Chapter 2: Opportunities

The identification and evaluation of opportunities is one of the entrepreneur’s most important tasks. Good opportunities address important market needs. Examining social, technological, and economic trends can lead to the identification of emerging needs. Entrepreneurs seek to build new ventures and to act on a good opportunity when it matches their capabilities and interests, exists in a favorable context, exhibits the potential for sustainable long-term growth, and facilitates the acquisition of required resources. Such opportunities offer a reasonable chance of success and require the entrepreneur to make a difficult decision to act or not act. The choice of an opportunity and the decision to act is a critical juncture in the life of an entrepreneur. With the decision to act, the entrepreneur prepares a business summary for the venture that is used to test the new venture with potential investors, employees, and customers.

1. “Disruptive Technologies” with John Doerr, KPCB

2. “Pressure Points Around Opportunity” with Brad Feld, Foundry Group

3. “Internet of Everything” with Padmasree Warrior, NextEV

Continue to Chapter 3

Tom Byers, Stanford University

Tom Byers is a Professor in the Department of Management Science & Engineering at Stanford University and a faculty director of the Stanford Technology Ventures Program (STVP).

Andrew Nelson, University of Oregon

Andrew Nelson is Associate Vice President for Entrepreneurship and Innovation and an Associate Professor of Management at the University of Oregon.

Richard Dorf, University of California, Davis

Richard C. Dorf is a Professor Emeritus of Management and Electrical and Computer Engineering at the University of California, Davis.