Altitunes: From Imitation to Continuous Innovation

Altitunes: From Imitation to Continuous Innovation

You have probably heard of the line “If you build it, they will come,” from the 1989 movie Field of Dreams. That might work in the movie, but in the startup world it is often the opposite, “if you build it, they will not come.” One of the most common reasons for small business failure is starting a small business without evaluating the feasibility or the market readiness of the business idea in your local community.

Ideas for small business come from many potential sources, such as modeling a successful business located in another part of town, your work, a personal interest, a problem that you wanted to solve, or simply a conversation with your friends and family. Read the mini-case “Altitunes: From Imitation to Continuous Innovation” on page 103 of Katz & Green (2014). Consider what the lessons the case offers and how you might apply them in searching for and evaluating small business ideas.

To complete this Assignment:

• Present your analysis of how Amy Nye Wolf discovered her business opportunity.
• Examine how she evaluated whether or not the business opportunity was good for her local community.
• State your position on imitation as a strategy to start a small business. State your rationale and justify it with credible references.
• Identify at least three lessons the case offers that you could apply to your own journey to become a successful entrepreneur.

Include in your responses specific references to this week’s resources as well as other credible resources.

General Guidance on Assignment Length:Your Week 2 Assignment should be 2–3 pages