Quality Learning Support For Better Outcomes
First time here? Checkout the FAQ!
MathsGee is Zero-Rated (You do not need data to access) on: Telkom |Dimension Data | Rain | MWEB

0 like 0 dislike
How do entrepreneurs identify problems and/or opportunities?
by Wooden (2,570 points) | 29 views

1 Answer

0 like 0 dislike
Identifying a problem, or an opportunity, is crucial to the entrepreneurial process. Your entire Business Model Canvas revolves around how you create, deliver, and capture value for individuals who have problems and needs.

Before you can dive into the Business Model Canvas, you must determine what problem you currently are solving or will solve. Once you’ve identified the problem, you’ll be able to determine who has this problem (Customer Segments) and generate unique solutions to the problem (Value Proposition).

Alexander Osterwalder and Yves Pigneur (2010) assert that business model innovation is rooted in creating new models that meet “unsatisfied, new, or hidden customer needs” (p. 136).

As entrepreneurship scholar Donald Kuratko contends, entrepreneurs are “individuals who recognize opportunities where others see chaos, contradiction and confusion” (p. 3). Learning how to recognize entrepreneurial opportunities amongst the chaos and confusion may seem daunting at first, but it is a skill that can be learned and, if mastered, will position you for success.
by Wooden (2,570 points)

Related questions

1 like 0 dislike
1 answer
0 like 0 dislike
0 answers
0 like 0 dislike
1 answer

Welcome to Startups Q&A, a free online network where founders can ask, answer, and explore 24/7 for improved outcomes.

On Startups Q&A, you can:

  1. Ask questions
  2. Answer questions
  3. Comment on Answers
  4. Vote on Questions and Answers
  5. Donate to your favourite users
  6. Create/Take Live Video Lessons

Posting on MathsGee

  1. Remember the human
  2. Behave like you would in real life
  3. Look for the original source of content
  4. Search for duplicates before posting
  5. Read the community's rules

Join the MathsGee Club for exclusive quizzes, courses and interactive content without ads.

Join the MathsGee Club for exclusive quizzes, courses and interactive content without ads.