Topic notes
A venture journey moves from opportunity recognition and idea screening through feasibility, planning, resource arrangement, launch and learning. Feedback can change the model; test assumptions before committing resources.
Applied example
Before renting a shop, test the customer problem, willingness to pay, legal requirements, costs and supply assumptions.
Case study and practice
- Identify the opportunity or business issue.
- Name one assumption and evidence that could test it.
- Recommend an action, explaining its expected value and one risk.
Revision
Use an example, define the business term and distinguish assumption from evidence. Project claims should be based on research and cited sources.