Entrepreneurial Opportunity Feasibility Analysis

Entrepreneurial Opportunity Feasibility Analysis - Erik...

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1 1 Erik Sander; EGN6640 ± New business idea sources from Inc 500 study ± 71% replicated or modified an idea encountered from previous employment ± 20% discovered serendipitously ± 4% systematic search for new opportunities ± 5% other ± More from Bhide’s study ± 35% built temporary or casual job into business ± 25% wanted product as individual consumer ± 20% happened to read about industry ± 10% developed family member’s idea ± 5% came up with idea on honeymoon 2 Erik Sander; EGN6640 Source: “The Origin and Evolution of New Businesses” – Amar Bhide, Oxford Press, 1989
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2 ± Good ideas are not necessarily good opportunities ± Idea – Feed tuna fish mayonnaise ± Opportunity – Mix mayonnaise & tuna fish in bag ± Good opportunity: Attractive, durable, timely and anchored in a product or service that creates or adds value for its buyer ± Embodies sustainable barrier to entry ± Has unfair competitive advantage 3 Erik Sander; EGN6640 Market Pull Product Development Tech Push Research Market Penetration VC Interest Lower Tech Risk Greater Investments Tech Invest. Tech Risk Weeding Out 4 Erik Sander; EGN6640
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3 ± Define theValue Proposition – Better Faster Cheaper or B N Wl d Brave NewWorld ± Determine if attractive to entrepreneur, customers, investors, employees, & partners ± Identify strategy to maximize upside & mitigate risk ±
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Entrepreneurial Opportunity Feasibility Analysis - Erik...

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