Lessons In Opportunity


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Slide deck for facilitating an entrepreneurship program focused on mindset, one of the most important predictors of entrepreneurial success. This is from a lesson based on Who Owns The Ice House from the Kauffman Foundation. Ice House Entrepreneurship training is offered in a blended classroom (online, texts, and live instruction) at StepUp, an adult learning environment designed to inspire individuals to plan and take action steps now to develop their business idea(s). The deck is designed to encourage discussion and facilitate development of critical thinking skills.

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  • What have you learned from someone already in this class that sparks curiosity or a new idea?
  • "Take a complainer to lunch." Look for unhappy, dissatisfied people. They may point out needs and wants that you could fill.
  • Everyone has both success, and failures. FAIL FORWARD.
    Failure= First Attempt in Learning
  • Cogs are fixed in an unchanging rotating orbit. FIXED.
    Plan, Do, Check, Act
  • Time is money!
    1440 minutes –
    How do we look at our time differently when we think of it in terms of dollars or currency?
  • Information and automation – convenience
    Online learning
    Free learning
    What are you doing with what you know?

  • Information and automation – convenience
    Online learning
    Free learning
    What are you doing with what you know?

  • Mindset is missing in this Wordle!
  • Lessons In Opportunity

    1. 1. Recognizing Opportunity Mary Jane Clark, Certified Ice House Facilitator 2014 Contact mjclark@stepupministry.org
    2. 2. S t e p U p E n t r e p r e n e u r s h i p Lesson #2 Recognizing Opportunity
    3. 3. entrepreneur
    4. 4. Ques tion Entrepreneur is a slightly pretentious word! What does it mean? • Entrepreneurship doesn’t necessarily mean high tech, high growth, big risk, all-consuming effort, financial risk, or even something new. • Entrepreneurship is having the motivation to start something and to explore possibilities to earn profit.
    5. 5. Ans wer Entrepreneurship is mindset … a set of beliefs or way of thinking that determines one’s behavior, outlook, mental attitude, plus one’s capacity to take action.
    6. 6. Ideas? Look for what’s not working Entrepreneurs solve problems for profit. It can include simply improving a process.
    7. 7. Look for opportunities It can include figuring out how to monetize a hobby or passion. Ideas?
    8. 8. Look close to home If you can make it work, you may have found an incredible opportunity. It can include solving everyday problems in your own life! Ideas?
    9. 9. Reality Spanx: Sara Blakely started with a problem, an idea, $5,000 and a NC textile manufacturer. The textile industry’s decline played a significant role in the manufacturer’s decision to accept her order for “footless” pantyhose. They called it crazy.
    10. 10. Got Questions? Why do children ask the most difficult questions? Natural curiosity?
    11. 11. Problem Why have adults quit asking important questions? Is creativity is being killed by our educational system? • Systems are for mass production. • Systems demand compliance. • Systems are for replication. • We are not cogs!
    12. 12. Demographic s Your future is entirely in your hands. Studying demographic trends is one key to identifying opportunities.
    13. 13. Headline The Future of Employment? Lower hours, low wages, low skills, no benefits and no security.
    14. 14. Ques tion What is the level of engagement in America of people in their jobs?
    15. 15. Factoid 70% Does this figure ring true in your life? What else might it mean? Thank you Gary Schoeniger of Kauffman Labs for sharing this fascinating information!
    16. 16. Your Proc es s • PLAN by defining a specific opportunity and understanding how it is valuable in the business world. • DO take concrete steps to test and document the idea. Just do it! • CHECK what needs improvement or adjustment. • ACT on the plan and work your strengths.
    17. 17. Watch PBS To enlarge Your world! Ideas ? Everywhere… all time!
    18. 18. As an opportunity specialist, you will have the advantage if trends, patterns, problems, and changes are detected before others have noticed— and then you can put those ideas into a plan and take action to achieve a potential profit. So, what’s the problem? Opportunity
    19. 19. Fear or challenges? Can we talk? X- Factor
    20. 20. W h a t d o y o u e n v i s i o n ? Learn to recognize patterns as they are forming. What trends are apparent here? I magine
    21. 21. D o T h e M a t h ! How can you combine products or ideas to create value and make money? Expansion Theory
    22. 22. Valuable opportunities can often arise when two or more things are brought together for opportunity examination. Combos Combining • Ideas • Forces • Products
    23. 23. What Is The Potential Value of Combining Ideas, Products and Forces? { } = Question
    24. 24. T h i s i s w h y y o u h a v e t w o e a r s — a n d o n l y o n e m o u t h ! U s e t h e m w i s e l y ! Characteristics Listening
    25. 25. Characteristics
    26. 26. Write about an opportunity you’ve recently spotted: This is recognizing opportunity. Seek simple solutions, common-sense, ideas or changes rooted in reality, good service ideas, automation, simplifying a cumbersome process, improving outcomes for customers. Always ask: Where’s the pain? Activity
    27. 27. Discuss Brainstorm Breakout!
    28. 28. Ac tions • Identify and cultivate mentors. Look for contented people. Here you will find insight into what has worked and what might work better. • Look for contrarians. They complain all day for free! • Pay close attention to all types of people, ask more questions, listen— to the world around you. • Opportunities are everywhere. Little steps! Maximize your lunch hour!
    29. 29. Free Ideas
    30. 30. W h a t s e c t o r s a r e i n v o l v e d i n r e c y c l i n g ? Recycle old products by looking for "left-behind" markets or untapped markets—old cars, older model computers, tape and record players, televisions, books. As long as people continue to use certain things, they continue to have needs. Look for new adaptive uses or secondary markets for old products—old jeans, natural fabrics, tires, end pieces of lumber, record players, records, CDs, computer mother boards, etc. Idea- Work in our lab on the project with Teaming 4 Technology Got Nothing?
    31. 31. Get Going Look for what has worked elsewhere? Examine the concept in depth. • History is a powerful teacher. • New ideas are great, but not required. • Copy-catting is fine if you can do it better!
    32. 32. Case Study In 2011, StepUp launched three initiatives: Vocational Training: Fiber Optics, Auto Mechanics, Customer Service and Management. Mixed results. Rethinking how! YELLOW = CAUTION! Veterans: Job readiness and job placement for Veterans. Unintended consequences. RED LIGHT = STOP Entrepreneurship Program: Teach graduates how to run a successful business. GREEN LIGHT! We’re even adding to it!
    33. 33. I nnov at iv e We are not cogs! If you are dissatisfied in your work, then develop your mindset. Make a plan, do it, check the plan and act on your ideas. Repeat.
    34. 34. Inquiry A genie has granted your wish for financial freedom and you will receive $1,440.00 daily for life! *You must spend all of it every day. What will you do with it? We all have the exact same amount of time each day. 1440 minutes. Time is money! Focus your time, dream big, and make a firm plan. Experiment in the margins of your life.
    35. 35. What’s Hot Now? Information is the world’s new currency!
    36. 36. 1. Finish reading Who Owns the Ice House? 2. Watch your video lesson online and take notes. 3. Complete the assignment in your workbook. 4. Fill in your Opportunity Discovery Canvas. Assignment
    37. 37. Expectations Please describe in detail on your canvas… • the problem being solved (opportunity) • your specific product or service (idea) • solutions currently available (OR) • how your product or service is different (USP) • estimate how many people have this problem (scope) • how you will reach potential customers (marketing) • why will customers buy from you (their value) • how they will buy from you (process) • formulate a specific plan as to how you will test these assumptions in the real world.(test)
    38. 38. Decide how to test your assumptions over the next month in the real world. Your Mission
    39. 39. Lessons In Opportunity Mary Jane Clark, Certified Ice House Facilitator 2014 Contact mjclark@stepupministry.org Live Link