MGT 3510 New Venture Fundamentals Notes
With Dr. Holland
True Business Opportunity
An idea is not always a business opportunity
There must be a market for it
Need skills and knowledge
Need Revenue Model
Is there a need?
Will someone pay for it?
Is this a
Keeping white shoes white
o At least for me, I wait until the shoe is unbearably dirty for I go through the difficult
process of bleaching it back to white. A product could be used as a pre and post spray.
The pre spray would b
Business or Opportunity Name and Short Description:
Business Model Summary
(how you create, deliver, and capture value)
Value Proposition what is the
problem that you are solving or the
need you are filling? What value
How do you determine whether an idea
is a GO (Great Opportunity) or a No
What is the VALUE of the idea?
What is the FEASIBILITY of the idea?
Article: Buy-Don't Start-Your Own Business
Buy-Don't Start-Your Own Business
Why not take a common sense approach to entrepreneurship, and consider the option
of buying an already established business?
By Bill Broocke
MGT 3510 Mission Involvement 1 (10 pts)
1. Which of the following seems to best support the emergence of new small businesses?
a. Economies of scale
b. The static view of economic theory
c. The dynamic view of economic theory
d. All of the above
25 Common Characteristics of Successful Entrepreneurs by James Stephenson
March 13, 2009
Successful Entrepreneurs by Judit