The Opportunity Analysis Canvas

While confidence helps entrepreneurs to successfully face the multiple hurdles of starting and managing a venture, overconfidence explains why most new ventures fail.

The Guanxi approach to cultivating relationships includes developing personal contacts with key individuals, and developing and maintaining a broad network of positive relationships.

Drucker (1985) classifies entrepreneurial opportunities into three categories: “(1) the creation of new information, as occurs in the invention of new technologies; (2) the exploitations of market inefficiencies that result from information asymmetry, as occurs across time and geography; and (3) the reaction to shifts in the relative costs and benefits of alternative uses for resources, as occurs with political, regulatory, or demographic changes.”