is a key predictor of individual performance

Self- Efficacy
is related area that examines the ways that in entrepreneurial endeavors
individuals overcome obstacles in their attempt Achievement
to reach success. Individuals with a high need for cognition
2-ENTREPRENEURIAL MOTIVATION Cognitive Motivation
make better entrepreneurial decisions
is associated with an emphasis on individual
Individualism It is important for entrepreneurs to make
initiative and achievement.
Tolerance for ambiguity complex decisions quickly with limited
Autonomy is an individual’s belief about their level of information.
Control 1-ENTREPRENEURIAL MINDSET
freedom from the influence of others
Self-efficacy increases the individual’s confidence
Investing their attention, and processing information
Confidence in their subjective judgment about
efficiently,enables entrepreneurs to be decisive Focus
uncertain events
and thoughtful in their decisions
influence one’s ability to access information
team members, partners, and investors may share
Interpersonal Skills that facilitates discovery of entrepreneurial
in the enthusiasm and excitement of the entrepreneur, Optimism
opportunities
if the entrepreneur is optimistic. 3-ENTREPRENEURIAL BEHAVIOUR
People with rich social capital are better informed,
Are there enough people who care about Social Capital more creative,more efficient, and better problem
this problem for you to be financially successful Problem solvers.
by solving the problem?
is conceptualized based on the individual
How are these customer values met by current Risk Tolerance entrepreneur’s assessment of risk and
Solution
and expected competitors? uncertainty in a decision.
9- OPPORTUNITY IDENTIFICATION
How easily can a competitor copy or exceed
Advantage can create entirely new markets. The
your resources, know-how, relationships, etc.?
larger the technical change, the greater
Technical
A complementary team brings increased the opportunity for new businesses to
competencies and greater knowledge than a single Team be created
individual.
opens up new businesses by
altering people’s preferences and
Societal
creating demand for things where demand
8- VALUE CURVE had not existed before.

Do you have a faster, better, and/or cheaper solution

The Opportunity Analysis Canvas Demographic
A shift in perception or demand opens
4- MACROECONOMIC CHANGES entrepreneurial opportunities
that makes competitors’ features,relationships, Eliminate
locations,etc. less valuable? examines shifts in attitudes, values,
PSychographic opinions,interests, and related
reductions present an opportunityto be more efficient personal factors of market
Reduce
and effective than competitors
can introduce opportunities or challenges
Raising these high-value factors differentiates you Political
for entrepreneurial ventures
from competitors and improves your competitive Raise
advantage. Deregulation may reduce bureaucratic
Regulatory barriers and obstacles to creating
are there opportunities to create new factors that new businesses.
Create
will satisfy customers in new ways?

6- INDUSTRY STATUS
7- COMPETITION address the amount and type of knowledge
Knowledge that is required to create and deliver the
Learning Curve
industry’s products or services.
Lifecycle Structure 5-INDUSTRY CONDITIONS
influenced by what you know today, as well your interests, you need to introduce a product or service
commitment, and resources to learn new things in the future. Demand that satisfies customer needs in a better way
than competitors,
Assets (1) young and emerging

tangible (2) middle-aged level, and predictable refers to the nature of barriers to entry and competitive dynamics
money, equipment, real estate, etc
within the industry, with an emphasis on capital intensity,
intangible (3) old and declining. advertising intensity,company concentration, and average company size.
knowledge, relationships, brands
Reputation

If the reputation of competitors is positive, be

sure that you invest in branding your company
and its products.