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Global Opportunities

ESSAM 2010. Global Opportunities. Professor Stephen Lawrence Leeds School of Business University of Colorado. Agenda. Where do good ideas come from? Is there a difference between an idea and an opportunity?j How can we identify opportunities? How can we screen potential opportunities?.

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Global Opportunities

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  1. ESSAM 2010 Global Opportunities Professor Stephen Lawrence Leeds School of Business University of Colorado

  2. Agenda • Where do good ideas come from? • Is there a difference between an idea and an opportunity?j • How can we identify opportunities? • How can we screen potential opportunities?

  3. Sources of Ideas Where do good ideas for new products & companies come from?

  4. How Are Ideas are Generated? Textbook Version Reality

  5. Sources of Ideas • Follow your Passion! • Read extensively • Business publications • Trade & industry journals • Technology magazines (Tech Review) • Network • Talk with everyone and anyone • Talk with potential customers! • Flash of insight!

  6. CAN OCCUR TO ANYONE! Good Ideas …

  7. COME FROM PERSONAL EXPERIENCE! Good Ideas ...

  8. CREATE EXCITEMENT! Good Ideas ...

  9. Ideas versus Opportunities Are all good ideas good business opportunities?

  10. My Business Idea ($$) ?

  11. Ideas Are Overrated 0 • Build a better mouse trap • Most ideas already considered • There is little new under the sun • Process of refinement is essential

  12. Attractive Durable Timely Adds value Open window Entry is feasible Customer will pay Management team Competitive advantage Economics Rewarding Forgiving Growth When Is an Idea an Opportunity? Timmons, New Venture Creation

  13. Identifying Opportunities How can we identify opportunities? What criteria should we use?

  14. S-Curve Progression Performance, Adoption OpportunitySweet Spot Effort (time, funds) Performance and Adoption often follow an S-Curve Foster, Innovation: The Attackers Advantage, Summit Books, 1986

  15. Successive Innovations DisruptiveInnovation Performance Attacker’sAdvantage DisruptiveGap Effort (time, funds) Foster, Innovation: The Attackers Advantage, Summit Books, 1986

  16. Vitamins vs. Pain Killers

  17. Identify Customer PAIN! • It’s easier to sell pain-killers than vitamins • If you want to stir someone to action, • Tell them that somebody is robbing them of $20 • Don’t tell them that they have an opportunity to earn (save) $20

  18. Identify Pain Provide Relief

  19. Introduced Dec-2001 $4,450 each Forecast for 2002 10,000/week Reality for 2002 ~10/week Some special apps Remains a curiosity Segway Human Transporter http://www.crossingwallstreet.com/archives/segway.jpg

  20. Segway-Based Wheelchair http://www.independencenow.com/ibot/index.html

  21. Global Opportunities

  22. Global Opportunities • What is a “global” product (or service)? • How do global products differ from “domestic” products?

  23. Global Products • Satisfy a need (relieve pain) across cultural/political/economic boundaries • Satisfy either of the following: • Meet a global expectation or standard • Are malleable and “easily” modified to meet cultural/political/economic differences • Examples of global products • Examples of domestic/local products

  24. Global Opportunities Assignment

  25. AssignmentGlobal Opportunities • Meet with your team • Develop 3 ideas for “born global” products and/or services • Assess the commercial viability of each • Customer pain points • Global prospects • Economically attractive • Select the most attractive of the 3 • Report back your ideas to the class

  26. Teams

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