entrepreneurship

1. Search for Business
Opportunity, Ideation,
Innovation and Creativity

2. In the Search for Business
Opportunity.
The Following Factors on Resources
have to be evaluated:

3. 1. Market
This refers to the numbers of
prospective buyers, the price, and the
quality of goods and services that have
to analysed. Business opportunities exist
in areas where consumer satisfaction is
weak or incomplete.

4. 2. Individual Interest
Business interest of individuals
should match business
opportunities.
For example, if one is a good
cook, he should venture in the
food business.

5. 3. Capital
This serves as the fuel that keeps
the business operating. The
availability of funds should fit the
type of business to organze.

6. 4. Skills
The Entrepreneur should have
the proper skills in the business
he going to undertake.

7. 5. Supplier of Inputs
It is important that there are
steady suppliers of raw materials
and other inputs to the business.

8. 6. Manpower
The success of any business also
depends on the efficiency of its
employee

9. 7. Technology
Entrepreneurs should be aware of
the presence of technology to
improve their products or services,
or introduce new innovation in the
market.

10. Among the productive resources, people
are the most important because they are
the ones who organize and manage the
other productive resources such as
money, materials, machine, and
manpower.

11. Other opportunity-seeking process that can be a
guide a prospective entrepreneur:
Look at the other successful
business/entrepreneurs.
Respond to a problem area
Home-Based Business Option
Linkage of Resources