This document discusses entrepreneurship and evaluating business ideas. It begins by defining entrepreneurs and describing trends affecting entrepreneurship like technology, competition, and customer focus. It then discusses choosing a business idea, including evaluating strengths/weaknesses, market needs, and competition. Finally, it outlines steps for evaluating an idea in depth, including questions to consider around market size, costs, competition, and financial projections. The overall document provides an overview of entrepreneurship and guidance on selecting and assessing potential business ideas.

1. PRESENTATIONBUSINESS IDEA AND
ITS EVALUATION

2. PART-I
ENTREPRENEURSHIP IN A
CHANGING
ENVIRONMENT

3. TRENDS IN ECONOMIC
DEVELOPMENT
IMPORTANCE OF HUMAN RESOURCES
TECHNOLOGY AS A RESOURCE
HIGH DEGREE OF COMPETITION
IMPORTANCE OF INNOVATION
GOVERNMENT AS STIMULATOR
ENTREPRENEURIAL/INTRAPRENEURIAL
DEVELOPMENT
QUALITY AS A GOAL
INNOVATIVE CAPITAL FORMATION
SUPREMACY OF THE CUSTOMER

4. COLLABORATIVE RELATIONSHIPSACADEMIA/INDUSTRY
WOMEN ENTREPRENEURS

5. MANAGERIAL SKILLS
TOP
T
C
H
MID
T
FIRST
T
H
C
H
C

6. WHO/WHAT IS AN ENTREPRENEUR
“AN INDIVIDUAL WHO BEARS THE RISK OF
OPERATING A BUSINESS IN THE FACE OF
UNCERTAINTY ABOUT FUTURE CONDITIONS”
ENCYCLOPAEDIA BRITTANICA

7. “AN ENTREPRENEUR IN AN ADVANCED ECONOMY IS
AN INDIVIDUAL WHO INTRODUCES SOMETHING NEW
IN THE ECONOMY- A METHOD OF PRODUCTION NOT
YET TESTED BY EXPERIENCE IN THE BRANCH OF
MANUFACTURE CONCERNED, A PRODUCT WITH
WHICH THE CONSUMERS ARE NOT FAMILIAR, A NEW
SOURCE OF RAW MATERIALS, NEW MARKETS AND
THE LIKE----TO REFORM OR REVOLUTIONIZE THE
PATTERN OF PRODUCTION BY EXPLOITING AN
INVENTION------”
JOSEPH SCHUMPETER

8. NEW
QUALITY
NEW MKTS
NEW
PRODUCT
INNOVATION
NEW
SOURCE OF
SUPPLY
CHANGES IN
ORG
CHANGES IN MKT

9. CHARACTERISTICS OF AN
ENTREPRENEUR
DRIVER OF CHANGE
CALCULATED RISKS
SUCCESS/FAILURE
PLANNING ACTIVITIES
IS PROGRESSIVE
NEW TECHNOLOGY FOR IMPROVEMENT
CUSTOMER NEEDS
CREATING VALUE
OPPORTUNITIES
MGT AND ADMIN

10. TODAY ENTREPRNEUR------PERCEIVES OPPORTUNITIES FOR PROFITABLE
INVESTMENT
OBTAINS NECESSARY INDUSTRIAL LICENCES
ARRANGES INITIAL CAPITAL
PROVIDES PERSONAL GUARANTEES
SUPPLIES TECHNICAL KNOWHOW

11. PART II-YOUR
CURRENCIES

12. IF YOU HAVE BUILT CASTLES IN THE
AIR, YOUR WORK NEED NOT BE
LOST;THAT’S WHERE THEY SHOULD
BE. NOW PUT THE FOUNDATION
UNDER THEM
HENRY THOREAU

13. ASK YOURSELF------♦ WHAT IS IT THAT DRIVES YOU?
♦ WHAT ARE YOUR CURRENCIES? Are they--♦ MONEY
♦ RECOGNITION
♦ COURAGE
♦ VICTORY
♦ ACCEPTANCE
♦ HEALTH

14. TAKE ADVANTAGE OF ---♦ A DISCERNING EYE
♦ ABILITY TO ASSESS A BUSINESS RISK
♦ DURABILITY EARLIER ON
♦ GOOD PLANNING-FINANCIAL AND OPERATIONAL
MILESTONES
♦ PROFESSIONAL PRESENTATION AND COMMUNICATION.
♦ TEAM ORIENTED APPROACH
“FORGET ABOUT BEING RICH: BE RICH IN YOUR HEART, IN
YOUR SOUL, IN YOUR MIND”
RAY KROC

15. WATCH OUT FOR----♦
♦
♦
♦
♦
♦
♦
♦
♦
SHORT TERM THINKING
UNFORGIVING NATURE WITH STAKE HOLDERS
EMOTIONAL INSTABILITY
LONER MENTALITY
LACK OF BALANCE
SELF- ABSORBED PEOPLE
ACRIMONY
LOSS OF FOCUS
FEAR OF MAKING TOUGH DECISIONS
“STARTING YOUR OWN BUSINESS IS MORE THAN JUST A
PROFESSIONAL PATH– IT IS A WAY OF LIFE”
KALIEL ISAZA TUZMAN

16. ENTREPRENEURIAL TRAITS
RISK TAKING
VALUES
INNOVATION
ETHICS
OP
EXCELLE
NCE
CHARACTER
VISION
ORG SKILL

17. PROFILES OF NON ENTREPRENEURS
SHOTGUN SAM
IDENTIFIES NEW
PROMISING
BUSINESS OPPORTUNITIES-RARELY
FOLLOWS THRU
SIMPLICITY SUE
TYPE WHO THINKS
BUSINESS IS A SERIES
OF SIMPLE SOLNS

18. PRIMA DONNA PAUL
IN LOVE WITH
HIS OWN IDEASDOES NOT GIVE
OR ACCEPT
HELP
RALPH THE ROOKIE
THEORETICAL
UNDERDOG ED
ATTENDS
SEMINARSNOT ACTIONORIENTED

19. INVENTOR IRVING
IS CONCERNED
MORE WITH
INVENTION
THAN WITH
PRACTICAL USE

20. PARADIGM SHIFTS IN ORGANIZATIONAL
DESIGN
VERTICAL
STRUCTURE
ROUTINE
TASK
HORIZONTAL
STRUCTURE
EMPOWERED
ROLES
FORMAL
SHARED
SYSTEMS
INFO

21. RIGID
ADAPTIVE
CULTURE
CULTURE
COMPETI-
COLLABORA-
TIVE
TIVE
STRATEGY
STRATEGY

22. PART III CHOOSING
AN IDEA

23. CHOOSING AN IDEA
IMPORTANCE OF CHOOSING MORE THAN ONE
IDEA
WEIGH INTRINSIC CAPABILITIES OBJECTIVELY
AMOUNT OF EXPERIENCE AT HAND
DEGREE OF PROFITABILITY IN THE PROJECT
LOCATIONAL ADVANTAGES
IMPORTED/INDIGENOUS RAW
MATERIAL/MACHINERY
AVAILABILITY OF WORK FORCE
TECHNOLOGY

24. ADOPTION PROCESS
AWARENESS
INTEREST
EVALUATION
TRIAL
ADOPTION

25. SWOT ANALYSIS
EDUCATIONAL BACKGROUND
KNOWLEDGE OF FINANCE AND
MARKETING
FINANCIAL STRENGTHS
COMMITMENTS
EXPERTISE AND INTEREST
PERSONAL QUALITIES
PRIOR EXPERIENCE

26. CONSUMER BEHAVIOUR
WHAT DO PREOPLE/ORGANIZATIONS BUY
WHAT DO THEY WANT AND CANNOT BUY
WHAT DO THEY BUY AND DON’T LIKE
WHY DO THEY BUY
WHERE DO THEY BUY
WHAT ARE THEY BUYING MORE OF
WHAT ELSE MIGHT THEY NEED BUT CANNOT
GET

27. CHANGES IN PRODUCTS
LARGER/SMALLER/HEAVIER/LIGHTER/FASTER/SL
OWER.
CHANGE OF COLOUR,MATERIAL AND SHAPE
ALTERING QUALITY/QUANTITY
INCREASING MOBILITY/ACCESS/PORTABILITY/
DISPOSABILITY
SIMPLIFYING REPAIR/MAINTENANCE
AUTOMATION/CONVENIENCE
NEW FEATURES/ACCESSORIES/EXTENSIONS

28. IMPROVING USABILITY/PERFORMANCE/SAFETY
BROADENING/NARROWING RANGE
IMPROVING QUALITY OF SERVICE

29. LOCATING IDEAS/SUGGESTIONS
FRIENDS/RELATIVES
ONE IDEA TO SPARK A BETTER ONE
EXISTING ENTREPRENEURS
TRADE MAGAZINES
KEEPING UP WITH CURENT EVENTS
INVESTIGATING OTHER MARKETS
R AND D
GOVERNMENT

30. TASKS AT HAND
DISCUSS PRODUCTS/SERVICES WITH
PROSPECTIVE CUSTOMERS
ASSESS MARKET USING DESK AND FIELD
RESEARCH
ANALYSE COMPETITION
CONSIDER START UP STRATEGIES
PREPARE INITIAL FINANCIAL PROJECTIONS
PREPARE SIMPLE ACTION PLAN
CRITICALLY EXAMINE IDEA FROM ALL
ANGLES

31. SUBSEQUENT STEPS
DETAILED MARKET RESEARCH
PRODUCT RESEARCH/DEVELOPMENT TESTING
START UP AND DEVELOPMENT STRATEGIES
OUTLINE BUSINESS PLAN
IDENTIFY KEY RESOURCES/COMMUNICATION
NEEDS
SELECTION OF COMPANY NAME/LOGO, METHOD
OF OPERATION
LEGAL ASPECTS
PROFESSIONAL ADVICE

32. SKILLS AUDIT
OPERATION WITHIN EXPERTISE/RESOURCES
SMART TARGETS
SIMPLE PLAN
EXTERNAL INFLUENCES(PESTLE ANALYSIS)
PRIORITIZING WORK
ACTION PLANS FOR SELF DEVELOPMENTCPD

33. PPAND D PROCESS
IDEA STAGE
IDEA
EVALUATION
CONCEPT STAGE
LAB DEVELOPMENT
EVALUATION
PD STAGE
PILOT PRODUCTION RUN
EVALUATION
TEST MARKET STAGE
SEMI-COMMERCIAL PLAN TRIALS
EVALUATION

34. PRODUCT LIFE CYCLE
INTRODUCTION
GROWTH
MATURITY
DECLINE

35. DETERMINING NEED FOR NEW
PRODUCT IDEA
TYPE OF NEED
TIMING OF NEED
COMPETING WAYS TO SATISFY NEED
PERCEIVED BENEFIT/RISK
PRICE VS PERFORMANCE FEATUTRES
MARKET SIZE AND POTENTIAL
AVAILABILITY OF CUSTOMER FUNDS
CASH OUTFLOW
CASH INFLOW
NET CASH FLOW
PROFIT
RELATIVE RETURN
COMPARED WITH OTHER INVESTMENTS

36. UNDERSTANDING OF PPAND D
CLEAR UNDERSTANDING OF AVAILABLE
TECHNOLOGY AND FUTURE TRENDS
UNDERSTANDING EXISTING PRODUCTS IN THE
MARKET
MARKET SEGMENTATION/TARGET MARKET
INVOLVES STUDY OF PIM, PID, PIC.
IMPACT OF PRODUCT IN THE MARKET
LAUNCH TIMING,RISK, INTENDED PRODUCT
PERFORMANCE

37. NATURAL GOALS
COMPETITIVE ADVANTAGE
FINANCIAL PERFORMANCE
CUSTOMER RELATIONSHIP/PREFERENCE
CORPORATE STEWARDSHIP
SUSTAINENCE OF CUSTOMER BASE
FORESIGHT AND EVOLUTION

38. PROBLEMS AND CHALLENGES
UNCLEAR/CONFLICTING GOALS
STRATEGIC MIS –MATCH
PROCESSES AND PROCEDURES
INFORMATION/ASSUMPTION
LEADERSHIP AND MANAGEMENT

39. LEADERSHIP ISSUES
PERSONAL CHARACTER
MASTER COMPETENCIES
SET DIRECTIONS
BUILDING ORGANIZATIONAL
CAPABILITIES
MOBILIZING INDIVIDUAL
COMMITMENT

40. PART IV
EVALUATION OF
THE IDEA

41. FOURTEEN BASIC QUESTIONS
WHAT IS THE NEED YOU FILL AND THE
PROBLEM YOU SOLVE
WHO ARE YOU SELLING TO
HOW WOULD YOU MAKE MONEY
HOW WOULD YOU DIFFERENTIATE YOUR
COMPANY
WHAT ARE THE BARRIERS TO ENTRY
HOW MANY COMPETITORS/THEIR QUALITY
HOW BIG IS YOUR MKT(IN MONEY TERMS)
HOW FAST IS THE MARKET
GROWING/SHRINKING

42. WHAT PERCENTAGE OF THE MARKET DO
YOU BELIEVE YOU COULD GAIN
WHAT TYPE OF COMPANY WOULD THIS BE
HOW MUCH WOULD IT COST TO START UP
DEBT CAPITAL OR RAISE INVESTMENTWHAT TYPE
DO YOU PLAN TO SELL YOUR COMPANY
OR GO PUBLIC ONE DAY
WHAT WOULD BE THE RETURN YOUR
INVESTORS WOULD GET IF THEY INVEST IN
YOUR VENTURE

43. RAMP MODEL
R-RETURN
R-EXIT STRATEGY
R-IS IT PROFITABLE
R-TIME TO BREAK EVEN
R-INVESTMENT NEEDED
A-ADVANTAGES
A-COST STRUCTURE
A-BARRIERS TO ENTRY
A-INTELLECTUAL
PROPERTY
A-DISTRIBUTION
CHANNEL

44. M-MARKET
M-NEED
M-TARGET MKT
M-ANALYSIS OF
TGT MKT/SIZE
M-PRICING
P-POTENTIAL
P-RISK/REWARD
P-THE TEAM
P-TIMING
P-GOAL FIT

45. LEGAL ISSUES
PATENTS
TRADEMARKS
TRADE SECRETS
COPYRIGHTS
LICENSING
CONTRACT
PRODUCT SAFETY AND LIABILITY
INSURANCE
SELECTING A LAWYER