Thursday, July 13, 2017

New Venture Creation

The modern entrepreneurial concept of New Venture Creation can be broken down into 3 main components:  Discover, Ideation, Launch.  This framework follows the design process in the steps necessary for a successful project launch.  The most important of the three, I believe, is the Discover stage.

Recently, I was talking to the creators of a product to be used in classrooms with students.  After
(image:                                   reading some on the New Venture Creation model, I surprised myself when I questioned them about their discovery process...asking about how they did their market research and to what extent.  I was surprised to find that they had created their product and then took it to others to see if it would be something usable.  This seemed backwards to me after studying the modern concepts of entrepreneurism.

This Fall, I will be working with Real World Scholars ( to help my students build a business that will offer a service or product for those in the field of education.  What I have learned about the entrepreneurial process thus far should help me in working with my students as they go through the very important discovery phase of developing their business.  I am excited for sure!