ABSTRACT
This chapter discusses the importance of considering several market opportunities and describes the difference in the evaluation criteria that experienced versus inexperienced entrepreneurs use for assessing business opportunities. The chapter presents the bowling alley as a way of conceptualising company development over time and as a metaphor for finding your first customers. Research shows that an entrepreneur can significantly enhance his or her success in identifying a good application by looking broadly and identifying multiple potential product applications first. This process prevents gravitation to the most obvious application. Often entrepreneurs underestimate the risk involved and time required to turn their technology into a working prototype that can satisfy customer needs and is ready for production. Lead customers are innovative and venturesome. These customers are willing to invest serious time, money and effort to help an entrepreneur develop an application and tune it to their needs.
