Reference no: EM133539327

The art of entrepreneurship: Julie Meyer at TEDxSalford, Julie Meyer describes misunderstood concepts, missing narratives, or key concepts that are important for entrepreneurs to understand if the goal is to create the next life-changing business and these are listed below:

Julie Meyer believes that a misunderstood concept is that you must have money to start a business. Julie Meyer insists that capital follows money; money follows ideas.
Julie Meyer states that some people think that technology is a niche industry for people who like technology. Julie Meyer insists that technology creates prosperity and that it is a key driver of change.
Julie Meyer believes that a business revolution starts as a small fact with big promise and moves to a significant force in the market and may not initially appear as a big idea.
Julie Meyer believes that a new common sense is emerging as a result of a process of constant change. She believes that it is not a loss but "an expanding pie."
Julie Meyer believes the biggest advantage that big corporations have is distribution systems, audience, scale, and reach and that they need to be enablers for digital entrepreneurs to remain on the high growth highway.
Julie Meyer believes technology & finance are service industries to industry. She believes that innovation is about economics.
Julie Meyer believes that entrepreneurs must leverage network benefits. She states that network benefits accrue to those firms who understand their role in their ecosystem and organize the economics for it.
From the list above, choose one concept to discuss. Your discussion must explain how this concept will influence your ability to recognize a good business idea and opportunity. Your discussion should include an explanation of the concept, a clear indication that you agree or disagree with the concept, and an example of a company that proves the concept if you agree or disproves the concept if you disagree. Conclude your discussion by explaining the impact of your reflection on this concept in recognizing a good business idea and opportunity.