1. New Venture Development Week-3
Instructor: Bora ÖZKENT

2. Today’s Agenda Goals Discussion Topics
Identify sources of information for finding and screening venture opportunities.
Conceive of the “next sea-changes” related to recent advances in technology, and societal, demographic, and environmental trends.
Explain the role that ideas, pattern recognition, and the creative process plays in entrepreneurship.
Define the differences between an idea and an opportunity.
Assess opportunity via a zoom lens on the criteria used by successful entrepreneurs, an-gels, and venture capital investors in evaluating potential ventures.
Discussion Topics
Discussion-1: Where do good ideas come from?
Exercise 4- Idea generation guide

3. Customer Development Model

4. Idea to Opportunity
Have we identified a problem a customer wants to see solved?
Does our product solve this customer problem or need?
If so, do we have viable and business model?
Have we learned enough to go out and sell?

5. Discussion 1
Where do good ideas come from?

6. Sources of Ideas Opportunity Screening Innovation
Sea (ecosystem) changes
Trend spotting
Pattern recognition
Cloning, Inspiring, Adapting
Social networks
Past Experience
Innovation
Coincidence/Accident
Problem/need observation
Blue ocean strategy
Creative thinking
Customer development

7. Sea Changes
5-7

8. See Changes and Business Opportunites
Sea Change
Venture
Apple Store
3 D Printing
Customer Experience
Value Chain Change
Political Sea Change
Apps
Omote 3D
Simit Sarayı
Amazon.Com
Business in Northern Iraq

9. What Sea Changes Do You Observe?
Global
Politics
YOU
Customer
Trends
Value Chain
Changes
Economy
Paradigm
Shifts
Politics
New
Technology
Nature &
Environment
Rules &
Procedures

10. Opportunities By Observing Existing Businesses
Trend Spotting
Cloning
Inspiring
Adapting
Brontosaurus Effect
Cloo and Sharing Economy
Ebay-Gittigidiyor
Aldi-Bim
Walmart-Staples
Sompa Japan

11. RAIN
React
Assume
INsist

12. Yes but... We tried that before… This won’t work because… We have no time... What good is it for us? Prepare a presentation about it... This will cost too much... It sounds good in theory but...

13. SUN
Suspend
Understand
Nurture

14. Sources of Ideas Opportunity Screening Sea (ecosystem) changes
Trend spotting
Pattern recognition
Cloning, Inspiring, Adapting
Social networks
Past Experience
Innovation
Coincidence/Accident
Problem/need observation
Blue ocean strategy
Creative thinking
Customer development

15. Innovation is bringing new solutions to unsolved problems.

16. WILLINGNES to SEE and SOLVE PROBLEMS

17. Problems w/h electrc cars:
Let’s Try
Problems w/h electrc cars:
Expensive Battery (10.000$)
Short Range (150 KM)
Takes too Long to Charge (5-6 Hours)

18. No Problem No Innovation

19. Easy Methods for Discovering
Observing
Feeding
Recording
Cataloguing
Reviewing
Using problem lists

23. CUSTOMER INSIGHT

24. For the Next Week (Edition 9)
Reading: Timmons and Spinelli, Chapters 4 and 7
Discussion-1: In what ways does looking through sustainability lens change how an entrepreneur approaches a new venture opportunity?
Discussion-2: How has the communications revolution become a major driver of entrepreneurial thinking and opportunities in sustainable, green business models?
Discussion-3: What is an example of a wicked problem facing humanity, and what types of opportunities might arise for social entrepreneurship in that space?
Case: Northwest Community Ventures Fund (Page 233)