Reference no: EM132779184
Idea Generation Exercise
This exercise is the starting point for generating business ideas and future new ventures. You may ask your classmates to give feedback, review, and evaluate your ideas. You may ask anyone you wish to provide you with feedback.
Step 1
Generate a list of as many new venture ideas as possible
Step 2
Expand your list considering your desired lifestyle, your values, what you feel you will do well, and contributions to society you would like to make.
Step 3
Ask three people to review your list and revise it based on their feedback
Step 4
Which one of the ideas address the greatest aggravation frustration that you and other people face? Which idea creates the greatest customer value?
Step 5
Quick Screen - Review Entrepreneurial Finance Chapter 2 and class notes to conduct a quick screen of your ideas. List out the most important criteria and rank your ideas based on customer value proposition, the market, economics of the business, harvest potential, competitive advantage, management competencies, your personal criteria, and strategic differentiation.
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