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Recognizing Opportunities for Entrepreneurs

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Mohammad Tawfik
Mohammad Tawfik

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

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Recognizing Opportunities Mohammad Tawfik Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Not all good ideas are good opportunities for entrepreneurs Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
The product, what, who, when, how, and for whom? Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Creativity vs. Innovation Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
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
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
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
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Timmons’ Business Opportunity = Idea + Four Characteristics Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Attractive to customers Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Will work in the business environment Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Can be executed in an existing window of opportunity Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Available resources and skills needed to create the business Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Use SWOT analysis to recognize a good opportunity Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
An opportunity may arise from: Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
A problem Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
A change Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
An invention Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
A competition Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
A technological advancement Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Routes to Finding Opportunities Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Self- or group-developed business ideas through brainstorming Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Researching “hot” business ideas or growth areas Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
Starting with a product or service idea, and then searching for a market Recognizing Opportunities Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
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
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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