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Entrepreneurial opportunities

Entrepreneurial opportunities. Attractive, timely, durable, provide value. 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)

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Entrepreneurial opportunities

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  1. Entrepreneurial opportunities Attractive, timely, durable, provide value

  2. 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)

  3. Run a prison! • Timely? • Durable? • Attractive? • Grounded in a product or service that delivers value to a customer?

  4. Pet rocks! • Timely? • Durable? • Attractive? • Grounded in a product or service that delivers value to a customer?

  5. Type writer repair! • Timely? • Durable? • Attractive? • Grounded in a product or service that delivers value to a customer?

  6. “Handheld electronic device” • Timely? • Durable? • Attractive? • Grounded in a product or service that delivers value to a customer? Apple Newton Message Pad, 1993-1998

  7. Apple Newton’s Message Pad

  8. 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. • 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.

  9. 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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