1. Theories of Entrepreneurship
30 under 30 presentation - Relate (3) theories of successful entrepreneurship to the inventor or invention.

2. Schumpeter’s Sources of Opportunity
Use a new technology to produce a new product.
Use an existing technology to produce a new product.
Use an existing technology to produce an old product in a new way.
Find a new source of resources to produce more efficiently.
Develop a new market for an existing product.
Schumpeter’s Sources of Opportunity

3. Entrepreneurial Options
Traditional for-profit enterprise
Social entrepreneurship—for-profit enterprise with dual goals of profitability and social returns
Venture philanthropy
Green entrepreneurship
Not-for-profit organization
Entrepreneurial Options

4. Timmons’ Business Opportunity = Idea + Four Characteristics
Attractive to customers
Will work in the business environment
Can be executed in an existing window of opportunity
Available resources and skills needed to create the business
Timmons’ Business Opportunity = Idea + Four Characteristics

5. Use SWOT Analysis to Evaluate Business Ideas
Strengths - internal
Weaknesses - internal
Opportunities - external
Threats - external

6. Five Roots of Opportunity
Problems – your business can solve
Changes – in laws, situations or trends
Inventions – of new products or services
Competitive advantage – in price, location, quality, reputation
Technological advances – that entrepreneurs can take from the laboratory to the marketplace
The best business opportunities often combine both internal and external factors.

7. Components of Porter’s Generic Strategies
Product uniqueness—ability to differentiate the product/service from those of the market’s competitors
Low cost—ability to reduce costs and sustain a price advantage
Focus—targeting a particular market segment or group “niche”