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Unit 2 Entre

TermDefinition
Industry and Market Evaluations Perceived customers (market) Expected lifetime use Growth potential
Economics and Profitability Capital needed Projected profit margins Break-even point return pf investment potential
Competitive Advantage Benefits offered intellectual property streamlined processes successful partnerships
Management and Team Team members strengths and weaknesses Background, integrity
Self and Investor Analysis Goals of, and fit with team Opportunity cost (what are you giving up, to have an investor?) Risk and Reward tolerance
Empathy Who and what
Ideation Developing and moving beyond
Prototyping Experimenting and moving ideas forward
Idea vs Opportunity (Idea) Idea - A concept with no plan, Nesarary starting point, Not all ideas will work
Idea vs Opportunity (Opportunity) Opportunity - Idea with a plan, Could make for a profitable business, Driven by customers needs
Start up A temporary organization that searches for a repeatable and scalable business model.
Small business Started to fill a gap or provide a service, be your own boss
Value proposition Statement that clearly identifies why people should go to you/your business instead of others.
Creativity vs Innovation (Creativity) Potential of the mind to conceive new ideas hard to measure but easy to see subjective
Creativity vs Innovation (Innovation) Process of translating and idea of invention into a good or service.
Driving forces behind creating value (3) Opportunity - Driven Strong Entrepreneur Financial resources
Created by: mnjhbg
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