a unique tool for identifying and analyzing entrepreneurial opportunities
For aspiring entrepreneurs, new approaches and tools are necessary to develop the ideas that can lead to successful companies and organizations of all types. The emergence of business model courses, tools, and competitions are a step in the right direction. The focus of these new activities is engaging aspiring entrepreneurs in customer discovery and developing and testing a business model canvas.
While this is a viable approach and valuable lesson in entrepreneurship education, business models only begin to take shape when a new venture idea is formulated. Customer discovery requires having a product or service concept in the mind of the entrepreneur. Without the idea for the product or service itself, no business model nor customer discovery can begin.
It is this first step, the idea generation step, that the Opportunity Analysis Canvas fulfills. The Opportunity Analysis Canvas is an innovative tool for identifying and analyzing entrepreneurial ideas.