CCI Entrepreneurship Curriculum Module 1 Introduction to Entrepreneurship

CCI Entrepreneurship Curriculum Module 1 - Introduction to Entrepreneurship in the Cultural and Creative Sector

Getting to Know Each Other Your Self-Portrait Draw your self-portrait using your nondominant hand share with the group!

Getting to Know Each Other Let’s make some Outrageous Introductions! “To my right is the inventor of the paper clip, in addition, he cornered the high tech market in 1996 and is the fourth wealthiest man in the world. He is the man who taught Tiger how to golf and is Usain Bolt’s personal trainer. Ladies and gentlemen it is my pleasure to introduce you to…. ”

Module 1 Overview Agenda: v Unit 1 – Introduction to the Cultural and Creative Sector v Unit 2 – Becoming a CCI Entrepreneur v Unit 3 – Understanding Entrepreneurship in the Cultural and Creative Sector

Defining Entrepreneurship in the CCI Sector Entrepreneurship in the cultural and creative sector (def. ): “Entrepreneurship in these sectors means to have creative ideas and to pursue them in a commercial way, with the purpose to make a profit. However, the profit alone is not the driver; it is the creativity and the possibility to build something, the self-fulfilment or being able to pursue your own creative interests. There is a mix between the entrepreneurial side and the creative side. ”

Defining Cultural and Creative Entrepreneurs Cultural and creative entrepreneurs: CCI entrepreneur can be described as the person that runs a cultural or creative organisation that is: • driven by an explicit strategic cultural mission; • taking risks in balancing creative and management values; • contributing to growth in this important economic sector.

Unit 2 – Becoming a CCI Entrepreneur

Defining CCI Entrepreneurs Cultural and creative entrepreneurs have specific characteristics: • they operate in difficult market conditions; • produce goods that are 'cultural' by nature; • work with people that are often more content‐driven than commercially oriented; • usually create very small enterprises that exist on the basis of more permanent networks.

Purpose, Impact, Drive and Motivation of CCI Entrepreneurs Purpose • What makes you wake up every morning and work? • What makes you to continue improving? • Do your business connects with your purpose? • What is your longterm vision? • How your team perceives this purpose? Are they committed to it? Motivation Impact Drive • A new company is not necessarily startup • A business person is not necessarily an entrepreneur • The level of selfemployment is not necessarily an indicator of entrepreneurial activity • Creative destruction • Only a few people have the drive to become entrepreneurs • willingness to bear risks; • openness to experience; • belief in their ability to control their own future; • and extraversion. • Individual motivation • Gender, Education, Age • Racial & Ethnic background • Others • Contextual motivation • National wealth, Economic Growth & Resources • (in)Formal Institutions • Multi-dimensional

The Entrepreneur’s Purpose purpose~team • Create your long-term vision/purpose • Ask your team to imagine what achieving your purpose looks like in their everyday goals and the concept becomes much more concrete. • Get people engaged at every level of the company. • Survey your employees on a regular basis to measure how engaged and committed they feel to their work. purpose~business Further readings: THE ENTREPRENEUR’S PURPOSE How EY Entrepreneur Of The Year® Award Winners Outperform and Outlast the Competition-Harvard business review • Purpose needs to be a central part of an organization’s culture—something people feel in their work every single day. • “People don’t buy what you do; they buy why you do it. ” (Simon Sinek) purpose~organisation

Positive Impact Entrepreneur’s Impact - Entrepreneurs face a substantial risk of failure, and the costs are sometimes borne by taxpayers - Entrepreneurship cannot flourish in an overregulated economy Further readings: Entrepreneurs and their impact on jobs and economic growth – Alexander S. Kritikos DIW Berlin, University of Potsdam, and IZA, Germany Negative Impact • - Boosting economic growth by introducing innovative technologies, products, and services - Provide new job opportunities and increase productivity - More competition

Visioning – Establishing your BHAG v First coined by Jim Collins and Jerry Porras, the term BHAG Big Hairy Audacious Goal – is a method of setting a vision for your company. v In their 1994 book entitled Built to Last: Successful Habits of Visionary Companies, they describe a BHAG as: “a 10 -25 year compelling goal that stretches your company to achieve greatness. It should be a huge, daunting task, like climbing Mount Everest, which at first glance, no one in the company knows how on earth you will achieve. ” Further readings: http: //cdn 2. hubspot. net/hub/116436/file 314960677 -pdf/Big_Hairy_Audacious_Goal_Guide. pdf

Visioning – Establishing your BHAG v The first step in determining your BHAG and setting a vision for your CCI company, is to identify what your company will specialise in. v To do this, you will need to answer the following key questions: v. What can you be the best in the world at? v. What drives your economic engine? v. What are you deeply passionate about? Further readings: http: //cdn 2. hubspot. net/hub/116436/file 314960677 -pdf/Big_Hairy_Audacious_Goal_Guide. pdf

Visioning – Establishing your BHAG What can you be the best in the world at? v The question is not “What are you best at? ”; it is what can you be best at. v Consider what would happen if you were to focus your energy and effort on one main thing and to build your company around this one service/product/talent you have. v Now answer, what could you become best in the world at? Further readings: http: //cdn 2. hubspot. net/hub/116436/file 314960677 -pdf/Big_Hairy_Audacious_Goal_Guide. pdf

Visioning – Establishing your BHAG What drives your economic engine? v This is much more of a strategic decision than it is a matter of metrics. v It requires that you really understand what one thing causes you to make money more than any other ratio or denominator in your business. v Thinking beyond the obvious metrics of your industry can lead to real breakthroughs in innovation; setting you apart from your competition. Further readings: http: //cdn 2. hubspot. net/hub/116436/file 314960677 -pdf/Big_Hairy_Audacious_Goal_Guide. pdf

Visioning – Establishing your BHAG What are you deeply passionate about? v In order for a company to be great, the people in the organisation must be fully committed and engaged in their work. v Understanding the purpose of your work and your passion for it and being intentional about pursuing opportunities that align with that purpose and passion is an important piece of understanding the vision of your company. v The idea is to make a strategic decision to do the work that naturally inspires passion in yourself and people who will work with you to develop your business. Further readings: http: //cdn 2. hubspot. net/hub/116436/file 314960677 -pdf/Big_Hairy_Audacious_Goal_Guide. pdf

Visioning – Establishing your BHAG Now that you understand your company better, it is time to write your BHAG A great BHAG will be easy to understand, will serve as a focal point for unifying team effort and should guide decisions on a daily basis. Here are some examples of a BHAG: v Become the most recognized & respected consumer brand v in the world (Starbucks) v Every book, ever printed, in any language, all available in less v than 60 seconds (Amazon) v A computer on every desk in every home (Microsoft) Further readings: http: //cdn 2. hubspot. net/hub/116436/file 314960677 -pdf/Big_Hairy_Audacious_Goal_Guide. pdf

Visioning – Establishing your BHAG To write the Big Hairy Audacious Goal for your CCI business: 1. Reflect on the answers you provided to the 3 key questions: v What can you be the best in the world at? v What drives your economic engine? v What are you deeply passionate about? 2. Reflect on the vision for the company. v In your wildest dreams, what would you like to accomplish? v What is the ultimate picture of success? 3. Brainstorm your BHAG, and describe it to the group! Further readings: http: //cdn 2. hubspot. net/hub/116436/file 314960677 -pdf/Big_Hairy_Audacious_Goal_Guide. pdf

Unit 3 – Understanding Entrepreneurship in the Cultural and Creative Sector

Characteristics of the CCI Sector v Approximately 80% of enterprises in the CCI sector consist of SMEs with many sole traders or micro-enterprises. v CCI workers are more than twice as likely to be self-employed as workers in other economic sectors. v Almost 60% are classed as micro-enterprises with only 1 to 3 employees. v SMEs and freelancers: Cultural and creative entrepreneurs are more likely to hold non-conventional forms of employment, such as part‐time work, temporary contracts and freelancing.

Uncertain Value and Changing Business Models v The market for cultural goods is both volatile and unpredictable, promoting business strategies that are 'emergent', provisional, highly responsive to user demand based on 'intuitive' and 'emotional' knowledge as much as standard market research. v The broadening usage of the internet and content interface platforms has significantly changed the value chain and distribution process, enabling a ‘democratisation’ of access to distribution and a higher participation of producers and content originators.

Clusters within the CCI Sector

Case Studies of Successful CCI Enterprises v Private company – Filmesdamente, Lda: http: //www. filmesdamente. com/ v Mo. Ca - Mobiliário de Cartão: http: //www. massivemov. com/ v Get Set Festival: http: //getsetfestival. com/ v Earbox SA: http: //earboxwear. com/ v Companhia Instável: http: //www. companhiainstavel. pt/ v Lugar do Desenho - Fundação Júlio Resende: http: //www. lugardodesenho. org/

Reviewing the Case Studies What made these CCI cases successful? v What do you think that these case studies have in common? v Do the business owners share common personality traits? v v Do these companies operate within a cluster? If so, can you identify the cluster?

Module 1 - Reflection and Review Please, take 10 minutes to reflect and outline what you have learned today. ü Did you get to know yourself and others better? ü Did the content of this module matched your expectations? ü How can you exploit this knowledge to move forward an entrepreneur? ü What are your expectations for the rest of the curriculum? ü What do you expect to get in the end of the course?

Thank. You! you! Thank

References 1 - The entrepreneurial dimension of the cultural and creative industries http: //kultur. creative-europedesk. de/fileadmin/user_upload/The_Entrepreneurial_Dimension_of_the_Cultural_and_Creative_Industries. pdf 2 - Cultural entrepreneurship http: //www. klamer. nl/docs/springer. pdf 3 - The entrepreneur’s purpose http: //cdn. ey. com/parthenon/pdf/perspectives/ey-the-entrepreneurs-purpose. pdf 4 - Entrepreneurs and their impact on jobs and economic growth https: //wol. iza. org/uploads/articles/8/pdfs/entrepreneurs-and-their-impact-on-jobs-and-economic-growth. pdf 5 - Understanding Motivations for Entrepreneurship https: //www. enterpriseresearch. ac. uk/wp-content/uploads/2015/02/Understanding-Motivations-for-Entrepreneurship. Rapid-evidence-assessment-paper. . pdf 6 - The entrepreneurial dimension of the cultural and creative industries http: //kultur. creative-europedesk. de/fileadmin/user_upload/The_Entrepreneurial_Dimension_of_the_Cultural_and_Creative_Industries. pdf 7 - Comparative analysis of relevant case studies and successful practices of audiovisual creative industries http: //www. vs. edu. mk/attachments/1281_Comparative%20 Study%20 of%20 Audiovisual%20 Creative%20 I ndustries. pdf

References 8 - National Culture, Entrepreneurship and Economic Development: Different Patterns across the European Union https: //www. researchgate. net/publication/257923211_National_culture_entrepreneurship_and_economic_developm ent_Different_patterns_across_the_European_Union 9 - Creativiy – people, environment and culture http: //www. genesis. puc-rio. br/media/biblioteca/Creativity_key_elements_for_it. pdf 10 - Entrepreneurial Ventures in the Creative Industries: a Case Study Approach http: //liee. ntua. gr/en/wp-content/uploads/2015/09/Protogerou-et-al_EAEPE_2015 -2. pdf 11 - Entrepreneurial behavior: Impact of motivation factors on decision to create a new venture https: //ideas. repec. org/a/idi/jiedee/v 18 y 2012 i 2 p 132 -138. html 12 - Empreendedor cultural: perfil e formação profissional http: //www. cult. ufba. br/enecult 2008/14310. pdf 13 - Research on Entrepreneurship within the Creative Industries http: //www. anpad. org. br/admin/pdf/eneo 129. pdf 14 - Entrepreneurs and their impact on jobs and economic growth https: //wol. iza. org/uploads/articles/8/pdfs/entrepreneurs-and-their-impact-on-jobs-and-economic-growth. pdf

References 15 - O setor cultural e criativo em Portugal, na Europa e no Mundo. http: //www. google. pt/url? sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0 ah. UKEwiv 57 n 6 l 5 j. VAh. UCtho. KHSH 2 Avo QFggi. MAA&url=http%3 A%2 F%2 Fwww. gepac. gov. pt%2 Fgepac-dsepac%2 Festudos-eestatisticas%2 Festudos%2 F 04 -o-sector-cultural-e-criativo-em-portugal-vintpdf. aspx&usg=AFQj. CNHm. FKf. XHEn 87 v. IL_Qp. Cg. Wpf 51 Q_Ag 16 - Creativity and innovation software entrepreneurship for students http: //www. google. pt/url? sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0 ah. UKEwiwwf. KAm 5 j. VAh. VHt. Bo. KHd. EUA SMQFggn. MAA&url=http%3 A%2 F%2 Fcs. hiram. edu%2 F~walkerel%2 Fcs 356%2 Flecturenotes%2 FCreat. And. Innovate. ppt&usg=AFQj. CNE 1 e 8 vd 1 TJOr. Cj-AG 1 Otts 2 h. DJXn. Q 17 - Kick-Butt Self-Motivation Tips For The Self-Employed https: //www. theselfemployed. com/gig-economy/12 -kick-butt-self-motivation-tips-self-employed/ 18 - Ways to Stay Motivated When You’re the Boss https: //www. theselfemployed. com/office/6 -ways-to-stay-motivated-when-youre-the-boss/ 19 - Ways to Stay Highly Motivated When You’re Self-Employed http: //www. lifehack. org/428348/5 -ways-to-stay-highly-motivated-when-youre-self-employed 20 - How to stay motivated in business when you are self-employed http: //www. lifecoach-directory. org. uk/lifecoach-articles/how-to-stay-motivated-in-business-when-you-are-selfemployed