Assessment of Entrepreneurial Opportunities
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Transcript of Assessment of Entrepreneurial Opportunities
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Chapter 9 Assessment of Entrepreneurial Opportunities
By: Loren Solis and Brian Toelupe
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I. The Challenge of New-Venture Start-ups
II. Pitfalls in Selecting New Ventures
III. Critical Factors for New-Venture Development
IV. Why New Ventures Fail
V. The Evaluation Process
Chapter Objectives
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Challenge of New-Venture Start-Ups
Need for: Approval Independence Personal Development
Also… Welfare (philanthropic) consideration Perception of wealth Tax reduction and indirect benefits Following role models
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Pitfalls in Selecting New Ventures Lack of Objective Evaluation
No Real Insight into the Market
Inadequate Understanding of Technical Requirements
Poor Financial Understanding
Lack of Venture Uniqueness
Ignorance of Legal Issues
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Critical Factors for New-Venture Development
Uniqueness
Investment
Growth of Sales
Product Availability
Customer Availability
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Why New Ventures Fail
Product/Market Problems: Poor timing Product design problems Inappropriate distribution
strategy Unclear business definition Overreliance on one customer
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Why New Ventures Fail
Financial Difficulties:
Initial undercapitalization Assuming debt too early Venture-capital relationship problems
Managerial Problems:
Human Resource problems Concept of a team approach
Hiring and promotions Poor relationships Founder focused on weakness Incompetent support
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The Evaluation Process
Profile Analysis Feasibility Criteria Approach Comprehensive Feasibility Approach
- Technical- Marketability