Abstract illustration representing design thinking and entrepreneurial opportunities.

Unlocking Entrepreneurial Success: How Design Thinking Can Help You Spot and Seize Opportunities

Lena Voss in Tech & Innovation December 2025 • 4 min read.

"Re-evaluating the Agent-Opportunity Nexus Through a Design Lens"

The pursuit of opportunities is central to entrepreneurship. Initially, research assumed that how opportunities arose had little impact on identifying and capitalizing on them. However, as studies delved into the specifics of opportunity identification, nuances emerged concerning how opportunities form and their mediating effects. This led to the divergence of views between 'discovery' and 'creation,' each with differing assumptions about the world.

The debate between discovery and creation has been primarily conceptual, with empirical investigation hampered by the challenge of distinguishing opportunities from non-opportunities. Calls for pragmatic, process-oriented methodologies have grown, aiming to reconcile these differing perspectives. Now, a new body of research suggests viewing opportunities as design artifacts that arise from a hierarchical entrepreneurial system, advocating for a design science approach to understand their artificiality.

In this design-centric view, an opportunity involves both discovery and creation, contingent on three conditions: existence and agent discovery, agent recognition and value realization, and market acknowledgment and value validation. While seemingly straightforward, this process lacks detail regarding the nature of opportunity, the agent's discovery process, value recognition, and the validation's significance. These unanswered questions are critical to fully understanding the design view of opportunities.

From Idea to Opportunity: The Fundamentals of Design Thinking in Entrepreneurship

Abstract illustration representing design thinking and entrepreneurial opportunities.

The traditional views of opportunity—discovery and creation—assume objective and subjective existences, respectively. The discovery view posits opportunities as objective states formed by market and technological shifts, awaiting perceptive agents. Conversely, the creation view sees opportunities as subjective states shaped by human action and cognitive abilities. Both perspectives agree that opportunity possesses intrinsic value, necessitating agency for any outcome. This mirrors design, where an agent acts to transform an existing situation into a desired one. Design seeks to align an artifact with its context, requiring agency as the main driver.

Opportunities emerge as byproducts of human ingenuity, stemming from an agent's ability to conceive an artifact. Artifacts are man-made objects with internal structure shaped by their environment. The interaction between an artifact and its environment defines opportunity design, as opportunities evolve with the artifact's adaptation. An artifact starts as a 'prospective artifact'—a blueprint designed to fulfill a purpose, contingent on the agent's rejection of the status quo.

Agent Dissatisfaction: An agent recognizes shortcomings in the current situation, sparking a desire for change.
Environmental Triggers: External events or challenges prompt the agent to explore the unknown between the current and intended states.
Artifact Reflection: The agent intentionally analyzes existing artifacts, dissecting their connections to users and the environment to identify potential improvements.

In the design view, identifying the initial conditions is crucial for understanding the agent-opportunity nexus. An agent recognizes the potential for change and envisions a prospective artifact, often spurred by environmental triggers. For instance, difficulty performing a task or the desire to enhance user experience can motivate artifact modification. Central to this process is the agent's reference to existing artifacts and their environments, using them as benchmarks while integrating disparate information to conceptualize the prospective artifact.

The Future of Opportunity: Design Thinking and Entrepreneurial Success

This study emphasizes the importance of human agency in design and, by extension, in recognizing and shaping opportunities. Opportunities are considered dynamic, incomplete, and continuously evolving. Studying an opportunity means understanding the process by which an artifact is created and adapted to achieve its goals. This approach addresses survivor bias and provides a foundation for future research into opportunity emergence and evolution, substantiating the design view of opportunities and advancing knowledge of opportunity identification and exploitation.

About this Article -

This article was crafted using a human-AI hybrid and collaborative approach. AI assisted our team with initial drafting, research insights, identifying key questions, and image generation. Our human editors guided topic selection, defined the angle, structured the content, ensured factual accuracy and relevance, refined the tone, and conducted thorough editing to deliver helpful, high-quality information.See our About page for more information.

This article is based on research published under:

DOI-LINK: 10.1016/j.jbvi.2018.e00108, Alternate LINK

Title: Understanding The Design Of Opportunities: Re-Evaluating The Agent-Opportunity Nexus Through A Design Lens

Subject: Management of Technology and Innovation

Journal: Journal of Business Venturing Insights

Publisher: Elsevier BV

Authors: Thomas Ding

Published: 2019-06-01

Everything You Need To Know

What are the key differences between the 'discovery' and 'creation' views of entrepreneurial opportunities?

The 'discovery' view considers opportunities as objective states arising from market or technological changes, waiting to be found. Conversely, the 'creation' view posits opportunities as subjective states shaped by human action and cognitive abilities. While both acknowledge the intrinsic value of opportunity, they differ on the opportunity's origin, with 'discovery' emphasizing external factors and 'creation' focusing on the agent's role in shaping the opportunity.

How does the design view reconcile the discovery and creation perspectives on opportunity?

The design view integrates both discovery and creation by viewing opportunities as design artifacts emerging from a hierarchical entrepreneurial system. This perspective suggests that an opportunity's realization depends on existence and agent discovery, agent recognition and value realization, and market acknowledgment and value validation. It bridges the gap by considering opportunities as evolving designs shaped by both external conditions and intentional human action.

What are the fundamental conditions that spark the design thinking process in identifying entrepreneurial opportunities?

The design thinking process in opportunity identification is initiated by three primary conditions. First, 'agent dissatisfaction' occurs when an agent identifies shortcomings in the current situation, driving a desire for change. Second, 'environmental triggers,' such as external events or challenges, prompt the agent to explore the unknown. Finally, 'artifact reflection' involves the agent intentionally analyzing existing artifacts and their environments to identify potential improvements.

What role does an 'artifact' play in the design view of entrepreneurial opportunities, and how does it evolve?

In the design view, an artifact is a man-made object with an internal structure shaped by its environment. It represents the tangible manifestation of an opportunity. The interaction between the artifact and its environment defines opportunity design, with opportunities evolving as the artifact adapts to better fit its context. The artifact begins as a 'prospective artifact,' a blueprint designed to fulfill a specific purpose, contingent on the agent's rejection of the status quo and their envisioning of a better state.

How does focusing on the 'agent-opportunity nexus' and artifact creation address limitations like survivor bias in entrepreneurial research?

By focusing on the 'agent-opportunity nexus' and the artifact creation process, research can study how artifacts are created and adapted to achieve specific goals. This approach allows for a deeper understanding of the dynamic and evolving nature of opportunities, moving beyond simply observing successful outcomes. It provides a foundation for future research into opportunity emergence and evolution, supporting the design view of opportunities and improving our knowledge of opportunity identification and exploitation, therefore mitigating survivor bias by examining the process, not just the result.