ENT 526 Lecture Notes - Lecture 3: Capital Market, Bet Her, Ideo

• School: Ryerson University
• Department: Entrepreneurship and Strategy
• Course: ENT 526
• Professor: Steve Tissenbaum

Document Summary

Ent526- lecture 3 opportunity recognition shaping, & reshaping. In entrepreneurship, as in any other profession, luck is where preparation and opportunity meet: the important parts for entrepreneurial success are a superb entrepreneur with a first- rate management team and an excellent market opportunity. The timmons model bases itself on the entrepreneur. The entrepreneur searches for an opportunity, and on finding it, shapes the opportunity into a high-potential venture by creating a team and gathering the required resources to start a business that take advantage on it. A good is not necessarily a good business opportunity but an underlying the market demand determines the potential of the idea. The idea becomes valid when the products or services that create or add value to customers and add value to customers. The timmons model starts with a market opportunity. The business plan and the financing receive secondary importance and come only after identification of a viable opportunity.