Instructor Introduction
Instructor: Jim and Jennifer Krigbaum
Founders
2020 Development Company LLC
2020DC Course Modules
Entrepreneurship Workshop
2020DC is a network of consultants synergizing our experiences from around the
world to enhance development through market based strategies taking agricultural
products from soil to shelf. Each consultant brings a unique set of skills to the group
that allow us to build unique strategies and solutions for our clients.
Entrepreneur Workshop
10 keys to success in International business
Analyze your skills
What business am I in?
Audience Survey
How many are gatherers of shea nuts?
How many are producers of shea?
How many are traders/brokers?
How many have exported before?
How many have met their customers?
How many have traveled to their markets? Middle East? Europe?
Asia? USA?
How many have attended a tradeshow? Where?
How many work with “commodities” versus “value added products”?
How many are government or NGO officials?
Objectives: After completing this course the participants will be able to:
Define what is an entrepreneur
 Analyze an entrepreneur to determine strengths and weaknesses
 Build T-chart on individual, company and product strengths and weaknesses
 Design a plan to build upon strengths and minimize the impact of
weaknesses
 Identify what business you should be in based upon your strengths and
weaknesses
 Learn the 10 keys to success in business
 Identify a niche for your product that capitalizes upon your comparative and
competitive advantages
What is an Entrepreneur?
Define what is an
Entrepreneur
A person who organizes, operates, and assumes the risk for a business
venture.
Naturally a risk taker and visionary
Entrepreneurs play a key role in any economy. These are the people who
have the skills and initiative necessary to take good new ideas to market and
make the right decisions to make the idea profitable. The reward for the
risks taken is the potential economic profits the entrepreneur could earn.
(Investopedia.com)
An Entrepreneur is the individual most likely to survivor in a developing
economy.
Can an entrepreneur work within an existing business?
Discussion Key words used to
define Entrepreneur
Risk taker
Leader
Survivor
Profit
(loss)
Visionary
Confident
Skills
Survival Mode
When in “Survival Mode” most individuals become
entrepreneurs out of necessity. They depend upon their
own skills to survive, they take calculated risks and
naturally gravitate to what they can do to survive.
To survive in business people need tools to survive. The
balance of this course will provide some of these tools.
10 Keys toCharm
success inDance
marketing
and in life
“CHARM DANCE”
Key # 1 Communications
Respond to your customer
immediately, or you will risk losing
business!
Key #2 Honesty
•Honesty + Integrity + Truth = Profit
⁼
Key #3 A consistent quality is essential
• Products should be identical to other products with the
same description
• The customer needs full confidence that what they have
purchased is what they will receive.
Rule #4 Risk - Know Your Acceptable Risk Level!
Know your comfort level before
you accept risk!
Rule #5 Markets - Know your
Markets!
Investigate
Rule #5 Markets - Know your Markets!
Markets
Customers
Customs
Culture
Competition
C - Communications
H - Honesty
A - A consistent Quality
R - Risk
M - Markets
CHARM
Key #6 Details, details, details!
Pay attention to every detail. In business
small details can cost you more than your
job!
Key #7 Advantage Know Your product’s
Advantages
Product Advantages:
•Better Price
•Better Quality
•Better Packaging
•Better Service
Be prepared to answer the question:
“Why should I buy your product over all others?”
Key #8 Networking is Key!
Build personal and business relationships with:
Customers
Suppliers
Brokers
Middlemen
Competitors
Bankers
Forwarders
Freight Companies
Everyone!
Rule #9 Customer Relationships
Your customers are more than
a source of income, they are
your partners and will become
your friends.
Treat them as if they are your
best friends.
Key #10 Excellent Visibility Unseen is
Unsold!
Your customer has to hear what you have to say
about your product
Your customer has to communicate their desires
Your customer has to see your product to buy your
product
“CHARM DANCE”
C - Communications
H - Honesty
A - A consistent quality
R - Risk
M - Markets
CHARM DANCE
D- Details
A - Advantages
N - Network
C - Customer relations
E - Excellent visibility
Exercise 1.1 – Analyze Current Business
Practices
Directions: Consider numbers 1-10 above and assess your current
business practices to determine if you are ready to do business
internationally. Rank your performance in each area on a scale of
1-10 (one is best). For the bottom four finishers, identify how your
business could improve performance in those areas.
What skills does an
Entrepreneur need to
achieve success?
Entrepreneur’s Skill Analysis
Characteristic
Creative thinking
Product
development
Visionary
Communication
skills
Sales/Marketing
skills
Accounting/financial
Time Management
Legal understanding
Strength
Weaknes Action plan
s
Jim Krigbaum’s Skill Analysis
Characteristic
Strength
Weakness
Action plan
Creative thinking
Yes
Too many
ideas too
little time
Prioritize
Product development
Fair
Visionary
Yes
Communication skills
Yes
Sales/Marketing skills
Yes
Accounting/financial
Work with good
development team
Writing
Take technical writing
course
No
Yes
Hire accounting
Time Management
No
Lack of
focus
Minimize distractions
Legal understanding
Fair
Hire good legal assistance
Complete for yourself
Characteristic
Strength
Weakness
Action plan
Discussion Examples and discussion
on local Entrepreneurs
Discussion limitations and hurdles
for local entrepreneurs to overcome
Vision
Vision is seeing the opportunity inside of
the challenge.
Are all business people visionary?
Can you train someone to be a visionary?
Give examples of good business visionaries.
Ask your self “What
business am I in?”
Who is going to make more money?
The fine artist or the house painter?
Which style is right for your organization?
Competitive Advantages?
Where Is Your Comparative Advantage?
•Land?
•Labor?
•Capital?
Identify where and why you are competitive.
Plan to exploit these advantages.
What are your competitive
advantages?
Key point often overlooked by
producers….
Produce what you can sell don’t sell what you produce!
Entrepreneur’s caveat
Don't let personality strengths that are the keys to entrepreneurial success turn
into faults that can undermine it.
Vision can become self-delusion
Confidence can become arrogance
Willfulness can become bullying
And ego (which overcomes skepticism) can become stubbornness (which
prevents you from accepting sound advice).
Protect against these traps by consciously seeking out and heeding others'
opinions.
Don't let one individual dominate the business with single-minded strategy even if that person is you.
Entrepreneur quote
"An Entrepreneur is not finished
when he's out of money: he's finished
when he is out of ideas and lacks the
desire to get back up after he falls."