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Entrepreneurial Opportunity Assessment

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Global cleantech entrepreneur Bryan Guido Hassin shares information on how to assess, evaluate, and quantify entrepreneurial opportunities. This presentation is part of a 10-week program on entrepreneurship being taught through the Rice Center for Engineering Leadership, where Bryan is Entrepreneur in Residence.

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Entrepreneurial Opportunity Assessment

  1. 1. Opportunity Assessment 2013-06-26 Bryan Guido Hassin Entrepreneur In Residence
  2. 2. How to assess opportunities? • Opportunities are made, not found – But assessing opportunities is crucial to the pivot decision – And especially crucial if you seek resources to help launch your startup 2
  3. 3. The best opportunities often… • Are in times of CHANGE • Capitalize on MACRO-TRENDS • Solve major PROBLEM AREAS • Go beyond PRODUCTS 3
  4. 4. The innovation “piano:” the best opportunities are “chords” Source: Doblin Group Channel Delivery Brand Customer experience 10. Customer experience The overall experience for customers 8. Channel how you connect your offerings to your customers 9. Brand how you express your offering’s benefit to customers 6. Product system extended system that surrounds an offering Product performance Offering Product system Service 7. Service how you service your customers 5. Product performance basic features, performance and functionality Core process Process. Enabling process 3. Enabling process Enabling new connections, interactions, and transactions 4. Core process proprietary processes that add value Business model Finance Networking 2. Networking enterprise’s structure/ value chain 1. Business model how the enterprise makes money 4
  5. 5. Ask the right questions: • Is there a clear customer? • Do you have unique and compelling value proposition? • Can you get to market quickly? • Can you make money?[and be sustainable] • Can you defend your position? 5 Additional resource: The Portable MBA in Entrepreneurship
  6. 6. How big is the opportunity? Total Available Market Served Available Market Target Market SAM = how many can I reach with my sales channel? TAM = how big is the universe? Target Market = Who are the buyers we will target for the next 12 months? Adapted from Blank, Steven B. (2009) “How Big Is it?” High Tech Entrepreneurship Class at Stanford 6
  7. 7. Exercise: Size market opportunity for lemonade stand on campus 10,000 4,000 1,500SAM = unique Rec Center users each day TAM = people on Rice campus Target Market = Students who want to balance grades & health Adapted from Blank, Steven B. (2009) “How Big Is it?” High Tech Entrepreneurship Class at Stanford 7
  8. 8. Evaluating Opportunities: Where can you find this info? • Google [competitor research], stock exchanges[10-K and 10-Q filings] • Customer surveys, pilots, etc • Industry contacts, conferences, etc • Educated guesses  8
  9. 9. Opportunity Assessment 2013-06-26 Bryan Guido Hassin Entrepreneur In Residence

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