Success in entrepreneurship, whether in creating a new venture or intrapreneuring within the organization, rests on many factors, the two most important of which are natural talent and skills. No matter what level of talent someone brings to their entrepreneurial enterprise, they can benefit from learning and improving their skills.
The skills that improve one’s chances of succeeding in entrepreneurship, like all skills, can be improved through learning and practice. In this workshop series, participants will learn by doing.
The course is structured in the same way as the entrepreneurial process itself, from idea generation and evaluation to creating a business model to negotiating and presenting to investors. Each workshop will be hands-on and interactive, as participants work through each stage in the process of creating a new venture.
By the end of the course, each participant will have developed certain skills to identify new ideas and opportunities that could form the seeds of a successful new business.
This first workshop begins by examining the risks and rewards of becoming an entrepreneur. It then covers the importance of failure for innovation and then practical steps one needs to take to start a business and to generate successful new business ideas.
Generating and evaluating new ideas are critical for continued innovation. There is a common perception that new idea generation happens almost magically and that it is impossible to evaluate the potential success of new ideas. In this workshop, participants will learn to generate their own new ideas and evaluate which ideas have the greatest chance of success.
Course Outline
Why Entrepreneurship?
- What is an entrepreneur?
- What are the qualities that make a successful entrepreneur?
- Why is entrepreneurship important to you?
- How can entrepreneurship be taught?
- The importance of failure for innovation
- What are the steps to success?
- What is the relationship between risk and return?
- Why innovation requires failure?
- Why sometimes failure itself is innovation?
- Why is failure necessary to achieve success?
- Why are people afraid to risk failure?
- How to not let fear stop you?
- Success from failure
Idea generation and evaluation
- Sources of new business ideas
- Characteristics of successful new business ideas
- Evaluating new ideas
- Assessing feasibility of a new venture
- Analyzing strengths and weaknesses
- Evaluating technical feasibility
- Evaluating marketability
- Do you have these critical success factors?
- Asking the right 10 questions about your idea
- Pitfalls in selecting new ventures
- Why do new ventures fail?
- Determinants of new venture failures
- Past and present trends and mega-trends
Experiential Exercises
Participants will generate several new business ideas and evaluate which ones are most likely to succeed using the idea generation and evaluation framework developed in the workshop.
Aspiring entrepreneurs who wish to start up their first ventures, as well as corporate managers and staff who wish to take up new venture creation and risk taking as a method and tool to sustain innovation and rejuvenation within the enterprise.
1 Day
Please contact NUS Extension for more details.
S$480.00 (Inclusive of GST)
NUS Extension (#12-01 Park Mall)
