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The Difference in Ideas & Opportunities

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’m going to let you in on a little secret. Contrary to what many aspiring entrepreneurs believe, the key to a successful startup does not rest upon having a unique, one-of-a-kind idea.

Don’t get me wrong. A good idea is a necessary starting point for any new business, but that’s all it is. Ideas are not scarce: they’re commodities. Virtually any idea worth pursuing has already been done. What is rare, on the other hand, is the ability to execute an idea and turn it into a profitable business. That’s why so many startups fail year after year.

So what distinguishes an attractive opportunity from a mere idea? First, opportunities are driven by customer need. The entrepreneur has identified a set of customers who can be served profitably. The economics of the business are favorable, and it has the ability to generate significant cash flows in a relatively short period of time. Second, the opportunity is closely aligned with the entrepreneur’s personal interests and skill set. Third, the entrepreneur is able to leverage proprietary knowledge or relationships to gain a competitive advantage over rivals. Finally, the timing of the opportunity has to be right.

About Dr. Michael Burcham

Michael is an executive coach, entrepreneur, investor, and strategist with 30 years of experience leading investor-backed, high-growth organizations.

“I built and sold a $40M company with Dr. Burcham as my mentor. This is the thing: if you EVER get the opportunity to learn from this man, from that moment forward, you’ll list him as one of the most influential people in your life, even if you live to be 90. And, you’ll know how lucky you were to have that opportunity and you’ll immediately say YES to any chance to be in his presence again—his wisdom is that impactful.”

Sherry Stewart Deutschmann

Former CEO, Letter Logic

“If you are looking for a trusted mentor and coach for yourself or your leadership team, I highly recommend Michael Burcham. He has worked with me as my executive coach for well over a decade now. Our conversations and his feedback have helped me sharpen my critical thinking skills. He’s a trusted advisor that I can confidentially speak with about any issue—and I know I’ll get valued feedback. I highly recommend him.”

Ryan McGrath

CEO, Asset Living

“Dr. Burcham’s depth and breadth of experience makes even the most ADD entrepreneurial leader sit up and take notes! His coaching skills bring out the ‘best you’ possible. He selflessly shares the good, the bad, and the ugly—leaving you with an authentic and moving experience sure to spur action and professional growth!”

Julie Lenzer

Director, U.S. Department of Commerce

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Looking for a professional development coach or a career change?

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Wanting to build engagement around innovation or teach your team to build investor value?

If you are ready to develop winning strategies, contact me today to schedule a confidential discussion.

Contact Michael