Presentation for the subject Entrepreneurship

1. ENTREPRENEURSHIP
WEEK3

2. Review:
• What was our topic last week
all about?
• Why do we need to know those
factors affecting Entrepreneurship?

4. Activity
• Choose a secretary and a leader to
facilitate the group sharing or
discussion
• Identify the potential needs and
problems from the industry/market
given
• After 15 minutes, report your
output.

5. What is Potential Market?
According to monash.edu, Potential Market are all
individual and organizations in a particular market
who have some level of interest in the product.
Recognizing a potential market will guide you to
identify the market problems to be solved or the
market needs to be met.

6. How to recognize a
Potential Market?
• Recognizing a potential market is a crucial
step in entrepreneurship and business
development. Here are five steps to help
you identify and assess a potential market:
1. Market Research
2. Validation
3. Market Segmentation
4. Trends and Opportunities
5. Financial Analysis

7. Market
Research
• Identify a Niche or Problem: Start by
identifying a niche or a specific problem
that needs solving. This could be based
on your own interests, expertise, or gaps
you've noticed in the market.
• Competitor Analysis: Research your
competitors in the potential market.
Understand their strengths, weaknesses,
and market share. This will give you
insights into the existing demand and
competition.

8. Market
Research
• Customer Profiling: Create detailed
customer personas to understand the
demographics, psychographics, and
behaviors of your target audience. This
helps in tailoring your product or service
to meet their needs.
• Market Size and Growth: Analyze the
size and growth potential of the market.
Look at historical data and future
projections to gauge whether the market
is expanding, contracting, or stable.

9. Validation
Minimum Viable Product
(MVP): Develop a minimum
viable product or prototype to
test your concept in the market.
Collect feedback from potential
customers to validate whether
there is real demand for your
offering.
Pilot Testing: Conduct pilot
tests or small-scale launches to
observe how the market
responds. Monitor key metrics
like sales, customer feedback,
and user engagement.

10. Market
Segmentation
• Segment the Market: Divide the market
into segments based on factors like age,
gender, income, geography, and
preferences. This helps you target
specific groups effectively.
• Identify Target Segments: Determine
which segments align best with your
product or service. Focus your marketing
and resources on those segments with
the highest potential for success.

11. Trends and
Opportunities
• Industry Trends: Stay updated on
industry trends and emerging
technologies that could impact the
market. Being aware of shifts in
consumer behavior and preferences is
essential.
• Gap Analysis: Identify gaps or unmet
needs within the market. These gaps
can present opportunities for innovation
and differentiation.

12. Financial
Analysis
• Profitability Assessment: Estimate the
potential revenue and profitability of your
venture in the identified market. Consider
factors like pricing, cost structure, and
sales volume.
• Risk Assessment: Evaluate the risks
associated with entering the market,
including regulatory, competitive, and
economic factors. Assess whether the
potential rewards outweigh the risks.

13. Essentials in Entrepreneur’s Opportunity Seeking
ENTREPRENEURIAL
MIND FRAME
ENTREPRENEURIAL
HEART FLAME
ENTREPRENEURIAL
GUT GAME

14. Entrepreneurial
Mind Frame
• This allows
entrepreneur to see
things in a very
positive and optimistic
way….

15. Entrepreneurial
Heart Flame
• Entrepreneur’s driven
passion, they are
attracted to discover
satisfaction in the act
and process of delivery

16. Entrepreneurial Gut
Game
• This refers to the ability of the
entrepreneur of being
intuitive. This also known as
intuition.

17. Sources of
Opportunities
Changes in the
environment
Technological discovery
and advancement
Government’s trust and
program policies
People’s Interest
Past Experiences

18. Forces of
Competition
Model
Buyers
Potential New Entrants
Rivalry among existing
firms
Substitute Products
Supplier