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Opportunity Identification Talk @ Eureka Tech Academy Event (2015-11-19)

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These are the slides that I used for the opportunity identification (discovery, recognition, creation) talk at the Eureka Tech Academy event on November 19, 2015 at the Prince Sumaya University of Technology (PSUT). The talk was translated into Arabic for the audience, as I spoke in English (except to say hello, and ask one question :-).

The Eureka Tech Academy event was part of the Global Entrepreneurship Week activities happening in Jordan.

Note: I didn't go through all the slides during the talk, and just hit several main points, due to a time limit. So having the slides posted here allows people to see the entire slides for the talk.

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Opportunity Identification Talk @ Eureka Tech Academy Event (2015-11-19)

  1. 1. Amman, Jordan | November 2015 John Mueller Opportunity Identification [ or discovery, or recognition, or creation ]
  2. 2. Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled Howard Stevenson (1993), Harvard Professor “ “
  3. 3. Idea Generation Evaluation * Exploitation (or exploration or execution) * Keep evaluation separate from idea generation Entrepreneurship Adaptation from Shane & Venkataraman (2000) & Altman (2014) …it is a process full of multiple actions… Startup Building the BusinessModification / Pivot Opportunity Identification (discovery, recognition, or creation) Idea Product / Service Team Execution
  4. 4. Idea Generation Evaluation * Exploitation (or exploration or execution) Entrepreneurship …it is a process full of multiple actions… Startup Building the BusinessModification / Pivot Opportunity Identification (discovery, recognition, or creation) * Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014) Idea Product / Service Team Execution
  5. 5. Business Opportunity Idea Entrepreneurship
  6. 6. 11 Rainy Day Cigarette Holder (1954) –  Is this an opportunity?
  7. 7. Idea Generation Evaluation * Exploitation (or exploration or execution) Entrepreneurship …it is a process full of multiple actions… Startup Building the BusinessModification / Pivot Opportunity Identification (discovery, recognition, or creation) * Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014) Idea Product / Service Team Execution
  8. 8. Idea Generation Will provide a general sample of how to generate ideas How does an individual(s) come up with an idea that can possibly turn into a business opportunity?
  9. 9. Observe / be aware / be alert / be curious
  10. 10. Positive Attitude & Open-mindedness –  Hiring at Zappos (CEO: Tom Hseih) –  Question they ask in an interview: –  Study: •  Asked them if they were lucky •  Then had them read a newspaper and count how many photos •  Some headlines said: “There are 37 photos, stop now and collect $100” •  Conclusion: Lucky people tend to be open to a wider realm of options and solutions – thus can work with more people and come up with more creative ideas (“be creative and a little weird” – from Zappos culture definition) Do you consider yourself lucky?
  11. 11. Positive Attitude & Open-mindedness –  Believe it can be done –  Get in the habit of thinking up ideas –  Keep an idea journal –  Look for better ways to do things –  See problems as opportunities –  Relax, daydream –  Think young –  Be curious –  Inspire yourself “Problems don’t get solved by the smartest or the fastest or the strongest; they get solved by the one who sees the possibilities.” – Dan Roam
  12. 12. 17 Introduction Look for Problems (see them as opportunities)
  13. 13. Introduction Look for Problems (see them as opportunities)
  14. 14. Look for Problems (see them as opportunities)
  15. 15. Look for Patterns / Changes
  16. 16. Prior Knowledge (and interests)
  17. 17. Connected, engaged with the environment
  18. 18. Connected, engaged with the environment
  19. 19. Connected, engaged with the environment
  20. 20. Effectuation (vs. Causation) Sfeehas.com
  21. 21. Idea Generation (sample – 7 only) 1.  Observe / be aware / be alert / be curious 2.  Positive attitude and openmindedness 3.  Look for problems (see them as opportunities) 4.  Look for patterns / changes 5.  Use your prior knowledge and interests 6.  Connect / engage with the environment 7.  Effectuation (vs. causation) 26
  22. 22. Idea Generation Evaluation * Exploitation (or exploration or execution) Entrepreneurship …it is a process full of multiple actions… Startup Building the BusinessModification / Pivot Opportunity Identification (discovery, recognition, or creation) * Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014) Idea Product / Service Team Execution
  23. 23. Action: Evaluation – Startup [ Books ]
  24. 24. Action: Evaluation – Startup [ Books ]
  25. 25. Idea Generation Evaluation * Exploitation (or exploration or execution) Entrepreneurship …it is a process full of multiple actions… Startup Building the BusinessModification / Pivot Opportunity Identification (discovery, recognition, or creation) * Keep evaluation separate from idea generation Adaptation from Shane & Venkataraman (2000) & Altman (2014) Idea Product / Service Team Execution
  26. 26. 31 Have Fun and Learn (Be Curious / Be Creative to Create)
  27. 27. Contact Info John Mueller E: john.mueller@wmich.edu E: jmueller@golfsolutions.com Twitter: @golfmomo Facebook: facebook.com/golfmomo

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