Mod 1

The brie model

Boundary, Resources, Intention, Exchange

Online pilots testing steps

Deploy, track, revise, repeat

Imitative strategy

Doing the same thing as others

Entrepreneurial Life cycle

Emergence Existence (survival) Success (resource maturity) Takeoff

IDEO screen involves researching/looking at/considering

Market Desirability Technical feasibility Business viability

The 5 Ps of Entrepreneurial Behavior

Passion, Perseverance, Promotion/Prevention focus, Planning style, Professionalization

Entrepreneurial Mindset

The motivations, cognitions, attitudes, aptitudes, and behaviors that lead to a propensity to create solutions to problems or seek opportunities to do something new or better.

set-asides

a government contracting funds earmarked for particular kind of firms, such as a small business, minority owned firms or woman owned firms

License

a legal agreement granting you rights to use a particular piece of intellectual property

Online pilot test

a low cost, low risk approach to testing feasibility deploy an information website and start advertising track the number of visits, get their demographics, figure out conversion rate

second career entrepreneurs

begin business after left, retired or resigned from work

5 planning styles

comprehensive - develop long range plans critical point - plan around most important aspects, act on it, then consider if more is needed opportunistic - start with goal and look for opportunity to achieve it reactive - completely passive, wait for cues from enviroment Habit - based - base their plans on routine

Casual Model

decide you have a great idea and want to start business asses resources, get help, assess feasibilty if feasabile And there is intrest, keep going, if not go back and check make product or service and the company to sell it and get into the market

radical innovation strategy

different way to do things

Income rewards

money made from owning your own business

flexibility rewards

most rapidly growing type of reward

Effectuation model

recognize you want to do or make something thru a busniess assess resources and determine your product or service & customers offer your product/ service and see if it sells if sales good, keep going, if not go back and check step

growth rewards

rewards from facing and beating or learning from challenges

Incremental strategy

slightly better way of doing something

Who pays the licensor

the licensee

the feasibility study

the overall business idea (establish target market) the product/service the industry/ market financial projections plan for future action

Feasibility

the state or degree of being easily or conveniently done.

Conversion rate

those who provide an email for more information

Cognition

visible in a persons actions, their way of looking at and thinking about themselves and their world

A/B testing

when 2 or more versions are running