Tv Guide Game

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go ahead and introduce Whoozit which in my mind will be a mistake. He may be able to recover cost but it won’t be a blockbuster like his previous game. Reiss himself realized that trivia games were a fad. The 1984 Christmas season indicated the end or near end of the trivia game "fad" and it was no longer a novelty which is required for Games.

Learnings for today: Young entrepreneurs or companies need not always focus on “invention” and might be very successful if they are innovative in transplanting ideas from one product market to the next, or one geographic market to the next as long as they are early adapter and do not follow the “me too syndrome”. Nimbleness and flexibility is essential for a transient product. And entrepreneurs are more suited than large companies to seize on short term opportunities. Venture in an area that one is familiar with. One of the key predictor of successful ventures is experience in the same domain and Reiss was able to leverage his past experience and contacts by sticking to his domain. “Chance favors the prepared mind”. Entrepreneurs need to maintain relationship and contacts and be good at selling- whether it’s a business plan, an idea or just their skills. As the case showed, it’s not that Reiss did not accept risk – a new venture always has some element of risk- but the case also showed how Reiss within the framework of available time mitigated, minimized and diversified his risks. These lines up what we discussed in class regarding management of risk versus risk taking – two completely different things.

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