The complete version of this video is available via Enterprise☆Hour
To start a company,
You must be passionate enough to migrate
into owning either a technology or an Idea.
What’s your motivation for considering
entrepreneurship?
Could it be more of making an impact on
the world?
Perhaps, you wish to maximize the use of
your skills.
Possibly, you just want to be your own
boss.
Different folk’s different strokes…
My journey into entrepreneurship has
been a mix of the following scenario but
Idea in combination with passion has taken
the lead.
So, what’s the diverse ways of starting
a company.
==========
Idea Driven-Entrepreneurs
==========
The term “Market Pull” refers to a
situation whereby
A requirement for a new solution to a
problem prompted the start of a business.
The need is recognised by potential
customers or as an outcome of a market research.
There is a proper understanding of the
market implying lower risk but poor competitive advantage.
If and when problem is solved, the idea
becomes rewarding.
===============
Technology Driven-Entrepreneurs
===============
“Technology Push” involves starting a
company based on an innovative technology
Often derived from research and
development in a laboratory.
In this scenario, a market research is
not necessary.
Better described as a solution looking
for a problem or a market.
It’s somewhat complex route but
rewarding because of the competitive advantage.
============
Passion Driven-Entrepreneurs
============
Usually have a powerful desire to become
an entrepreneur.
They wish to have a control on their
destiny and test talents to the maximum.
It’s wonderful thing to have the passion
however it is not enough to start a company.
Creating or joining a team that has got
an idea or technology may be the preferred route.
Are you able to sum up your idea,
technology, or interest in one brief sentence?
Coming Up Next on Enterprise☆Hour
FROM PASSION TO IDEA
I will be taking business related questions with emphasis on innovation driven entrepreneurship.Join my live chat on Facebook
Mondays at 8pm
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