Entrepreneurship with Peter Christo
Unleashing the Entrepreneurial Spirit: Stories of Transformation
Website : https://entrepreneurship.au
Last Episode : September 22, 2023 1:37am
Last Scanned : 5 minutes ago
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Confirmed 2#006 So what do you think of my business idea? by Peter Christo
https://entrepreneurship.au/wp-content/uploads/2023/09/006-So-what-do-you-think-of-my-business-idea_2023.09.22-PROD.mp3 In this podcast episode titled "#006 What do you think of my business idea?", the focus is on "Opportunity Evaluation" or OpEval—a systematic approach to assessing a business venture's viability and potential success. Peter outlines the different stages from conceptualising an idea to generating revenue. According to the host, while many individuals harbour business ideas, only a fraction of those ideas transform into funded start-ups. The host urges aspiring entrepreneurs to pen down their ideas in a one-pager, detailing various aspects of the potential business, including its problem-solving ability, market size, and potential revenue streams.Peter highlights that what separates a good business idea from just an idea is the effort to quantify and document it. He underscores that it's not enough to have a business idea merely; one needs the entrepreneurial skills to see it through. The host also emphasises that ideas often evolve significantly as they progress through the development stages, and it's essential to reassess them regularly.Lastly, Peter discusses the importance of considering personal circumstances and seeking appropriate guidance before embarking on a new venture. Offering avenues for guidance, including his own advisory services, he encourages listeners to take the initial steps to validate their business ideas, thereby saving not just money, but precious time.
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