Read the [[full article|/static/files/MBI/Module%2010/Opportunity%20recognition.pdf]] Opportunity Recognition, by Jeff Timmons. Ch 2 in Portable MBA in Entrepreneurship, 1997.

An [[Opportunity]] has the quality 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. Opportunities are situational. It is often assumed that marketplaces dominated with large companies can not be penetrated. This is often not true. It can take up to six years before a large company changes its strategy and even longer. It can take up to 10 years before a changed strategy is actually implemented.

Small companies success can often be attributed to limited resources (see also [[M3-S4 - Reading - Everhart, H.R. The art of bootstrapping]] and [[M3-S1 - Reading - Kawasaki, G. 2004, The art of the start]]).

<<tiddler [[Criteria for evaluating venture opportunities]]>>
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