Entrepreneurship, Second Edition

3.6. YOUR OPPORTUNITY JOURNAL

Reflection Point

Your Thoughts...

What do you really enjoy doing? What is your passion? Can your passion be a platform for a viable opportunity? What do your friends and family envision you doing? What strengths and weaknesses do they observe? How do their insights help lead you to an opportunity that is right for you? What ideas do you have for a new business? How can you multiply the stimuli around these ideas to enhance them and identify attractive opportunities? Put several of your ideas through the opportunity checklist in Figure 3.10. Which ideas seem to have the highest potential? How can you shape, reshape, and refine your opportunities so that they have a greater chance to succeed and thrive? Identify some early, low-cost market tests that you can use to refine your opportunity. Create a schedule of escalating market tests to iterate to the strongest opportunity.