1. BUSINESS OPPORTUNITIES
Entrepreneurship
4/21/2017
BUSINESS OPPORTUNITIES
Recognizing Opportunities
Chapter 2

2. UNDERSTANDING ENTREPRENEURIAL TRENDS
Understand current trends that provide opportunity for entrepreneurs.
Explain ways to recognize opportunity.
Think creatively about business opportunities.
Discuss ways to overcome challenges.
GOALS
Glencoe Page 44

3. ENTREPRENEURIAL TRENDS
Entrepreneurship
4/21/2017
ENTREPRENEURIAL TRENDS
Internet Businesses
Service Businesses
Home-Based Businesses
More info
Glencoe Page 47
Chapter 2

4. ENTREPRENEURIAL TRENDS
Entrepreneurship
4/21/2017
ENTREPRENEURIAL TRENDS
Socially Responsible Nonprofit Businesses
Focus on Technology
Outsourcing
Strategic Alliances
Corporate Ventures
Glencoe Pages
Chapter 2

5. RECOGNIZING OPPORTUNITY
Entrepreneurship
4/21/2017
RECOGNIZING OPPORTUNITY
Creativity and Innovation
Innovation is finding new ways of doing things.
Idea versus Opportunity
Niche – a small specialize market.
Finding Opportunities by Understanding Industries
Glencoe Page 50
Chapter 2

6. THINKING CREATIVELY ABOUT OPPORTUNITY
Entrepreneurship
4/21/2017
THINKING CREATIVELY ABOUT OPPORTUNITY
Practice brainstorming
Thinking freely to generate ideas
Look at ordinary items in new ways.
Find creative solutions to common problems
Connect unrelated items.
Glencoe Page 51
Chapter 2

7. CHALLENGES TO CREATIVITY
Entrepreneurship
4/21/2017
CHALLENGES TO CREATIVITY
Believe in yourself. Positive self-encouragement works.
Use nonlogical thinking. Not everything has to make sense right away.
Free your mind! Don’t think of everything in practice terms.
View problems as challenges hat offer the opportunity to innovate.
Entertain all ideas. There is no such thing as a frivolous idea.
Glencoe Page 51
Chapter 2

8. CHALLENGES TO CREATIVITY
Entrepreneurship
4/21/2017
CHALLENGES TO CREATIVITY
Relax! Relaxation is a key part of the creative process.
Have a playful attitude. Don’t worry about looking foolish.
First Follower: Leadership Lessons from the Dancing Guy
Look at failure as a learning experience that will lead to success.
Model creative behavior. Anyone can learn to think creatively.
Develop listening skills. You can learn a lot by listening to other people talk about their wants and needs.
Glencoe Page 51
Chapter 2

9. CREATIVE SOURCES OF IDEAS
Entrepreneurship
4/21/2017
CREATIVE SOURCES OF IDEAS
Observe the world around you.
Watch for demographic changes.
Personal characteristics such as age, gender, race, education background, socioeconomic status, occupation, etc.
Read!!!
Consider your own experiences.
Interests, hobbies, work experiences.
Glencoe Page
Chapter 2

10. CREATIVE SOURCES OF IDEAS
Entrepreneurship
4/21/2017
CREATIVE SOURCES OF IDEAS
Consult outside sources.
Trade and specialty magazines
Trade shows and exhibitions
Professional organizations and government agencies
Newspapers
The Internet
Glencoe Page
Chapter 2