Entrepreneurship in Engineering Cheat Sheet

Entrepreneur	Owner or manager of a business enterprise who makes money through risk and/or initiative; willing to help launch a new venture or enterprise and accept full responsibility for the outcome.	Commercialization
Entrepreneurship	Act of undertaking innovation, possessing the finance and business acumen needed to transform innovations into economic value.	Marketing
TRIZ		Value proposition	Promise of value to be delivered and a belief from the customer that value will be experienced.
Bench		Business plan	Formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals.
Knowledge worker		Marketing strategy
Public offering	Sale of ownership (often thru securities) of a company to the public.	Business model	Describes the rationale of how an organization creates, delivers, and captures value.
Disruptive innovation		Angel investor
Intellectual property		Business technology
Limited liability		Small business
Sole proprietorship		Technology transfer
Strategic alliance		Commercial viability

Myth.

Fact.

A great Idea is an epiphany.

A great idea is hard work over time.

I should do what is expected.

Innovation occurs at the edge of chaos and often at the intersection of technology and entrepreneurship.

Solo inventor.

tba

First mover.

tba

Customers want	Better
	Cheaper
	Faster
	Cooler
	Continuous improvement is essential.
Owners want you to	Do more with their money than they could do with it themselves.
	Invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
	Present value of future cash flows exceeds the startup costs.
You create value by:	Exploiting proprietary physical resources.
	Possessing proprietary knowledge or expertise.
	Creating a new or improved product, process, or service.
	Staying ahead of the competition.

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Entrepreneurship in Engineering Cheat Sheet (DRAFT) by marrgotthewise