a. Perhaps two of the most promising sources for new ideas for an established business comes from customers and employees. Why so? Explain this statement with an example of product/service that originated with the employees or with customers (this may require “research”).
b. In the age of the Internet, there is no shortage of companies started by entrepreneurs. Explain this statement with at least 3 examples.
c. “Who is my customer?” What does the customer want to buy? When does the customer want to buy? What price is the customer willing to pay? So, asking the “W questions” — who, where, what, when — is the first step in business opportunity analysis. Do you agree? WHY?
d. In analyzing business opportunities you may want to look at regulations –potential or existing- that affect that specific industry. Explain this statement with examples.
e. Silicon Valley entrepreneurs are often overwhelmed by the technological aspect, and they may pay too little attention to what the customers want. Why so?