When is an idea an opportunity?
An idea is an opportunity when it is attractive, durable and timely and is anchored in a product or service that creates or adds value for its end buyer or user. The most successful entrepreneurs are opportunity-focused; that is, they start with what customers and the marketplace want and do not lose sight of this.
Quotes from “New Venture Creation,” 2004, by Timmons and Spinelli

You have a chance
Don’t think you can’t possibly compete with large, multibillion dollar players. The high-tech industry welcomes small business like no other. The performance of smaller firms in technological innovation is remarkable—95% of the radical innovations since WWII have come from new small firms. A National Science Foundation study found that smaller firms generated 24 times more innovations per research and development dollar than firms with 10,000 or more employees.

New venture realities

• Success is highly situational
• Starting a company is a lot harder than it looks, or you think it will be.
• Most new ventures are works in process.
• Speed, adroitness of reflex, and adaptability are crucial.
• The key to succeeding is failing quickly and recouping quickly.
• The best entrepreneurs specialize in making “new mistakes” only.