Starting a Business: Vision and opportunity

Discovering or creating opportunities is a central notion of entrepreneurship. There is much debate about whether entrepreneurs discover opportunities like a gap in the market or create them using their expertise and knowledge gained over time. In reality, the boundary between discovery, known as causation, and creation, known as effectuation, can be blurred. It is important to share your vision with other people, the opportunity business model. Dimensions are a way of expressing a business idea.

Proposition - can you express this in seven words

People - network of advisors and other stakeholders (social network)

Place - where is the market, who are the customers and competitors

Process - how is the enterprise structured? how does this business work?

Profit - what are the real returns of the opportunity? KPIs? Ownership?

Source: Futurelearn - University of Leeds

#startup #business #tips #life