First-time entrepreneurs spend significant time in opportunity identification. They want to know which markets, sectors, and customer segments to pursue. Business ideas for entrepreneurs come from various sources – work, friends, family – even graduate school!
Back in 2009, I taught an elective course on Technology in Finance at SIBM in Pune and used this compilation of the slides for the semester-long course.Ideas-for-Entrepreneurs-Technology-in-Financial-Markets
I covered concepts such as IT infrastructure at stock exchanges, algorithmic trading, direct market access, market crashes, etc. Ideas for entrepreneurs need not come only via elective courses on startups and venture capital. They can also come through discussions on finance, sales, marketing, and business strategy.
For example, capital markets are a rich source of startup opportunities. Algorithmic trading is capturing an increasing share of the trading pie.
Moreover, with the maturation of AI/ML technologies, there is rapid growth in the pool of ideas for finance entrepreneurs. The rapidly reducing cost of cloud storage and compute technology are accelerating entrepreneurship in capital markets.
Thus, business ideas for entrepreneurs are in constant creation. Perceptive founders identify and pursue such opportunities. Of course, not all ideas need to be centered around technology. Equally compelling ventures can be built around new business models and go-to-market strategies. Additionally, entrepreneurs need not always create new ventures. Entrepreneurial behavior can be demonstrated in social, corporate, and educational contexts as well. Similarly, founders sometimes focus so much on technology that they miss innovating on the sales and marketing fronts. An example of the latter is innovation in personal finance apps for Millennials.
Finally, entrepreneurial ideas often turn up in the midst of financial crises. Many unicorn startups were founded during the 2001-2003 and 2008-2009 recessions. The constraints of capital and job opportunities can spur entrepreneurs to identify compelling business opportunities. As expected, cost savings are a key driver of ideas spawned during economically difficult times.