ENT Chapter 4
What led to your business Idea?
1. experience in particular industry/market, 2. discussion with family and friends
entrepreneurial alterness
WHAT set of observational and thinking skills that help entrepreneurs identify good opportunities
What did a guy who worked for IBM create after thanskgiving?
laser cutter for turkey, developed laser eye surgery
license
legal agreement granting you rights to use a particular piece of intellectual property
licensee
person or firm which is obtaining the rights to use a particular piece of intellectual property
licensor
person or organization which is offering the rights to use a particular piece of intellectual property
verification
testing of idea and reducing it to most exact form
incubation
thinking about the problem or opportunity in a "not conscious" way, putting it on the back burner
What are 2 powerful but rarely used sources of ideas?
universities and govt agencies
illumination
light bulb on, ideas flow
what is the most basic and important entrepreneurial behavior?
opportunity recognition
royalty
payment to licensor based on number or value of licensed items sold
opportunity recognition
searching and capturing new ideas that lead to business opportunities: most basic and important entrepreneurial behavior
What did Russel Kendizior of Texas create? What was key in customers?
soap free floor cleaner, chemicals and footwear, frustration
SCAMPER
substitute, combine, adapt, magnify or modify, put to other uses, eliminate, rearrange