Entrepreneurship

Opportunities based on a paradigm shift mean that opportunity exists because of both anew market and a new product. A paradigm shift is a fundamental change that changesthe way people behave and business is done.

Examples for how a paradigm shift has creatednew industries are the semiconductor industry in the 70s, the personal computer industryin the 80s and the internet industry in the 90s.

Examples of such companies are Netscape and Amazon.com. The early companies in a new market face a tremendous challenge.They have to cause a behavior that does not exist today to come into existence and tobecome popular.

Trying to create a market is a very difficult challenge. Especially if his is your first time around. lt is an incredible thing todo a market where there are no models.

For that reason it is dijficult to attract investors, to attractcustomers because they are not used to paying what you are providing

new product or new business model in an existing market

There is a problern that is very pressing, painful, and when you inject a solution into that market, the market ignites. Suddenly there is a solution space and the product gets consumed in huge amounts because there had been latent demand in the market. 

Here opportunity exists because of an existing but improved product in an ex1stmg market. The product is usually faster, eheaper or better. Successful me-too products are usually superior in an order of magnitude in one of these dimensions.

Markets that change

Markets that are badly understood

Markets that are large

Markets that are fast growing

Markets where the Incumbent Players cannot move

Markets where there is little Competition