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New Venture Opportunity. "Let him that would move the world, first move himself” Socrates. Ian Hardcastle - Zhang Guo – Daniel Caballeros – Nicole Camacho – Kimberly Cafarelli. Recognizing Opportunity: The Key factors that turn a novel Idea into a booming business.

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new venture opportunity

New Venture Opportunity

"Let him that would move the world, first move himself”

Socrates

Ian Hardcastle- Zhang Guo – Daniel Caballeros – Nicole Camacho – Kimberly Cafarelli

recognizing opportunity the key factors that turn a novel idea into a booming business
Recognizing Opportunity: The Key factors that turn a novel Idea into a booming business
  • Good Opportunities address important market needs.
  • Any Big Problem is a Big Opportunity: No Problem, no solution, no company.
  • Find a “Long wave”, immutable trend that will last .
  • Important to match capabilities and interests
  • Mobilize Resources
emerging markets
Emerging Markets
  • Innovations in Energy
  • Information Technology
  • Bio-Engineering
new venture risk
New Venture Risk
  • Not all risk can be removable
  • Entrepreneurs are people that are willing to take risk
  • Focus on managing risk instead of taking risk
  • Two types of risk in a new venture:
    • The risk of the uncertainty surrounding the business
      • The Market Risk
      • Operational Model Risk
      • Financial Model Risk
    • The risk of what is at stake if the business fail
      • Opportunity Risk
      • Financial Risk
two types of risk
Two Types of Risk
  • External Risk
    • The risk surrounding the business
  • Internal Risk
    • The risk inside the business
external risk
External Risk
  • The Market risk
    • A large enough market to support the business
    • Whether the market is growing
    • What trend exist in the industry
    • How competition is structure
    • Distribution of products/services
  • Operational Model Risk
    • A business’s internal operation to deliver goods and services to customers effectively
  • Financial Model Risk
    • The “number” issue that determines if a business can work or not
internal risk
Internal Risk
  • Opportunity Risk
    • A risk that comes if the business fails and it allows you to do something else with your time and money
  • Financial Risk
    • The tangible value that you and the investor lose if the business fails
marketing a new venture
Marketing a New Venture
  • Strategic Planning
  • Rely on subjective assumptions & qualitative marketing research
    • Interview potential clients & relevant business partners
  • Information to be collected in order to decrease level of “uncertainty”
    • Macro environment
    • Competitive trends
    • Consumer behavior trend
    • Partial SWOT
marketing to do s
Marketing To-Do’s
  • Business Model
  • Branding
  • Business Website or Webpage
  • Communication
  • Public Relations
business model
Business Model
  • Mission statement
  • Target audiences
branding
Branding
  • Develop a logo or company name
business websites
Business Websites
  • “About us” section highlighting the business’s mission statement
  • Keywords for search optimization
communication
Communication
  • Send emails or letters to clients, influential third-parties, or customers
public relations
Public Relations
  • Social Media Strategy
managing a ventures growth
Managing a Ventures Growth
  • Growth is one of the most essential elements to make your new venture successful.
two popular business growth models
Two Popular Business Growth Models:
  • Organization Life Cycle Model
  • Churchill & Lewis’ Growth Model
l greiner s business model
L. Greiner’s Business Model
  • Introduced in 1972
  • As new ventures grow they are faced with different opportunities, threats and changes
  • Each stage must go through a “crisis” in order to move to the next stage of growth.
flaws in the greiner curve
Flaws in the Greiner Curve
  • Lacks important elements that are needed for a business to grow such as:
    • Networking and making relationships with clients and other vendors
    • Securing finances of the company
    • Keeping up with new technologies
    • Does not take into consideration the size of the business; one dimensional
churchill lewis business growth model
Churchill & Lewis’ Business Growth Model
  • Revised version of Greiner’s model.
  • Introduced in the early 1980’s
  • Published in the Harvard Business Review in 1983
  • Covers more specifics and detail than Greiner’s model, especially relating to management.
churchill lewis business growth model1
Churchill & Lewis’ Business Growth Model
  • Each stage breaks down into different management factors:
    • Managerial style
    • Organizational structure
    • Extent of formal systems
    • Major strategic goals
    • Owner’s involvement
sources
Sources
  • http://www.growthmanagementconsulting.com/liability.html
  • http://www.tameer.org.pk/images/The_Five_Stages_Of_Small_Business_Growth.pdf
  • http://managingnewventures.wikispaces.com/file/view/TMT+Change.pdf/301312676/TMT%20Change.pdf
  • http://www.inc.com/encyclopedia/organizational-life-cycle.html
  • http://www.getbusymedia.com/small-business-stats/