Concrete Experience

During this week’s study, I began to think deeply about how to apply the tools I learned to future entrepreneurial projects. Through the Timmons model and the five-step opportunity assessment method, I learned how to identify and evaluate entrepreneurial opportunities. At the same time, I also realised that these methods could help me make better decisions and resource allocation in the future in the venture capital industry or innovation management field. After class, I tried to apply these tools to the entrepreneurial direction I was interested in. Furthermore, our group also began to write a project brief. Its main content includes user pain points and preliminary role allocation plans.

Reflective Observation

I realised that the essence of entrepreneurship is not just about generating “interesting ideas”, but more importantly, discovering opportunities through structured analysis. In the future, through my understanding of the Timmons model, I will pay more attention to how to reasonably evaluate the team’s capabilities, resource acquisition, and market opportunity matching in a dynamic environment in my career (Teece, 2016). Through this reflection, I also realised that creative evaluation should be carried out from multiple perspectives. This is particularly important for future strategic decision-making and innovation management. However, our understanding of technology trends is still relatively superficial. For example, we proposed the “AI + Sustainable Outfit Recommendation System”. Although the direction is reasonable, it lacks in-depth research on user needs and feasibility demonstration.

Abstract Conceptualisation

Through this experience, I realised that opportunity identification in entrepreneurship should be based on structured analysis. The three elements emphasised by the Timmons model (opportunity, resources, and team) made me realise that inspiration alone cannot support a sustainable business model (Teece, 2016). The “Sweet Spot Model” inspired me to think about how to align with team goals based on my advantages. This reflects the concept of “complementary team” emphasised by Belbin (2022). On this basis, I realised that the use of tools cannot remain in “form” but should be transformed into a real decision-making basis and execution strategy. The “Six Thinking Hats” made me realise that creative evaluation should start from multiple thinking dimensions. This includes emotions, logic, creativity, risks, etc. (Gill-Simmen, 2020). This can avoid misjudgements caused by a single cognitive perspective.

Active Experimentation

Next, I plan to conduct an in-depth study on “AI and sustainable consumption behaviour” and design a scoring standard based on the five-step evaluation method. This can guide the team to select the most promising MVP concept. In team meetings, I will try to introduce the “six thinking hats” model to guide discussions and improve decision-making quality. At the same time, I will push the team to convert the Sweet Spot analysis results into an actual division of labour table. We will clarify who is responsible for technical research, business models and other tasks. This will help improve execution efficiency and team collaboration quality.