICK VERNON 26

126 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL

STARTUP VALUE NETWORK M ARKET STARTUP INDUSTRY

CustomersProduct / Founders Competitors Investors F UND

127 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL

VC RAZOR D UE D ILIGENCE F RAMEWORK Product/Market Fit Founder/Industry Fit

Fund Fit INVESTORS

128 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL

VC RAZOR G O /NO -GO F RAMEWORK

CREATE VALUE? ANY SUSTAIN? PROJECT

HAPPINESS?

129 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL

VC RAZOR D UE D ILIGENCE F RAMEWORK

PRODUCT/MARKET FIT FOUNDER/INDUSTRY FIT 1. Value Proposition 4. Team 2. Market Size 5. Secret Sauce 3. Traction Startup 6. Business Model

FUND FIT 7. Growth Milestones 8. Exit Strategy 9. Return Analysis 30

130 © Patrick Vernon 1. Value Proposition

KENAN-F 2. Market Size BUSINES Product/Market Fit 3. Traction

Value Proposition Market Size Traction • Idea to Value Creation  Total Addressable  Paying Customers • Customer Pain Market (TAM) (and everything about them) • Segmentation  Founder Credibility  Engagement Metrics • Better/Faster/Cheaper  Competitors’ Sales  Letters of Intent (LOIs) • (Early) Competition  Cost Savings  Inferior Competition • Incremental vs. Disruptive  Macro Market Data • Platform vs. Focus  Market Trends  Seed Investors • Push vs. Pull  Niche, Platform and  Industry Validation • B2B Value Creation Future Markets • High Concept Pitch • Getting Granular 31

131 © Patrick Vernon 4. Team Founder/Industry Fit 5. Secret Sauce 6. Business Model

Team Secret Sauce Business Model  Serial Entrepreneurs  Macro: Comp. Landscape  Defining “Business  Industry Expertise  Micro: Key Players Model”  Vision, Coachability  Growth and  Barriers to Entry and Customer Passion Profitability  Origin Story  First‐Mover Opportunity  Path to Exit  Skin in the Game  Network Effect  Barriers to Scalability  Founder/Investor  Sticky Products  Scalability and P/M Fit Conflict  Trade Secrets  CAC & LTV  Replacing the CEO  Strategic Partnerships  Products vs. Services  Holes on the Team  Margins  Intellectual Property  Advisory Board  Revenue Model 32

132 © Patrick Vernon 7. Growth Milestones Fund Fit 8. Exit Strategy 9. Return Analysis

Growth Milestones ExitFund Strategy Fit Return Analysis  Milestones and Risk  Start with the Exit  VC Math 101  Use of Funds  Beach House Example  Shark Math  Hit Movie Example  Breaking it Down  Building Equity  Return Analysis  Seed Round  Airbnb Example  Total Investment   Series A, B & C Negotiated and Time  Proceeds from Exit Limited  Fund Fit Alert!  Exit Valuation  Seed Stage Valuations  To the Exit  Convertible Notes  Comps, Multiples and  Rules of Thumb  Series A Norms DCF  Adding the Option  Dilution and Pro Rata Pool 33

133 © Patrick Vernon UNC KENAN-FLAGLER BUSINESS SCH OOL About the Author Patrick Vernon • UNC Kenan-Flagler Business School • Clinical (Teaching) Faculty since 2008 • Teaching VC/Startup classes since 2006 • Directing VCIC since 2003

• “Reformed artistic entrepreneur” www.vcrazor.com

®UNC ~:~~,U/L INVESTMENT KENAN-FLAGLER COMPETITION Vele 34 BUSINESS SCHOOL

134 © Patrick Vernon Social & Sustainable Entrepreneurship Panel

NORTH CAROLINA EDUCATORS NOVEMBER 1, 2018

Dr. Patrick Vernon, UNC Chapel Hill Dr. Debbi D. Brock, Wingate University Steve Woodsmall, Brevard College Edelmira Segovia & Jacqueline Benitez‐Galbraith, UNVW

The Synergistic Affects of Sharing Teaching Pedagogy Research

DR. DEBBI D. BROCK WINGATE UNIVERSITY

Social Mission

Social Impact Innovative Solutions SE

Sustainable Business Social Model Entrepreneurs

Brock & Steiner, 2010

VENTURE MISSION

ECONOMIC SOCIAL

ECONOMIC Traditional Social Ventures (Social Entrepreneurship)

MARKET IMPACT

Socially Enterprising SOCIAL Responsible Nonprofits (corporate (charities and NGOs) social responsibility)

■ = Hybrids Exist Neck, H. M., Brush, C., and Allen, E. (2009) The landscape of social entrepreneurship. Business Horizons, 52: 13‐19.

www.huskpower.com

Impact: 200,000 people served, 84 plants in 350 villages, reaching 400 people each and employing 350 villagers. Power systems profitable in six months, breakeven in 2.5 yrs.

Economic Equity Environment (Profit) ~ (People) ~ (Planet) Provide Jobs Pay Fair Wages Conserve Natural Resources

Produce Goods & Services Provide Benefits Reduce Waste

Provide a Return on Practice Non-Discrimination Conserve Non-Renewable Investment/ R on Assets in Hiring and Promotion Resources

Engage in Corporate Social Adopt Family-Friendly Adopt Green Purchasing & Marketing (Changing Policies / Improved Quality of Investment Policies Behavior) Life

Offer Employee Ownership Promote Healthy Work Design Ecological Systems Options Environment

Invest in Good Causes Promote Biodiversity (Corporate Philanthropy) Consider Future Generations

Elkington, J. (1998). Cannibals with forks: The triple bottom line of 21st century business. Gabriola Island, BC: New Society Publishers.

• What are specific social problem to solve? • Does the solution fit with your social mission? • Who will benefit from solutions? • Do the beneficiaries want our assistance? • How will we fund the social venture? • What kind of business model should we create? • How will you measure social outcomes?

R.S. D'INTINO, ROWAN UNIVERSITY

www.socialchangeinnovators.com

Social tntrepreneurs dnve soclal mnovatton and transformation in vanous fields 1nclud 09 tducauon, heahh, environment and enttrpnse dtve-fopmtnt Thtst innovators pursue poverty all~~11on goals with entrepre~rial zeal. unique bus ness models and have t~ coura~ to innovate and ove-rcome ttadn1onal pracuces A social tntrepre-neur, similar to a business entreprene-ur, builds sustainable oroamzauons, which can be for-profit. nonoovemmental oroamzauons, or hybrid or9aruzat1ons This module provtdes an 1ntroducuon to social entreprentursh1p .

Presentations

History of Social Social Upload Entrepreneurship Entrepreneurship: ' What Everyone . your own Dr Arna Needs to Know Krz,m,nska . file Susan Dav,s and Dr Dobb D Brock •

Articles

Process for breakthrough innovations:

Result in a world-class quality product or service. Achieve a significant price reduction. Be scalable. Universal access. Affordable at the bottom of the economic pyramid.

Grameen Dannone

C. K. Prahalad (2007). The Innovation Sandbox, Strategy + Business, special issue.

IMPLEMENTATION SOCIAL VALUE PROPOSITION 0 • g,..,u rART' IRS E!I OIUVUtY 111't,...~t'1"1fU- .....k.!~·-t"l,eo10ol~" ~4 ...,ffi"a(';"..... 1..,.,.,,.....,.,.~~ ...... , Partners Delivery Difference Making Customer Macro Segments Economic Environment • a SAUi ~ 1.V.tKfT •,C \11•4,. ,~ :w .., "4 ...... ,.u-; ,u.. • Competitors tlNOJ,-N•f..Ntlr~c ··-.. ~\~ Sales & Marketing Social Impact

• COH 0# PlllvlA~ • ~U~Ptm Revenue ,~~"'•''ft ...... "" .. Surplus 29 Cost of Delivery

I. Executive Summary A. Management Team Infrastructure Value Proposition: Provide a summary Who will serve the beneficiaries? of the key elements in the plan. B. Social Business Opportunity How does your organization create value? II. Theory of Change Value Proposition: End impact your C. Service Beneficiaries Value Creation and organization seeks to achieve? Marketing Plan Who are the beneficiaries and how to reach III. Sustainable Social Venture B- them? Model D. The Infrastructure Plan Value Proposition : How does your How can we do what we do better? organization create value? E. Building a Sustainable Financial Plan IV. Social Impact Plan How do we make money/breakeven? 18 Value Added: How much social value DEBBI D. BROCK & SUSAN F. Galvanizing ResourceSTEINER, Model 2009 can your organization create? How do we do more with less?

Social So Resources Activities Outputs Value Imp

• Financial • Vision/Mission • Evidence of Outcomes: • Decrease List Activities to •Start People/Social with Resources • Social Business Achievement Results• ExpectedImproved Outcomesincarceration Achieved Long Ter Capital Plan Accomplish• XX students attendance, • Increase income • Physical/Sources • Implementation educated behavior • Increase • Technological Plan • XX graduates • Improved education • Political Capital scores, • Decrease in graduation government • Gainful assistance Employment

11 The Theory of Change model was inspired by Carol Weiss (1972) when she researched small steps lead to long term goal attainment. For more information on the theory of change, go to www.theoryofchange.org

© Debbi Brock 148 8/G!) IULLDDGS 4 IIID/5DIU .., UEEN Course Models • Students can complete an actual Social Change project on an issue that interests Project them in relation to social entrepreneurship. Social • Individuals, who plan to start a ~ social venture, should write a EE Business Plan social change business plan. emerging • Students can consult with a social consulting Social Change change organization in the Consulting community or abroad to develop and/or implement a project. • Students work with local International entrepreneurs in an economically Immersion distressed area of the world.

@ 2018 Debbi D. Brock

People Using Business as a Force for Good Compete to be Best for the World

700 Environmental ~•I1:;m;;

7,000

~i•IG A Global Community 2,655 Companies 150 Industries 60 Countries 1 Unifying Goal

One Question

NGO/NONPROFIT FOR PROFIT Donations Self Funding Fundraisers – events Family and Friends Grants – government or Debt – bank loans foundation grants Equity – investors, typically In-Kind Resources angels Corporate Donations Crowdsourcing Earned Income – Key to social ventures Some Grants

@ 2018 Debbi D. Brock

www.apopo.org/

Impact: Hidden land mind reduction by 105,024, 21 million land released to local communities, 914,452 people impacted. 18

© Debbi Brock 152 Whatever you want to do or dream you can do, the hardest part is making a beginning. Once you take that first step in following your heart, the rest will follow naturally...and lead to who knows where." ‐ Jeffrey Sachs, the End of Poverty

Jacqueline Benitez‐Galbraith UNCW Department of World Languages and Culture

North Carolina Entrepreneurship Educators Conference, 2018

154 © Edelmira Segovia and Jacqueline Benitez‐Galbraith Why the Hispanic Community? • Research on Hispanic Entrepreneurs • Educational Programs Targeted Toward Hispanics • Economic Development Assistance • Integrationntegration and Diversity Programs

>35,000 Hispanic owned businesses in NC >10% annual growth rate of Hispanic business

155 © Edelmira Segovia and Jacqueline Benitez‐Galbraith •The Problem? –Trust

•The Solution? –Strategic Bridge Building

4 Foundational Recommendations for Faculty

156 © Edelmira Segovia and Jacqueline Benitez‐Galbraith Foundation 1 ‐ Work with Hispanic Organizations to Gain Entry

Type 1: Professional Hispanic Groups (Bridge to professional level Hispanics) • NC Society of Hispanic Professionals (NCSHP), Latin American Chamber of Commerce in Charlotte (LACCC), NC Hispanic Chamber of Commerce (NCHCC) Type 2: Grass Root Non‐Profits (Bridge to local population, working and migrants)

• Centro Latino, Amigos Internacional Type 3: Campus Multicultural Organizations, Affinity Groups, Departments and Student Organizations (Bridge to Hispanic Students)

• UNCW Centro Hispano, Spanish Departments, International Faculty and Staff Associations Type 4: Church Organizations (Bridge to local population, working class and migrant labor) • Catholic Charities, Spanish language Churches

157 © Edelmira Segovia and Jacqueline Benitez‐Galbraith Foundation 2 –Use Hispanic Co‐authors and Colleagues-

THE EMBRYONIC DEVELOPMENT OF AN ETHNIC NEIGHBORHOOD: A LONGITUDCNAL CASE STUDY OF ENTREPRENEURIAL ACTIVITY

Craig S. Galbraith. Curt H. Stiles and Jacqueline Benite.t-Bcnheau

INTRODUCTION

Eac~ de,"Clopmcal is • comrnc- cbcmc ~ au::b of 1be lboqht rcpnlillla dtwc ~ Md ptrticv.Jarly bdll.-,or _.,.. ~ lllllllipanu. HlilMCally. ettmic eacl...a ~ • hlo nc Cffl&III---,, cbwactenMa (Ponft. 1998, Pond & Bach. \\'aldiqcr,ct.i., 1990)...:h1tro-«lwcJ9lllal~or aco-cdla.ic.xial-.:laupport~1co-dhlkc,pWINIU1..•laull .-I.ti tndqscnicftRC~-1- D)'er.t. ROM,, 2000),, -S ~ ol ~prdeftOCfl-,,ptnODIUudt,rrV'1Ce1(~1,-hlen,c.&R 199]) Cl,nnldt,c,oryMIJldUlltMlllpll"llll~~-0 cct..c ~ ahu ca tab advaallFoflhe mar\ce a.dtoesal ~ offered by • CIUlbbibed es'-'~ •kunatdy R.'dunq lhe - ~ t'Gll5 IWOallt'd .,di di-, mlnl-dC~'C tAwaas (Knacl & Kee.fa-, 1997). Al Lishl ( 1991) IIJVd,. lhc key COMttt.- bn• ttG totaal apW ad ecllMc ~pbcbedlkiail.-ot,t1w,rw-,us110RipponlhccmitlOII ..t IWYlval of bus,.lld,kt hi lhe coaDIINI)' 'Wl11le MlfflC ~ o( ...... ,_..,.....__.. ... ,,__ ...... a-:ti .. .., ...... ~,,.._."-~•n o ...... ,..=---u,. ISS.~, ll'l... 7fft.lM:lt.ltl61Slft.._11'rn;U~ "

158 © Edelmira Segovia and Jacqueline Benitez‐Galbraith Foundation 3 –Use some Spanish in Communications (even if target population understands English) Figure 3.4 Primary Language (%)

• Spanish dominart Bilingual ■ English dominart

All Hispanics - 38

Hispanics by generation

First

Second

Third and higher

Notes N=l,220. language dominance is a composite measure bued on self described assessments of speaking and reading abilities. '"Spanish·dominant• persons ue more proficient in Spanish than in English. 1.e .. they speak and read Spanish '"very well• or •pretty ·h·ell• but rate their ability to speak and read English lower. • silinguar refers to persons who are proficient in both English and Spanish. • english·dominant• persons ue more proficient in English than in Spanish. Source PeN Hispanic Center, 2011 National Survey of Latinos PE W RESEARCH CENTER

159 © Edelmira Segovia and Jacqueline Benitez‐Galbraith Foundation 4 –Show Cultural Literacy

• Show that you respect their culture and them personally • Don’t speak “Over their head” in surveys and conversation • Don’t talk Politics • Don’t overdo “political correctness” (e.g., asking people if they want to be called Hispanics, Latinos –call them by their name) • Understand that Hispanic Communities are different • Mexican v. Guatemalan v. Honduran • Indigenous, rural populations (small groups) v. General population • Above All – build a relationship with the bridge builders

9% of NC residents are Hispanic or Latino Individuals of Hispanic or Latinoorigin as a percentage of total population,per county, 2016

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172 “How to reach across the campus with entrepreneurship”: The order is taller than that

'!lestern Y~rolina

©Bob Lahm 173 2nd Annual North Carolina Entrepreneurship Educators Conference (NCEEC)

“Rocket Presentation”

Attribution for photo used under CC0 License: Retrieved October 26, 2018, from https://www.pexels.com/photo/flight-sky-earth-space-2159/

©Bob Lahm 174 INTEGRATION ACROSS THE CAMPUS? The obvious perspective:

• Collaboration between business faculty and those who are associated with other disciplines is one possibility.

• Common collaborations abound between honors colleges, engineering, and arts faculty.

• Social entrepreneurship courses can appeal to students in numerous majors, often giving administrators success stories to promote in highlighting institutional engagement.

• Other potential relationships, perhaps not as visible – like those with a business library liaison – can also be cultivated.

©Bob Lahm 175 How I came to think the way I do about:

INTEGRATION ACROSS THE CAMPUS

My perspective: My own career has touched many disciplines.

©Bob Lahm 176 I moved on to other things, including, “making a go of it,” starting a commercial photography business.

ff,

t Lahm & Associates vo.Ml""""-C,s P.O BOX 498 • NEW PROVIDENCE, N.J. 07974 • (201) 464"'6921

©Bob Lahm 177 I became an Account Executive at an advertising agency (specializing in high-technology clients).

AIATAOH BEL FUSE ,_ CA.Bl.EWAVE SYSTEMS --" Antenna. and Coaxial CatNt CALCULAGRAPH Teloo~MCOPfOdUctl CfT-ALCATEL C),g,talSIIMdWlge~ CORNELL OUBIUER ~-~~.Fifi.,. CRAMER Titner., MCltOrS CP NATIONAL T-.ma~ScftwarelSystema CARO DATATEK ~ fQuipment .,:'u !... ELECTRONIC MEASUREMENTS Pow., ~ FEDERAL PACIFIC ELECTRIC ,- - FREQUENCY CONTROL PAOoucTS FiOe, ()pt,c s,..,l!Chet IWATSU INSTRUMENTS KDf ELECTRONICS ,.,~~ts MARCONI INSTRUMENTS T~"" Equ11>men1 NORTON PWloonanc• Plasuc:1 PRACTICAL AUTOMATfON SANGAMO E.-gy~Proouc;u: VEANITRON M«IM:,,i PrOdUcl1 WARREN COMMUNICATfONS n..,l'l'IOStata, AHow ~

©Bob Lahm 178 A big move…

I returned to the South, and became Market Research Director For the Birmingham News.

©Bob Lahm 179 ·' '·'<>OOo ' OOo 19, ~ ','," ', 0 6-i 0011 ~,

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©Bob Lahm 180 ©Bob Lahm 181 A Bigger Move…

I started my own marketing firm.

©Bob Lahm 182 = - --- -..-....-...-..-.---- ..... = __------...... ,....._.._,...._ ___ ------=- ---======---======__------_.._------==1=''='~-=------= ='='--

©Bob Lahm 183 Promoting a city

©Bob Lahm 184 An'lttk~ Ad•Mloslng rffltratoon 71h "IA'i:P SOu1h Oisltk:I Grabbing Power Was Never So Easy... I in t Publishing Is All 'lou ' ttd

Officers Proposed v For Coming Year Theri,oml '-ll '-"' ,;1)111lffl:ltf'f' ho l')lll IOl\,·ud 1Mlo'io,..11~i!..1, o4 ollkcU tor lheilhi:Ml nNf,-,, 1~· r_.rnor.T-1P..ckttSt""1 GO\~m or.£Jo«:AJ.<,1 !.M·.. n~ 1.LC'...,.·♦n•,.,., L~ CtlM:<'- Cl\wlk \\WC,,,.,, c~.w.olct ~uiry. t.,l>d,i.),.... 11.:t· 1 T,_...,.., t ..),,.; ~ HWo11u· U1rrylio.le' 1-..11.ot~ p...iC.,,,.: St~-=Nc->lldd Sl&~l>ln.'<"-"11: Alal>waa: CN'~ lf)11oo(\loJlJI,,); A 1 '"" limited Cdition Poste~ s,.a,,,.,.,. K..,~(l... ,h~) c~0or, r 1n-(Cot.o.,ott;a) ·•• Y.'otM(Mh-1 ✓ -- ~ ... _,t,, ..,.., ...... , 1_...... •Klr,cl.oCkero(&ton~\. D:e:iK«>l""'•('lol-,.(""""-"l Mi.""""ffl,l'.,.,iGr1r.C.,r~rt~ M,ttlnppl):T.a,B,,vtwr{Mr,.,;o• 1) ---- C;,11 Toda)' T~a•- G~, Will.ami (Mcrr,pt,11) 0kt ~'.f'll(h,;o,u,,rl (._,.,,MJl,e) Birmingham Inducts 500th Member ottlrf',._...,111 nlfid-"'lybccl«lf.-d at IUm1lngtvltn Is lh(' Hnt club U, U,c 'iU, DIIArict, aPd only the 17th In tht ,/ i .. ~.. ' ' -·- ...... _. __...... ,_..., en1\re U-'li~ t<'I rNri• 11,., SQO.ni,;:• •""'' ,nlk.-.tooM:. IJlrmlnjl)\am •dd•d 32: - tlltl>ul~ll1f"f'fl"!follh,(ll,trk.1. whlch .,,111 hf-lM'Mm...__O.~,s ne,.· rnemhM• w Iii,;: ,.,..,ic , durtllj ltt annual 1prln1l ru•l:lenhlpdri~•, . II•~ 1,~I::..~"'"'':-=:... ,•• , ,~;;: Apr1120 lru.1.\llatlQfl -.1.lt..W:1,110.<.:c M"lnglng t !M. pr~•t nu,ub,..-r vr ui,;:a1bcn lu SO'J. l'realdt nl C-.mlr n ,.,.,.,h Retrospect ;,nd roresight :a1 1he(imffl't(ll'•:1,R.lll/\pn l ?I fl'1'~1f'd .-sla uNI a n~ rl"IIIIK4 "Blnalnaham" p rtnt 10 tht. 500th inemMr, Ralpll Slt•·cnt of Mut~au lkwiS:n & i.:oon munk:al lon. Tht P""""nt,otion ,.,- ... '"" 'Incredible' ADDYs WM INldP Man;;t, 17. ,/ 1,,-: .... ,...... '"' Earn Honors New Orleans Heating Up For Convention ;:c:':~:i:~;;~~~:~~~i='.~--1 ,\DJ)V ('hairm.:m horc Dvtm,1•,...,:Skl rv I .._,,.. I ol l~1on Roug;; , i:..,...rlslh.it 1htre l.v:,t;a:tin,1 (',.llJlc)' t·oumlt r lll ;04_1 YH. l he l lh 1)1\lnl'I C'nmtrtK\ll n 1 ,., I W,l~ ll lft!'fll(.,MJouS response 10 l he New OrtHnK p rNTilst-S to be;, te;).$1 83:1•:l76'1 Aavt Ma.rct\J.i lhl'<"Oil!I Call for [.r,t,i<,..,, lhl~ )Car. loJ1'rl.-gls1ratloon Lst27i. nr.lfy<>t• : l,.. .,.,. : ol l(kU. lnlClmVllion, ard inc;rtd I Ma,.... I ""Tlu, ,_.uahty wu u1eredlbk-." Ja}~ lhlt lnntl II h;l.) ;i,11 1111.' 111·~1cdk:nts. can"t mat t 1t1ev..1lolf-«M1, ,...,h n,, J.xc ol lli,;: '>60tulnH In 1hl1 y,,,11,r·, order·,. la <"Arll' fM,n 1hc me-nu I 4...,, I welkusoMr I•~ · th,, ..... c, 1$ )VU : -.-( ,,. : 1111<1 ~plc.,vwu,i.11h0l)1011 ln terp<:r rcuivl:IJ Af.llJY,. 14:l rel'l'lvl'f1 <"An tn ... mntl (Stt ~"'end.:,. Pa~ 3.) soro.a.l , kdl$, l.u1t.Ji."l~ ..· •lll)('mau, IC 11.. , co,1v ..· 11ll0ll s,tc. If• )Oil I 1.,KI a V.:f'/ 1.v vctt2:li'li llh l<~ I l~itJ;i FrlMy °'1"11 '>I tn 'i<-wO..lc.. M. f-1-ll!'iJS ...... , the r,,."flCh Quu1Cf l.'-"l'..,.._1.hlocl. TN- 1\11Tn'1 Ro111,'t" Ao.I ClulJ is ,JQuq J Mak~ your rtM"rvallnn~ nm, b)• H.I Bourl.lOl1 Street •~ADDY p rncnWl k.m thl.J yur. .:'.':.',\~'.~7;~.~-.... M .. ~ ·"'··---lt~;1rj~~~~------~-:_____ J

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©Bob Lahm 185 BUSINESS FlliST

I became the creative consultant for one of my clients.

OPINIONS ON THE DOWNTURN. VOLUNTEER AGENCIES. EHNEY CAMP ANO MORE! -. .. I

©Bob Lahm 186 4 0 SptrialryMuga.:IM1

Acknowledgements Crra1h·it & p - Bob Lahr,:~«~~!':'~

8n>C"hutt ProdutdOll le IC'I - The Publishing [)rep.a"::

~ !:at K~:r;; Publishi n& Effective April I. 1991

Clrc:ulalio1' Br~akdo• ·n .... -.r~ tj:tt;:~s computtn a,wl eo,,,m11n101k>f"I' • "". \.OOo• In wJa"{' I B11s1nd1 £,.ecvu~e\ .. ()thd . . ..• ~,:;",:!'.;.':,!'."'""~.•• ,~ -~- """""' ,.. :=7.:,,tlilctn\ftll\ fffW'l'CtR hl&hli, 11.\) asp1~i< Birmirigllam 's Commercial Reol £:ua1e c11m11ktt \,u-f:Kl Review a11d Forcas1 m111Uo0Co a b~td·«>·r, ,/

CircuLatioG Tou1 ctreub.1IOl'I Jltlldclsblp =su1c' Q ut-ol-sW'. C'"ulalioDaan11.ini-~ BfOk.dOWft .... . ,.ooa 0""' uccllli~n 10..000 ~Qlhtt 1,r,:J'/" ::-.:-:=:.".:.!'-~.-..... ---

©Bob Lahm 187 EDDfE FRIEND: B~•NGHAM·S NEXT GA!AT CftU8ADEJ1,_, ___ , USINESS fIRSt

THESUCCESS OF MIDTOWN... ~=• AND THE CONTROVERSY

ENTREPRENEURS WHO'VE MADE IT ANO MADE IT BIG! "' N£DPAINE. SEHIORFUN,"'"""' D ttOT RESUME. it.TS.AGURES,8AEF8,. fT'3AI RK»ffHE.RI!

©Bob Lahm 188 :,, .

. . . • ' -,·: • ' !•·: • .. . .. :fr.• .. . ,: .. ·-:, )/_.--' . • ",· ...... REVIEW - F011ECMT 11181

IZBH 1 W)V55i! 03 0

©Bob Lahm 189 When a lot of people are count1n1 on you to pick the~ place... This all directly led to more clients.

When a lot of people are counttn on you to pick the~ ght place •• g•

Call First Real Estate.

\-Vhc1hef you're a pro(cs,slonal site loc.ltor or a IOcal entrepreneur, cnsurlng success can be compHatcd. A lot of people arc counting on you to do more lhan pkk a suttt address- your company nttds to be accessible 10 c.us1omcrs. cmployttS and suppllcfs. ~ want 10 live and work In an area that offers QUc\llty of llfc too. A place that's conducive for both business transactions and persooal frtendshlps. INhcn you look fof commercial or residential real CSt.ltC, call FIRST- nut. We can help you pick the right place.

©Bob Lahm 190 ©Bob Lahm 191 .. TRUST & FINANCIAL SERVICES DIVISION SouthTrust = Bank Trus t &: Financial Services Division

i\ 1.1 rk ctin g & Str,,tC'gk Pl,1n

Stable Principal Fund

' 219Pl6 bl!UC!b91 1:nuq

©Bob Lahm 192 Simon SaYs. Cover Your Eyes. No Peekine

Some earlier experience, promoting a “cause.”

Simon Savs - Go Throuah Life Like This. .-...... _...~.-...... -...... _,.. ,,.,._.,._ ___ ..,..._..,._, ...... ,..,...... _....,\·-• .._ --.._..._ n....------~...... __. .. 0w...... _ ...... ,_...... _ ._ ___, ...... _.s....:,,,__._i.,.,.._ ...... _._..,.""""'__...... _ ...... ,,_.,_ ...... _ ~_,_,_...., __ __..., __ __ .,...,... w...., ...~..,.__--~I-.,_,_..,______=-c..,-__...... , ____• ______.__ ---..~ .... ---- ,.. ____ _ .....~s--,,,.______..,_ ...., .. ___ ::.... =---i..:-.::.:.:.· .... _.,.__.__ .. __

AJ,Al\AM:\ RADIO Rt:A.01:-i(, S[.R\1Cf Nt,WORJi {205) 93-1-2606 -·-WlllilSSOCIIJ15

©Bob Lahm 193 V.-1,No.4_,_ Small world… For Your Information

HSAD PROGRAM FORMING ■affifi•dt-ilfli11 THE 34TH GROUP! I'RKCH~r'Oll..'I COml!M.ENCT,, JANUAll.J 2•25, 1991

v...... ,..._""'-J,..,.., For Your Information ...... _ LIiii THE FOURTH ANNUAL THEME FOR ANNUAL HEALTHCARE SYMPOSIUM: " MANAGING EMPLOYMENT LAW ANO D,ffi,fMMiiJ CHANGE IN HEALTHCARE tii'l::l,iii#MfS'il LABOR RELATIONS uPDATE ORGANIZATIONS" J,.lSilACLM,.5. l'H.SUKli.(;. TIHi.\lSHA l',Ykllkl) u,, l'b.D, DirfflQ!" liXHCL~lVH 1'R0GRAM Th, 1hmc k.C'1h~ FJ,.,e, lh .\Anaa!Syui~um(,v He,l1hcu,; l11111Jcg.l;duatiua,l'I} L.t.."uli•n•cllbc, v._.¥¥CIY'lff••Ht,d1«.utnr;...-• /l.pc-oi<(11$U~rw,\'Mfrffi-.<' d p,inLl 10 htwdcnth J>Mt. Je>J111T Cuey,l'taodctlt•·•d(luefh.lt~O!!i«:,o{ 1MC'lf'layclus;,.rnuo,:,li ll bcaldl&cMOriadllllM ~.un F<,1U1..U·""'114 l'bon'I,~, Ari,<>"• Wllldcl.'>utbc r,,mo,.11a~~o1rn,,1 "1SILo\ lndtn1mpro.-crt\dr w~, c.,p...·,uu llkr.lOOII lo;tw• ua \\'wand.I~. Aoif.c>S' 7 ~~lb<:fifthlloorr.f1ht .-ddsthM it 11 ,n~J/,,.lh ~n !>'.otl Wfbt, 14<' J,"¥ • H t('(ttkJ "CC-0 l adtlV ('14 ~lm.!RIJII g "fl'hTnlnln~ ll'liff Owitie"-.., be1"eop,:ni.if;K»iuao,/LLcS,~inm Jo/In dicrur'focn.ro. :akq ,.,,b ...Jll,-.UU,..wil.1, l·11"1:JCll''-OOA, •ilnplcwcnw,1Con1,.ia rttu~e,1nJ1u1Jr,iaq11<:', O•"&t1heN°""l£\lh.c,nt•gtof UAB'1pt'Jfl'~m

ToMrcpc..i.Trcd IJmuC..,..ioc o(dn1 mtenbtrt ,.,;'I ~ ,-dt Throuc;ll J ~-

011 ThundJ\·, At gu~ X M1. Johi, ()Jtwn. Odbwund ,...,...., M<"linltbd.w!n.WLKon>UI .u,d \l1-Ml1J.1011riwc.,C:t11.e1for 11tl"(I ,n LI Jola, Califl)fn,i ,.il)fotn11~c,r bdpiMl( lr>.11e dw: nuwca;

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©Bob Lahm 194 MSHA

THE MSI-IA EXECUTIVE PROGRAM

he M:SHA l:Jcl.•c·utiY11 l'rog:-am 15 l Tot progr&l'l"l is offer.d only to highly gr,u.lu.i:C.- .,:ugr.un le.id.ir.,g to • >,Win ol motlva:ed mld-n:t'<'rp~ Whoj)05USS T Scir.1~ m lieJ,hh Admin:$tnri0Cl ().!SHA.I 1M rr..th.irily i nd mo!intion k) !'E'ach fe:lior ~ .. ~,,.,._ r:·, .,t lnnoutivt"u~u!'insl'ru<1iofl1I methods.\J!o"'• f205l !1J4-JSU. f»M•~p.U11$ IOCOt:1.pk-wJcw~rl'Cjuil'crr.1::1(!, rlur.ng 1n inlt':lsi\"(' 24 month p,:-r,od, wtOIO·Jt Cl.r~inl~Np:ion.

©Bob Lahm 195 Cl-Xi

The 10th Annual Symposium for Healthcare Executives

S.ndestln Beach RffOrt IIEJIIE Program O.Stln,Aofida THE FOURTH CfflC'I' fol' Haith s,er,.lt"OC~ ~ Forms 34th Group! Dc-partmml of IICPh Scmc:a ,'l,dmu11Mnll>OII ANNUAL ~of Hfalth ftdMcd ProfcMiom The UIV'o'ffliey of Alabllna • ~ HEALTH CARE

EMPLOYME/'ff LAW5 LABOR RELATIONS

UPDATE

THE• UNIVERSITY• OF• ALABAMA• AT• BIRMINGHAM

©Bob Lahm 196 Tb.e Arthur A. Wee1cs Scholarship Endowment Fimd

Atthur A. Weeq

Dean and Professor Of La"· Cumberland SchOOI ol L,a". SamtorcJ Un1veu 11y 1961. 19;.

:;.:::BUSINES~~.... w:~fl'~ PLY- ._,,__.., MAIL Th t Ar lllur A.,,:,,e:~ Sehol,mhlp £,uro,,,ol Law =~ =;,111 ... 1,1.. 1,1.. 1,1.. 1.. 1,1, ..11 ..1,1

©Bob Lahm 197 Some Ad Agencies A Lot Of Ad Agencies Say They're More Are Bigger Than We Are. Powerful Than A Locomotive

But We Have Better Ideas.

LaHM 1r assoams Morfcering ,I Ma"~ent

&,blc>I,"' "'•~d.,,t ,o Sc.-.S9283 U~Dt,.. $.,,,aJO) ll •~-,,\bboft,,o3.S1J.9 pojj 941 ,'4?9

Research • Public Relat ions • Advertising • Solu Promotion • Direct Mar keting

Yes. I believed in “practicing what I preached”: Promotion.

©Bob Lahm 198 IMl-t...11-,Pr~

:,(\~;,Blrwhgh'="!.:!':.!~2" ~.,,

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©Bob Lahm 199 SclltiTruelBari- Trus10,..,-&ri-.ngSEl-...::ea I forgot to \'J & H t').-,,lr'lll-01 ..:I ;a~.-'Id enlil"~'(f'Y'l~l Fl'H Reial &ta eorm-oat Ovt!:OI-Carmeroal real ...... SJla. llMnS ard brdr.nge mention: When I Fnt ~., .,... an:t tpOOat, ~ ~ started my own ,,.,,,,..,Ool31ne•ea,,,,.,o---""·""--5-·0J>Oa'-""'•-·• $oohHa,onCap(nl

\',/~ht.-RNIMOttdel.~rt__.leaqand~aget,cbfa9tW.,_ ...... ,. .. ~.Sd,od,1--·--andpl,S•• clients, or creative S.,,m!Uo-Cunbo<'n!Sd>

P\Pl'ningCoq>Gm4>· ---·- l,,,__T_ PaJ~&Co. PC lne.,,,__.,..,...,,... P!JjK:a

Pnsai PC~ 0m-..,.an::tdilmWret»,'flY 8l8l'MM nl8G,o..phe D.'9ffliad~lo:taAnQ68"·-- Only a business Swti.rn'Alawprock\J Q:rtmenD~~a,dWdngf9'.1'3kneaw:88 BabAh ,._,,._ Kornnan & .lotfW(:n. CAllt- N:ic IIOCOJflW'G frm card, and a LOT, Clam,a>t - ...... ,__. fN"""'/ On,ls,,.ioe-· O.U-"" """""""- --Cop .c.nc,... _.,_,.,IOd_y,..-IOdp,.-""'P"""'I of: Promoting. ;,,r,ff'Q"IHcm•SEll'..ba n:-Homt,~W"CM _,Cal:li5oOl·T-IOd--krcabll--

©Bob Lahm 200 INTEGRATION ACROSS THE CAMPUS

©Bob Lahm 201 My Internship.

Don't miss ' @ Tom ALES ~ ....Q Peters I .....-= Author of Q In Search of Excellence I ("I_) ► A Passion tor Excellence Thriving on Chaos Uberation Management For Salee, Managers

I ~ \ I Q) I I,. I Q) :'I J~ &reptiorwl :- ...... -- -_- _ -_ -_ ------Profits+mm 0 F4reJ)twrwl z,~ity: I"-..., Hospita

©Bob Lahm 202 A Presentation for Allied Holdings, Inc .

• • 1 ' ' ·.' 1 All l<• d Holdonq•, ·- --- 11 , , -- ====-

~\, GeorgiaState Urlivers1iy Your partner in performance enhancement. ..

©Bob Lahm 203 While teaching, I have also reached across campus(es), and communities: Promoting.

©Bob Lahm 204 Monday. February 26 12:40 p.m. • 2:05 p.m. Department or Business communication and Entrepreneurship BAS 5324 Business card ColT1)elition Judge: Jim Van W,e/d;\ Ptesident, VM1W>des9n.com Prize: 1 hour free consutation and$100 All Students Are Invited

2:20 p.m. • 3:45 p.m. BAS 5324 Dustin Hillis, Featured in the book • Speaking d S<.ccess", along with Stephen C

4:30 p.m. • 5:45 p.m. Whafs your BIG idea? BAS 5315 Dan Moore, Vice President The Souttr.Yestem Company "Set Goals, Ha..., D18/Jms, and Execute· take it OD I Wednesday. February 28

9:00 a.m. • 10:00 a.m. SUnTrust Roon\ BASN127A EntrepreneurshipWeek USA Coffee and Donuts Sponsored by The Soull1Wes/om Cof1"8ny Feb. 24-March 3, 2007

10:00 a.m. • 11 :00 a.m. www.EntrepreneurahipWeekUSA.com SUnTrust Roon\ BASN127A Dr. Robert Lahm "How to Find an Ertrep,.,,.um,ip l_,,.,,ip.

11:00a.m.-12:00noon SUnTrust Roon\ BASN127A Jon D. Ja"'es, CPA "life, Lo,.,, and Money: How lo Have Moro d All Three"

1:00 p.m. • 2:00 p.m. SUnTrust Roon\ BASN127A Patricia A. Blankenship, J.O. nn Blankenship & Blankenship Allomeys at Law JONES "Going Solo, Partnering or Going Inc."

2:20 p.m. • 3:45 p.m. BAS 5324 Elevate, Pilch Judge: Kissy Black, Prosperi, Lolos Nile For More lnfonnation Visit: S100 Cash, Plus Mae Prizes http:/ /mtSU.BdU/-tntre

©Bob Lahm 205 There are numerous ways to reach across the campus with entrepreneurship:

Film and TefeYlslon Program Workshop Some are more widely Tt,.,e, B~SiAe, cf F~ documented and “big time” Dr. Robert Lahm

endeavors, whereas others (Last Name Rh}flles with " Tom" - Pronounced " L om'1

are not. Course: SeneorProJettll. FTP489 -01 Room: (W!lh Ar1edge Armenak1, Jack Belk 287 Sholder, et al) Cius Thursday(s) Oates: TimH: 500p.m - 550pm March 16, 2017 Collaboration between April 6, 2017 business faculty and those Office who are associated with Hours: (By Appomtment)

other disciplines is one E--m afl Faculty possibility. WebPage: hRP/1PztwsWQl f1u(8Us,hm

©Bob Lahm 206 WORKSHOP TOPICS

PROOUCER's TOOl 80X l) Moonlighting, full-time employee, work for hire, starting a (service) business: Making videography/film a career or a hobby?

2) (If) Starting into business. Organizational form; organizational structure: The choices and the logic behind them that will predict vour future like a weather forecaster.

3) What kind of filmmaker are you, anyway? Young, idealistic, full of dreams... starving?

4) All about clients and their projects: Big ones, small ones, mean ones, nice ones, those who are poor, those who POOf-mouth, and those who will be vour project partners.

5) Pricing: "What's this gonna cost me?"

6) Care a nd feeding of supplier, employee, sub-contractor, client, and other stakeholder relationships: You are now embarking upon a noble journey-vou must become an educator (but learn to LISTEN, FIRST!).

7) Promoting your talents (business, services, etc.).

8) Business forms, tracking processes and records: "No ticket, no laundry."

9) Entering into and leaving agreements and disagreements (with anyone}.

10) Income, risk, insurance, risk, paranoia, loss, risk, savings, risk, profit, risk: Creating and monitoring systems for managing contingencies.

ll) Ethics and etiquen e in business: Your word is vour bond, and vou'II be happier in the sandbox if you play well with others.

12) facilities and equipment: When in doubt, try duct tape first and then spend if you really need it.

13) Everyone's retirement plan is a casket, an urn, or perhaps something more expressive: But, are you planning to rest before that?

14) Intellectual property: Rights mean you own it, some of it, or none of it.

15) Strategic planning basics for vour career and/or business.

©Bob Lahm 207 .!. [ L LI The Center for Service Learning Proudly Presents Hannah Davis, Founder and Molly Davis, Outreach Marketing Manager (ond a WCU Graduate!} BAN G S ®sHoEs

I have reached across the campus, at WCU: Promoting.

Hosted by Dr. Robert Lahm and Dr. Lane Perry University Center Theater, Room 315 3:00 p.m. to 3:45 p.m. and 4:00 p.m. to 4:45 p.m. Wednesday, March 16, 2016 ForQuesclor~Cont~: Of. Koh rt Uhm, .,rofes50!' of t,m,prMeannlp M•~tt, of Entu!p11eneua h ip Drgnee Pros r• M Oi,ector ril:hmOwcu cdu

BANGS h as I nvested in 78 entrepreneurs in 31 countries around the wor1d, Including the USA.

©Bob Lahm 208 WHERE TO START David Lilly Founder and Principal Consultant H~~~ Just Right Consulting

AutdD-ade = Constellation -- Exe lon ~ NCMLWMIU~-· ,,1 .. ,1,, ~ l ..~.,,...., CISCO ,::, Exelon Ut1l1ties SIMS 'I! STEELE ~ ProtonPower. CON!ULT"C

ComEd ♦ PECO.

CU"R VE

....., ... ..\ N.'flhC.,_\ KiOR llt..toc C.,'fffl'Mt - - ,

University Center Theater Center for 2:30 p.m. to 3:35 p.m. and Service Learning 4:00 p.m. to 5:05 p.m. Monday, March 3, 2014

©Bob Lahm 209 The Center for Service Learning and The Center for Entrepreneurship & Innovation Proudly Present: ~'-AH~ ~ r~ ing money far Haiti."

Erin was se.renyearsold when a devastatire earthquake hit thealreao,' poor nation, and she felt compelled to do somethire to hetp. First sheeave her saviresof $3.08 to the cause; she be&an rai sire mofl!ybys!llif'I: herdrawines(in the form of bookmarks) and photceraphy (in the tam ofereet inecards) at the local farmers market.. In 2013, ataecll, Erin begancreating andselire "love Buddies.• Thesetinvpotvmerclayfieures of babi~ toddlers, and chil:1ren are a reminder that nochiSdd6el'Vesto erow up i n poverty. Erin often thinksaboutvlt?{ she shouk1be luckyenol,ehto hcNe access to heathcare, education, clea, water, andeood food, while other kids just like her do not.

AU profits from Erin's saln&o to Partne.s in Health fwww.pih.o,cl ''.Anyone-even o kid from o smo/1 town-con ~nd the WhH tf? Foondationfwww.whptiff9undation.orc). make a difference in the world." University Center Theater, Room 315 ForQu~srions Contact: Center for 3:00 p.m. to 3:35 p.m. and Dr. Robert La Ml, Associatf! Prof~of Entrt!p'ent!ll"ship ~e':"i.~e_L~a-~~ing 4:00 p.m. to 4:35 p.m. [email protected] Wednesday, March 4, 2015

©Bob Lahm 210 R Re

©Bob Lahm 211 i))ti\ttll ~'~~~~~-

"Outstand111(J y OU11(J SociaC'Entre• _pr,unted"JOrdist . A-want' mccum rn community~ k~ . ~~ Xrin for J-£aiW

:Mardi 4, 2015

,.....___ ,,,,_,,,_ ...... ,,,. ,.., ......

I have thanked others for their service (and Promoted their cause).

©Bob Lahm 212 CATlQORlll&I TMll allPORTllll

Social entrepreneurs presenting two public lectures on helping others, I’ve helped create starting businesses lilarth9.1016 19 Emal This Post ~ Pmt.Tl'llt:Post llst1.re I OfJCJ reputational value: Western c11C,ina 1Jni¥erSitt \flll!I l'IOst two ltclufH at»ul a IUttnsf._, bisnns and its totlilly conaciOus 11lnvts1m111t i'I thl rnein•i0n1I buSl"IHSCOITfllJl'ltf ct1 Wei:tlesdaf, ...ch 18, at fll AK. HrldSUfivllstf Cert er lhtale!

HIil fnt prtsenlatlOn iS 3\o 1 45 p,m. and lht second beQiJS at • pm Both lltfrte and OPlll"IIO tytryOl'lt via PROMOTION.

The twnot1 and preSilttnt rJ BANOS shotl, MMn•h D• vl•. \fllll be J)lned bf he, tistlr and the COfflllll''S or.rtrO(h 3/9/20,l, eoautore Sp,lnJJSl,10l1S coou)n•OI Mollt Davis, a WCU lfurmll, to speak on the df'lelopl'IW\I rJ I'll COfflllll' ... tnd h blJISIUS model that , ..rwests 20 5/9/20&1, HomShdoRecllll plfCMI of ntl proMs '1to 111"1trepr1nei.n Wld s/•0/20L&81>ob1cre Sp,1nJJSpats lheil k!HS Cll'I I monthly baSiS. Pdlf1lial ... starl\.1>1 tit hW.plcked bf BANOS for 5/L0/20•6H1$t01Yo1Suc:ti'islln fi'lancialb1Cki'l!l,Pr0m01tdthrcughlstotlal rntdlll efforts 1nd prCHlded ether assistance. .,, n rsn,h~-..- - <:.N I" &ANGS • .._ was started ti 20,0 in 11 Caltndll CharlH1ol\ SO~ Clfolnt. fl'lar't:eM'lg an afforoattt. flSl'llctiabl8 1n1 rJ sneakers. • Hl\)her EducaliOn N~llltch ·aan9$" means "11•ll·;, M#ldil'in II WCUHIJ> "Tt11lsanuce1en1oppG1ll'litf'lo•• lcrmt1 TCDT• lk1p,esker ttl andllarn tt.ntlO...... $f1MkSllelE01tllllkt10_.g,elOW'IUnMIV'tw!hltieloi:-;,:)nw,;:I,;"

1bcutar1iflternationaltOl'llllnta'ldlS soua tnlrepr-,ieutat Cll"ldeavors: t:lid Robert Uhm, WCIJ proft$$101 rJ en1repreneurstiP and dtector of the Maste, of Entreprl!fleursNp Program "To i»te, 9At-GS flas u 11W.atei:Un 78.tnlfeprllltilS n.31 ca.ml-. ncllJd,ngAINIU." Latffl sa!d M and Lant Perr,, director rJ WCVs c 1111e, klr StNltl Leamri!I, fist met DIY• soon aft• shl fou:'IOed SAN>S, folalflllf\O ~ rec..~mo.1-\. her upe,1tnce as an EnglilSh·•>•onO-languaQe tnc~, lr'I CNna "Her t r'llreJRr1eur1al Jo®ey - golr'Q back Wld forth u, A• i'I Nlc.s, sl:rw.ms search of a manlJ'acturer. c,eatln!I a bUsi~ss plan .,,,..n r10 experl«tCe. fridl'IQ lrJrteSUlf1 - tells a tale d 11eme11doos 1enac1tr." Lahm •~+u'- -Tneltclllres 111 spontored 1,tWCvs center fvr Servk.e Leamll'II trd College of Duai- f

02016WesternCaroina~i¥erSIIY 0

©Bob Lahm 213 2 C TheSy1V1Herald&Ruo-alite S)tva,NC 'Th.Ktday,~18,2014 School Dovs News of our area students WCU students raise money for WNC groups serving children Students studying social things the kids wrote on the programs, education.al pro- competition forWCU Greek initia1ive and learning more ing. The coune is part of entrepttnc:W"Ship a1Wcstem cards were that they were gramsforchildcare1eaehcrs organizationsinthet.ailgate about what it does. WCU':J entrepreneunhip Carolina University this thankful for their familie:J, and dirccton and a family pa,tcing lot,.. said Rives. "These funds will help program and is required fall who chose to organize food, turkey and God... said support network for parents So io mid-30 10 low-40- pw'Cbue new library ma• for students participating or assist with fundrainrs Barnett. '"The kids really and caregiver:J of children degtte temperatures, c~- terials as well as help fund in WCU's Ripple Effect in connec1ion with their made the fundra.iscr mean• with special need:J. pelitor:J raced to see who the day-10-day operating learning communil)', which coursework helped raise ingful for us." Yet another s tudent couldeatapintoficccream expenses of the program," is designed to challenge more than Sl,400 for orga- Tbc WCU stu&nts then group worked with Jack the fas1est. said Grise. MThe money srudcntstonotonlyobserve niutions serving Western soldthecook.iesforS2each the Dipper, an ice crea.m The student groop then raisedbytheeffortsof these the"ripples.. thatsmallacts North Carolina. in their home communities shop wilh parlors in Syl\

foCITY ~2~3 ~4 ~9 ~5 ~6 ~8 ~1 ~1 1 LIGHTS I .6 5 1 4 8 9 3 2 During its second 1nnu1I fu.ndraber held Nov. 8, J ack cbe Dipper Ice Crum in Sylva helped to rabe more than $ 1,000 for Che Rtading Rover Book.mohUe. prognm BOO KSTORE 8 9 7 3 I 2 4 5 6 in Jackson and other Wt$ttm North Carolina cou.ntits. Spe-cial apprtti1tion was 329164587 exlended to Laae Perry and Zscb R umble and their plannina; tum it Western Books,Carrfs, 548279163 Carolina University, Blue Bell Ice. C rum and 1U the local businesses that donated. Ci//sandmore! 1 1 6 8 3 s 2 4 9 From left ireJanice Edgerton, dind:or oflhe. RtgionA Partnenbip for Kids; C1n:,I Grise of Fontana Regional Library; Dan ■ Smith, co-owntr of Jack the Dipper; E.AsfJACKSONSTREET 6 S 2 4 9 7 3 I 8 Tony Stnut, co-owner of Jack the Dipper; a nd L1oe Perry, dlrtttorof lhe Center DowNTOWHS--,.VA 4 8 3 6 2 I 7 9 ! fbr Servi« Le.am Ing at WCU. ~2M..._v ,t 8 l Q S I l 3 • lOL ~LJ..ICII: ~•wJa! ll MCff EV2-11VCIC20121m.l Q ( S 1 3 l) I 8 .1ou), 211-,n,• co-o».un 0l11Ctt ''" Q!bbn! 111.q ('IUC 1,cuJ.• Q!'-"IOL OllPC c11:u1,L CLfK Ol t.,OU(IIII K.tJ01111 rrpu,U,i oaua 2w1i,• CO-OM Ull:L 0l 11Ctt IPII D!hbu! C.\W-~U'\UJO\..(.\ l I Q 8 J < :S 't 3 t.,LOUJ l'l' ll.51111!CC [qt,"'oa• Q!L«IOLOllPC )S'~OU V l,,IL.tl)CL?plb lOL KJ

©Bob Lahm 214 WCU business faculty members create entrepreneurship website The webiile Eotrcprc• uwmds rd au:d to <:reali"e rinns with prxri1iontts are ncunhiplntrrvkv.'1.o,ghu andinnovztivetttcbin$:i:I capableofpruvNiingrichcr been cru1ed by f11:ul1y the~ fow years smoe lie mu'lings and buildiQI in mmibcn i11 Watc:m C- Joined our fK.Ulty - he's ierpc-noiW ttlation,hip,. · lin& Univcniry's Colkse mdtosurvivcoe1lualr~ To dale, the ab1hry 10 of Biuiiu:n to. share the and he did that by being pos1 interviews hn btto i,mgJ,u. of C!'Jlrtpn:neua a ble 10 talk to and uodff. v..aacd only to WCU SC\I• aod,othe.-npnUwbocan. Sllnd1lotofdifftren1kinds (!er.rs. i-ovidc alhicc abou him- of people." ""But tltinldn,1 t ntrepre, M$S sure-up, opcr■lioiu, B)' i11corpouling 1n , neurially 1oward th• fu, finaotcs, mukcling. and ltrvi.ews lfld minimitill& lwc , ...,, wo11.ld11 'l mind ~raru.s. 11.nditiun.l lcxlbook or bccom;ng the..-orld'sl1rg- Oradu11c studtnls In cue-study 1ppt01tb in the en repository of spoken WCU's mHttr's dearee ~ Lahm and Lock, cnrttr,rtnturiat '#Udom: proa,un ill cnltepm,cw-- wood have foundttia11hey Lab.:.nJ.aid. ,llip poSI interviews as 111e able lo bc:lp , tu&nb The WCU College of putor111CTQl~lcamin1 gain an entrep,enturial Bus.inei:s.s'CtnttrforElurc• acthirythrough~ursuin skill tbal maay WOI.IJ,h1y ~ ~ip111dlr.novario!i. whidi lho:-)' vt enrolled. of profound i111r,ortal'lte- iJ designed 10 Solar s,.,c,oess." u id Lllhm, v,·bo lbcir own bu~inusa, or 10 a.ad acadtm.ic DOW, IJK"rc'1 h» cond)IClcd 11:ademic wont with I D anplo)'er in a rcun n tie·s -,,·on thru ruearcbonffltrepttDCWi.al lt\Uteh:PX 1ml pvwi:ql: ati bowln!Pl'Wllandcim,ious- cntrcprcnetrill vcntwe.. ly1csrificdbtfortt'-

©Bob Lahm 215 “He developed and implemented an advertising campaign on the Entrepreneur.com Website that is better than that of almost any university I have ever seen, rivaling the quality that one might expect from a corporation with a large budget.”

— F.S. Lockwood, Ph.D.

©Bob Lahm 216 SU8SCRIII - Entrepreneur Latest Top SO How To Sien .....,.. f " in D

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©Bob Lahm 217 D St.iing•l9uWltSSHews& X ....------,1 C D www.entrepreoeur.com/topk/starting-a-bu~ness

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©Bob Lahm 218 Find resources now to start, run and grow your business !!I

7 Insanely Productive Habits of 100¾ Onlonc Successful Young Entrepreneurs AACSB Accrcd,tcd

Cour'!.cwork focu'!.l"d on your bu\lnc.-n, Uu&ht by rc:il entrepreneurs 5 Ways Entrepreneurs See life Differently

13 Habits of Exceptionally Likable People

10 Reasons You're Not a Millionaire·· Yet

LATEST ~11vouhavean1 · _deawecan _. MoLvat.on and Rei.nt,on qeJPVOU win With II Young Talent Demands These 6 Things for Their Loyalty The same traits entrepreneurs seek in young talent are also the traits that

©Bob Lahm 219 ©Bob Lahm 220 100% Online AACSB Accredited Coursework focused on your business, taught by real entrepreneurs

Or at least be Your Own Boss

©Bob Lahm 221 While researching, I have also reached across the region, served, and: Promoted.

~f~11:k s,umem Acallemv or Entre1reneurshlP

200(PGLU VCBQGWA 01 (WLGbLGUGOL2Plb t"' ~~ A journal that grew…

©Bob Lahm 222 Recent Special issues l My print and web development work, Sr>n'7I F',,,hpn,,cw.1/.,p (Spedal Editor. Sba"·n Carraher! made this journal a reality.

-\fi,TYJJi11mu, (S11u111I F.,ti lnr, r>:.vnl ).lildwll: I American F.,1M6,,u,· fl",'.t,dh111 mzd P..#t.r,p1'l'l'IINrJhiJ, {Guett Editors. Soott Bcau!icr and Dan S ul lt•ri , Journal I Indexing C.11bdl'i. Dirtctor1ei • P roQ11r1tl J-:111 rrprrnr u1 ,.hip • r-:nsco I~tt~r-ihiP Editors Kirk C. lleriot. Scnio1· Eduor ('ulumhu:,. Sti.tf' Uni~ro,il y

Davi,1 'I'. ~1 i1 d1("ll, A),1toC"i"h· l',dilm Uni\·enit.t or ~ ntu l .'\.rkanus

While Call For Submissions researching, I

T he A ,n.n-uaH J1Jur11al ef J;;11t~pr1-11r.kip is se,eking 11,e"' , ubmi.nion, fo r our refereed jou rn.11 have also reached locusing 011 a bknd of thco1y, practire. :md pedagogy. P1 iont)' is givt'n to manuacnpts mak mg &ign ifi<:an t ('()ntribu1ion, to the de\•,elopment of knowledge c>n t opie, in entreprtne11uhip, snu,11 busineu. and new .,-enmru. ·1 ht journal is :ipplicable co" bro,1d audience. including polk .r•m:ik,en., across the nation, 1"<:st1u·chcr,. profcuor& and g·r.iduatc &rndcnts. www.American1ourna1Entrepreneurship.org and: Promoted.

l'••~lCl_,l_.•u,, rt••N

©Bob Lahm 223 Yep. More, Promotion.

l',,.'lUll.'::>:;1.'l', ;.1.11c, 'V.U!ClClOIH u1uvc1SHV. 1-.:oven1oer L.uu, cun1011 or 1u11rm11 "l crn11eren<.:e 1vov. 1::,-1l') 111 \.-111cugo. A local orgruUzing committee for th~ Um1ki11g nud Fiuance (p. 3438, Vol. 31, workshop included mathen1atical sci \ o,. , .... J. ~--, ,. ,,.,_ Or. Jacob Klcrlcin (mathematical Nov. 11). ences colleagues Ors. Terrance conununication and entrepreneur sciences) presented "Mathematical Quinn, Ginger Rowell and Xiaoya ship) recently created a Web site for A research study conducted by Zha. I long also org.ini:t.ed a special Play and Student Affective Experi· O rs. J. D ee Cole (retired), Robert J. 811si11i?ss Ed11cnlio11 Digesl, a referenced ses.,;ion with Dr. Qingtang Jiang ence" Oct. 25-28 at the 29th Annual Lahm Jr. (business communication scholarly journal that focuses on Conference of the North American (U niversitv of Missouri at SL Lo uis) and entreprt-neurship) and Scott J. instn1ctional philosophy, theory or Chapter of the International Group on "Waveiets and Splines \.-.·ith Seipel (computer information sys practice in b usiness education. for the Psychology of Mathematics Applications'' for the American tems) and Dr. Harold T. Little of Mathematical Society regional meet Education in La ke Tahoe, Nev. Western Kentucky University, "Credit Presentations ing held Nov. ~-4 at MTSU. cu rds as c.1 series of start-up capital Dr. Robert J. Lahm Jr. (business Dr. Robert 8 . Blair (business and ongoing capital management," communication and entrepreneur was cited by forl1111e Small Busi,iess in commu.nication and entrepreneur ship) presented ·'What is Marketing? See voursell m 111B Record! an Aug. 30 CNNMoney.com article, ship) presented "Seven Keys to Advcrtisi.ng? PR? Promotion?" and Leadership Success" at a state officer "'The crrdil cnmch and small busi "What is a target market? Hmv d Southern Ou~inl:'SS Education State Farm Summer Business Camp, t-veryone know what you've beton up Association Convention Oct. 25 in able to get fundllig." conducted July 13 at MTSU by the to! Please note that publication of Little Rock, Ark. Husiness Education Partnership of the printed or hand-written contributions Or. Robert J. Lahm Jr. (business Rutherford County Chamber of may be delnyed. Hest wishes for a Ors. Jennifer Dooley (mathemati communication a.nd entrepreneur Commerce. Tom Tozer (News and successful 2008! cal sciences), Vivian Alley and ship) published "The Development Public Affairs) presented "How to and Use of a Business Plan Grading Lawanna Fisher (academic enrich write a prt'SS release" lo attendees at ment) presented "MISU's Journey Rubric" in Georgia Busim'"Ss Ed11cntio11 into Transitional Mathematics" at lhc the same event. Jo11mnl (Vol. 25, No. 1). Tennessee Association for Develop- lhe__. aec,3,20011111111

©Bob Lahm 224 While researching, I have also reached around the world (and Promoted the plight of entrepreneurial bootstrappers).

CHANGEINTERMS.COM _ ..... c.....,,.,,.,.... - l:::lc:lc::l~l::lli::::IC:lcs:::::l'ICCCI Notice to Credit card Companies oecention is Not a "Business Model"

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©Bob Lahm 225 POU> ------

Obamacare Is ·good for small business,•

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0 Abou t IL ncateeor1ied I No

0 CnnlMI ENT 645 SME INTERVIEW: Too soon to tell 0 Policies JUSTINE SCHWIND EL Vote 0 Press M k"lit i),2018 Put sted by. lmc,nnls1 ViewResuts

Visits IIHH■ Po Nrhl\,f> Today: 588 EHTREPROIEURSHIP BLOOS

Yesterday: 730 Sr ,1ll8u:.· ~CEO

Last 7 Days: 5,865 interview ADVOCACY O~GAN17ATIONS& RfSOURCB ------

Last 30 Days: 29,694 ent•epreneurship Err1<11I dOd Fd)I( .6l Con1r~. M J.<1,Ci:NPl'llfTlf'll'

N,Ui::>ndl Sn'ld I Bu:. nn.:. Last 365 Days: 403,498 lu~ entrepreneur s P' ,p· ~t'J< dSSd~~I( enlfepre ~sh p hedtthwre FllirGrt1hilrr FdJlJ)'taNnr., SNh t'ttpllWltwyOIJtUIM> ttr'Yw.lt'Ch) ...... JOR;.,QJpbEsU ul:,nyog-1 entrepreneur sof'rNille g10:»1 econor,ytr-1n .11.;ericy insu·ance wire Cot-ort S ~ o c m~ a i::uaa tc,1uty p,otog•,1p'let'"-.ctcr,1,~ Kolit Ch tow The 'N ~ Oi,·e Tracy itifiii,11.iif i-iM Orerer SCOPC oovertySccial Entrei:,re,~ male Frinc pal 1,,;nca1egc r12ed Ma'1i:•t ,g female sewing ron I I Frct t food & ~ag• IT in'.r.lprenwr Vlfle•a-1'U .3Grlcultu·e ocecut"c Se f R0BINS0N_DEXTER_ENT645_SME Employed pa~"Ct'$'i ~ gcrcr.il 1ms1~20W□ EX!ElrE~lev2-2wE

Social Entre preneurship ~ ,~~,o--SO"(Ml.t p,.~

Campus and Community Hands-on Involvement

1n oroer to maxlrntt me cour~ expentnee you..,. be eiq:,td.td to ·c,o~ ~ In lhtcor,;txtofYOU'l!Jtt r'liffl Youd oe eq>eelle:d IO CfflVl'll youruct tom 1tn ttian tnt nu'l"lber ofhouo$oflwrdl•on~9SV"'9..,.ol.:tn h~..-.,doQ.lrnWC"1_._

Distingui,hiog Pet"sonal Services f··101n- Campus and Community Servi« Involvement ■ Student/Commun ty cn,,iement• Sen r,ce l eaumng camp.ieard0(:ffllR,lfityitl'l'Olwemertll'l!Atordinll.,-be~throl.Qh1bG'llfd&~ SBTDC Cltent

Q'~ICMQe:o~ Ext1clslrowllfla frltnd10hhtorlhtfftl1(beoome0 ProJecu ~-~••wond,rf,J!hlngl01','CIUlodollllntod,tM~fnerd1$-rd l"c,om,n.nty OOg1111nQ bll~Of~ilbrlJIOf8flondMdl.8~P""III partymay ■ llonoeeolyou on • ■ Student/Commun ty En,11ement• ~bMII b.tl;\lll'l, tl'ltleopenlofwehptlllCINlteMOtS• not• corTTfU1lY" Strvkt lH rnlng Soclal Entr1prt ntursh1p w== StudentiCommun ty En1111m1nt• Se r.ice lt1rnln1 Entreprenti.:rsh p 1nce1Mh1p$

*Data as of 2014.

First Year Seminar

l llt~IT411 Open To All Majors (Any Student Is Welcome) Compressed 8 Week Format (Rewarding & Fast} Online (Leam From Wherever You Are This Summer) Cutting-Edge Content (Skills You Need for Jobs Now!)

Taught BV Experienced lndustrv Protesslonals & consultants

..:~~§j__=~?:!;T:~~ -· -~::. Bnsinru \~ !~i;.!t-t l1nology

Developing Your Online Presence

_....------

©Bob Lahm 230 I AGUidBIO a Online Toolstor The new, Enuepreneurs A “completely ~ St.~O PRE E updated,” SBTDC resource (presently out for peer review).

Rtblrl 11.11110. Jr..... a. ann••• H. sch••'

Tnblo of Contonts ------.__,.,___ :______------______, ------1 ·-::;~:;.1_•1------,,,_1,....· - •.-.... •-"...... , _ _ _, :..t,I .. p,i,t..,.11<, - .i~,---- .~lut t1W••·c~-..1. •'"'"h¥' '- Morchont scrvfcos, --='-·--- managing onJino sales, do\wilc3Cfatile PfOOJc:_ a"c 1/-af's :tnd gottlng paid a dilfc'Cflt $Oi't o•<1e H'Vory SCcne1rio al~eiiei-- s YoOfwe.:>Srtegotn~ 10 ~ an E comrr~,~ webt;ita, through which A. WYSrNYG bUllder With on ~-==•~"=;~=~~~~ lnt~ralled Shopping SOfut,on Cl:.tomcr::. cun PJTctcacanci Pil>' 'o· a :>'Ol.'.tucr cor servtoe} Wthcut n,e l'.a.,ies, CJ:Tlon to sr,m OLr •1.tfh ever le~f9 the comfort ct fhetr 1s tie · a.r.o-mag car S"lo:,o ng can 'a\lcrite 1ecin&1 or sofa? fso, Pfovi:Jitd r ght lhe,e in Your I0011ti1 ,'CL· ,c OOhl:I to need some way tc by )'Ol.r DIY V-'Ct)s tc btJldcr acc,ept onlme et«ic ca'd ~ '---- I IO'NCVei-, depeo:1 ,gen the loid :.,1-) _·---______------· _ of t>w ness )'O.J re n.mnrng, ,t can .....,.-. ,..,______T~•e :ire s~..-e,;;1 CJ:Tlons •or :,·ou Qef P'ot.birillel)' exi,ens1ve to act-~ tl'l.s Do U SIM reving a loto•p,-oju:t_ ...... -. tnr. sew,,a, Pf'Oc-l!'lse,s most o'len ,,;..,1.. 1 •1t-ard ·in-hand losaJ ial'C ShoJ>ily.con ar c n"I0$1 othe, h.r1).. dcllvcr) \Ila a 'NCt:81:c Fo· l o.ic en ii. tMinttely ·~11t "~ve,, ~OU ootJld oe ~ lhg e ChccdrlJ Ol.l fl'Sf f for ro OOlCr reason than 10 do a rc,e rnlorrre,o ~(;la,tt .-l>!Jcompartt' wften :b'~~~~ ~~:~~:~...... • it,lst ~ rruch o( a dr.iin on ret.ot.J,~ " tl rrorlt!y. These Of)llon~ S.'JW! y,")u r mr., :>nd ~tmatte,sJ PeyPaJ

Al Plt'litmt lhe 04:,t! e.,s~ OJJffon. 'Aith more .'t ltt Clltte Sb d cbuSillCSS- BettCf fle)(lbllr:y tt· 1n YQtJ rtugn: be "·our litf!efrtg '1.-ith bu I-in o,iiorli, Is ?ay,>a1 Pay,>or o/fCf:J "boy' buttons l"lat can t:e

But the order is a LOT taller than that…

And, PROMOTE, PROMOTE, PROMOTE!

Who is Catawba College? Where are the Nooks & Crannies? Inroads Vision & Foothold

. Founded 1851 Catawba . Salisbury, NC College . 1100 Students . 15:1 Average Ratio . Over 70 Fields of Study . ACBSP/SACSCOC . D2

Nook #1

ENT/ENV

Combined +400% in 3 years Nook #2 Environmental & Sustainability awards $1,000,000 annually in scholarships

Working to develop integrated ENT/ENV Program

ENT/ENV TRAVEL

W H Y ? ? ?

• Israeli Desalination Technology • Drip Irrigation • Tal-Ya Agriculture Solutions – tray system to grow more with less water • HomeBiogas •TIPA • Eco Wave Power & Renewable Energy

240 ©Renee Just Psychology & Music • Working with respective Campus workshops Department Chairs to design integrated courses these held throughout the areas year serve to inform • Next potential trip – Nashville • I/O Psychology and educate

Wide Spread Freshmen Publicity of Ventures Crannies Orientation Week NOT originating in the KSOB

High School Innovation Israel Recruitment 2018

241 ©Renee Just . General Education Tag . SP2019 Team teaching EcoPreneurship seminar . Student ventures represent an interdisciplinary mix of Inroads Environmental Science, Arts and Sciences, and Business majors . Part of a Consortium offering online courses in Entrepreneurship exposing CC and ENT

Entrepreneurship is integrated throughout campus in ALL majors

Publicity for Ventures [L-==--==----==----==----======-----==-----==-----==-----====- D ---. Major in Entrepreneurship within 5 years t-==--==---==---======-----==-----==-----===- d ~ 25% Increase ‘seated’ in classes YOY

243 ©Renee Just UNC Wilmington NCEEC ‐ 2nd Annual Conference “Entrepreneurial Leadership – Engaging Millennials with Contemporary Leadership Profiles”

Professor Vijay K. Patel

•

©Vijay Patel 244 Engaging Millennials… •Huge challenge •Demand for relevance and meaning •Formidable competition for short attention spans •Combat by providing icons as platforms •Engage with personal and peer perspectives

• Tesla I • Huawei • Alibaba n • Facebook • Apple • amazon a~~on.com ~~ier· • Tata ft. • Haier ... TATA • Google You(m • BMW

Represent collectively trillions in Market Cap. Part of the fabric of contemporary life internationally – hard to imagine life without these iconic companies. These are only a selected few in the global pantheon, of course. 0

©Vijay Patel 246 Engaging Millennials – our approach • Engage, Inspire, Connect – create real world feel • Modern day icons and legends – what we can learn • Interactive Exercises and Heat Maps • Seeds for thought and discussion

60Have the courage to follow your hea rt and Intuition. They somehow know what you truly want to become."'

• Entrepreneurial Leaders • They change the world • A few more modern day legends

'~ I

"You've gotta love the game. 11'1""= To become really good, you need to live It DREAM IT and sleep It." lfO"at/0 0 DO IT.

• AI and Robotics • Fintech/Blockchain revolutions • Nano-tech • Autonomous Driving • VR/AR – education, telemedicine, entertainment

• Barriers and costs to entry falling - Shopify, eCommerce, Alibaba • Apps developer platforms – 10x-20x reduction in launch costs since 2000 • Crowdfunding • Unprecedented Opportunities and Incentives 0

• Prof Feringa (65) of the • “The 2016 laureates in University of Groningen was the chemistry have miniaturised first scientist to develop a proper machines and taken chemistry to molecular motor. a new dimension.” – Royal • Nano cars – what next? Swedish Academy

Transformational Leadership [____ -_ -Entrepreneurial ] Leadership Entrepreneurial [....__]Orientation ~

• Transformational Leadership • Entrepreneurial Orientation • Charismatic – inspirational • Risk-takers visionaries • Innovative and Creative • Engender trust and fierce loyalty • Proactive • Outstanding compelling • Competitively aggressive communicators • Autonomy driven • Empathetic and personal ability to get teams to outperform beyond individual limits • Provide extraordinary growth opportunities

Adapted Hughes & Morgan (2007) Adapted Bass & Riggio (2006) 0

1. I would never require a follower to 5. My followers would say that I am do something that I wouldn't do very attentive to their needs and myself. concerns. 2. My followers would say that they 6. Even though I could easily do a know what I stand for. task myself, I delegate it to expand 3. Inspiring others to extraordinary my followers' skills. achievements has always come easy 7. Team creativity and innovation are to me. the keys to success. 4. My followers have told me that my 8. I encourage my followers to enthusiasm and positive energy are question their most basic way of infectious. thinking. • (Items 1 & 2 = ideal influence; 3 & 4 = inspirational motivation; 5 & 6 = individual consideration; 7 & 8 = intellectual stimulation)

Adapted Bass & Riggio (2006)0

Characteristics - Transformational

Member 1 Member 2 Member3 Member4 Memb~••

Follower example 1 10 7 9 7 8 set

Follower clarity of 2 7 9 5 8 10 leadership

Inspiration - above 3 7 10 8 6 5 and beyond

Enthusiasm and 4 8 5 9 8 8 energy aura

Concerned and 5 7 7 9 8 5 caring ----, Delegation and 6 9 10 6 9 10 development

Team creativity and 7 9 6 9 8 8 innovation

8 Think different 7 5 8 7 8 0 Participant Average 8 7 8 8 8

• Do you prefer to be the leader, the boss? • Do you relate wisely to money and can place big bets for future returns? • Are you comfortable with uncertainty and huge risks? • Are you totally committed no matter what? • Are you a ‘natural’ when it comes to business? • Are you inspired by entrepreneurs and have networks in family and friends who are success stories? • Have you always been creative and try to make ideas ‘happen’? • Are you good at building teams?

© 0

Real time cases colorful, charismatic, creative leaders:

• Elon Musk • Jack Ma • Steve Jobs

• Advantage is to create a shared basis for class discussions on: • Current headline issues - strategy, competition, leadership, ethics • Bonus is role models 0 • Engagement – real time relevance

Current: • Lifelong passion and creativity in tackling ‘impossibles’ • Tesla • Bootstrap 24/7 Zip2 pioneer in web services • SpaceX • Segue to Paypal disrupt payments and banking • Solar • BHAGs – EVs, Solar power, Space industry, City Mars, Hyperloop, ‘Boring Company’ • Survive – ouster from Paypal, one rocket launch away from bankruptcy • Facing billions in capital deficits but ‘full steam ahead’ • Innovative strategy, marketing and engineering • Taking on Lockheed-Martin and Northrop Grumman and beating them. Falcon 9 and Iridium • Futuristic philosophy – ‘mankind needs interplanetary travel to survive’ • Abiding (messianic?) commitment to sustainability and 0 planetary survival

• Charismatic life-long visionaries • Foresee and exploit long term • BHAGs always trends • Master communicators • Insightful strategic leaders • PR Machines with sense of • Stakeholder oriented humor • Purpose driven • Inspire and drive excellence • Do or die mindset • Innovative, Creative & • Customer delight focused relentlessly driven • Incredibly inspired and inspiring • Fearless risk takers • Fanatically customer focused • Survivors of NDEs • Embed hard driving ‘can do’ • Able to attract the best resources excellence DNA in enterprise • Able to build outstanding teams • Spiritual philosophical 0 • Drive hard reward harder foundation

• Teams select 3-5 most important traits from above and discuss why they are important • How would you help your teammates develop these traits • Who is your favorite ‘role’ model? Why? • What risks do you see for the outstanding companies discussed?

Do Entrepreneurial Leaders Need Entrepreneurial Followers?

ELs are colorful? https://www.youtube.com/watch?v=u-ogswmH00o

Supplemental slides For Reference and Discussion

• Alibaba • Determined to have own enterprise from earliest days • Taobao • First to see B2B eCommerce potential in China and • Expanded to B2C with Taobao/Tmall. Yahoo Tmall serendipity $1bn just in time • Alipay • Expanding to Alipay and banking. • Global investments and alliances • Demanding but rewarding employees • Spiritual foundation in Tai Chi

©Vijay Patel 263 Steve Jobs – ‘Creativity is just connecting things’…’Innovation has nothing to do with how many $$$ you have’

• Apple • Customer delight and design excellence focus • Pixar • Industry defining passion iPhones, music, developer • Next? ecosystems • Ousted from Apple. Saved Apple from only 60 days cash runway…chutzpah money from Gates • Invested and built Pixar most successful computer based animation • Reality distortion field communicator • Spiritual foundation in Zen Buddhism

©Vijay Patel 264 Crises Management and Entrepreneurship Craig Galbraith Director, UNCW Office of Innovation and Commercialization Professor, Technology Management and Entrepreneurship

North Carolina Entrepreneurship Educators Conference, 2018

265 ©Craig Galbraith What is a Crises? An unstable or crucial time or state of affairs in which a decisive change is impending, particularly one with the distinct possibility of a highly undesirable outcome. A potentially catastrophic event.

·:::..""'- Organizational ·--::..-:.·- Crisis

W..'w.fJl'SQllETO Management CRISIS

CRISIS ■ Prl·, l'llt ing & managing I\ll a nagin g l'lH-p()ratl~ ,:ri,t·:-. MANAGEMENT C IUSES B c t'orc.. • ·1·1u.'.Y 4 PLANNING AND ll.11>1>....:.e n -'=JI ,.,.,....wi..,r....,.u_,i._.-1,.. n EXECUTION Miloit "~.~

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V.J. Mnrchosani, Ph.D. ~ 1flll!r -;

V .;'IUS D. SALEH / I lNCW

267 ©Craig Galbraith Types of Crises That Typically .Affects Entrepreneurs and Small Business1s1ness • Natural Disasters • Divorce • Catastrophic Product/Service Failures • Bad PR Activity by Family/Employees • Actions of Suppliers/Landlords • Terrorism, Kidnapping and Protests • U.S. businesses are the #1 target • Fraud and Embezzlement • Cyber Attacks • Loss of Trade Secrets • Illness and Death in Business Owners • Personal Injury Claims

268 ©Craig Galbraith International Terror Attacks Against the Flcure 7. Tactics used In Terrorbt Attacks In the United St~es, 19~2011 Unarnwd MAUil HoslqeTaklrc 1.47% KostageTakinc U.S., 1969-2009, by Target (1Cidnal)4)inc) ,..... (l!,arriude Incident} 0.49% Target Number %of Total Businesses 908 31.5% Diplomatic Offices 769 26.7% M1lttary Institutions 368 128% Religious Figures/Institutions 203 7.

CRISES a) Honesty b) Assessment

TRO(JSL.E PAIN c) Direction BANKRUPTCY \...0 ss "'oHORROR o'i:.£>' J' ~~,cs ~ ~r

PRE‐CRISES POST‐CRISES a) Evidence a) Rebuilding b) Acknowledgment b) Recovery c) Resolve c) Reform ~ lNCW

CRISES AUDITS CONTINGENCY PLANS a) Susceptibility Audits a)Probability v. Impact b) Capability Audits

PRE-ESTABLISHED TEAMS RULES OF BEHAVIOR a)Power a)Maintain Ethical Stance b)Knowledge and Training b)Don’t Fight Press c)Outside Expertise c)Work with Public Opinion d)Formal Paradigm Challenges d)Designate the Communicator

271 ©Craig Galbraith Example ‐ Divorce • At first hint of trouble, learn the Equitable Distribution laws in North Carolina, and retain an ED attorney that has experience in your type of business • WHY? –your business is a marital asset, just like your house • Talk to a valuation expert who can properly value your type of business (your business will need to be appraised ‐ properly) • Know the difference between ED and corporate laws (fiduciary responsibilities) • Is your spouse also a 50% shareholder, and/or hold an officers position • If the married couple both work in building the business, after “split” one will have an advantage with customers/suppliers to create a competing business • Ex. Gymnastics business • Don’t play games with the business after the separation, such as creating losses thinking that that will lower your payments to spouse • Always be honest in reporting ~ lNCW

272 ©Craig Galbraith Example –Natural Disaster • Side Note (experience from 7 Hurricanes) – • Local Small Business are most committed to their community (Last to Close, First to Open) • Transient Entrepreneurs help recovery • Stage prior to disaster, first on scene, arbitrage needed services/products, can be accused of price gouging • Crises Management • Preparation (for the worst case scenario) • Insurance • Not only wind/flood/property” but also “business interruption” insurance • Quick post‐event recovery plan (that considers all elements of recovery, not just physical loss)

273 ©Craig Galbraith Common Oversight by Entrepreneurs • Form a limited liability firm (Corporation, LLC, etc) • Follow all of the corporate requirements (shareholder meetings, board of directors meetings, taking minutes and votes), no matter how silly they seem • The first thing an attorney will do is ask for the business records to “pierce the corporate veil” • Keep government filings current

Entity Name

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How to address entrepreneurship in disadvantaged rural, poor, and urban areas in North Carolina.

fl) CAMPBELL UNIVERSITY

01oom~ngron I\OKro Lafacrene OHIO 0 ILLINOIS Cham;algn IN DIANA • ijj Qui,rq Spri~field Colu~bus w Zanesville DecJtur Sprin,11field Qi Indianapolis ijj Oa~ on 0 Han:,,~ C Morgantown

Terre Haute ij!j 0 Ha~lton ijj At~• Park~sburg Cincinnati olumbia C 0 ,,.,,... Monongahela ijj . National Forest H effer5c,on City Chesterfieldo51· ~OUJS WEST w Hunt1~gton VIRGINIA George OURI Washington Louisville Frankfort and Jefferson C O ei Lexi~gton National Forest Evangville Owensboro Mark Twain ijjCa,boodale• Ma!oon 0 National Forest Shawnee Roa~oke National Forest KENTUCKY Blacksburg o c:pe ij; Girardeau Bowli~ Green Daniel Boone ij'j National Forest

Clar~sville w ' W Cherokee Greensboro Winston-Salemo o Nas~ville ijj National Forest Kno~ville ijj 1,11 NOR ijj Franklino Murfreisbofo ~ForQe t-tiekoryo ijj CARO TENNESSEE Cha~otte ~ Nantahala Memphis National Forest + Chatttnooga oRock Hill O Col :ville Gree~wille oSpananburg Southaven Florence Chattahoochee ij; SAS Hun'lville National Forest Go gle DecJ1tur 0 v I Ant1Pr$:nn ·-~

Startup Ohio State Community IBM NC Central Duke Western Kentucky Elon University Campbell Morgantown, KY

CAMPBELL UNIVERSITY

1 week to turn a disadvantaged youth into an emerging entrepreneur?

fl) CAMPBELL UNIVERSITY

H 01\V

Rejection

©Scott Kelly 280 6 I , • - .. • • • • I Startup High Locations . . 0 VIRGINIA Roanoke ijj ijj 0 Newpoi;t News I Boone Hillsborough Virginia Beach _ _,,N..,o""'rfo~l_k v· . . al Forest """ 0 irg1ni Graham Durham Burlington Raleigh

Mebane Campbell U. Charlotte RTP

Greenville oSpartanburg ttahoochee 0 Pinehurst onal Forest

0 Anderson Florence 0 aretta - 0 W Athens 0 SOUTH nta CAROLINA Myrtle Beach 0

0 Augusta ijj

W Summerville 0

BYWESPLATT [email protected]; 919-419-6684 ifteen students from around the Triangle and beyond got a Fcrash course last week in what it takes to make it as a 21st century entrepreneur. The first-year program, known as Startup High, is the brainchild of Durham small business advocate Scott Kelly. For five days, he took the teens around downtown Durham and the American Tobacco Campus, introducing them to business leaders and letting them ask questions as they pondered their own ideas for small business opportunities. On Wednesday .morning, students The Herald-Sun I Meftssa MeMn-Rodrlg Michael Parker, 16, presents his project, a collaboration with the local business Dos Perros, SEE BUSINESS/PAGE 02 fellow students In Startup High !nslde the conference room at Bull City Forward on Friday.

How do we connect disadvantaged populations to entrepreneurs?

fl) CAMPBELL UNIVERSITY

Research from Expanding networks of disadvantaged entrepreneurs from Dodd and Keles

Acquiring Opportunity Validating Identifying Negotiating Birth and >Motivation ~ Perception ~ Idea ~ Resources ~ into business ~ Survival >

Age and/or Entrepreneurial IQ

fl) CAMPBELL UNIVERSITY

North Carolina is ripe to increase connections between disadvantaged communities + NC entrepreneurs

fl) CAMPBELL UNIVERSITY

©Scott Kelly 292 Bladen Community IS College Webinars for Rural Student Centered • Future Focused Entrepreneurial Education COMMUNITY CCOLLEGES CREATING SUCCESS Todd Lyden, Bladen Community College SBC

- Started in 1984 with the funding of eight small business centers by the North Carolina General Assembly. - By 1995, at least one Small Businessusiness Centercenter was established at each of the~ 58 community colleges.

t Your busin s . B tt r.

The objective of the Small Business Center Network (SBCN) is to increase the success rate and the number of viable small businesses in North Carolina by providing high quality, readily accessible assistance to prospective and existing small business owners which will lead to job creation and retention. Each Small Business Center (SBC) will be a community-based provider of education and training, counseling, referral and information.

● Free, confidential one-on-one business counseling services ● Resource and referral information for a variety of business needs ● High-impact seminars and classes available free of charge or for a minimal registration fee

W~ttm

-Bladen CC

-Fayetteville Technical CC

-Montgomery CC

-Richmond CC

-Robeson CC

-Sampson CC

-Sandhills CC

-Southeastern CC

© Todd Lyden 303 Bladen Community Sandhills JS.: College Region Student Centu~ • Future Focus~ ~I Sandhills COM IAUNITY COlUGI ,_,_c:o,,,,,.,-,,c.- • ~-----'------'------' SAM PS@N COMMUNITYCOLLEGE ~COMMUNITY COLLEGE www.ncsbc.net ~utheastern ~~urutyedlege

Spring 2017 March 2018 Webinars at Bladen CC Regional suggestion and planning

2017 2018

l August 2017 June-August 2018 Test slate of webinars Six regional webinars held

© Todd Lyden 305 After testing multiple webinar platforms for price, ease of use, and reliability with attendees, ZOOM WEBINARS was selected based on price, capability, and ease of use.

© Todd Lyden 306 June 19 59 pre-registrations 27 attendees. Jalisha Richmond, NC Rural Center: “The June 19th Fueling Your Business webinar hosted by [the Sandhills Region of NCSBCN] was well-organized and made delivering the content across the Sandhill region super-efficient and easy. The technology used to deliver the webinar was extremely user friendly. The webinar offered Thread NC Rural Center Capital/Rural Center the opportunity to reach its Jalisha Richmond, biggest audience of SBCN clients at once over my 2 “Fueling Your year career at the Rural Center. I plan on not only Business” doing other webinars in the Sandhills region but over the other SBCN regions as well.” Webinar on new Thread Capital

© Todd Lyden 308 July 10 70 pre-registrations 31 attendees. Joe Tew, NC Military Business Center “The regional webinar is an easy-to-use, cost and time efficient and operationally effective resource for connecting users to valuable information sources. It eliminates the distance barrier and conserves the NC MBC most valuable resource, time. As a first time user Joe Tew and presenter, I found the platform to be intuitive “Doing Business with and comfortable to use.” the Federal Government”

Broadband availability

Marketing capabilities

97 Registrations

31 Attendees I

➔ Carolina Support Fund 65 Registrations

28 attendees

➔ SBTDC 45 Registrations

14 attendees

-AFFORDABILITY - DIFFICULT TO SELL -REGIONAL WITHOUT REGIONALLY FUSS - LACK OF -OUTREACH -NEW AUDIENCE INFRASTRUCTURE - LACK OF BUY-IN

Experimenting More regional Use resource to with schedule- efforts attract more clients Topics, days, One-day “virtual times summit”

Schools are More “hard to What to do about addressing book” presenters RECORDED needed format will consider video/webinars?

JOIN.ME- SMALL NUMBERS

GOTOWEBINAR

WEBEX

University of North Carolina, Wilmington November 2, 2018

The Future of Entrepreneurship Education

Presented by: DR. ALEX F. DENOBLE Executive Director and Professor of Entrepreneurship Lavin Entrepreneurship Center San Diego State University

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

• Rapid diffusion of technology • Web 4.0 as an enabler • Greater reach to world wide markets • Rapid testing and feedback of ideas • The emergence of billions of new entrepreneurs...... Who will be the winners and losers in the economic race to the future? ["1 SAN DIEGO STATE l1J UNIVERSITY L~vin Entrepreneurship Center A global leader in entrepreneurship Flowler Coll~ of811si11m

©Alex DeNoble 320 mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

The “at risk” student is the one unprepared for the entrepreneurial age…..

Professor Michael Morris

["1 SAN DIEGO STATE l1J UNIVERSITY L~vin Entrepreneurship Center A global leader in entrepreneurship Flowler Coll~ of811si11m

They must develop in themselves the skill sets and competencies that will enable them to compete in a highly dynamic environments

~ SAN DIEGO STATE l1J UNIVERSITY Lavin Entrepreneurship Center A global leader in entrepreneurship Fl

To help your students develop the skill sets and competencies that will enable them to compete in highly dynamic environments

~ SAN DIEGO STATE l1J UNIVERSITY Lavin Entrepreneurship Center A global leader in entrepreneurship Fl

• Recognizing Trends • Assessing Opportunities • Conveying a Compelling Vision • Creative Problem-solving • Leveraging Resources • Mitigating and Managing Risk • Planning When Nothing Exists • Innovation---Developing Ideas that Work • Building and Managing Social Networks • The Ability to Maintain Focus Yet Adapt • Implementation of Something Novel or New

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

["1 SAN DIEGO STATE l1J UNIVERSITY L~vin Entrepreneurship Center A global leader in entrepreneurship Flowler Coll~ of811si11m

• Artificial Intelligence / Big Data • The Internet of Things: IoT • Blockchain • 3-D Printing • Wireless Healthcare • Crowd Funding • Social Media • Mobile Devices • Emerging Education Models • Alternative Energy Solutions

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

• Machine learning that mimics the human mind • Identifying emerging trends • Predicting consumer behavior • Genetic testing and evaluation

If the root of your responsibilities is to flawlessly repeat a process or a procedure, a machine will soon do it better, faster and cheaper and more reliably than you mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

• Advanced connectivity of devices • Emergence of new smart devices • Wide array of applications (i.e. smart homes, smart cities, smart automobiles etc.)

Where do you see opportunity here?

["1 SAN DIEGO STATE l1J UNIVERSITY L~vin Entrepreneurship Center A global leader in entrepreneurship Flowler Coll~ of811si11m

• A Growing list of linked records • Time stamped – unalterable • Verification .... - , .,. .. ',l . ~ . • Community records extending . • .J . across the globe .. .. "'- •·· I , • " ,✓l '· Applications • Cryptocurrencies – i.e. Bitcoin • Asset management • Cross border payments • Supply chain

~ SAN DIEGO STATE l1J UNIVERSITY Lavin Entrepreneurship Center A global leader in entrepreneurship Fl

Shred Lights •Prototype development and testing •Portable 3-D Printers •Enables a “Design Thinking” Mentality

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

Greater demands on the healthcare system Delivering cost effective quality healthcare Storing & retrieving medical records

~ SAN DIEGO STATE l1J UNIVERSITY Lavin Entrepreneurship Center A global leader in entrepreneurship Fl

• Reaching more potential 2,316 investors 1>aektn $147,444 • Great for early stage ptUgiO Of$ 100.000 90al companies 0

,..,"'IPffl<,d • Emerging regulations to OK: ~12·.bn II 201J!l4Cl.l>•l protect consumers

["1 SAN DIEGO STATE l1J UNIVERSITY L~vin Entrepreneurship Center A global leader in entrepreneurship Flowler Coll~ of811si11m

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Enabling global reach to potential customers Immediate impact on brands (+/-) Rapid feedback on new product ideas

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entrepreneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

New opportunities in location based services More bandwidth & data pushed to mobile devices New developments in wearable technologies

~ SAN DIEGO STATE l1J UNIVERSITY Lavin Entrepreneurship Center A global leader in entrepreneurship Fl

Solar wind and water options Smart grid applications Energy storage

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

Free on-line courses Cl.)Ursera KHAN Easy access to tutorials A A')f~V on any subject! Multi-cultural virtual demy classrooms

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

An opportunity to create something new: The Virtual Choir

https://www.ted.com/talks/eric_whitacre_a_virtual_choir_2_000_v oices_strong

mJ SAN D IEGO STATE l2J UNIVERSITY L.avin Entre preneurship Center A global leader in entrepreneurship Flow/er Colley< of8 11si11m

WIN.NERS Take charge of your future, MAKE IT HAPPEN UllfCTl(IM\

Dr. Leonard H. Lavin Founder, the Alberto Culver Company

["1 SAN DIEGO STATE l1J UNIVERSITY L~vin Entrepreneurship Center A global leader in entrepreneurship Flowler Coll~ of811si11m