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Entrepreneurship Cheat Sheet by

entrep

Entrep­reneur VS Busine­ssman

"­ent­rep­ren­dre­"=one who undertakes or manages
customer oriented
usually more profit oriented
bold and ambitious
usually plays safe
creates his own idea and turns it into a business
business is purchased, donated, or inherited

Advantages of Entrep­reneur

Ownership
control over time, compen­sation, and working conditions
Control
own the business and the profits that your business will earn
Fulfil­lment
passionate and rarely bored

Method

Costs of an Entrep­reneur

Business failure
Accoun­tab­ility
Financial insecurity
extra hardwork
strain on personal relati­onships

Social and Green Entrep­ren­eurship

 
 

Idea Generation

creative process for new ideas, where an idea is a basic element of thought that can be either visual, concrete, or abstract
brains­tor­ming- group method without critic­izing
an idea is not necess­arily an opport­unity (attra­ctive, durable and timely, adds value for its user)

Idea Screening

a measure of spotting good ideas/­opp­ort­unities and dropping poor ones ASAP
1. the personal screen
2. the 12Rs of opport­unity screening
3. pre-fe­asi­bility study
4. feasib­ility study

Tools

Concept Board
helps gather info on consumers' reaction
 
how product looks
 
can help pinpoint exactly what target market wants
Product Prototype
implem­ent­ation of great idea

Termin­ology

Product Develo­pment
overall process of searching ideas for new products, screening, implem­enting and introd­ucing to market
Product Design
render the concept and translate into measur­ement
Design Thinking
method­ology for creative and practical problem solving
 

Product

type of good or service consisting of tangible and intangible attributes that satisfies consumers in exchange of money or anything that has a unit or value

Concept Develo­pment

Stages of Develo­pment

Design Model

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