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Opportunity Recognition and
Exploitation
Kardan University
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“Being an entrepreneur doesn’t mean jump off a ledge and make a parachute
on the way down.”
-Fred Smith, Founder of FedEX
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All Rights Reserved to Kardan University 2014
“Being an entrepreneur doesn’t mean jump off a ledge and make a parachute
on the way down.”
-Fred Smith, Founder of FedEX
Kardan.edu.af
All Rights Reserved to Kardan University 2014
Agenda
- Researching the opportunity
- Evaluation of Business Opportunities
- Ideation and Pitching
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Researching the Opportunity
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Ideas
Sources of new ideas• Consumers• Existing Products and
Services• Distribution Channels• Government• Research and Development
Methods of Generating New Ideas • Focus Groups• Brain Storming • Problem Inventory
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* Robert D Hisrich, Michael P. Peters and Dean A. Sheppard; The Entrepreneurship 7th edition; P140-143
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Creative Problem Solving
Brainstorming• Obtaining new ideas focusing on the parameters
Reverse Brainstorming• Obtaining new ideas focusing on the negative
Brainwriting• Written brainstorming
Gordon Method• Developing new ideas when individuals are unaware of the problem
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Creative Problem Solving…
Checklist Method• Developing a new idea through a list of related issues
Free Association• Developing a new idea through a chain or word associations
Forced Relationship• Developing a new idea by looking at product combinations
Collective Notebook Method• Developing a new idea by group members regularly recording ideas
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Creative Problem Solving…
Attribute Listing• Developing a new idea by looking at positives and
negatives
Big-Dream Approach• Developing a new idea by thinking without constraints
Parameter Analysis• Developing a new idea by focusing on parameter
identification and creative synthesis
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Ideas…
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Where Does Good Ideas Come From
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By Steven Johnson
https://www.youtube.com/watch?v=NugRZGDbPFU
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Case: Kate Spade
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How did Kate Spade determine if her idea was in fact a good business opportunity?
What criteria do you think Kate andAndy Spade use to decide whether or not to expand their accessories into other product lines and markets?
Why do you think Kate Spade has been so successful and distinctive in the extremely competitive fashion industry?
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Researching the Opportunity
Q & A
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Evaluation of Business Opportunities
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Primary Areas for Assessment
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• Idea• Industry• Market
• Cost• Return• Value creation
• Capital • Debt• Technology
• Background• Experience• Talents
People Resources
KnowledgeRevenue Generation
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Business Evaluation Scoring Technique (BEST)
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Is the business really differentiated from other similar businesses?
Does the business have growth potential?
Will the business require capital? (Lower capital requirement receives a higher score.)
Can financing be secured?
Does the business suit the individual’s entrepreneurial profile (e.g., mind-set, experience)?
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Business Evaluation Scoring Technique (BEST)…
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Assessing New Venture Feasibility
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Value Proposition
Target Market
Revenue Model USP
Barriers Competitive Analysis Market Size Market
Growth
Market Share
Company Type & Style
Start-up Costs
Investments Needs
Exit Strategy ROI
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Idea Infatuation
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Trend Mapping
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By Mike Stemple
http://www.youtube.com/watch?v=p0FyjLUz1Ag&feature=youtu.be
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Evaluation of Business Opportunities
Q & A
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Ideation and Pitching
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10:20:30 Pitch Rule
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By Guy Kawasaki
https://www.youtube.com/watch?v=0iqIBDVMOyw
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Ideation and Pitching
Q & A
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Thank you
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