The purpose of the venture viability research process is to identify the key questions underlying the viability of a venture, to facilitate reframing of the venture to enhance its viability, and to provide evidence to support the founders' answers to those questions. The venture viability research process for entrepreneurs is different than the process for established companies. The questions are much broader and more fundamental, the available resources are fewer, and the time urgency is usually greater. In addition, entrepreneurs often have an incomplete understanding of the market for their product and limited direct experience with potential customers. The recommended process includes: (1) prototyping of venture designs, (2) identifying and answering key viability questions, and (3) iterating between steps 1 and 2 and adding detail to both the venture design and key viability questions in the process. Entrepreneurs invariably operate on limited budgets and condensed time lines; therefore prioritization is critical to every step of the process. Viability research demands constant evaluation of the attractiveness of different prototype designs. This note will illustrate the steps above, using a series of examples. It will also provide guidance around how to answer key viability questions, using tools such as expert interviews and various types of market research.
This note explores the idea identification stage of becoming an entrepreneur. It covers common sources of inspiration for ideas, such as career, education, hobbies and interests. It discusses the importance of team creation, execution and passion. It emphasizes 4 different categories of trends that create opportunities for new businesses to emerge, illustrated with examples. Finally, the note covers testing the basic viability of an idea, including the customer, product, competition, industry, timing, and risk and reward relationship.
This note gives a broad overview of the energy sector, highlighting trends and market dynamics in 2008. It is intended to be used as a basic primer for entrepreneurs and investors interested in the energy sector, not an exhaustive or definitive textbook for scientists and engineers. It discusses the importance of incumbent energy sources, including fossil fuels, as well as renewable power.
Presents a full-scale business plan for the launch of an Internet service provider (ISP) for the Pacific Rim. Set in 1993, the case has a short introduction, followed by the business plan for PacNet. Dr. Kevin Wong, PacNet's founder, plans to take advantage of the exponential industry growth by becoming the dominant provider of Internet services to Pacific Rim businesses. PacNet's growth strategy depends on acquisition and consolidation of ISPs and the development of proprietary software through partnerships.