Opportunity Identification Talk @ Eureka Tech Academy Event (2015-11-19)
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Transcript of Opportunity Identification Talk @ Eureka Tech Academy Event (2015-11-19)
Amman, Jordan | November 2015 John Mueller
Opportunity Identification
[ or discovery, or recognition, or creation ]
Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled
Howard Stevenson (1993), Harvard Professor
“ “
Idea Generation Evaluation * Exploitation (or exploration or execution)
* Keep evaluation separate from idea generation
Entrepreneurship
Adaptation from Shane & Venkataraman (2000) & Altman (2014)
…it is a process full of multiple actions…
Startup Building the Business Modification / Pivot
Opportunity Identification (discovery, recognition, or creation)
Idea Product / Service Team Execution
Idea Generation Evaluation * Exploitation (or exploration or execution)
Entrepreneurship
…it is a process full of multiple actions…
Startup Building the Business Modification / Pivot
Opportunity Identification (discovery, recognition, or creation)
* Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014)
Idea Product / Service Team Execution
Business Opportunity
Idea
Entrepreneurship
11
Rainy Day Cigarette Holder (1954)
– Is this an opportunity?
Idea Generation Evaluation * Exploitation (or exploration or execution)
Entrepreneurship
…it is a process full of multiple actions…
Startup Building the Business Modification / Pivot
Opportunity Identification (discovery, recognition, or creation)
* Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014)
Idea Product / Service Team Execution
Idea Generation
Will provide a general sample of how to generate ideas
How does an individual(s) come up with an idea that can possibly turn into a business opportunity?
Observe / be aware / be alert / be curious
Positive Attitude & Open-mindedness
– Hiring at Zappos (CEO: Tom Hseih)
– Question they ask in an interview:
– Study: • Asked them if they were lucky • Then had them read a newspaper and count how many photos • Some headlines said: “There are 37 photos, stop now and collect
$100”
• Conclusion: Lucky people tend to be open to a wider realm of options and solutions – thus can work with more people and come up with more creative ideas (“be creative and a little weird” – from Zappos culture definition)
Do you consider yourself lucky?
Positive Attitude & Open-mindedness
– Believe it can be done – Get in the habit of thinking up ideas – Keep an idea journal – Look for better ways to do things – See problems as opportunities – Relax, daydream – Think young – Be curious – Inspire yourself
“Problems don’t get solved by the smartest or the fastest or the strongest; they get solved by the one who sees the possibilities.” – Dan Roam
17
Introduction Look for Problems (see them as opportunities)
Introduction Look for Problems (see them as opportunities)
Look for Problems (see them as opportunities)
Look for Patterns / Changes
Prior Knowledge (and interests)
Connected, engaged with the environment
Connected, engaged with the environment
Connected, engaged with the environment
Effectuation (vs. Causation)
Sfeehas.com
Idea Generation (sample – 7 only)
1. Observe / be aware / be alert / be curious 2. Positive attitude and openmindedness 3. Look for problems (see them as opportunities) 4. Look for patterns / changes 5. Use your prior knowledge and interests 6. Connect / engage with the environment 7. Effectuation (vs. causation)
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Idea Generation Evaluation * Exploitation (or exploration or execution)
Entrepreneurship
…it is a process full of multiple actions…
Startup Building the Business Modification / Pivot
Opportunity Identification (discovery, recognition, or creation)
* Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014)
Idea Product / Service Team Execution
Action: Evaluation – Startup [ Books ]
Action: Evaluation – Startup [ Books ]
Idea Generation Evaluation * Exploitation (or exploration or execution)
Entrepreneurship
…it is a process full of multiple actions…
Startup Building the Business Modification / Pivot
Opportunity Identification (discovery, recognition, or creation)
* Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014)
Idea Product / Service Team Execution
31
Have Fun and Learn (Be Curious / Be Creative to Create)
Contact Info
John Mueller E: [email protected] E: [email protected] Twitter: @golfmomo Facebook: facebook.com/golfmomo