In the first part of Opportunity and Idea Generation, we provide an overview of the academic literature available in the area of entrepreneurial opportunity recognition. In the second part, we will present the practical part of this post – interview with an entrepreneur.
This post provides an overview of the academic literature available in the area of entrepreneurial opportunity recognition.
Firstly, the opinions and theories of some respectable members of the academia from this field are discussed and compared. Then some contemporary issues in entrepreneurial models’ design are elaborated upon with one specific scholar study being given as an example.
Is there unique one type of customers for a business? It is impossible. Every business has different customers or buyers. There are no businesses in which all customers will be the same. Each behavior, needs, and desires will not be the same… Here is how you can make business optimization for customers.
It is normal for you to try to satisfy all the different customers for their business. But, is it possible? Big businesses have big resources to make this possible? But what about small businesses? Do they have the resources for such ventures? They may not have resources, but they have flexibility and shifty entrepreneurs who are so far away from the spiral of large bureaucratic companies!
Surviving is the first thing that every business owner is focused in a tight economy. Competition is always there. Some businesses operate on the market without competition. But, it is impossible that this will be the same in the future. Many businesses operate in a tight economy and competitive market.
The time between operating without competition and time when the competition will come now is at the lowest level.
Differentiating, using new strategies and offer value to the customers is something that will make surviving in a tight economy and competitive markets more possible. Who will survive? Only the best and more valuable from the customer’s perspective will survive.
Continuous business improvements are the basis for your competitive advantage. The most successful businesses are businesses that are always different today from yesterday, and tomorrow bring something new. So, in such a way they are making today always to be better from yesterday.
In this post, you can find the list of 77 items as possible business improvements that you can use in the next 77 days. Of course, the list is not final. We can go with more possibilities that can bring overall business improvements. However, it is limited to the 77 most important elements for your company to feel the benefits as soon as possible.
Everyday business improvements are the lifeblood of the success of your company. Because of that, I think that you need to take all necessary steps to work on many business improvements as quickly as possible.
You can use all 77 ideas for business improvements all at once, but my recommendation is to use them in the cycles. Start from the first day and finish with the last day, but then go back again from the first day. In such a way, you can have a company that will be much more difficult to be copied for someone else. Just, start with the proposed business improvements.
Knowledge is the second layer of an entrepreneurial success. However, also it is something that must be everywhere in your business. It also can be used as a prop during sales that will boost your business income. It is composed of two major elements: education and experience, but it needs the passion and persistence to build it and use it for the business purpose.
Here are 8 ideas to use your and your sales teams knowledge as a prop during sales.