Copyright © 2003 by South-Western/Thomson Learning. All rights reserved. O'Malia and Whistler Welcome to The Entrepreneurial Journey Ch. 3: Finding Your.

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Copyright © 2003 by South-Western/Thomson Learning. All rights reserved. O'Malia and Whistler Welcome to The Entrepreneurial Journey Ch. 3: Finding Your Idea

The Entrepreneurial Journey O'Malia & Whistler 2 Good Of The Order... G O T O

The Entrepreneurial Journey O'Malia & Whistler 3 Let’s review our journey to date

The Entrepreneurial Journey O'Malia & Whistler 4 This Session Customer vs. product driven Four stages of an entrepreneurial company The idea and recognizing opportunity Protecting your idea Up Front & Personal: ‘Food from the Hood Journey: Kiyonna Klothing

The Entrepreneurial Journey O'Malia & Whistler 5 The search for the idea that is right for you

The Entrepreneurial Journey O'Malia & Whistler 6 Customer vs. Product Driven Start with a customer

The Entrepreneurial Journey O'Malia & Whistler 7 Four Stages The journey is typically undertaken in stages

The Entrepreneurial Journey O'Malia & Whistler 8 Stage 1—idea to first Focus on customer Never assume you are like the customer Your market is not your customer Big guys fail 99% of the time

The Entrepreneurial Journey O'Malia & Whistler 9 Stage 2—first to multiple Initial customers provide credibility Growing from one to many From “I” to “We”

The Entrepreneurial Journey O'Malia & Whistler 10 Stage 3—multiple to multiple Establish needs and fulfill them Don’t revert to management

The Entrepreneurial Journey O'Malia & Whistler 11 Stage 4—multiple to harvest Policies and procedures— necessary evil Two primary options—sell or reinvent and reposition

The Entrepreneurial Journey O'Malia & Whistler 12 Get physical fast!

The Entrepreneurial Journey O'Malia & Whistler 13 Very few pure, new ideas

The Entrepreneurial Journey O'Malia & Whistler 14 Start in own backyard

The Entrepreneurial Journey O'Malia & Whistler 15 Food from the ‘Hood

The Entrepreneurial Journey O'Malia & Whistler 16 Are you an organizational entrepreneur?

The Entrepreneurial Journey O'Malia & Whistler 17 New vs. need

The Entrepreneurial Journey O'Malia & Whistler 18 Structure your search

The Entrepreneurial Journey O'Malia & Whistler 19 Be wary of... Fads... Shooting stars burn out New inventions... Long time to market

The Entrepreneurial Journey O'Malia & Whistler 20 Journey Three: Kiyonna Klothing

The Entrepreneurial Journey O'Malia & Whistler 21 Creativity Freedom fosters creativity Start a creativity lab Meet Strangers Record your conversations Form a round table of experts

The Entrepreneurial Journey O'Malia & Whistler 22 Create Opportunities Visit every booth at a trade show Ask questions of competitors? Why are businesses for sale?

The Entrepreneurial Journey O'Malia & Whistler 23 Protecting Your Idea Legal vs. tactical approach Legal protection is not always clear cut

The Entrepreneurial Journey O'Malia & Whistler 24 What opportunities can you create?

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