The En Factor Podcast features conversations with entrepreneurs who have started, stumbled and succeeded.
Michael Morris is a professor of entrepreneurship and social innovation of the Keough School of Global Affairs at the University of Notre Dame, where he focuses on new venture creation, social entrepreneurship and innovation; corporate venturing; entrepreneurship and poverty and more. He has authored 13 books, 24 book chapters, and more than 130 articles in peer-reviewed journals.
Key Words – Social Entrepreneurship, Economic Development, Poverty Reduction, Entrepreneurship Education
Chapters
00:00 • Michael Morris’s Journey into Entrepreneurship Education
08:39 • Why Military Experience Can Prepare People for Entrepreneurship
11:03 • The Global Partnership for Poverty and Entrepreneurship
13:00 • Entrepreneurship Beyond the “Glory” Ventures
18:10 • Can Adversity Become an Entrepreneurial Asset?
21:14 • The Challenges of Building a Business in Poverty
24:16 • Adapting Entrepreneurship Education to Meet Different Needs
25:49 • Collaboration and Sharing Ideas to Create Greater Impact
27:03 • COVID-19, Poverty, and Entrepreneurship’s Role in Building Economic Opportunity
37:04 • Michael Morris’s Advice: Challenge the Norm and Stay Disciplined
Episode takeaways
- Challenge conventional thinking and be willing to do things differently. Entrepreneurship requires questioning established practices and exploring alternative ways to price, deliver, and structure products or services.
- Pair creative thinking with discipline and consistent execution. Entrepreneurs must follow through with concrete actions, such as making sales calls, tracking business performance, and understanding their numbers.
- Entrepreneurship is accessible to people from all backgrounds. Starting a business can help people build a better life, gain greater control over their circumstances, and contribute to their communities.
- Learn to turn limited resources into creative solutions. Michael discusses how resourcefulness, finding unconventional uses for available resources, and resilience can help entrepreneurs navigate challenges.
- Use entrepreneurship as a pathway to empowerment and economic opportunity. Michael emphasizes that entrepreneurship can help people in disadvantaged circumstances improve their quality of life. Even small businesses that don’t become large, high-growth ventures can provide meaningful income and greater independence.
- Entrepreneurs, educators, and business leaders can accomplish more by sharing ideas, tools, and expertise rather than treating every insight as proprietary. Collaboration helps people learn from one another and develop better solutions to complex problems.
- Believe in your vision, but understand the numbers behind your business. Aspiring entrepreneurs should have the courage to challenge the status quo while remaining grounded in the financial and operational realities of running a business.
The En Factor® Podcast
Conversations with Entrepreneurs
Hosted by Dr. Rebecca White
Our audience of aspiring and established entrepreneurs are inspired to persevere throughout their entrepreneurial journey. You will hear first-hand stories of success, resilience through failure, and how to become a master in your field.
