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
