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"Let him that would move the world, first move himself” Socrates Ian Hardcastle - Zhang Guo – Daniel Caballeros – Nicole Camacho – Kimberly Cafarelli
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Good Opportunities address important market needs. Any Big Problem is a Big Opportunity: No Problem, no solution, no company. Find a “Long wave”, immutable trend that will last. Important to match capabilities and interests Mobilize Resources
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Innovations in Energy Information Technology Bio-Engineering
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Not all risk can be removable Entrepreneurs are people that are willing to take risk Focus on managing risk instead of taking risk Two types of risk in a new venture: The risk of the uncertainty surrounding the business The Market Risk Operational Model Risk Financial Model Risk The risk of what is at stake if the business fail Opportunity Risk Financial Risk Avoid “Paralysis by Analysis”
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A. EXTERNAL RISK B. INTERNAL RISK The Market risk A large enough market to support the business Whether the market is growing What trend exist in the industry How competition is structure Distribution of products/services Operational Model Risk A business’s internal operation to deliver goods and services to customers effectively Financial Model Risk The “number” issue that determines if a business can work or not Opportunity Risk A risk that comes if the business fails and it allows you to do something else with your time and money Financial Risk The tangible value that you and the investor lose if the business fails
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Strategic Planning Rely on subjective assumptions & qualitative marketing research Interview potential clients & relevant business partners Information to be collected in order to decrease level of “uncertainty” Macro environment Competitive trends Consumer behavior trend Partial SWOT
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Business Model Mission statement Target audiences Branding Develop a logo or company name Business Website or Webpage “About us” section highlighting the business’s mission statement Keywords for search optimization Communication Send emails or letters to clients, influential third-parties, or customers Public Relations Social Media Strategy
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Growth is one of the most essential elements to make your new venture successful.
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Organization Life Cycle Model Churchill & Lewis’ Growth Model
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Introduced in 1972 As new ventures grow they are faced with different opportunities, threats and changes Each stage must go through a “crisis” in order to move to the next stage of growth.
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Lacks important elements that are needed for a business to grow such as: Networking and making relationships with clients and other vendors Securing finances of the company Keeping up with new technologies Does not take into consideration the size of the business; one dimensional
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Revised version of Greiner’s model. Introduced in the early 1980’s Published in the Harvard Business Review in 1983 Covers more specifics and detail than Greiner’s model, especially relating to management.
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Each stage breaks down into different management factors: Managerial style Organizational structure Extent of formal systems Major strategic goals Owner’s involvement
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http://www.growthmanagementconsulting.com/liability.html http://www.growthmanagementconsulting.com/liability.html http://www.tameer.org.pk/images/The_Five_Stages_Of_Small_Business_Growth.pdf http://www.tameer.org.pk/images/The_Five_Stages_Of_Small_Business_Growth.pdf http://managingnewventures.wikispaces.com/file/view/TMT+Change.pdf/301312676/TMT %20Change.pdf http://managingnewventures.wikispaces.com/file/view/TMT+Change.pdf/301312676/TMT %20Change.pdf http://www.inc.com/encyclopedia/organizational-life-cycle.html http://www.inc.com/encyclopedia/organizational-life-cycle.html http://www.getbusymedia.com/small-business-stats/ http://www.getbusymedia.com/small-business-stats/
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