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Download The Entrepreneurial Mindset - edX  ENTREPRENEURIAL MINDSET PITFALLS IDEA APPROACH LEAN START-UP TEAM GET YOURSELF STARTED Create your business idea and evaluate its potential

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  • School of Business and Economics

    TIMEResearch Area | Innovation & Entrepreneurship Group (WIN)

    The Entrepreneurial Mindset

    From Idea to Opportunity

  • THE ENTREPRENEURIAL MINDSET

    PITFALLS

    IDEA

    APPROACH

    LEAN

    START-UP

    TEAM

    GET YOURSELF

    STARTED

    Create your business

    idea and evaluate its

    potential

  • IDEA OR OPPORTUNITY?

  • DIFFERENCE BETWEEN IDEA AND OPPORTUNITY

    IDEA

    A thought or conception that

    potentially or actually exists

    in the mind of an individual

    or group

    OPPORTUNITY

    A chance for progress or

    advancement under

    favorable or advantageous

    circumstances

    [1]

  • GOOD IDEA GOOD BUSINESS OPPORTUNITY

    Segway will be to the car what the car

    was to the horse and buggy.

    Dean Kamen, founder of Segway [2]

    Technologically a brilliant idea, but does it fulfil its original purpose?

    [3]

  • HOW TO RECOGNIZE AN OPPORTUNITY

    Process

    To Dos

    Open

    Mind Ideas

    Good

    Ideas

    Business

    Opportunity

    Creative

    Process

    Short

    Evaluation

    Structured

    Work

    Openness

    Creativity Tools

    Reflection

    Experience/

    Tools

  • REFERENCES

    [1] EP Studios (2015): Reading about Steve Jobs. URL: http://www.epstudiossoftware.com/wp-

    content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpg. Access Date: 17.08.2016

    [2] Heilemann, J. (2001): Reinventing the Wheel. In: Time Magazine, Dec. 02, 2001

    [3] Seattle Travels (2016): Segway Tour of Prag. URL: http://seattlestravels.com/wp-

    content/uploads/2012/09/IMG_8278.jpg. Access Date: 17.08.2016

    http://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://www.epstudiossoftware.com/wp-content/uploads/2015/06/Steve-Jobs-and-Steve-Wozniak-and-Apple-II.jpghttp://seattlestravels.com/wp-content/uploads/2012/09/IMG_8278.jpghttp://seattlestravels.com/wp-content/uploads/2012/09/IMG_8278.jpghttp://seattlestravels.com/wp-content/uploads/2012/09/IMG_8278.jpghttp://seattlestravels.com/wp-content/uploads/2012/09/IMG_8278.jpghttp://seattlestravels.com/wp-content/uploads/2012/09/IMG_8278.jpg

  • ORIGIN OF IDEAS

  • Social Network for university 1

    1

    3

    2

    4

    It's graduation day, 4 years of college come to an end. Many will move to a different city, even a different country...

    "I will miss you guys so

    much such a pity that

    we won't see each other

    anymore!"

    "It will be super hard to keep in

    touch with everyone spread out

    around the globe..." "Yes, definitely I would

    really love to know what

    everyone is up to..."

    "Why isn't there a platform

    for us to keep track of

    each other this shouldn't

    be too hard to do, right?"

    "This sounds amazing like a Facebook

    for university students where you can

    share pictures & post stuff..." "Such a cool

    idea I would

    definitely sign

    up for this!"

  • Backpacker Luggage Delivery 2

    1

    3

    2

    4

    Having arrived at the airport, he tries to check in his luggage...

    After months of anticipation,

    the day has finally come:

    Philipp is about to start his

    backpacking trip to Australia.

    After packing everything he

    needs for the next weeks, he

    can barely lift his backpack.

    "Sorry, Sir your luggage far exceeds the

    allotted weight limited of 23 kg. I am afraid

    that I need to charge you an additional 50

    per additional kg."

    Service desk agent Philipp

    "Wow that's more than 300 on top!

    How am I to fit all my clothes, my tent,

    my sleeping bag and all the other stuff

    into a 23kg bag? That's impossible!"

    Service desk agent Philipp

    "I am really sorry, Sir you will either need to

    pay the excess fee or send it by mail this

    might take a couple of weeks, though."

    "This is ridiculous! There should be a

    company that specializes in helping out

    travelers like myself this must happen

    all the time!"

  • Online Style Consultant 3

    1

    3

    2

    4

    It's a sunny day in spring,

    Tom and David are waiting for

    their friend Michael to arrive

    to grab a coffee in the park.

    He finally gets there, looking

    distressed...

    Tom David Michael

    "Hey Michael, what's going on?

    We've been waiting for you for a

    while, what took you so long?"

    "I am so sorry guys! It's just that I have a

    wedding this weekend and my crush is

    going to be there...you know how long it's

    been since I have been to an event like

    this? I have no idea what to wear!"

    Tom David Michael

    "So what? Just put on a nice suit

    and your best tie and you are good

    to go! What's so hard about that?"

    "The only suit I own is from my high school

    graduation you know how long that has been? I

    definitely need a new one and it needs to look

    great! Can you guys help me pick one?"

    Tom David Michael

    "Hmmmm...not sure what to

    look out for my cousin

    always helps me out with this

    kind of stuff, she works in

    fashion."

    "This sucks I don't know anyone

    who I could take...why isn't there a

    platform that connects me with

    someone who can give me some

    advice this shouldn't be hard to set

    up, right?"

    "Same here if I

    didn't have my

    girlfriend to help me

    out, I wouldn't know

    what to buy!"

  • OPENESS IS NECESSARY FOR IDEA GENERATION

    Process

    To Dos

    Open

    Mind Ideas

    Good

    Ideas

    Business

    Opportunity

    Creative

    Process

    Short

    Evaluation

    Structured

    Work

    Openness

    Creativity Tools

    Reflection

    Experience/

    Tools

  • GENERATION OF IDEAS

    Ideas are often created in everyday situations

    1% 4%

    16%

    13%

    37%

    3% 1%

    11%

    14% Others

    At work

    Meeting

    Holidays

    Leisure time

    Breaks

    Creativity Techniques

    Business travel

    At home [1]

  • ORIGINS OF IDEAS

    Pain of Customer Gain of Customer

    Biggest frustrations

    Major obstacles to

    achieve goals

    Needs

    Fears

    SERVE

    A NEED

    CREATE

    A NEED

    Needs

    Desires

    Goal and success

    definition

    Customers strategies of

    achieving goals

    [2]

  • EVENTS & CHANGES

    TECHNOLOGICAL

    EVENTS

    MARKET

    EVENTS

    SOCIAL

    EVENTS

    SOCIATAL

    CHANGES

    Technological

    innovation

    Digitalization

    Deregulation

    Economic opening

    Insolvencies

    World cups

    Festivals

    Public holidays

    Environmental

    awareness

    Urbanization

    Trigger of

    entrepreneurial

    activities!

  • REFERENCES

    [1] Fueglistaller, U., Mller, C., & Volery, T. (2013): Entrepreneurship: Modelle-Umsetzung-Perspektiven. Springer

    Verlag.

    [2] Bratsberg, H. M. (2012): Empathy Maps of the FourSight Preferences.

  • QUICK EVALUATION

  • Process

    To Dos

    COMMERCIAL POTENTIAL

    Assessment of commercial potential by quick evaluation

    Open

    Mind Ideas

    Good

    Ideas

    Business

    Opportunity

    Creative

    Process

    Short

    Evaluation

    Structured

    Work

    Openness

    Creativity Tools

    Reflection

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