Creativepreneurship: Introduction to Creativepreneurship

Introduction to Creativepreneurship

What is Opportunity? Opportunity is a favorable set of circumstances that creates a need for a new product, service or business.

Opportunity has four essential qualities

Attractive
Timely
Durable
Anchored in a product service, or business that create or adds value for its buyer or end buyer

There is three ways to identify an opportunity

There is two approach

- Trends create opportunities for entrepreneurs to pursue.

- The most important trends are: 1. Economic forces

2. Social forces

3. Technoligical advances

4. Political and regulatory change

- It's important to be aware of changes in these areas

2. Solving a problem: 1. Sometimes identifying opportunity simply involves noticing a problem and finding a way to solve it

2. These problems can be pinpointed through observing trends and through more simple means

3. Many companies have been started by people who have experienced a problem represented a business oppurtunity

Personal Characteristics of the Entrepreneur

Characteristics that tend to make some people better at recognizing opportunity than others

Prior Experience : Several studies have shown that prior experience in an industry helps an entrepreneur recognize business industry helps an entrepreneur recognize business opportunities.
Cognitive Factors : Studies have shown that opportunity recognition may be an innate skill or cognitive process
Social Networks : The extent and depth of an individual's social network affect opportunity recpgnition
Creativity : Is the process of generating a novel or useful idea

Techniques for Generating Ideas

Other Techniques