3. opportunity 2015

Entrepreneurship @ NU 2015

Wai Chamornmarn

3. Opportunity

Opportunity

What is the difference between business ideas and business opportunities?

•  A business idea is a promising concept that can be used to make money.

•  A business opportunity is a proven concept that generates on-going income.

Peter Drucker

Where are Opportunities Born?

•  “We look for ideas that change the way people live or work” • Technology sea change

–  Moore’s Law (processing power) –  Metcalf’s Law (network effects) –  Disruption

• Market sea change –  Value chain disruption/obsolescence/vulnerability –  Deregulation

Where are Opportunities Born?

• Societal sea change –  Changes in ways we live, learn, work, etc. –  Gilder’s Law – 10xs in 10 years (bandwith)

• Brontosaurus factor –  Arrogance –  Loss of peripheral vision –  Deadened reflexes – turning the tanker

•  Irrational exuberance –  Over/undervalued assets

Window of Opportunity

To summarize…

• …a superior opportunity has the qualities of being attractive, durable, and timely and is anchored in a product or service which creates or adds value for its buyer or end-user – usually by solving a very painful, serious problem.

Opportunity Recognition

Characteristics of Good Opportunities

Attractive

Achievable Durable

Value creating

Good Business Opportunity

Before launching opportunity as a business • Consider the resources available to undertake it • Consider the characteristics of the entrepreneur pursuing it

Problem

Magic Ink

Fast Food

道路用製品 Road products

•  Mira Cool Way Heat shield paved two-component curable light traffic road for heavy traffic from road

•  Mira Cool Way W Heat shield paved pedestrian road system for emulsion-type light from road traffic

Unmet Need

Uncover Opportunity Nucleus §  Increase customer

satisfaction § Create a new experience § Uncovering

§  unmet need §  underserved needs

Two Generic “Value types” § Trapped Value

§ More efficient markets § More efficient value

systems § Ease of access § Disrupt current pricing

Two Generic “Value types”

– New-To-The-World Value •  Customize offerings •  Extend reach and access •  Build community •  Enable collaboration •  Introduce new functionality

or experience

Opportunity Evaluation

Importance of Idea Evaluation

Go or No-Go?

Quantify and MAXimize Quantify and MINimize

Vernon’s Razor (ต่อ)

Value Proposition

Profit pattern

Entrepreneurship @ NU 2015 "

Thirty profit patterns

MEGA PATTERNS No profit Back to profit Convergence Collapse of the middle de facto standard Technology shifts the board CHANNEL PATTERNS Multiplication Concentration Compression Disintermediation KNOWLEDGE PATTERNS product to customer knowledge Operations to knowledge Knowledge to product VALUE CHAIN MODELS Deintegration Value Chain squeeze Strengthening the weak link Reintegration

CUSTOMER PATTERNS Profit shift Microsegmentation Power shift Redefinition

Product patterns Product to brand Product to blockbuster Product Profit multiplier Product to pyramid product to solution ORGANISATION PATTERNS Skill shift Pyramid to network Cornerstoning Conventional to digital business design

Profit Zones / Profit Pools

Source: Adapted from Walters (2002), Gadiesh and Gilbert (1998) and Slywotzky and Morrison (1997)

Profit Zone

Find the way

3. opportunity 2015

Business

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