ENTREPRENEURIAL IDEAS GENERATED

ENTREPRENEURIAL IDEAS GENERATED (& Regrouped)
Instructions for selecting your favorite entrepreneurial opportunities:

  1. Complete your inventory of personal skills, interests, and passions across the 8 listed in
    Aulet (see below**)
  2. Identify a shortlist of opportunities (minimum of 3 total) across all the potential ones
    generated (reorganized and listed, below) that also align with one or more of your
    personal inventory items in #1
  3. Identify your top three (3) choices for an entrepreneurial project you’d like to pursue
    among the items within your shortlist in B, rank-ordered from most to least preferred,
    for example: Choice #1: C (Virtual Meeting Network); Choice #2: …
  4. Extra (we’ll return to it in class): Opportunity check (i.e., is this a genuine opportunity?)
    – make sure that your choice:
    a. Has a specific group / constituency you can identify with a Willingness to Pay
    b. Matches one or more of the ten value-based / perceptual shifts you all identified
    in class (or aligns with a new one of your own, if not on that list)
  5. Post your responses to the Canvas discussion as, so we can all see what natural
    groupings are forming for entrepreneurial teams
    c. Post as your response to item #3 to the discussion
    d. Attach word doc or PDF with your responses to #1 through 3 (or 4)

**What are your interests, strengths and skills (Aulet, p.19)? (Technical, personal and business fit) – list
one or more under each:

  1. Knowledge
  2. Capability
  3. Connections
  4. Financial assets
  5. Name recognitions
  6. Past work experience
  7. Passion for a particular market
  8. Commitment (time to make it your only focus)
    How does that value align with one of the value shifts (Drucker) we identified last week?

Opportunities (letters) and potential paint points (bullets) – grouped by INDUSTRY
ONLINE / VIRTUAL ENVIRONMENTS
A. Edutech (online schooling / learning platforms)–wasn’t seen as something to be used
for younger children until recently; (unexpected, process) boom in Zoom market;
(market) increasing cap on 45 minute meetings for student accounts
• Not created for educational purposes, so less of a rich experience
• Parents having to learn different systems for each child
• A lot of screen time for kids
• Cost for public schools
• Lack of ‘live’ interaction to the ability to interact with your classmates in an
online setting; before, it was just video recording
B. Online gaming communities–changing demographics (younger, more girls)
• A lot of screen time
• Cross-platform functionality
C. SaaS–Office 365 (no more ‘ownership’ – portability, convenience)
• Pain point 1…
• Pain point 2…
LIFE / HEALTH
D. Elder care–demographic shift of more people retiring
• Pain point of finding balance between affordability and quality of care
• Customer is the child not just the parent
E. 5G (new knowledge): more security for medical industry and other sensitive industries
• Pain point 1…
• Pain point 2…
F. Work From Home: (demographics) people are moving out of the big cities to suburbs
• Pain point 1…
• Pain point 2…
G. Perception shift in Big City living
• People no longer feel safe or that it is necessary
HIGH-TECH / RETAIL
H. Smartphone: perception and price shifts vs. functionality—iPhone (or vice-versa?
• Pain point 1…
• Pain point 2…
I. Ecommerce–changing retail industry specifically
• Having to deal with returns
• Items may not fit–no changing room opportunity–like Adidas
• Difficult to know quality
J. Amazon (incongruity): Creating a logistical network instead of using an existing one,
they saved money by investing lots of money in a new channel
• Pain point 1…
• Pain point 2…

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