1. U2 Chapter 5 Invention, Innovation and the Creative Edge BDI 3C1 Entrepreneurship

2. Ideas and the Creative Edge Every venture starts with an idea – but where does that idea come from? Entrepreneurs and Enterprising people are always on alert Good ideas come in many forms, but the ones that turn into ventures have two common features:

3. Common Features of Ventures 1.They are innovative – often offering something that no one has thought of before, or that has never been made to work before 2.They suggest a way to satisfy a need

4. What are some venture ideas GOODBADWACKY

5. Where would you look for ideas? TV, radio, society? Newspapers – contain info about local and global business trends, – classified sections for local needs and wants – Business opportunities ads – Business service ads

6. Magazines Consumer magazines predict and report changes in consumer buying Trade magazines describe trends in specific industries and report on new products and services Specialty magazines offer advertisements and articles about goods and services that appeal to their target markets

7. Trade Shows Manufacturers and distributers display their newest products and services for others in similar businesses or for potential customers. – Sometimes these shows are open to the public – See CES 2015 Las Vegas http://www.mirror.co.uk/news/technology-science/technology/ces-2015-recap- news-updates-4923037 http://www.mirror.co.uk/news/technology-science/technology/ces-2015-recap- news-updates-4923037 http://www.cesweb.org/ At craft and hobby shows, individuals and small businesses can sell products or services to interested customers, often at low prices chosen to attract new customers – http://www.oneofakindshow.com/xmas14/index.php http://www.oneofakindshow.com/xmas14/index.php