Entrepreneurship

1. Business Idea and Opportunity
   1. Identifying Business Opportunities
      1. Market Research
         1. Understanding customer needs and wants
         2. Analyzing industry trends and dynamics
         3. Competitive analysis
         4. Using surveys, interviews, and focus groups
         5. Leveraging data analytics tools
      2. Gap Analysis
         1. Identifying market voids or underserved areas
         2. Evaluating supply-demand dynamics
         3. Analyzing existing product or service shortcomings
         4. Determining customer pain points
      3. Opportunity Recognition
         1. Observing changes in technology or regulation
         2. Keeping abreast of societal and cultural shifts
         3. Using personal experiences and insights
         4. Networking to discover unmet needs
         5. Evaluating potential for profitability and scalability
   2. Idea Generation Techniques
      1. Brainstorming
         1. Free-thinking sessions
         2. Group ideation methods
         3. Silent brainstorming or brainwriting to encourage diversity
         4. Developing a supportive environment for creative ideas
      2. Mind Mapping
         1. Visual representation of connections between ideas
         2. Structuring data logically
         3. Facilitating comprehensive exploration of concepts
      3. SCAMPER Technique
         1. Substitute: replacing elements of your product
         2. Combine: merging elements into new configurations
         3. Adapt: changing existing aspects for better results
         4. Modify: altering size, shape, or layout
         5. Put to another use: exploring alternative applications
         6. Eliminate: removing unnecessary parts
         7. Reverse: reordering processes and workflows
   3. Feasibility Analysis
      1. Market Feasibility
         1. Assessing target market size and potential
         2. Understanding customer demographics and behavior
         3. Evaluating scalability potential
         4. Determining trends and growth rates
      2. Technical Feasibility
         1. Evaluating required technological resources
         2. Assessing necessary skills and expertise
         3. Analyzing production and operational capacities
         4. Reviewing supply chain and resource availability
      3. Financial Feasibility
         1. Initial capital requirements estimation
         2. Projected revenue and profit margins
         3. Break-even analysis
         4. Identifying funding sources and financial risks