Empreendedorismo - José Dornelas

Entrepreneurs dream big and glimpse a dazzling future for the company. However, this is not enough to leverage a business. That's why José Dornelas teaches, in his book "Entrepreneurship", how to transform the dream into concrete attitudes that will help turn your ideas into reality.

Every company is built little by little. The construction of the base that will take the business to the fulfillment of your goal needs to be the focus of the first years, otherwise the dream won't come true.

With the foundation in place, dreaming big can become an excellent boost and stop being just a fantasy of most entrepreneurs.

Have you ever thought about being an entrepreneur? Keep reading this summary to know more!

About the book "Entrepreneurship"

The book "Entrepreneurship" (from the original in Portuguese "Empreendedorismo: Transformando Ideias em Negócios") was written by José Dornelas and published in 2014.

Considered a renowned book on the subject, it is a guide for those interested in creating a new business.

Also, it features all the key points in a clear and objective way. From the creation and structuring of the business plan until the actual start of the company, through essential concepts and actual cases of the business world.

The book has 284 pages, which are divided into 10 chapters.

About the author José Dornelas

José Dornelas is one of the leading specialists in entrepreneurship and business planning. Engineer, master, and doctor from the University of São Paulo (USP) and post-doctor from Babson College - considered the most important business school focused on entrepreneurship in the world -, where he was also a Visiting Scholar.

He also teaches Master of Business Administration (MBA) courses at USP and at the Fundação Instituto de Administração (FIA), besides acting as a guest professor in renowned schools in Brazil and abroad.

To whom is this book indicated?

The book "Entrepreneurship" is for different types of entrepreneurs and people interested in creating a new business or putting new ideas into practice.

José Dornelas's work is complete, filled with practical tips from successful entrepreneurs and concepts presented in a didactic form for immediate application. Also, it can be used in entrepreneurship courses.

Main ideas of the book "Entrepreneurship"

Check out the main lessons of José Dornelas before starting this summary:

• The entrepreneur is the one who makes things happen, anticipates the facts, and has a future vision of the organization;
• Entrepreneurship is a silent revolution, which will be for the twenty-first century more than the Industrial Revolution was for the twentieth century;
• Having only one idea is dangerous;
• Observe the great opportunities that the Internet provides;
• A well-planned business will have more chances of success;
• A good business plan shows the team's competence, the potential of the target market, and a truly innovative idea;
• The business plan is the entrepreneur's business card when looking for funding;
• Networking is something that should be targeted by the entrepreneur;
• As much as it is stressful to create a company, always try to take competitive advantage of this process;
• After you win, act like you haven't won.

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Overview: Differentiating ideas from opportunities

Perhaps one of the biggest myths about new business ideas is that they are unique. According to the book "Entrepreneurship", in fact, it doesn't matter. What matters, in reality, is how people use their ideas.

On the other hand, opportunities are usually unique. The author José Dornelas says that it is essential that entrepreneurs test their idea and business conception with potential buyers, more experienced entrepreneurs, and friends, before the passion for the idea blinds their business vision.

That way, a really good idea, approved by people around you and with experience, can be developed, implemented, and make a successful business rise.

Overview: Opportunity Analysis

The author José Dornelas provides a basic road map, called "3Ms", used to help the entrepreneur analyze the potential of the opportunity:

• Market Demand;
• Market Size and Structure;
• Margin Analysis.

Starting with the "Market Demand", the entrepreneur should be concerned with the questions:

• "What is the target audience?";
• "What is the durability of the product/service in the market (life cycle)?";
• "Are customers accessible (channels)?";
• "How do customers see their relationship with my business (added value)?";
• "Is the growth potential of this market high?";
• "Is the cost of capturing the customer recoverable in the short term?".

The relevant issues of "Market Size and Structure" are:

• "Is the market booming, or is it emerging? Is it fragmented?";
• "Are there proprietary barriers to entry or excessive exit costs? Do you have strategies to overcome these barriers?";
• "How many competitors /key companies are in the market? Do they control intellectual property?";
• "At what stage of the life cycle is the product (does the risk also depend on the product life cycle and maturity)?";
• "What is the market's size in money and what is the potential to achieve a good share of the market?";
• "And how is the sector structured?";
• "How is the industry (sector in which your company operates) segmented? What are the trends? What events influence the scenarios?".

And for "Margin Analysis", the activities of importance are:

• Determine the strengths of the business;
• Identify the possibilities of profits;
• Analyze the costs (capital requirements), break-even points, returns, etc.;
• Map the business value chain;
• To do this, find out how your product/service reaches the end customer.

By analyzing all the questions proposed in the book "Entrepreneurship", you will understand better your value chain and the value chain of your competitors, and make decisions and attitudes such as reducing costs, redefining internal actions, and reaching greater limits.

Overview: The business plan

According to a survey by the Small Business Administration (SBA), 98% of the causes of failure of American startups can be grouped and summarized in a single cause: inadequate business planning.

However, there are no magic formulas to avoid falling into statistics, affirms the author José Dornelas. The most important action you can take for your venture is to plan.

When you consider planning, three critical factors can be highlighted:

1. Every company needs business planning to be able to manage it and present its idea to investors, banks, and customers;
2. Every entity that provides financing, funds and other financial resources needs a business plan for the requesting company in order to assess the risks inherent in the business;
3. Few entrepreneurs know how to properly write a good business plan. When they understand the concept, they usually cannot put it in a business plan.

A business plan is a fundamental tool in planning new companies, as it provides entrepreneurs with an understanding of the process of creating and implementing their business.

What do other authors say about it?

In the book "Mindset", the author Carol S. Dweck says that the world is divided between people who are open to learning and those who are closed to it. And that trait affects everything in life, from your worldview to your interpersonal relationships.

The bestseller "Dream Big", written by Cristiane Corrêa, shows how to transform the level of an organization according to the visions of the richest entrepreneurs in Brazil.

And if you think it is too late to start your own business, check the book "Value Generation". The author Flávio Augusto shows his vision of entrepreneurship and the world, besides giving tips for you to stand out among the crowd.

Okay, but how can I apply this to my life?

Here are some more tips to be a successful entrepreneur:

• Recognize when a business is no longer profitable;
• Know when to start an entrepreneurship process again;
• Get prepared for new obstacles based on old mistakes;
• Know how to get out of "sameness" and innovate in your business;
• Always make a business plan and understand how important it is to your company, using the questions presented in this summary.

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