Enterprise

Lecture 2 - 04.10.10

Ideas and Opportunities

The right time/opportunity -

-making of the concorde because there was a DEMAND.

-computers in commercial use 1950's

-silicon chip 1961

-internet invented 1969

-fibre optic cables 1970

All made at the right time as there was a demand for them. The public was in need of those things.

P.E.S.T - Political Economical Social Technological

Are you aware of change?

Do you have an informed opinion on it?

Be interested in your market.

Look at: Trade laws, Tax breaks, Human rights, Legislation.

Aware of new technology?

Look at: Work life balance, Ageism, Debt recovery..

How do all these things affect what you are doing? Or how could you benefit the people involved in these things?

You NEED to be informed & know what you are talking about.

What kind of creative are you?

Evolutionary Revolutionary

Manager Opportunist

Cautious Risk Taker

Are you a...?

Owner Worker - someone who works alone, creates one of pieces, such as an artist or craftsman

Owner Manager - someone who works in a group, all have different things they do within the group and all work together to make something work.

Owner Entrepeneur - such as an interior designer. You come up with the idea and the vision and you bring people in such as builders, plumbers etc to do the work that you want.

Where do opportunities come from?

-Trends

-Technical Development

- Political Change

- Economic Boom/Slump

- Human Need

- Problems

- Research

Answer the problems people have and what they want from you.

Technical Push - idea pushed forward by new technology.

Market Pull - idea asked for by the public - a demand for the product.

Make useful contacts.

Project Manager skills:

1. define the problem

2. build confidence

3. problem solving

4. risk analysis

5. physical resources

6. planning

7. human resources

8. quality control

ALWAYS COMMUNICATE.

- Skills - technical processes

-Aptitudes - team working? entrepenuers don't do it alone.

- Predisposition - what capabilities do you have? what do you like to do? how do you want to work?

Asses your competitors

- how many are there?

- how well are they doing?

- what do they do well?

- what could you improve on?

getsetforbusiness.com

Always look at DEMAND.

-where is it?

- what is it?

- who is your target market?

How do you affect:

You - your lifestyle.

Customer - how will it benefit them? what will they get from you.

Planet

Stakeholders