Plenary 2 Intrapreneurship Actuaries | Actuaries.org.uk
Transcript of Plenary 2 Intrapreneurship Actuaries | Actuaries.org.uk
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Simon Paine
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WHAT IS AN ENTREPRENEUR? A person who organises and operates a business or businesses,
taking on greater than normal financial risks in order to do so.
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• Make things happen
• Solve problems
• Make money
• Bring people together
• Bouncebackability
• Innovate
• Make the world a better place
WHAT DO THEY DO?
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Make money have fun do good.
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What’s stopping you?
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WHAT’S STOPPING
YOU?
Finance 29%
Confidence 22%
Planning 14%
Knowledge 15%
Sales 10%
Situation 5%
Team 5%
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TRADITIONAL APPROACH
• Write a business plan
• Consider the legalities and business structures
• Apply for funding
• Invest in a premises
• Buy advertising
• Make money in year 2
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LARGEST TAXI COMPANY?
LARGEST MEDIA COMPANY?
LARGEST RETAILER?
LARGEST ACCOMMODATION PROVIDER?
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ENTREPRENEURSHIP HAS CHANGED
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HOW TO START A BUSINESS IN 120 MINUTES
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BUILD A WEBSITE FOR FREE
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COMPETE FROM YOUR BEDROOM
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TECHTEAM GB STATS • 3.76m views
• 350K views every month
• >22K subscribers
• 500,000 minutes watched per month
• 13 viewers every minute of every day
• Watched in all but 3 countries
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LACK OF INNOVATION
KILLS
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ONLY 25 REMAIN
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OF THE THESE HAVE RECENTLY EXPERIENCED A SIGNIFICANT DOWNWARD
TREND
22
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LACK OF INNOVATION
KILLS
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Where do a company’s ideas come from?
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CREATIVE
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DISRUPTIVE
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CHALLENGE
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THE COST OF INTREPRENEURSHP
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#FAIL
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HOW TO MITIGATE FAILURE • Reputation – experimenter and innovator
• Behind closed doors
• Without the brand
• Some of your people are already doing it
• Getting comfortable with failure
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7 PRINCIPLES OF INTRAPRENEURSHIP
1. Build ideas; collaboration
2. Solve problems without authority
3. Ability to pitch
4. Take rejection, bounce back
5. Super-action orientated
6. Ask for forgiveness not permission
7. Create and build: prototyping
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How can you be more intrapreneurial? @simonjpaine