ABSTRACT

What comes fi rst: The business idea or a decision to start a business? ................................25 Where entrepreneurs fi nd their business ideas .......................................................................25 Examples of successful startups that changed their strategies,

markets, or direction ........................................................................................................... 27 Should you rush to reduce your idea to practice just to fi le a patent? .................................28 Most common problems with new business ideas ................................................................. 29 Where to go to research the market, competitors, industries, and intellectual

property in your fi eld or product .....................................................................................30 Steps to preparing a business concept summary ....................................................................33

An entrepreneur is “someone who perceives an opportunity and creates an organization to pursue it,” said Professor William Bygrave of Babson College and Charles Hofer of the University of Louisville. Steve Jobs, Chief Executive Offi cer (CEO) of Apple and Pixar, is renowned for his hands-on approach to identifying and championing new ideas for Apple

such as the line of new Mac computers, the iPod, and the iPhone. Many industry watchers attribute Apple’s recent turnaround and Pixar’s huge successes in digital animation to Jobs’ ability to recognize ideas to meet consumer demands.