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Published byWhitney Craig Modified over 9 years ago
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Entrepreneurial opportunities Attractive, timely, durable, provide value
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Defined Situations in which new goods, services, raw materials, and organizing methods can be introduced and sold at a price that is greater than their cost of production (Casson, 1982) An opportunity that is attractive, durable, timely, and grounded in a product or service that delivers value to a customer (Armstrong)
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Run a prison! Timely? Durable? Attractive? Grounded in a product or service that delivers value to a customer?
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Pet rocks! Timely? Durable? Attractive? Grounded in a product or service that delivers value to a customer?
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Type writer repair! Timely? Durable? Attractive? Grounded in a product or service that delivers value to a customer?
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“Handheld electronic device” Timely? Durable? Attractive? Grounded in a product or service that delivers value to a customer? Apple Newton Message Pad, 1993-1998
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Apple Newton’s Message Pad
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Newton MessagePad Newton MessagePad, a tablet-PDA hybrid with handwriting recognition. There was nothing else like it, but its ungainly size,, and hard-to-read screen relegated it to technology-cult status.technology-cult status But its innovations lived on, with its handwriting recognition still used in the Mac OS X's Ink control panel that appears when a pen tablet is connected and that helped form the gesture technology used in the iPhone. The Newton also inspired 1996's Palm Pilot, which used many of the Newton's ideas in a size that made it easy to carry around.
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Takeaways You must meet all criteria (attractive, timely, durable, provides value) to ensure quality of opportunity Experiment, prototype, and protect intellectual property (see Apple Newton example) Prepare for imitators – what is unique about your offering?
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