Instilling The Entrepreneurial Spirit at Toyota

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Entrepreneurship Boot Camp Overview
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Why is Entrepreneurial thinking important?
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Wealth in the new regime flows directly from
innovation, not optimization that is, wealth is
not gained by perfecting the known, but by
imperfectly seizing the unknown.
Why do we need to think differently? Because The
World Has Changed

• Kevin Kelly,
• New Rules for the New Economy, Wired

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Wealth in the new regime flows directly from
innovation, not optimization that is, wealth is
not gained by perfecting the known, but by
imperfectly seizing the unknown.
Because The World Has Changed

• Kevin Kelly,
• New Rules for the New Economy, Wired

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Why Entrepreneurship? Because the Old Models are
broken
Fortune Magazine October 2nd, 2006 The great
challenge of our era? Getting companies to change
quickly enough to survive a world that's crazier
and riskier than ever. Bill Ford finally joined
the club just before Labor Day weekend. That's
when he became the latest chief executive of a
giant corporation to cop publicly to the most
fundamental and alarming of business problems
His business model doesn't work anymore. He did
it in an e-mail to all of Ford Motor's employees,
saying, "The business model that
sustained us for decades is no longer sufficient
to sustain profitability."
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From the London Times
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New Venture Executive

• be a senior executive, joining
• a small team,
• extracting commercial value from our technology
• an individual who can challenge conventional
  thinking to identify opportunities.
• Promote our expertise, build productive
  partnerships,
• find new opportunities
• and lead the formation of New Ventures

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Chief Growth Officer

• Avery, Dennison
• Our Corporate Leadership Team has created a new
  and innovative role
• This position is well suited for some who has
  been or is currently an entrepreneur. (TJO Added
  or can think and act like one)
• Reason for role Group VPs are day to day
  operations but are not very focused to fill the
  gaps.
• 300 to 400K to start plus bonus benefits

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What is the difference between an enterprising,
innovative manager and an entrepreneur?
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Know the reality of an E journey

• Entrepreneurship is a journey (not an event)
• It is about running a marathon and not about
  getting to the start line.
• Profile of successful entrepreneurs
• 2.3 ventures
• 3 to 5 years of industry experience
• 4 to 7 years after an educational experience
• More ventures start from pain and need than come
  from the great idea (Vitamins versus Cipro)
• You need to meet to 250 strangers

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You will learn to think in a different way

• Entrepreneurship requires a different way of
  looking at the world. How, when and where you
  use these new skills sets are for you to decide.
• You will demonstrate as part of this boot camp,
  the ability to identify, define, test and deliver
  a viable concept.
• Your concept will be structured using selected
  tools of Feasibility. It will be executed using
  the Business Plan.

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What are the reality of start ups

• Interview 100 individuals who want to start a
  business and dont, and ask why not?

• I never had the great idea, the killer app
• I couldnt give up my day job,
• (mate wont let me)
• Never found anyone to give me a million bucks

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Two final thought .. 1 Process versus
Structure
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How many of you are prepared or have already
made the mind change to be a CEO of an important
entity?
2 Are You CEO Material
You already are the CEO of a great company and it
is called
YOU, Inc
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• Tom OMalia Orfalea Chair for Entrepreneurial
  Studies 213.821.0917
• 213.713.5764 cell
• tomalia_at_usc.edu
• Lloyd Greif Center Marshall School of
  Business University of Southern
  California Bridge Hall One Los Angeles, CA
  90089-0801