Entrepreneurship and Innovation: Key Attributes and Case Study of Saygin Yalcin's Sellanycar.com

This paper discusses the key attributes required to become a successful entrepreneur and examines the case study of Saygin Yalcin's Sellanycar.com. It also explores Yalcin's personality, personal approach, businesses, products, and market. The challenges faced by Yalcin and the process involved in entrepreneurship are also discussed.

Running head: ENTERPRENEURSHIP AND INNOVATION
ENTERPRENEURSHIP AND INNOVATION
Name of the Student
Name of the University
Author note

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Executive Summary:
This paper discusses about the key attributes for becoming a successful entrepreneur.
Entrepreneur is a person who designs and launches a new product in the market. This paper
also discusses about a German businessperson and entrepreneur Saygin Yalcin. Saygin
Yalcin made an online website where people can sell their cars within 30minutes. This paper
also examines about the key issues faced by Saygin Yalcin in establishing the business in the
market.

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Table of Contents
Introduction:...............................................................................................................................3
Discussion:.................................................................................................................................4
Attributes for success of an Entrepreneur..............................................................................4
Personality of Saygin Yalcin:.................................................................................................5
Personal Approach:................................................................................................................6
Businesses, Products and Market of Saygin Yalcin:..............................................................6
Process Involved in the Entrepreneurship:.............................................................................7
Challenges faced by Saygin Yalcin........................................................................................8
Conclusion:................................................................................................................................9

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Introduction:
Entrepreneurship is designing and launching a new product in the market. This paper
will discuss about the key attributes of becoming a good entrepreneur. Entrepreneur is a
person who loves to experiment and are not afraid to take risks in the market. Saygin Yalcin
the German entrepreneur and businessperson created a website, which made life easier for the
people. People can sell any car within 30 minutes in this website. Saygin Yalcin has also been
to another business for example Sukar.com the online private shopping club. Saygin Yalcin
received many awards for his brilliant skill and dedication, which is very much evident in the
growth of Sellanycar.com. Saygin Yalcin also planning to expand his business in Germany.
He also have a YouTube channel with 200,000 subscriber. This paper also discusses about
the issues faced by Saygin Yalcin while starting this organisation. Saygin Yalcin is also a
guest lecturer in in Canadian University of Dubai. This paper also includes the personality of
Saygin Yalcin and the approach of stating this business.

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Discussion:
Entrepreneurship means designing and launching a new product in the market. The
entrepreneurs generally start this business as a small-scale business, and brings out something
innovative ideas in the market that no one have ever seen (Drucker, 2014). Entrepreneurship
can be described as the capacity and willingness to develop and innovate something unique
that will help the society by making their life easier. This paper discuss about the German
entrepreneur and businessperson Saygin Yalcin. Saygin Yalcin created a website that buys
any car at a commission free-rate. The present valuation of the company is 500 million dollar.
Attributes for success of an Entrepreneur
The main attributes that makes an Entrepreneur successful are:
 Risks taking ability: The ability to take risks makes an entrepreneur successful. An
entrepreneur should always take risk or experiment about the product (Dai et al.,
2014).
 Confidence: The main attributes to be successful for an entrepreneur is to be
confident about what he/she is doing. They should never ask themselves whether they
could succeed or not. They should be confident about each step they are taking
(Kirzner. 2015).
 Disciplined: The individuals should always be focused on how the business will work
and grow. He should be focused on removing the barriers, which are not letting the
organisation to grow (Dees, 2017).
 Open minded: Entrepreneurs should realise that every situation is a business
opportunity and that will help the organisation to grow in the market. New ideas
should always be in their head, which will help them to innovate more.

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 Self-starter: Entrepreneurs should understand that the changes they want to see have
to bring by themselves only. They should set the parameters and everyone will follow
that.
 Creativity: The main weapon of an entrepreneur is innovation. An entrepreneur
should be innovative and they should bring something new in front of the people,
which will help the community (Audretsch & Belitski, 2013).
 Originality: An entrepreneur should not copy any other’s work. They should not
follow the path, which someone has already taken. The idea should be his own and
not somebody else’s (Antonio et al., 2014).
 Passion and motivation: One of the most important traits of good entrepreneur that
makes him successful is passion and motivation. From building the framework to
executing the plans correctly passion and motivation is the key to success. A
successful entrepreneur should always have the passion and desire of achieving
success (Thorgren & Wincent, 2015).
 Market and product knowledge: Entrepreneurs should know about their products
every single detail. They should also know the market in which they are going to do
the business. They should know which product at what time could make the idea
successful (Block, Thurik and Zhou, 2013).
Personality of Saygin Yalcin:
Saygin Yalcin is entrepreneur and businessperson born in Germany. Presently he is
living in Dubai and has been running his business in Dubai since 2012. He has received many
awards for his start up, which have become a global success in very small period. He attended
business school in USA, Germany and Mexico. Saygin Yalcin first came into the headline
when he presented a Rolls Royce to Kendall Jenner for 21st birthday. He also has a YouTube
channel with 200,000 subscribers (Burgess & Green, 2013). He is one of the youngest

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entrepreneur who have achieved this much success in recent times. Sellanycar is one of the
most successful start-up in Middle East. Apart from this, he has also been successful with
another start-up “Sukar.com”, the online shopping club that has a membership of 1 million
shoppers.
Sukar.com employs more than 120 employees. He has earned a position in Canadian
University of Dubai as the Academic lecturer of Entrepreneurship and a part of the Advisory
board. His current wealth is estimated as 100,000,000 dollar and experts say that he will soon
break the record of 1,000,000,000 dollars.
Personal Approach:
Saygin Yalcin is a person with strong business mind and always looks up for
opportunity (Kahlifa & Dhiaf, 2016). He came up with this idea of start-up when he faced a
problem regarding the selling of his cars. He then started to plan to bring something, which
will not only be beneficial for him, but also the people can sell their cars easily. He started
with Sukchar.com and then made this start-up, which is now worth 500 million dollar. He has
many challenges in front of him like the use of internet to sell car is often considered as
ineffective and fraud but his strong will power and passion helped the organisation to grow
and change the whole perspective of selling a car. He has recently started a new policy where
the consumer can sell the car and can buy it again after 3 months at the same price. The
business mind of Saygin Yalcin is a key factor behind the successful growth of the
organisation.
Businesses, Products and Market of Saygin Yalcin:
Saygin Yalcin mainly deals with the business of selling cars in the Middle East.
People can sell any car whether it is Rolls Royce or Ferrari in just 30 minutes. He also buys
old cars and makes them as it was before. Apart from this, Saygin Yalcin also had another

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business Sukchar.com where people can buy any products any online. It was Dubai’s first
online shopping club (Guide, 2013). Later he sold Sukar.com to Souq.com and in 2012; he
became the partner at both Souq.com and Jabbar group, which helped him to start his new
business Sellanycar.com. Sellanycar.com became UAE’s largest car selling organisation
(Hasan, 2016). The business of Saygin Yalcin was catalysed when he announced that the
organisations expansion in the German market.
The product or service that Saygin Yalcin provides to the customer is selling of cars
in 30 minutes. The organisation buy the cars directly from the customer within 30 minutes.
The company buys all sorts of cars ranging from sports car like Ferrari, Lamborghini to the
elite class cars like Rolls Royce. The company also helps the people to sell old cars at a good
price. Saygin Yalcin is also planning to sell cars in the near future (Uae.sellanycar.com,
2018).
The competition in the market is very low as there is very few organisation who
provides quality service like Sellanyycar.com. Sellanycar.com is one of the largest car-buying
organisation in UAE (Bahrami, 2014). The company have made many brand loyal customers
in very short span of time. There are huge scope for the organisation to grow its business in
different countries, as there is very few competitor for this kind of business. Saygin Yalcin
has also announced to expand the business in the German market as well.
Process Involved in the Entrepreneurship:
Saygin Yalcin came up with the idea when he faced a similar problem where he
wanted to sell his car in Dubai. This idea made him to a conclusion where he tried to help out
the customers who are in trouble of selling their car. He did an International Masters in
Business which later made him to contribute his work and time on the entrepreneurship of
solving the problem of selling old cars in minimum in 30 minutes. He had made his complete

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focus of the business using internet in UAE. Where he knew that most of the people would
not be aware of internet and its uses but still he chosen this path to expand his business
because believed in using the technology rather than exploring technology (Yalcin, 2014).
Saygin Yalcin was involved in various business activities starting from his early
career where he worked for the leaders in re-known industries such as BMW, L’Oreal and
Capgemini. The work life that he contributed in these companies was when he was just
completing his education. Then, he also worked for the companies based on internet such as
Jabbar Internet and Souq.com which are one of the largest online retailers in the Arabic
region. He was assigned as a management of a car sales project. One of which Souq.com is a
part of Amazon now. From there Saygin used his career to start his own business.
Challenges faced by Saygin Yalcin
The challenges faced by the entrepreneur Saygin Yalcin were many such as the initial
problem aced was the key factor that was capital that he was lacking and for which he got
desperate to raise funds under certain terms and conditions which even turned out to be
horrible. Seeking for investors that also in first three years was a difficult task for him.
The challenge he faced was also the lack of strategic decision which will make less
dependency on variable cost. The strategies that need to implement while as a startup is
necessary to affect the business in an active way rather more chances were to harm the
operations of the business.
Economic unit is necessary to focus upon when entering into the market which
requires a brief research and analysis about the market, its competitors and active trends that
can affect the business. This was his mistake which was not done by him and later he realized
importance of doing research.

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Conclusion:
This paper concludes that Entrepreneurship is designing and launching a new product
in the market. Saygin Yalcin the German entrepreneur and businessperson started an
organisation name Sellanycar.com. The main objective of the organisation is to buy cars from
the people who are willing to sell their car in just 30 min. this paper discusses about the key
attributes which are required to be a successful entrepreneur. The attributes are Risks taking
ability, Confidence, Disciplined, Open minded, Self-starter, Creativity, Originality, Passion
and motivation, Market and product knowledge. To be a successful businessperson an
entrepreneur should have all the above-mentioned attributes. The risk taking capability and
constant innovation skill is highly requires to make an organisation successful. Sayging
Yalcin started the business in 2012. Saygin Yalcin has received a number of awards for his
amazing startup and he is a guest lecturer of entrepreneurship in Canadian University of
Dubai. He also have a YouTube channel with 200,000 subscriber. Sellanycar is the largest
car-buying organisation in Middle East countries and recently Saygin Yalcin has stated that
he will soon expand the business in Germany’s market. Saygin Yalcin got the idea of this
start-up when he faced the problem of selling his own car. He then did his masters
International Master in business and planned to open this organisation, which is currently
valued at over 500 million dollars. The net worth of Saygin Yalcin is expected to break the
mark of 1,000,000,000 US dollars.

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