PART 1: VENTURE OPPORTUNITY, CONCEPT AND STRATEGY

Question 1: Describe the opportunity that attracts you and why you think it is a new venture opportunity.

Opportunity is a condition that can benefit or bring success to an emerging or established to be taken immediately. Opportunities are usually approaching a person in a state of vague and uncertain. Someone who is competent and willing only to be nabbed opportunities that exist in front of him. Slow grab the opportunity to escape to the hands of others.

Every business starts out opportunities that can be identified and taken the opportunity to be developed. The existence of a business opportunity to offer products in a given market depends on changes and trends in environmental …show more content…

ix. It increases the chances for the success of your effort. For all of the above reasons, identifying stakeholders and responding to their concerns makes it far more likely that your effort will have both the community support it needs and the appropriate focus to be effective.

Question 4: Describe the passion and commitment you have for the opportunity.

To succeed, startup founders need passion and commitment – together these make the drive to succeed. But those are not the same, and materialize in different kind of decisions and choices, which lead to different kind of result. What make things hard for outsiders, is the fact that these two factors are extremely close and hard to identify from each other. In a startup environment being too passionate can kill your startup – being too committed can kill the entrepreneur.
We need to identify these from each other because if there is not enough of both present in a startup, startup‘s chances to succeed are substantially reduced. As a mentor or investor you need to understand the areas where you can help guide and strengthen the team. It is important for a startup to understand its team’s weaknesses and development areas – if you are not able to identify the “customers” problem you are not able to fix it.

Passion is extremely good driving force,