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Intuition Isn't Enough for Entrepreneurs

Sharon Alvarez Kathleen Allen Lars Oddsson

by Sharon Alvarez, Kathleen Allen and Lars Oddsson

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Entrepreneurial legends like Steve Jobs -- who created blockbuster products without asking anyone if they wanted them – anticipated the market. Many other entrepreneurs have great ideas that never amount to anything. While it would be easy to take the Steve Jobs example and suggest that the most successful entrepreneurs are superheroes with X-ray vision, we know from our research that these apparent acts of intuition are the result of human beings who know how to listen to the market, at times anticipate the market, experiment, make mistakes, sometimes change directions, and sometimes persist with a course of action. In this discussion, the University of Minnesota's Lars Oddsson, University of Denver's Sharon Alvarez and USC's Kathleen Allen talk about the interplay between action and inspiration.

 

Sharon Alvarez
Sharon Alvarez
Professor of Organizations and Entrepreneurship, Tom W. Olof / Joseph M. Katz Graduate School of Business / University of Pittsburgh
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Kathleen Allen
Kathleen Allen
Professor / Entrepreneurship / University of Southern California
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Lars Oddsson
Lars Oddsson
CTO/Co-Founder, Adjunct Professor / Rehabilitation Sciences & Technological Leadership Institute / U of MN & RxFunction Inc.
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Cite this Article

DOI: 10.17919/X9ZP4K
Alvarez, S., Allen, K., & Oddsson, L. (2016, November 8). Intuition isn't enough for entrepreneurs. Entrepreneur & Innovation Exchange. Retrieved April 4, 2025, from https://eiexchange.com/content/238-intuition-isnt-enough-for-entrepreneurs
Alvarez, Sharon, Kathleen Allen, and Lars Oddsson. "Intuition Isn't Enough for Entrepreneurs" Entrepreneur & Innovation Exchange. 8 Nov. 2016. Web 4 Apr. 2025 <https://eiexchange.com/content/238-intuition-isnt-enough-for-entrepreneurs>.

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Copa Di Vino

http://www.copadivino.com/

Shark Tank is a popular resource for many entrepreneurship educators. While there are a number of outstanding episodes that can be used in the classroom, there are is a two episode arc focused on Copa Di Vino, a winery that produces and distributes wines in a unique portable packaging. I find these episodes especially useful in teaching concepts related to understanding your business model, the value of IP, and the role of investors. The first episode is episode 205 during season 2 of Shark Tank. The second episode is episode 308 in season 3. These episodes are legitimately available, for a fee, for high quality streaming from sites such as Amazon.com and Hulu. The content can sometimes be found on sites such as Youtube, although the copies on these sites are not generally in adherence with copyright laws and the quality can be inconsistent. Resources – Copa Di Vino Website http://www.copadivino.com/ ABC News Report on Shark Tank Missing the Investment - http://abcnews.go.com/Business/multi-million-dollar-product-shark-tank/story?id=23051424 Amazon.com Link Season 2 https://www.amazon.com/Week-1/dp/B0050JQJ56/ref=sr_1_5?ie=UTF8&qid=1473518622&sr=8-5&keywords=shark+tank Season 3 https://www.amazon.com/gp/product/B0070YR5Z2?ref_=aiv_dp_season_select

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