The document discusses national retraining in entrepreneurship in Zambia, with the goal of teaching business creation skills and creative thinking to enable learners to start their own businesses and create jobs. It defines entrepreneurship and the difference between dreamers and entrepreneurs, and provides methods for generating, assessing, and developing business ideas, including brainstorming, market research, and evaluation techniques like scoring and PMI analysis.

1. NATIONAL RETRAINING IN
ENTREPRENEURSHIP
CHABU B.K
BUSINESS IDEA AND
OPPORTUNITY RECOGNITION

2. INTRODUCTION
Every person has ideas and aspiration to have all
the material needs that his/her heart craves for.
Unfortunately, the majority of us don’t go beyond
our dreams. Why?
 Most of us are comfortable with our day-dreaming
and make no effort further than that
 Perhaps we are “sinners” who have buried God’s
talents
 May be we are afraid of trying
 Some of us may be waiting for a miracle (heaps of
money from heaven) to implement our dreams
What ever the reason may be, know that the
prospect is always available for anyone who
wishes to get it.

3. PURPOSE OF SIE
To instil business creation skills and creative
thinking abilities in the learners to enable
them contribute meaningfully in the dynamic
and competitive global economy and that they
may create employment for themselves and
others in view of the limited job opportunities
in the formal sector in Zambia.

4. ENTREPRENEURSHIP
Definition:
 initiating, doing, achieving and building an
enterprise or organisation
 instinct of sensing an opportunity where others
see nothing
 ability to assemble a founding team to
complement one’s own skills and talents.
 Ability to find, marshal and control resources and
to make sure one does not run out of them when
most needed.
 the willingness to take calculated risks, both
personal and financial, and then to do everything
possible to get the odds in your favour

5. PURPOSE OF
ENTREPRENEURSHIP
To:
 Create wealth for an individual, group, or
community
 Better the wellbeing of a person, group, or
community
 Meeting one’s, group’s, or community’s
aspirations
* It is not for “life as usual”

6. DREAMERS VERSES
ENTREPRNEURS
DAY DREAMERS ENTREPRENEURS
End at having an idea Turn ideas into ends
Die with their ideas Their ideas live long after
they are gone
Fantasize their ideas Act on their ideas
Jump at first flash of
idea
Examine ideas and strategies
Not adventurous Adventurous

7. KEY CONCEPTS
BUSINESS IDEA:
 A thought/concept about a business venture which could bring-in
profits
 A mental picture or vision about a singled out kind of business
venture with a view of making profits
OPPORTUNITY:
 A time, chance, or condition of things favorable to an end or
purpose, or admitting of something being done or effected
BUSINESS OPPORTUNITY:
 a chance or condition favorable for one to make profits
OPPORTUNITY RECOGNITION:
Process of seeing possibilities for new profit potential through
(a) the founding a new business, or (b) improving an existing one

8. ACTIVITY 1: Spot hidden words in the puzzle.
Make one sentences from these words. (15
minutes)
X H J P C A K N U G V I
S D A Y D R B A M E R L
T V A R U Z E L F S T T
I P X V D A K A R I U D
D Q K L N R Y U T O K W
L G L M O S L N Y I X Q
Y I Z W C Y O R H N V I
W S V E R D K T K F B E

9. ACTIVITY 2:
Think about the crack in your wall. List
not less than ten types of businesses that
may come about as a result of the crack.

10. SOURCES OF BUSINESS
IDEAS
 own skills and talents (e.g. drawing, sport,
sight seeing, preaching etc)
 work experiences, especially in the same line
of business (e.g lawyer)
 Unsolved problems or challenges (e.g.
HIV/AIDS)
 Unsatisfied demands (e.g. university degree)
 already developed ideas and products or
services
 current events or changes (e.g drought may
necessitated supply of irrigation equipment)

11. SOURCES OF BUSINESS
IDEAS ctd
 new knowledge and new technology (e.g.
computer age has stimulated invention of
C.Ds, iPods, cell-phones etc.)
 new laws and regulations (e.g. ban on
unleaded fuel)
 development of new markets (e.g. used cars
from Japan to Africa)
 Change in taste and habits (e.g. demand for
organically grown foods)
 available natural resources (e.g. Fish, sand,
clay, minerals, forests etc)

12. POSITIVE FACTORS FOR IDEA
GENERATION
Creativity:
 Being creative
 The ability to use imagination to develop new and
original ideas
Innovativeness:
 Being able to turn ideas into final or semi-final
products or services.
Experience:
 Experience broadens one’s knowledge and skills
Research:
 Information searching and gathering is one sure
way of gaining experiences in a shorter time

13. PROCESS OF OPPORTUNITY
RECOGNITON
Idea clicks
on mind
Potential
opportunity
seen
Idea examined
and weighed
against
alternatives
Business
prospect proved.
Business
venture starts

14. STEPS IN BUSINESS IDEA
DEVELOPMENT
1. Brainstorm to list several business ideas
2. Get rid of unnecessary ideas by sorting
3. Assess the remaining ideas using different
methods: anonymous voting, PMI, scoring
for the suitable idea etc
4. Consider other alternatives to your chosen
idea
5. Conduct market research on the idea agreed
on
6. Refine the idea to suit marketing needs
7. (conduct further market research on the
refined idea)
8. Write a business plan or implement idea

15. METHODS OF ASSESSING
BUSINESS IDEAS
1. Anonymous voting :
RANK IDEA
A
B
C
D

16. METHODS OF ASSESSING
BUSINESS IDEAS (ctd)
2. Scoring the suitability of business ideas :
Scoring business ideas
Question BI1 BI2 BI3 BI4
Are you familiar with the operations of this type of
business?
Does the business meet your investment goals?
Does the business meet your income goals?
Will the business generate sufficient profits?
Is the business free of illegalities?
Total scores

17. METHODS OF ASSESSING
BUSINESS IDEAS (ctd)
3. PLUS, MINUS, INTEREST METHOD:
PLUS MINUS INTEREST
+ SCORES - SCORES + AND - SCORES

18. ACTIVITY 3 ( 30 MINUTES)
CONDUCT A PMI EVALUATION ON A
BUSINESS IDEA OF YOUR CHOICE AS A
GROUP.