The document discusses what constitutes an entrepreneur and how to identify entrepreneurial opportunities. It provides examples of entrepreneurial motivation and outlines the process of sensing, exploring, and assessing opportunities. This includes analyzing market needs, evaluating ideas, identifying products/services through innovation, and validating opportunities through market research. The document also includes a case study about entrepreneurs who identified the opportunity to create sustainable packaging from plant-based materials to address the growing demand for eco-friendly options. They faced challenges launching their startup but ultimately achieved business success and a positive environmental impact.

1. A WARM WELCOME...
CHARAK RAY

2. DEFINITION
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 An entrepreneur is a person who organizes
and operates a business, taking on greater
than normal financial risks in order to do so.
But is an independent freelancer an entrepreneur? What about a full-time Ola
driver? Someone who runs a stall at a fish market? Where do we draw the
line, if there is one to draw?

3. ENTREPRENEURSHIP
E-Enterprising
N-NOVELTY
T-Trends
R-Risks
E=EMPLOYMENT
P-Profits
R-Rewards
E-Empowerment
N-NEW
E=EMERGING
U-UtilizE
R-Record
S-Struggle
H-Harness
I-Innovation
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4. WHAT MOTIVATES
ENTREPRENEURS?
 Autonomy
 Purpose
 Flexibility
 Financial Success
 Legacy
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5. SENSING ENTREPRENEURIAL
IDEAS & OPPORTUNITIES…
BY CHARAK RAY

6. ELEMENTS OF BUSINESS
OPPORTUNITY
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 Assured Market Scope
 Attractive & Acceptable Rate of Return on
Investment
 Practicability of the Idea
 Entrepreneurial Competency to encash it
 Potential of Future Growth

7. ENTERPRISE PROCESS
DIAGRAM
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8. EXPLORING OPPORTUNITIES IN THE
ENVIRONMENT
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 Opportunity Spotting by analyzing the Needs &
Problems that exist in the environment
 Evaluating Ideas received from different sources to
find a Creative Solution
 Identifying a Product or Service through Innovation

9. FACTORS INVOLVED IN SECURING
OPPORTUNITIES
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 Ability to perceive & preserve basic ideas which
could be used commercially
 Ability to harness different sources of Information
 Vision & Creativity

10. VARIOUS SOURCES FOR BASIC
IDEAS
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 Problem
 Change
 Invention
 Competition
 Innovation

11. IDEA FIELDS
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12. IDEA FIELDS
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 Natural Resources
 Market Driven Ideas
 Service Sector Ideas
 Existing Products
 Creative & Innovative Efforts

13. COVERSION OF IDEA INTO
OPPORTUNITY
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14. STEPS FOR IDEA & OPPORTUNITY
ASSESSMENT
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 Product Identification
 Application & Use
 Level of Operation
 Competition
 Technical Complexity
 Annual Turnover & Profit Margin
 Cost

15. OPPORTUNITY-PROJECT
INTERFACE
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16. TREND SPOTTING
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 Read Trends
 Watch Trends
 Talk Trends
 Think Trends

17. FACTORS TO BE KEPT IN MIND WHILE
ASSESSING THE MARKET
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 Demand
 Cost & Price of the Product
 Supply & Nature of Competition
 Project Innovation & Change

18. CASE STUDY
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 Title: "The Sustainable Packaging Solution"
 Scenario:
 In a world increasingly focused on sustainability, a group of environmentally-conscious
entrepreneurs noticed a significant gap in the market for sustainable packaging solutions. They
observed that while many businesses were striving to reduce their environmental impact, there
was still a lack of viable options for eco-friendly packaging materials.
 Opportunity Identification:
 The entrepreneurs conducted extensive research and identified an opportunity to develop and
offer an innovative packaging material made from plant-based, biodegradable materials. This
material would not only be environmentally friendly but also provide comparable durability and
functionality to traditional packaging materials. They envisioned their solution as a means to help
businesses reduce their carbon footprint and meet the growing consumer demand for sustainable
products.

19. "The Sustainable Packaging Solution"
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 Market Analysis:
 To validate their opportunity, the entrepreneurs analyzed the market landscape. They
found that consumer preferences were shifting towards brands that prioritized
sustainability, and many companies were actively seeking eco-friendly packaging
alternatives. Additionally, they discovered that existing sustainable packaging options
were often expensive or limited in availability, leaving a substantial untapped market
opportunity.
 Execution and Challenges:
 The entrepreneurs decided to pursue their opportunity and established a startup
called "EcoPack." They collaborated with materials scientists and packaging experts
to develop their innovative packaging material. They faced various challenges,
including securing funding for research and development, sourcing reliable and cost-
effective raw materials, and establishing partnerships with manufacturers and
distribution networks.

20. "The Sustainable Packaging Solution"
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 Business Impact:
 Despite the challenges, EcoPack successfully launched their sustainable packaging solution in the market. Their
eco-friendly packaging material gained attention from both small businesses and large corporations looking to
enhance their sustainability initiatives. EcoPack's solution not only provided a competitive edge to businesses
striving to differentiate themselves but also contributed to reducing the environmental impact of packaging waste.
 Key Takeaways:
 Sensing entrepreneurial opportunities involves identifying gaps in the market and aligning them with emerging
trends and consumer demands.
 In this case, the entrepreneurs spotted the increasing demand for sustainable packaging solutions and developed
an innovative product to address it.
 Market analysis plays a crucial role in validating the opportunity and understanding the potential customer base.
 Execution of the opportunity requires overcoming challenges such as funding, sourcing, and establishing
partnerships.
 The successful implementation of the opportunity can lead to both business success and positive environmental
impact.

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QUESTIONS, IF ANY…

22. THANK YOU…
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