INNOVATION IN BUSINESS ENTREPRENEURSHIP MANUAL

MANUAL INNOVACIÓN EN EL EMPRENDIMIENTO EMPRESARIAL

When we talk about Needs/Wants, several questions arise:

1) Are these needs/wants very "buried" or very visible? It is difficult to satisfy needs/wants that are still very latent, or very "buried", it is only within the reach of a "market maker", it requires a significant financial effort (for example, Apple is a market maker, who would have thought just 6 years ago that we would have the desire/need to have a tablet). On the other hand, if the need/desire is very "visible", there may already be an important and extensive offer that tries to satisfy it. 2) For the few or for the many: although an offer for the "few" allows the offer to be focused, perhaps the correct answer in this case is "for the many". If the need/desire is for many, if we get the value proposition right, scaling business growth will be easier. 3) It does not matter that there is already an offer (competition) for those needs and desires, the key is how to make our offer "better", without forgetting that "better" can have many attributes: design, financing conditions, pre and post sales service, delivery, price, quality, etc  where to look? (in the search for the business idea): the "where" to look in the search for the business idea has a "certain order": 1) Perhaps the first place to look is "inward" - what do I know and/or have experience of? In Jim Collins' book, "Good to Great", it is clear that "successful entrepreneurs knew a lot about their business". They have looked into their professional and life experiences and thought that there was a different (better) way of doing things. Almost all successful entrepreneurs have this pattern: they have done it in areas that are close to them, that they know very well. Guy Laliberté came from the world of the traditional circus, Amancio Amancio Ortega started working in a clothing shop in La Coruña, Felix Tena of Imaginarium learned the toy business from a previous venture he had with some Italian partners (although the project turned out badly), Lucas Carne and José Manuel Villanueva of Privalia knew very well the critical competencies of an Internet outlet, not to mention the founders of Google, Larry Page and Sergey Brin, who knew their business very well.

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European Open Business School