LESSON 2: Opportunity Identification and Developing A Business Plan

ACTIVITY (Page 35-36)

Directions: Answer the following questions as best you can. Write down your answers on the
space provided.

1. Social media has been very active in terms of spreading the word about practically anything
and everything. As a budding entrepreneur, how can you take advantage of this trend to churn
out potential opportunities. List down 10 potential business opportunities that you see.

1. Selling of Handmade Products (Crochet, Crafts, Hand-sewn clothes)

2. Digital Art Commission
3. Selling of Thrift Clothes
4. Photography Business
5. Home Bakery Business
6. Freelance Writing
7. Web Designer
8. Online Marketing and Business Consulting
9. Online Accessories Shop
10. Jewelry Making

2. A contractor of a fast food giant failed to deliver the expected output of an inventory systems
upgrade. This resulted in more than 70 branches closing due to inventory problems. It
compromised the sales for the month. What do you think were the potential opportunities
opened up to other players in the fast food industry?

Due to the situation, they opened many opportunities to the other players. Most of them will
have a chance to show off their potential and prove their fast food businesses' capability. They
can further grab the fortune by doing great things that can be a way to satisfy the consumer's
wants and needs since most of the fast-food chains' satisfaction is the satisfaction of the people
on the foods they served. Besides, they could attract more customers and give the best service
they could provide to the customer, in a way to gain their trust to them.

3. Explain the meaning and importance of a business plan.

The business plan is known as a guide to the aspiring entrepreneur and ordinary businessman,
and it is a roadmap or an outline towards the objective and goal of the business. To the
startups, it's significant to them to know and understand the flow of their investments and the
direction to have a precise decision in terms of making decisions.

4. The business plan starts with the market idea. Generate about five products or services that
you want to start a small business. Describe each briefly. Then, identify to whom you intend to
sell your product(s)/service(s). Use the table below to write your answers.

Products/Services Description Target Market

Web Design The web design is also like a
graphic design; however, it is
5. The next step in a business plan is the production aspect. Choose one product/service that
you like the most to be your future business. Research how you will produce it and the raw
materials and equipment/machinery needed for its production. Use the table below to write your
answers.

Name of the Product/Service:

Production Process Raw Materials Equipment/Machinery