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    Opportunity Recognition, Shaping and Re-Shaping: Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©

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    Opportunity Recognition, Shaping and Re-Shaping: Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©

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    ganool dw1
    47 views11 pages

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    Copyright:

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    Download as ppt, pdf, or txt
    47 views11 pages

    Opportunity Recognition, Shaping and Re-Shaping: Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©

    Uploaded by

    ganool dw1

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 11

    Chapter 3

    Opportunity Recognition,
    Shaping and
    Re-shaping

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    Idea-to-opportunity transition

    Viable
    Seed of idea Idea
    Opportunity

    Professional Idea
    Passion
    Experience Multiplication

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    Idea multiplication – IDEO
    technique
    Gather
    1 Stimuli
    Observe

    Multiply
    2 Stimuli
    Brainstorm/brain-write

    Create
    3 Customer Build a simple mock up
    Concepts

    Optimize
    4 Practicality
    Add/remove features

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    The opportunity space

    Global Business Environment

    Competitors

    Suppliers Your Company Customers Competitors

    Competitors
    Government Regulations

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    The customer
    Target Audience Categories
    Primary Secondary Tertiary
    Target Audience Target Audience Target Audience

    Common Demographic/Psychographic Categories


    Demographics Psychographics
    Age Social group (e.g., white collar, blue
    Gender collar, etc.)
    Household Income Lifestyle (e.g., mainstream, sexual
    Family Size/Family Lifecycle orientation, materialistic, active, athletic,
    Occupation etc.)
    Education Level Personality Traits (Worriers, Type A’s,
    Religion Shy, Extroverted, etc.)
    Ethnicity/Heritage Values (Liberal, Conservative, Open-
    Nationality Minded, Traditional, etc.)
    Social Class
    Marital Status

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    Macro trends
    Important Trends over the Last 50 Years
    Trend Impact
    Baby Boom Generation Pampers, Rock & Roll, Television,
    Minivans, Real Estate,
    McMansions, etc.
    Personal Computing Internet, media on demand,
    electronic publishing,
    spreadsheets, electronic
    communication
    Obesity Drain on healthcare system, growth
    of diet industry, changes in food
    industry, health clubs, home gyms
    Dual-Income households Child care, Home services –
    landscaping, house cleaning,
    prepared foods

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    S-curve
    Market Adoption

    1 2 3

    Time

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    Setting prices

    Price

    Assessing Market
    Penetration Pricing Cost-plus Pricing Prices for Competing
    Strategy Strategy Products
    Strategy

    Requires Price May Not


    Enormous Match The Best Option
    Financing The Value

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    Reaching customer – the value
    chain
    Example - Value Chain of Gourmet Chili
    Base
    Ingredients Gourmet Food Grocery
    -Beef, Chili Distributors Stores
    Sauce, etc.
    -From Food
    Distributor

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    Learning about “stealth”
    competitors
    Business
    Angels
    and
    VCs

    Sources
    Of
    Intelligence

    Suppliers Databases

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©
    Opportunity checklist

    Global
    Customer Competition Vendors Government
    Environment

    Price/
    Market
    Trends Market size Frequency/ Distribution
    Growth
    Value

    Key Success
    Factors

    Bygrave & Zacharakis, 2007. Entrepreneurship,


    New York: Wiley. ©

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