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opportunity recognition and evaluation (investors will look at the…
opportunity recognition and evaluation
viable & valuable
valuable business opportunity
a perceived means of generating economic value that has not previously been explore and are not currently being exploited by others and meets a need or desire
viable business opportunity
the entrepreneur will have to use their cognitive abilities and develop objectively in order to be able yo recognize and deal with risks in their pursuit of the most viable business opportunity
central characteristics of opportunity
potential economic value
perceived desirability
newness
foundations of opportunity recognition and evaluation
cognitive approach
cognitive biases and heuristics
risk perceptions
choosing weather or not an idea is viable involves judgement made under conditions of uncertainty
influenced by biases such as
over confidence
planing fallacy
belief in the of small numbers
illusion of control
venture capitalists' evaluation criteria for new ventures
potential growth in the target market
demonstrated market acceptance
chance of 10X return
entrepreneur's ability to react well to risk
investors will look at the following when considering new venture proposals
good management team
proprietary product or service
marketability
personal commitment and involvement of the entrepreneur
openness and honesty
realistic financials
exit plan
return date on investment
intellectual property
opportunity assessment and screening