Recognizing Opportunities for Entrepreneurs

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Where are the opportunities?
Where do they come from?
Are there rules for finding opportunities?

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Recognizing Opportunities for Entrepreneurs

  1. 1. Recognizing Opportunities Mohammad Tawfik Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  2. 2. Not all good ideas are good opportunities for entrepreneurs Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  3. 3. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  4. 4. The product, what, who, when, how, and for whom? Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  5. 5. Creativity vs. Innovation Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  6. 6. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  7. 7. Creativity – the ability to develop new ideas and to discover new ways of looking at problems and opportunities Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  8. 8. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  9. 9. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  10. 10. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  11. 11. Innovation – the ability to apply creative solutions to problems and opportunities to enhance or to enrich people’s lives Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  12. 12. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  13. 13. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  14. 14. Timmons’ Business Opportunity = Idea + Four Characteristics Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  15. 15. Attractive to customers Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  16. 16. Will work in the business environment Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  17. 17. Can be executed in an existing window of opportunity Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  18. 18. Available resources and skills needed to create the business Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  19. 19. Use SWOT analysis to recognize a good opportunity Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  20. 20. An opportunity may arise from: Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  21. 21. A problem Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  22. 22. A change Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  23. 23. An invention Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  24. 24. A competition Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  25. 25. A technological advancement Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  26. 26. Routes to Finding Opportunities Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  27. 27. Self- or group-developed business ideas through brainstorming Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  28. 28. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  29. 29. Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  30. 30. Researching “hot” business ideas or growth areas Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  31. 31. Starting with a product or service idea, and then searching for a market Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  32. 32. Assignment! ● ● ● ● Come up with an idea for a business! Identify the characteristics that would make it viable Describe the points of Strength, Weakness, Opportunity, and Threats Present it in writing and in the form of mind-map Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  33. 33. References ● ● Entrepreneurship and Small Business Management, 1/e, Steve Mariotti and Caroline Glackin, 2012, Pearson Education Effective Small Business Management, 10/e, Norman M. Scarborough, Prentice Hall, 2011 Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com

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