Entrepreneurship - Idea to Business

  • Entrepreneurship: Starting and managing new ventures by spotting opportunities.
  • Entrepreneurs innovate, lead, and take risks.
  • Importance of equality for sustainability and growth.
  • Take an idea and create a business: Honesty, hard work, planning, and learning from mistakes are essential.
  • Ideas come from identifying a solution, method, innovation, a service, an invention to a problem, a need, a skill, a gap.
  • Plan: "Failing to plan is planning to fail".
  • Brainstorming: quantity over quality, no idea is a bad idea.
  • MindMaps: organizing thoughts, build and explore adding layers.
  • People buy solutions: what pain does your product/service stop?
  • Research costs, market, Tech, HR, Government Regulations, Patent, and market.
  • KISS: Keep It Simple, Stupid.
  • SMART: Specific, Measurable, Achievable, Relevant, Timely.
  • Gantt chart: A type of Bar chart visualising a schedule.
  • SWOT analysis highlights Strengths, Weaknesses, Opportunities, and Threats.
  • Eisenhower Matrix: Urgent/Important. Do, decide, delegate, delete.
  • USP: Unique Selling Point is important to define what your differentiator is!
  • SPIN Selling: Situation, Problem, Implication, Need-Payoff.
  • Market: business or trade in a particular product.
  • Value Chain: The full life cycle of a product.
  • Porter’s Market Forces: analysing the competitive environment.
  • First Movers: Advantages and Disadvantages include learning from mistakes and having established markets.
  • Up/down or Cross Selling.
  • Business Model: Your plan for making a profit.
  • Business Scaling: Profits tend to grow exponentially with scale.
  • First Steps engage with local help and Plan.
  • Engage with local help, plan, Lean (Entrepreneurs are Everywhere; Entrepreneurship is Management; Validated Learning; Innovation Accounting; Build-Measure-Lean).
  • Exit Strategy: What does success look like?