"Let him that would move the world, first move himself Socrates
Ian Hardcastle - Zhang Guo Daniel Caballeros Nicole Camacho
Kimberly Cafarelli
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Good Opportunities address important market needs. Any Big
Problem is a Big Opportunity: No Problem, no solution, no company.
Find a Long wave, immutable trend that will last. Important to
match capabilities and interests Mobilize Resources
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Innovations in Energy Information Technology
Bio-Engineering
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Not all risk can be removable Entrepreneurs are people that are
willing to take risk Focus on managing risk instead of taking risk
Two types of risk in a new venture: The risk of the uncertainty
surrounding the business The Market Risk Operational Model Risk
Financial Model Risk The risk of what is at stake if the business
fail Opportunity Risk Financial Risk Avoid Paralysis by
Analysis
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A. EXTERNAL RISK B. INTERNAL RISK The Market risk A large
enough market to support the business Whether the market is growing
What trend exist in the industry How competition is structure
Distribution of products/services Operational Model Risk A
businesss internal operation to deliver goods and services to
customers effectively Financial Model Risk The number issue that
determines if a business can work or not Opportunity Risk A risk
that comes if the business fails and it allows you to do something
else with your time and money Financial Risk The tangible value
that you and the investor lose if the business fails
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Strategic Planning Rely on subjective assumptions &
qualitative marketing research Interview potential clients &
relevant business partners Information to be collected in order to
decrease level of uncertainty Macro environment Competitive trends
Consumer behavior trend Partial SWOT
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Business Model Mission statement Target audiences Branding
Develop a logo or company name Business Website or Webpage About us
section highlighting the businesss mission statement Keywords for
search optimization Communication Send emails or letters to
clients, influential third-parties, or customers Public Relations
Social Media Strategy
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Growth is one of the most essential elements to make your new
venture successful.
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Organization Life Cycle Model Churchill & Lewis Growth
Model
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Introduced in 1972 As new ventures grow they are faced with
different opportunities, threats and changes Each stage must go
through a crisis in order to move to the next stage of growth.
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Lacks important elements that are needed for a business to grow
such as: Networking and making relationships with clients and other
vendors Securing finances of the company Keeping up with new
technologies Does not take into consideration the size of the
business; one dimensional
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Revised version of Greiners model. Introduced in the early
1980s Published in the Harvard Business Review in 1983 Covers more
specifics and detail than Greiners model, especially relating to
management.
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Each stage breaks down into different management factors:
Managerial style Organizational structure Extent of formal systems
Major strategic goals Owners involvement
