RecognizingOpportuni

ty

Mary Jane Clark, Certified Ice House Facilitator 2014Contact mjclark@stepupministry.org

S t e p U p E n t r e p r e n e u r s h i pLesson #2

Recognizing Opportunity

entrepreneur

Ques t i on

Entrepreneur is a slightly pretentious word!

What does it mean? • Entrepreneurship doesn’t necessarily mean

high tech, high growth, big risk, all-consuming effort, financial risk, or even something new.

• Entrepreneurship is having the motivation to start something and to explore possibilities to earn profit.

Answer

Entrepreneurship is mindset

… a set of beliefs or way of thinking that determines one’s behavior, outlook, mental attitude, plus one’s capacity to take action.

I deas?

Look for what’s not working

Entrepreneurs solve problems for profit.It can include simply improving a process.

Look for opportunities

It can include figuring out how to monetize a hobby or passion.

I deas?

Look close to home

If you can make it work, you may have found an incredible opportunity.

It can include solving everyday problems in your own life!

I deas?

Rea l i t y

Spanx: Sara Blakely started with a problem, an idea, $5,000 and a NC textile manufacturer. The textile industry’s decline played a significant role in the manufacturer’s decision to accept her order for “footless” pantyhose. They called it crazy.

Got Questions?

Why do children ask the most difficult questions?

Natural curiosity?

ProblemWhy have adults quit asking important

questions? Is creativity is being killed by our educational

system?

• Systems are for mass production.• Systems demand compliance.• Systems are for replication.• We are not cogs!

Demograph i cs

Your future is entirely in your hands. Studying demographic trends

is one key to identifying opportunities.

Head l i ne

The Future of Employment?Lower hours, low wages, low skills,

no benefits and no security.

Quest i on

What is the level of engagement in America of people in their jobs?

Factoid

70%

Does this figure ring true in your life?

What else might it mean? Thank you Gary Schoeniger of Kauffman Labs for sharing this fascinating information!

Your Process

• PLAN by defining a specific opportunity and understanding how it is valuable in the business world.

• DO take concrete steps to test and document the idea. Just do it!

• CHECK what needs improvement or adjustment.

• ACT on the plan and work your strengths.

Watch PBSTo enlarge

Your world!

I deas?

Everywhere… all time!

As an opportunity specialist, you will have the advantage if trends, patterns, problems, and changes

are detected before others have noticed—

and then you can put those ideas into a plan and take action to achieve a potential profit.

So, what’s the problem?

Oppor tun i ty

Fear or challenges? Can we talk?

X-Fac to r

W h a t d o y o u e n v i s i o n ?

Learn to recognize patterns as they are forming. What trends are apparent here?

Imag ine

D o T h e M a t h !

How can you combine products or ideas to create value and make money?

Expansion Theory

Valuable opportunities can often arise when two or more things are brought together for opportunity examination.

Combos

Combining• Ideas• Forces• Products

What Is The Potential Value of Combining Ideas, Products and Forces?

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=

Question

T h i s i s w h y y o u h a v e t w o e a r s —a n d o n l y o n e m o u t h !

U s e t h e m w i s e l y !

Characteristics

Listening

Characteristics

Write about an opportunity you’ve recently spotted:

This is recognizing opportunity. Seek simple solutions, common-sense, ideas or changes rooted in reality, good service ideas, automation, simplifying a cumbersome process, improving outcomes for customers.

Always ask: Where’s the pain?

Activity

Discuss

Brainstorm Breakout!

Act i ons

• Identify and cultivate mentors. Look for contented people. Here you will find insight into what has worked and what might work better.

• Look for contrarians. They complain all day for free!• Pay close attention to all types of people, ask more

questions, listen— to the world around you. • Opportunities are everywhere.

Little steps! Maximize your lunch hour!

Fre e I d e a s

W h a t s e c t o r s a r e i n v o l v e d i n r e c y c l i n g ?

Recycle old products by looking for "left-behind" markets or untapped markets—old cars, older model computers, tape and record players, televisions, books. As long as people continue to use certain things, they continue to have needs. Look for new adaptive uses or secondary markets for old products—old jeans, natural fabrics, tires, end pieces of lumber, record players, records, CDs, computer mother boards, etc.

Idea- Work in our lab on the project with Teaming 4 Technology

G o t N o t h i n g ?

Get Go ing

Look for what has worked elsewhere? Examine the concept in depth. • History is a powerful teacher.• New ideas are great, but not required.• Copy-catting is fine if you can do it better!

C a s e S t u d y

In 2011, StepUp launched three initiatives:

Vocational Training: Fiber Optics, Auto Mechanics, Customer Service and Management. Mixed results. Rethinking how! YELLOW = CAUTION!

Veterans: Job readiness and job

placement for Veterans. Unintended

consequences. RED LIGHT = STOP

Entrepreneurship Program: Teach graduates how to

run a successful business.

GREEN LIGHT!We’re even adding to it!

I nnova t i ve

We are not cogs!

If you are dissatisfied in your work, then develop your mindset. Make a plan, do it,

check the plan and act on your ideas. Repeat.

Inquiry

A genie has granted your wish for financial freedom and you will receive $1,440.00 daily for life! *You must spend all of it every day.

What will you do with it?We all have the exact same amount of time each day. 1440

minutes.Time is money! Focus your time, dream big, and make a firm

plan. Experiment in the margins of your life.

What’s Hot Now?

Information is the world’s new currency!

$

1. Finish reading Who Owns the Ice House?2. Watch your video lesson online and take notes.3. Complete the assignment in your workbook.4. Fill in your Opportunity Discovery Canvas.

Assignment

ExpectationsPlease describe in detail on your canvas…• the problem being solved (opportunity)• your specific product or service (idea)• solutions currently available (OR)• how your product or service is different (USP)• estimate how many people have this problem

(scope)• how you will reach potential customers

(marketing)• why will customers buy from you (their value)• how they will buy from you (process)• formulate a specific plan as to how you will

test these assumptions in the real world.(test)

Decide how to test your assumptions

over the next month in the real

world.

Your M iss ion

Lessons In Opportunity

Mary Jane Clark, Certified Ice House Facilitator 2014Contact mjclark@stepupministry.org

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