1. Ideas vs Opportunities

2. What We Have Been Doing We learned how to problem solve
Paper Airplanes
Coloured Thinking Hats
We learned a variety of ways to brainstorm
SCAMPER
Visualization
Word Clustering
Mind Maps
You came up with an idea for your business

3. Up Next Deciphering between ideas and opportunities
What comes first?
Deciphering between trends & fads
Evaluating Your Ideas
Market Research
Getting others to give feedback on your business idea

4. Ideas vs. Opportunities
What came first? The chicken or the egg?

5. What came first? The Idea or The Opportunity

6. Ideas vs Opportunities
Both are vital to the creation of a successful business
The idea needs to be unique & creative
Differentiation – distinguishing the product/service from what is already being offered in the market place
....On the other hand, you need
customers to buy your product

7. Ideas vs Opportunities
Opportunities are driven by customer needs
Many entrepreneurs have the AH-HA! Moment
Life would be easier if there was a way to......
I bet if I could find a way to.....
This is why the best entrepreneurs have a prior knowledge/skill set/passion for their area
They directly see the need
.....On the other hand you need to have an idea to take advantage of the opportunity

8. Ideas vs Opportunities
Market-Pulled Entrepreneurship
The entrepreneur will identify a problem first
See the opportunity and then come up with the idea
The Fox 40 Whistle
Product-Driven or Service-Driven Entrepreneurship
Coming up with the idea first
then finding the market that benefits from the idea the most
People may not even know they have a problem....
Mp3 players

9. Entrepreneur Opportunity Idea
Harold Warner
People like to have fun
Companies need to advertise
Ballooning with ads
Martha Sturdy
People like to wear jewellery
Some people like to be distinctive
“Wearable Art”
Peter Dalglish
- There are street kids in the world who need help
“Street Kids Int’l”
- A bicycle courier service

10. Technology
Technology proposes opportunities for inventors/entrepreneurs
Because of the internet – ebay was possible
Technology also provides people with a way to adapt it for new ideas
Well what if I could make the ipod smaller?

11. Technology 1900’s 1950’s 1990’s 2000’s 2025? Corsets Girdles
Panty Hose
Slim-n-fit ?
Stereoscopes – people could see in 3D
Black and White TV
Colour TV, Picture in a Picture
LCD, LED, Plasma, 3-D
Wax Cylinder records for Gramophones
Vinyl Records
Cassettes, CDS
MP3
Wood Stoves
Electric and Gas Stoves
Microwaves
Invention is lacking!
Gas Lamps
Electric Lights
Halologen High Intensity Lights
Fibre-Optic Lights

12. Trends That Give Rise to Opportunity
Increases in population
Society cultural make-up – multicultural?
Aging population
Increasing concern about health issues & leisure activities
Family unit make-up
Learning trends – lifelong need
Changes in electronic communication
The $100 computer is nearing completion

13. Connecting Ideas and Opportunities
The toughest part of being an entrepreneur
If the idea comes up first
Need to evaluate the needs or wants that can be satisfied
If the opportunity comes first
Find a unique way to satisfy those needs

14. Today’s Activity
Identify if it is market-pulled, or product/service driven
If you have received an idea – find an opportunity (market) that would be beneficial
If you received an opportunity – think of an idea that could take advantage of the situation

15. Lay-Z-Boy

16. Hockey

17. iPad Mini

18. Garbage Bags

19. Flip Flops

20. Leaf Blower

21. Slap Chop

22. Accounting

23. PVR

24. Nintendo

25. Shower Cleaner

26. Hungry Man

27. Underground Dog Fence

28. Loft Bed

29. Hair Brush

30. Laptop

31. Segway

32. Fashion Shows

33. Portable Dumpster

34. Chess at the Mall