Knowing the Difference between an Idea and an Opportunity
Learn how to recognise the difference between an idea and an opportunity.
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Building a successful business demands lots of qualities in an entrepreneur. Examples are the skill to see and recognise where improvements can be made, and knowing when help is needed to look after certain aspects of a business.
In this course, Tom Byers, a professor at Stanford University, sets out to distinguish between good and not so good entrepreneurs based on the decisions or principles they adhered to during the initial growth phase of their start-up companies. In particular, he reviews the importance of being able to distinguish between an idea and an opportunity. Entrepreneurs generate many ideas but only some become real opportunities for their business. He discusses how a business can get into a good marketing position and get over the chasm from being a small company to a worldwide phenomenon. He also explains how success is often a partnership between ideas and opportunities which work together to bring the final product to fruition.
This course will be of great interest to entrepreneurs looking for some guidance on building their own start-up business and to all business professionals who would like a new look at important factors which are not always considered when running a successful business.
Module 1: Knowing the Difference between an Idea and an Opportunity
Difference Between an Idea and an Opportunity
Why do Ventures Require Dynamic Leaders?
Role of Context in High-Tech Venturing
Market Positioning and the Importance of Partnerships
Purpose of a Business Plan
Importance of Cash Flow
What are the Essentials of the Venture Finance Process?
Characteristics of Entrepreneurs
Role of Ethics in High-Tech Entrepreneurship
Module 2: Difference between an Idea and an Opportunity Assessment
Learning outcomes: - Understanding of considerations of building a company; - Examine what traits are needed to be a successful entrepreneur; - What a marketing model can achieve in the case of a start-up company.
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