Launch - Summer 2008 - (Page 24)

Opportunities vs. Ideas By T. Craig Bott President and CEO Grow Utah Ventures Discovering the difference between a good business idea and a solid business opportunity can make all the difference between creating a successful business and having a water cooler war story. Distinguishing between ideas and real opportunities is the fundamental challenge facing every entrepreneur. Entrepreneurs who can correctly sniff out the real opportunities are the ones who will build successful businesses and create real value. For these entrepreneurs it is not so much a hunt for that one golden idea but is instead a constant process of sifting and sorting through a range of prospective opportunities. Leading entrepreneurs have learned to do this as systematically as possible. They employ a variety of filters, from the coarsest down to the finest, to quickly eliminate most opportunities to find the few that possess real value. Identifying real opportunities requires a systematic consideration of key characteristics and relying on a decision-making discipline that not all entrepreneurs have but which can be learned. 24 launch summer 08

Table of Contents Feed for the Digital Edition of Launch - Summer 2008

Launch - Summer 2008 Contents Editor's Note Dashboard Marketing Column Funding Column Sales Column Risks vs. Rewards Myths of Entrepreneurship Opportunities vs. Ideas Funding Options for Startups Making Sense of Term Sheets

Launch - Summer 2008

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