An entrepreneur is someone who is always on the lookout for problems that can be turned into opportunities and finds creative ways to leverage limited resources to reach their goals. In this course, learners will be introduced to the fundamental concepts, theories, and frameworks of entrepreneurship and learn how to apply them within the context of the world's largest market: China. Through cases, articles, and experiential learning, learners will gain expertise in how to identify and evaluate opportunities; interpret, analyze, and build financial models to enable high-growth ventures; practice living life as an entrepreneurial leader; and create a new product or service for the Chinese market.
From the lesson
Module 1: What Is Entrepreneurship?
In this first module, you will learn to appreciate the mindset of an entrepreneur. If you are thinking of starting your own business, it is critical for you to adjust yourself to be one if you want to succeed.
Associate Director, EMBA Program, Associate Professor of Practice in Entrepreneurship, Project Director, Centre for Entrepreneurship Department of Decision Sciences and Managerial Economics
Thank you for coming to talk to us.
(Thank you Dominic) I know you have been an entrepreneur
for a number of years now.
Could you share with us a little bit on your journey …
how you become an entrepreneur?
So, I first started about four years ago. So, the company
basically started because I used to work
actually with an NGO that worked with a lot of
students across China.
So we did a lot of mobilization campaigns and I realize that students
have a lot of passion and they want to do
a lot of projects but there may not be lot of
access to funding for them to actually make
these ideas happen. So, after working with the
NGO, I thought maybe we can find a way to
sustainably match students with sponsorships
and that's how Launchpilots started.
So, you actually have worked in a NGO that already
doing something similar and you discover a gap,
in this case, the student community. Right.
But why would you want to become an entrepreneur
because that’s quite a big step from, e.g., from working for a corporate?
Em… honestly I didn't want to become an entrepreneur.
(Okay) I always thought I would work in the
social sector. But … even after working
with some sort of social impact organizations,
I felt like nobody felt strongly enough about this issue of empowering students,
like university students especially, to do
anything about it. So, yeah, kind of out of
frustration I decided … somebody needs to do
something and I started.
Interesting, you thought you were going to work for company …or
like, at least work for NGO and so on, not
actually becoming an entrepreneur. So, it’s
almost by accident in that sense.
Yeah, actually when I first started Launchpilots,
I thought we were going to be a non-profit and
we started as a non-profit. (Interesting.)
And it’s funny cos a lot of … we got a lot of
feedback in the early days that oh, people didn't
understand whether we were for-profit or non-profit and then we
gradually tried different models and we found that
actually a profit-making marketplace work the best. So, that’s
how we ended up.
Now, you also met a lot of other entrepreneurs through a number of
programs. I know there are accelerator programs
and then there are also like some competition
and pitch events. What about other entrepreneurs,
do you think they are … what about
their stories, do you think they are more,
like, by design, by default, or accident like yours?
Hmm, I mean I think there are portion,
but maybe a smaller portion of entrepreneurs
who, I guess, who are inspired by a problem
that they felt very strongly about. (Right.)
And I think definitely there is a large
portion of people who are more opportunistic.
They see an opportunity in the market so they
decided to do it and then there's another
small portion who just thinks that entrepreneurship is cool