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to start: ? No money ? Family burden ? No personal work ? Not smart enough ? No time ? No supporting partners ? Too risky ? Too old Rich Dad said: Creating a business ? is like jumping out of a plane with no parachute ? how fast one can construct a parachute under free falling ? Most got hit on the ground seriously ? Rebound is difficult but not impossible Cashflow Quadrant ? Being Employed ? It’s a job the Cashflow Quadrant is the trade mark of Robert T. Kiyosaki as extracted from the book, Rich Dad’s Guide to Financial Freedom ? Self employed ? It’s your own job ? Start your business ? Someone work for your ? Invest your money ? Money works for you TM Can you be an entrepreneur? Two sets of basic skills 1. Are you willing to start and take the risks? Entrepreneurship, French word “to undertake” 。 “to do things with your own hands” A startup must have a lot of risks. It’s not for someone who want safe and stable payroll 2. Can you sell? No resources but your idea and presentation devices Be able to anize your idea, then sell it to your family, friends and anyone else Created by Kevin Au of the CUHK Center for Entrepreneurship What is Entrepreneurship? Created by Kevin Au of the CUHK Center for Entrepreneurship To pursue opportunity without regard to resources currently in hand opportunity a market, preferably large and fast growing resources currently in hand entrepreneurs find resources as they pursue the opportunity vs. managers look at the amount of resources at hand and decide what opportunity to pursue Inborn Entrepreneur ? A desire to achieve ? Hard work ? Nurturing quality ? Acceptance of responsibility ? Reward orientation ? Optimism ? Orientation to excellence ? Organization ? Profit orientation extracted from Business Horizons,