It is time to begin the process of being able to determine what opportunity is and to identify what opportunities previous entrepreneurs have recognized. It is imperative to not confuse opportunity with solution. Opportunity comes first. What did the entrepreneur “see” that made the person think, “there’s an opportunity here.” What was that opportunity?
Discussion Directions: Select an entrepreneur (excluding Steve Jobs) and respond to the following:
- State the entrepreneur you chose and their company name (NOTE: this is not about the history of the person or the company, simply state their name and company).
- Identify the opportunity the entrepreneur turned into the reality of a solution (identify the opportunity, not the solution).
- Describe why you think this was a valuable opportunity (focus on the opportunity, not the solution). This is not the monetary value of the opportunity. This value is about “what’s in it for the consumer?” Think of it like this: What is the opportunity of you getting your college degree? The solution is getting the degree, but what’s the opportunity for you?
- Briefly describe the solution for the opportunity (now describe the solution itself)
