Thinking Like an Entrepreneur: Key Lecture Takeaways

Introduction

• Entrepreneurial thinking benefits all career paths (chef, hotel manager, aviation, etc.).
• Sets you apart in job interviews, promotions, career advancements.
• Being entrepreneurial involves identifying problems, taking initiative, and thinking ahead.
• Examples: Hotel manager improving check-in, chef using surplus ingredients, flight attendant enhancing guest experience during delays.

Course Journey Outline

• Starts with an idea: Leads to a business pitch.
• Tool used: Lean canvas - a one-page map for ideas.
• Goal: Develop skills to think, solve, and create entrepreneurial solutions.

Understanding Entrepreneurship

• Not just launching companies.
• Identify real problems to solve; failure often due to lack of need.
• Ask key question: "What real problem am I solving?"

Identifying Your Audience

• Pinpoint the target audience: tourists, students, foodies, remote workers.
• Create customer personas to understand real needs.
• Collaborate to interview a successful local entrepreneur.

Developing Your Business Idea

• Define unique value proposition - why choose your idea over others?
• Sketch initial solution: flyer, concept menu, or Instagram post.
• Determine audience reach: apps, pop-ups, digital campaigns.

Financial and Feasibility Planning

• Analyze potential revenue, customer base, pricing, startup costs.
• Present progress and receive feedback.
• Students often realize their ideas are actionable.

Defining Success

• Consider success metrics: bookings, repeat customers, rave reviews.
• Identify unfair advantage: location, backstory, creativity.
• Learn to pitch ideas clearly and confidently.

Capstone Project and Final Presentation

• Present group capstone project: business idea, plan, and vision.
• Pitch individual idea: could be a cafe, food brand, travel app, etc.
• Emphasizes the importance of a new way of thinking.

Conclusion

• Finish with a completed lean canvas and real-world experience.
• Develop an entrepreneurial mindset applicable to any career.
• Gain lifelong skills in leading, building, and adapting.