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Professor Edward Lee Lamoureux, Ph.D. Bradley University

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1 CFA 201: The Entrepreneurial Mindset in Communications and Fine Arts, Online
Professor Edward Lee Lamoureux, Ph.D. Bradley University College of Communications and Fine Arts CLASS ELEVEN

2 Analyzing Opportunities
Entrepreneurial Enterprise #1 Organization Contexts Opportunities #2 & 3 The Entrepreneur #4 & 5 The Concepts Resources Find (2) Evaluate (3) Types of Ventures (11) Life cycles/stages (12) Types of Entrepreneurs (4) Type(s) of investments they make (5) Types and strategies (9) Prioritizing sources (10) Types of Innovation (6) Competitive Entry Wedge (7) Economic models (8)

3 #2: Find Opportunities Types Methods Sources Detractors

4 #2: Find Opportunities Types of Opportunities
Perennial (almost always there) Occasional

5 #2: Find Opportunities Methods of Finding Opportunities
Deliberate Search Discovery/Creation The Market “Pulls” at you Technology “Pushes” the opportunity

6 #2: Find Opportunities Sources for Opportunities
Rule Changes Demographic Changes Underserved Markets Social Trends New Customers to Market to Increase in Usage Rates Shortages New Knowledge

7 #2: Find Opportunities Detractors
No real need No real opportunity (closed window) Strong loyalties to prior player High switching costs Satisfied customers Easy to enter after you Intense competition Hard to reach customers

8 #3: Evaluate Opportunities
Entrepreneurial Enterprise #1 Organization Contexts Opportunities #2 & 3 The Entrepreneur #4 & 5 The Concepts Resources Find (2) Evaluate (3) Types of Ventures (11) Life cycles/stages (12) Types of Entrepreneurs (4) Type(s) of investments they make (5) Types and strategies (9) Prioritizing sources (10) Types of Innovation (6) Competitive Entry Wedge (7) Economic models (8) #3: Evaluate Opportunities

9 #3: Evaluate Opportunities Market Issues
Need Customers Added Value Product Life Market Size Industry Structure Stronger Opportunity Identified Reachable/Receptive High Long Known & Large Disorganized or emergent Weaker Opportunity Unclear Not Low Short Unknown & Small Aggressive & stable

10 #3: Evaluate Opportunities

11 #3: Evaluate Opportunities
First screen: Paper 4, Due November 20 BEST: DATA DRIVEN

12 Really Big Value Sketch Pad
Due as part of assignment 5: Nov. 28 Really Big Value Critique Pad Due as part of paper 5: Dec. 7 Pick up printed version from Jolene Cole, GCC 300 Both are .pdfs in Sakai Resources. Use printed posters to work up ideas; transfer finished material to electronic version for submission. “Save as” the pdf —Make a new copy for you; put your name in the file name. Each has 5 “direction” steps and numerous target questions. Use the “Tools” section, top right Insert text boxes and type right on them (instead of sticky note attachments)

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15 CFA 201: The Entrepreneurial Mindset in Communications and Fine Arts, Online
Professor Edward Lee Lamoureux, Ph.D. Bradley University College of Communications and Fine Arts CLASS ELEVEN


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