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Copyright – 2016 – Virtuology Academy
How to find a Business Idea?
Don’t start by looking for it, start by knowing who you are. (Do you really want to know? Let’s jump to the next slide!)
FINDING AN IDEA IS A PROCESS…
LEAN STARTUP How can I start?
ENTREPRENEUR Who am I?
BUSINESS MODEL CANVAS
Can I turn this idea into a business?
DESIGN THINKING Find an idea
PIMENTOMAP Test my Business Model
MARKET OPPORTUNITY
Will the market adopt my idea?
As entrepreneur, you should be familiar with these 6 basic methodologies. If you are not, we can guide you by providing a free presentation per topic. J Check the last slide for more info.
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• 4 key elements to determine who you are
• Interests
• Ambitions
• Competitive advantage
• Competences
• Define a fertile ground
• 3 dimensions of a good idea
• What’s next?
Today, we will cover the first topic: « Who am I as an entrepreneur? »
You’ll need to be an active reader and you will spend about 10” to cover the full presentation.
Copyright – 2016 – Virtuology Academy
Ready to start the process?
Grab a piece of paper and let’s go!
Copyright – 2016 – Virtuology Academy
A. You are a mix of these 4 elements
INTERESTS COMPETITIVE ADVANTAGE
COMPETENCE AMBITION
WHAT WOULD I LIKE ? What are my dreams? What motivates me? What goal do I want to achieve?
WHAT CAN I DO ? What am I good in? Why am I different? What are my resources?
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1. Interests
WHAT ARE YOUR INTERESTS?
Hobbies What do you do in the WE ? What books do you read ?
What conferences/fairs do you go to?
25% private Energizers
What is the best part of your work? What groups do you follow on social
media/press? What would be your dream job?
50% professional Causes
What are the causes you participate in? Why?
What values are important to you?
What would be your dream world?
25% personal
à Write them down!
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Private Hobbies
Professional Energizers
Professional Energizers
Personal Causes
Select the most important elements in each bubble & Map your Interests
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2. Ambitions
1 How many people do you want to manage?
2 How rich would you like to be?
3 What title would you like to have?
WHO DO YOU WANT TO BE IN 5 YEARS FROM NOW?
4 How many hours per day would you like to work?
5 Where do you want to live?
TIP: If you already have a business partner, ask him to do the same exercise and then compare your answers.
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3. Competitive advantage
1 What makes you different from most of the others?
2 What networks do you have and where?
3 Where have you built credibility?
WHAT IS YOUR COMPETITIVE ADVANTAGE?
4 What markets do you know?
Yes, you have one! J
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4. Competences
1 What is your education?
2 What is your experience?
3 What languages do you speak?
WHAT ARE YOUR COMPETENCES ?
4 What are your skills?
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B. Define your “fertile ground”
Fertile ground
It’s not censured by yourself
It’s an area not an idea
Defined but not to much
Close to your heart
Leverages who you are
Your fertile ground should be the starting point of your entrepreneurial journey
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Mix your interests, ambitions, competitive advantage and competences to come up with your fertile ground.
Competences
Personal interest
Competitive advantage
Ambitions
No rush! It’s a difficult exercise. Keep calm & take a moment to do it.
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Helping people create businesses
Organizing motorcycling
tours
Be in the wine
business
EXAMPLE OF A BUSIENSS ANGEL’S FERTILE GROUND MAP
IT IS NOT ALWAYS 100% CLEAR But you can have a feeling for it.
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C. 3 dimensions of a good business idea
Good match between
business idea and personal
ambition
Well Defined Personal
Aspirations
Proven Business
Model
3 DIMENSIONS OF A GOOD IDEA
IT IS NOT ALWAYS 100% CLEAR But you can have a feeling for it.
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Glad to see that you managed to compete this exercise! We know it’s a difficult one! If you were out of your comfort zone, it means you did it well. Feel free to share your feelings and questions on this methodology in the comment section. Jump to the next slide to follow the entrepreneurial process designed by Virtuology Academy.
D. Well done!
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The next step is to start using the DESIGN THINKING METHODOLOGY to identify problems inherent to your fertile ground. We designed a free presentation on this methodology for you!
Register here and we will inform you as soon as this presentation is released. Encourage us with a like on our Linkedin page J
Follow us for more insights on entrepreneurship (you can click on the icons)
D. Well done! Now what’s the Next Step?
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