Successful entrepreneurs – leaders who are followed by loyal employees, pursued by investors, admired by many, encouraged by governments – have achieved new status as respected role models, some even as heroes. All that and meaningful prospects in financial success, sometimes wealth beyond most people's dreams.
As an outsider looking into the world of entrepreneurship, the challenge may seem daunting or even overwhelming. If you stay outside, that won't change. That's why I'm offering to be your guide, to go inside.
Come join me in this wonderful journey, and I can help you make your time and effort more efficient and more productive, improve your chances of becoming a successful entrepreneur.
- the underpinnings of entrepreneurship, what has worked and what has not;
- how to do what is needed to get started, to reinvent and innovate, and even how to develop the elements of business visions;
- the process of raising funds and dealing with investors, before and after funding;
- how to attract and retain key people, and when appropriate to replace key people.
- doing the right thing. Being honest and fair is not at all contradictory to being successful. In fact, good business behavior can facilitate success.
- a lot of real stories of successful American entrepreneurs. I have writen and published three books that were translated into eight languages. They contain hundreds of stories of successful entrepreneurs, including Howard Schultz, the founder of Starbbucks; Frederick Waddell, the CEO and Chairman of The Northern Trust Company; Fred Smith, the founder and CEO of FedEx; Ken Keverian, the senior V.P. of Corporate Strategy of IBM and Kay Koplovitz, the founder of USA Network, etc.
While your goal may be to make a fortune or just to earn a good living, you really must have more precise goals. Such a goal may be as simple as "being your own boss", but for many entrepreneurs, there will always be "bosses", because good governance demands advisers, and capital usually necessitates yielding some influence and diluting what would have been your absolute control.
This course is patterned after the "Successful Entrepreneurship" course I created and taught at Kellogg. That class was continually oversubscribed. Students were excited to hear and learn from the stories of great American entrepreneurs, such as the founders of Starbucks, Costco, Staples and many more.
Some people say, there are more important pursuits, such as, curing cancer or other diseases, helping poor people, and improving education. Of course, those are important, but those pursuits are often achieved, supported and funded by successful entrepreneurs.
Begin your journey today.
Be a hero to the society, your families and friends.
And remember, on an important journey, making quick time is secondary to knowing where you are at and what paths to take to get to the right destination.
Lloyd E. Shefsky received his J.D. from the University of Chicago Law School. He’ s a prominent Jewish-American professor and entrepreneur. He was the clinical professor of family enterprises at the highly rated Kellogg School of Management at Northwestern University, where he is also the founder and the co-director of the Center for Family Enterprises and co-founder of the Center for Executive Women. And he is also the founding member of the Kellogg-Recanati International EMBA Project Advisory Committee. Professor Lloyd has served, by gubernatorial appointment, on the Board of the prestigious Illinois Institute of Entrepreneurship Education. He also serves on Boards of Directors of private and public companies.
Professor Lloyd is an internationally renowned expert on entrepreneurship and a corporate leader mentor. He has interviewed more than 200 of the world's most successful entrepreneurs, including the founders of Starbucks, Staples, Costco and even the Senior Adviser of Barack Obama, the former U.S. President. He is the author of the best-selling book Entrepreneurs Are Made, Not Born, published by McGraw-Hill and translated into seven languages; Invent, Reinvent, Thrive, published by McGraw-Hill; and Visionarie$ Are Made, Not Born. He is now on a case study of succession in a family business and has done case studies in entrepreneurship (pricing the sale of a business; planning exit strategy) for the Kellogg School. He has taught courses, lectured and spoken in China, Japan, Thailand, Canada, Israel and throughout the United States.
Professor Lloyd has received great amounts of honors, including Entrepreneur of the Year Award from Ernst & Young and Merrill Lynch for his support in entrepreneurship; the Civil Rights Award from the Anti-defamation League; the Industrialist of the Year Award from the America-Israel Chamber of Commerce; and the Award of Excellence from the Sports Lawyers Association.
He advises entrepreneurs on a broad range of legal, financial and business matters, including public and private capital funding, mergers and acquisitions, employee motivation and expansion. He also counsels family businesses on succession, governance, employment, philanthropy, family education, etc., and was also invited to give lectures on his experience in numerous top business schools and alumni events, including Harvard University, the Wharton School of the University of Pennsylvania and Peking University. Professor Lloyd delves into various academic fields, including Entrepreneurs and Securities, Entrepreneurs and Bankruptcies, Family Succession and Cultural Inheritance, and Family Enterprise Governance.
- Clinical Professor of Family Enterprises
- Founder and Co-director of the Center for Family Enterprises
- Co-founder of the Center for Executive Women at Kellogg School of Management of Northwestern University, USA
- Founding Member of the Kellogg-Recanati International EMBA Project Advisory Committee, USA
- President of Illinois Institute of Entrepreneurship Education, USA
- Best-selling Author of three books – Entrepreneurs Are Made, Not Born; Invent, Reinvent, Thrive; Visionarie$ Are Made, Not Born
- J.D., University of Chicago Law School, USA
- CPA, University of Illinois, USA
- B.S., DePaul University, USA
- Past President, Recipient of 1992 Industrialist of the Year Award, America-Israel Chamber of Commerce
- Founding President and President Emeritus, Recipient of 1993 Excellence Award, Sports Lawyers Association
- Former Associate National Commissioner, Regional Board of Directors, Co-chair of Regional Civil Rights Committee, Recipient of 2002 Civil Rights Award, Anti-defamation League
- Invited to give speeches at numerous top business schools and alumni events, including Harvard University, the Wharton School of the University of Pennsylvania and Peking University
Entrepreneurs and Securities, Entrepreneurs and Bankruptcies, Family Succession and Cultural Inheritance, Family Enterprise Governance.
CH01 Nature of Entrepreneurship
1.2 What Is an Entrepreneur?
1.3 Entrepreneurial Opportunities
1.4.1 Naysayers – What Are They?
1.4.2 Naysayers – How to Handle Them?
1.5 Select Attributes
1.6 Should You Become an Entrepreneur?
CH02 How to Start a Business
2.1 What Is Needed Generally?
2.2 Finding Opportunity
2.2.1 Finding Opportunity-What Kind?
2.2.2 Finding Opportunity-Where?
2.3 Validation of Idea/Proof of Concept
2.3.1 Validation of Idea
2.3.2 Proof of Concept
2.4 Protecting Idea
2.5 Business Model/Pricing
CH03 Financing New Businesses
3.1 Whose Money to Use
3.2 How Much Money Do You Need?
3.3 Pricing for Financing
3.4 Financing Structure & Documentation
3.5 Hide & Seek vs Disclose & Seek
CH04 Personnel & Compensation
4.1 Key Employees
4.1.1 Who Entrepreneurs Do Hire
4.1.2 Who Should Entrepreneurs Hire
4.1.3 Reasons for Discrepancy
4.2.1 Key Employees: Essence, Goals & Techniques
4.2.2 Entrepreneurs: Factors
CH05 The Right Thing (Ethics for Entrepreneurs)
5.1 Right Thing for Entrepreneurs
5.2 Elements of Right Thing
CH06 Communication & Marketing
6.2 Marketing vs Selling
6.3 Selling - What to Avoid
6.4 Selling Principles
6.4.1 Know What You Are Selling
6.4.2 Know Your Audience
6.4.3 Know How You Will Sell - Frame Your Message
6.4.4 Know How You Will Sell - Style
6.4.5 Know How You Will Sell - Presentation
6.5 Distinguish Entrepreneurial and Managerial Communications
6.6 The Sound of Silence
CH07 New Thing
7.5 Multi-Disciplinary Approach
8.2 Examples of Reinvention
8.3 Examples of Business that Didn’t Reinvent
8.4 What Not to Reinvent
8.5 Reinventing to Be Something Old
8.6 Reinvention Within Family Business
8.7 Reinvention - Best Age
9.1 Nature of Visions and Visionaries
9.1.1 Popular View of Visionary
9.1.2 Reality of Visionaries
9.2 The New Reality of Visions & Visionaries
9.2.1 Elements of Visions: Forest-and-Tree Vision
9.2.2 Elements of Visions: Beyond-the-Eaves Vision
9.2.3 Elements of Visions: Trend Pattern Vision
9.2.4 Elements of Visions: Rapid Action Vision
9.2.5 Elements of Visions: Retro Vision
9.2.6 Sources of Visions