Discuss the motivators and rewards that encourage individuals to begin entrepreneurial careers. What problems might be anticipated if an entrepreneur were to become obsessed with one of these rewards—for example, if he or she had an excessive desire for independence?
A temptation that prospective entrepreneurs often succumb to is deciding on a product or service for their business ventures without first doing their homework. A business opportunity is an apparent way of generating value through unique, novel, or desirable products and services, and even processes that have not been previously exploited. For an opportunity to be viable (enduring), the idea must have the capacity to generate value.
Value comes from addressing a challenge or resolving a problem in an innovative way that provides a feasible, viable, and desirable solution. Framing an entrepreneurial challenge begins with engaging in the challenge and using imagination to envision what could be different.
What to Do (and How to Do It):
Prior to beginning work on this discussion, review Chapters 3 and 4 in the text, visit the Entrepreneur (Links to an external site.)website, and select and watch at least one of the videos that is of interest to you on that website.
You are going to frame a challenge that defines a problem you would like to solve as an entrepreneur, which you will express in the form of an insight statement.
- Spend a few moments, and reflect on the knowledge and experiences you have gained in your life from engaging in your personal and professional environments.
- Allow your imagination to guide you in making a list of the things that you feel passionate about—problems or opportunities that you have a strong desire to change for the better.
- Frame your challenge by responding to the following:
- What is the problem you are trying to solve?
- Describe the ultimate impact you would like to make?
- What are some possible solutions to your problem?
- Briefly describe the context of the problem and the constraints you might be facing.
- Based on the description of your challenge, rephrase the problem by framing it as an insight statement that begins with “How might we?” (For example: How might we create an experience that will drive the community to encourage more use of public facilities?)
- Your initial post should be at least 200 words in length. Support your response with examples from required materials and/or other scholarly resources, and properly cite any references. Respond substantively to at least two of your classmates’ posts.
I can copy or give you access to Chapter 3 & 4 in the book. Just let me know