TAILIEUCHUNG - Lecture Entrepreneurship: Chapter 3 - Zacharakis, Bygrave, Corbett

Chapter 3 - Opportunity recognition, shaping, & reshaping. This chapter focuses on evaluating ideas and assessing whether they are indeed good opportunities. While an idea is necessary to entrepreneurship, it isn’t sufficient. To have a successful entrepreneurial endeavor, your idea needs to be an opportunity. | OPPORTUNITY RECOGNITION, SHAPING, & RESHAPING Chapter 3 1 Visualizing Opportunity 2 Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© Visualizing Opportunity 3 Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© How do you spend your spare time? What activities provide you with happiness? Talk to people in your sphere of influence. Find Your Passion See the Competition Test the Market How are customers currently meeting the need that you propose to fill? Can you differentiate between your direct and indirect competition? Is this an attractive opportunity? A series of Market Tests will allow you to gauge the viability of your opportunity. Idea-to-Opportunity Transition 4 Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© See Yourself Experience/Knowledge is often the “long pole in the tent” 5 Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© Multiply Stimuli Brain storm /write No judging Gather Stimuli Observe Ask Record Create Concepts Build a simple mock-up Plan to iterate Optimize Practicality Observe Ask Record Idea Multiplication: IDEO Technique 6 Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© The Opportunity Space (Global) Business Environment Customers Your Company Suppliers Government Regulations Competitors Competitors Competitors 7 Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© The Customer Psychographics Demographics Common Demographic/Psychographic Categories Target Audience Categories Primary Target Audience Secondary Target Audience Tertiary Target Audience 8 Zacharakis, Bygrave & Corbett, Entrepreneurship, New York: Wiley, 2017© Age Gender Household Income Family Size/Family Lifecycle Occupation Education Level Religion Ethnicity/Heritage Nationality Social Class Marital Status Social group (white collar, blue collar, etc.) Lifestyle (mainstream, sexual orientation, materialistic, active, athletic, etc.) Personality .

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