1. Global Opportunities Professor Stephen Lawrence Leeds School of Business University of Colorado ESSAM 2011

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. Good Ideas … CAN OCCUR TO ANYONE!

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

8. Good Ideas... CREATE EXCITEMENT!

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

10. My Business Idea ($$) ?

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

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

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

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

15. Performance Effort (time, funds) Successive Innovations Foster, Innovation: The Attackers Advantage, Summit Books, 1986 Disruptive Gap Attacker’s Advantage Disruptive Innovation

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

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

21. Global Opportunities

22. 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: 1. Meet a global expectation or standard 2. Are malleable and “easily” modified to meet cultural/political/economic differences Examples of global products  Examples of domestic/local products

24. Canadian Solar case How and where has Canadian Solar prospered in international markets with its solar PV products? How are these markets changing? How is the competitive landscape changing? What is Canadian Solar’s competitive advantage in international markets? What is Canadian Solar’s response to these new challenges? What is its new strategy? Is this the right strategy, in your opinion? How should Canadian Solar proceed?

25. Global Opportunities Assignment

26. Assignment Global 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

27. Teams