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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Becoming an Entrepreneur

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Considering starting your own venture or thinking about joining a start-up? Explore our resources to determine if a career in entrepreneurship is right for you, and learn how to get started.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Considering Entrepreneurship

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  First step: choose your path

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  For many HBS MBA candidates, entrepreneurship rivals general management, consulting, and financial services as a meaningful career path.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  But by definition, considering entrepreneurship means pursuing something new, and by virtue of its novelty, it often feels as if there are few guide posts along the entrepreneurship trail – or even few trails to follow.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  There are, however, process steps that can help would-be entrepreneurs create their own map for the terrain ahead. By taking the following steps, you can blaze your own trail, based on your own interests, goals and ambitions.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  In the first step toward entrepreneurship, career seekers face a fundamental choice that affects every subsequent action: do you see yourself as a startup founder or joiner?

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  The Path of the Founder

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Founders are typically driven by one of two things:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Passion about a problem to solve, such as removing friction from ecommerce shopping, or applying Big Data to achieve supply chain efficiencies
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Enthusiasm for a particular industry or "space," such as IoT or green energy initiatives

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  For those who recognize themselves as founders, the next big question is timing: now or later? Do you want to leap into entrepreneurship immediately, or acquire more business experience first?

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  When you feel ready to be a founder, you'll need:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • An idea for a problem to be solved
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • And/or a team of partners who have a marketable idea, or have skills/experiences that complement your own

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Founders, and their teams, will have a considerable journey ahead, usually with obstacles and challenges unique to their ideas, industries, and market contexts. But regardless of the specific path, they will need to prepare for their journeys by researching the following issues:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Minimum viable product (MVP)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Speed matters. To build momentum, startups typically demonstrate proof of concept by developing the most basic version of their ideas to test their viability, collect data and make adjustments, and attract the interest of investors.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Legal structure of company

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  How, exactly, will your company represent itself to the world? You and your team need to determine the legal format of your company, the organizational chart, and the distribution of equity. Your choices will have lasting consequences; although a "structure" may be less appealing than an "innovation," the latter cannot be fulfilled if the former isn't designed for stability.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Funding

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  How much do you need – and what will it cost you? Like the legal structure of your enterprise, your choice (or choices) of funding options has an enduring impact on both your business and your role within it. In the heat of the entrepreneurial moment, do not neglect the impact of your funding decisions on your future.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Personal support

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Exploring and resolving all the above issues can be an exhausting and even lonely process. Take care of yourself by taking pains to create and sustain a network of support, including an informal circle of family and friends who can offer emotional sustenance, and a team of expert advisors who can help you blaze your trail and stay on the path.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Entrepreneurship at HBS

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Harvard Innovation Labs

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Harvard Innovation Labs

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Harvard Innovation Labs supports alumni entrepreneurs who've graduated to the next level of the innovation world beyond the Harvard campus.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Rock Center for Entrepreneurship

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Rock Center for Entrepreneurship

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  The Arthur Rock Center for Entrepreneurship is a vital resource to HBS students and a champion for entrepreneurship at HBS.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Past Program Resources

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Be an Entrepreneur Without Leaving Your Day Job

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  What if there was a way to pair the stability of a day job with the excitement and upside of entrepreneurship? Using proven strategies and a range of case studies, author and serial "10% Entrepreneur" Patrick J. McGinnis (MBA 2004) explains how you can integrate entrepreneurship into your career.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Pitching to Venture Capitalists? Learn From an Expert

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Are you pitching--or getting ready to pitch--a new business idea? Sounds easy, but it is complicated and tricky. Join Ray Rothrock (MBA 1988), Partner Emeritus at Venrock, as he shares lessons from his more than 25 years of experience in the venture capital business in Silicon Valley.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  The Shiny Penny: How to Maximize the M&A Value of Your Company

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  For years, you've worked nonstop and sweated bullets to build a successful company... and suddenly you get a buyout offer--YEA!! In this webinar, Steve Kirschner describes key marketing stratagems to help ensure you maximize the M&A valuation in the private sale of your company.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Incubators & Organizations

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  +–Incubators

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Incubators are organizations that provide support, whether office space or guidance, to startups.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  National Business Incubation Association (NBIA)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Find an incubator near you, using this tool from the NBIA.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  +–Organizations for Women & Multicultural Entrepreneurs

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Urban Entrepreneur Network

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Networking group for Women & Multicultural Entrepreneurs, Small Business Professionals, and creative Start-Ups.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Black Business Women and Entrepreneurs

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Ladies Who Launch

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  An online and offline social network for women to move their businesses and personal goals forward.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  The African Network

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  +–Region-Specific Organizations

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  KCnext (Kansas City)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Built in Chicago

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  TiE (Indus Entrepreneurs)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Chapters in India and Asia.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ENABLIS

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Entrepreneurship in developing countries

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  +–Networking Resources for Founders

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Entrepreneurs' Organization

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Young Entrepreneur Council

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Young Presidents' Organization

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  FoundersCard

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Tech Cocktail

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Small Giants

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  The Funded

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Discuss fundraising, rate and review angel investors and venture capitalists, and discuss strategies to grow a startup business.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  From the Career Blog 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  “Find something exciting and that you are passionate about that has meaning beyond just financial gain.”
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Michael Schraeder
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  MBA 2012
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Read Post: Finding Entrepreneurial Success
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  “Find something exciting and that you are passionate about that has meaning beyond just financial gain.”
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Michael Schraeder
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  MBA 2012
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Read Post: Finding Entrepreneurial Success
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