Opportunity Seeking In Entrepreneurship, Spotting Business Opportu...

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ENTREPRENEURSHIP 101 Sp tting and Actualizing Business Ideas and Opportunities April 21, 2011

What is an opportunity? <ul><li>In a business sense, it is an idea that has commercial potential. </li></ul><ul><li>Someth...

Keywords <ul><li>MBA – M y B ank A ccount </li></ul><ul><li>CHAMP </li></ul><ul><ul><li>C urrency </li></ul></ul><ul><u...

Challenging Topic <ul><li>How can we find business opportunities when we are in crisis? </li></ul><ul><li>Isn’t the Phili...

The Philippines <ul><li>There are nearly 100,000 OFWs in Taiwan. </li></ul><ul><ul><li>Many will lose their jobs because o...

Frequent Questions: <ul><li>How can we open new business in the Philippines? Aren’t we in crisis? </li></ul><ul><li>Haven’...

Answer: <ul><li>Really, we don’t know. </li></ul><ul><li>If we go through the process, maybe we will know. </li></ul><ul><...

Example: <ul><li>When there is a typhoon, what do you see? </li></ul>Flooding Stalled Vehicles Upper Respiratory Diseases ...

What don’t you see? Umbrellas and Raincoats for Sale Tulak Tirik Boys Andanyo Boys New Flood Control Projects Funeraria ...

<ul><li>Q: On this page, what do you see? </li></ul>

ANSWER: <ul><li>Nothing. Just a white page. </li></ul><ul><li>If that’s a market, that’s what an ordinary mind sees – a ...

The Entrepreneurial Mindset sees a hole! “ CHERCHEZ LE CRANEAU” An opportunity to be in that market.

Wei Ji

Shouldn’t we make it Ji Wei ? We look first at the opportunity, and yes, recognize that there is danger.

OPPORTUNITY SEEKING

The Entrepreneurial Mindset OPPORTUNITY SEIZING OPPORTUNITY SCREENING OPPORTUNITY SEEKING

OPPORTUNITY SEEKING <ul><li>Sources of Opportunity: </li></ul><ul><ul><li>Internal – Innovation / Creativity </li></ul></u...

Irritants in the Marketplace <ul><li>D – Deterrents, Delays </li></ul><ul><li>I – Irritants </li></ul><ul><li>P – Prob...

The Many Sources of Opportunity Macro- Environmental Sources Consumer Preferences, Piques & Perceptions Industry & Market ...

TOOLS – External / Environmental Analysis <ul><li>PESTE </li></ul><ul><li>PESTEL </li></ul><ul><li>EPISTE </li></ul><ul><l...

TOOLS – External / Environmental Analysis <ul><li>PESTE – Political, Economic, Social, Technological, Ecological </li></u...

OPPORTUNITY <ul><li>Issue of Relevance </li></ul><ul><ul><li>All of the Macro and Micro must be relevant / related to the ...

FOOD INDUSTRY <ul><li>Fresh Food (raw) </li></ul><ul><li>Packaged Food </li></ul><ul><li>Food eaten inside the house </li>...

Micro Market Analysis COMPETITION LOCATION CUSTOMER FGD, UAI Benchmarking, Competitor Research Traffic Count, Going to Off...

MARKET – Food Eaten Outside the House For your enterprise, what are the markets? Fine Dining Casual Fast Food Street Food ...

INNOVATION

Innovation – Mga Pagbabago <ul><li>Disruptive - nagbabago </li></ul><ul><ul><li>Social </li></ul></ul><ul><ul><ul><li>Food...

Innovation – Mga Pagbabago <ul><li>Disruptive – nagbabago </li></ul><ul><ul><li>Technology </li></ul></ul><ul><ul><ul><li>...

Innovation – Mga Pagbabago <ul><li>Disruptive – nagbabago </li></ul><ul><ul><li>Crisis </li></ul></ul><ul><ul><ul><li>As t...

Innovation (soft) <ul><li>What pisses you off? </li></ul><ul><li>What needs are not satisfied? </li></ul><ul><li>What are ...

Innovation (soft) <ul><li>BEFORE </li></ul><ul><ul><li>You can’t </li></ul></ul><ul><ul><li>Food eaten outside the house <...

Types of Product Innovation <ul><li>Create an entirely new product </li></ul><ul><li>Alter / modify an existing product </...

Internal / Personal <ul><li>Past jobs </li></ul><ul><li>Hobbies </li></ul><ul><li>Social network </li></ul><ul><li>Travel ...

Ways to Innovate <ul><li>Make it LARGER </li></ul><ul><ul><li>Pinakamalaki, pinakamalakas </li></ul></ul><ul><ul><li>Ex: <...

Ways to Innovate <ul><li>Modify – change the </li></ul><ul><ul><li>Name </li></ul></ul><ul><ul><li>Color </li></ul></ul><u...

Ways to Innovate <ul><li>Make it Stronger / Faster </li></ul><ul><ul><li>4x your daily calcium needs </li></ul></ul><ul><u...

Ways to Innovate <ul><li>Make it smaller / lighter </li></ul><ul><ul><li>Netbook </li></ul></ul><ul><ul><li>iPad </li></ul...

Ways to Innovate <ul><li>Substitute </li></ul><ul><ul><li>Materials </li></ul></ul><ul><ul><li>Methods </li></ul></ul>Bicy...

Materials <ul><li>Paper to plastic </li></ul><ul><li>Cork to plastic </li></ul><ul><li>Metal parts in cars to plastic – li...

Methods <ul><li>Frying to Boiling </li></ul><ul><li>Frying to Steaming </li></ul><ul><li>Fast cook to Slow cook </li></ul>...

Other Methods (Internal) <ul><li>SERENDIPITY WALK </li></ul><ul><ul><li>Walk along an avenue or street </li></ul></ul><ul>...

Remember always: <ul><li>Start with the CUSTOMER NEEDS </li></ul><ul><ul><li>Be sure there would be a large number who sha...

Remember always: <ul><li>There is no perfect product </li></ul><ul><li>Today’s winners can be tomorrow’s losers </li></ul>...

YOU ARE THE INNOVATION!

You and your SKILLS

You and your IMAGINATION “ IMAGINATION IS MORE IMPORTANT THAN KNOWLEDGE” –Albert Einstein

You and your NETWORK

social networking stats Description / Focus No. of Reg’d Users General. Also for businesses and celebrities. 500 M Genera...

You and your PURPOSE

You and TECHNOLOGY

YOU Welcome to your world!

You and your VISION “ I believe that the nation should dedicate itself to committing the goal that before the decade is ou...

“ I have a dream.” <ul><li>Martin Luther King </li></ul>

You and your MINDSET <ul><li>Nothing is impossible </li></ul><ul><li>I can do it </li></ul><ul><li>I have what it takes </...

You and your ENTERPRISE <ul><li>“ If you build they will come.” </li></ul>

You and your PASSION It is doing what you love doing, even when it hurts.

Live an INTERESTING LIFE! It’s a wonderful world! You are the universe’s greatest miracle.

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