2 EIE 020608 Entrepreneurship Process

2 EIE 020608 Entrepreneurship Process - Entrepreneurship...

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Unformatted text preview: Entrepreneurship Process Frdric Martel Lyon, June 2 nd , 2008 Entrepreneurship Process 4 steps: 1. Identify the opportunity: Idea 2. Gather the required resources: Raise Money 3. Implement your idea/concept: Execute 4. Harvest the rewards: Exit 1. Identify the Opportunity Define your Concept or Idea Test it with your surrounding Would they put money in it? Would they be happy to become clients? The idea is just the beginning. It amounts to 1% of the success Can you profit enough from this opportunity? 1. Identify the Opportunity A good Opportunity is a Big Opportunity Assumes a large market Assumes a decent market size A good Opportunity is a Profitable Opportunity Good Gross Margins (even when subscale ) Reasonable Operating Expenses A good Opportunity is Sustainable cannot be easily copied or is patentable 1. Identify the Opportunity A good Opportunity is within Reach Doable by a small emerging company The Human Resources are available The Technology Risk is not a lottery The Execution Risk is acceptable A good Opportunity is a Fundable Opportunity Not too Capital Intensive Possible to find willing money 2. Gather the required resources2....
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This note was uploaded on 09/04/2008 for the course ENTR 101 taught by Professor Jeff during the Spring '08 term at Sabancı University.

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2 EIE 020608 Entrepreneurship Process - Entrepreneurship...

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