Paitan, Zhearrle Dreve, D G-29

ENTREPRENEURSHIP STEM 1

OPPURTUNITY SPOTTING AND ASSESMENT

Because we observed that the customers loved to beautify their compound the business that he should established
is plant and flower shop business. It will also give him a good opportunity in his creative ideas for his pots.
Customers will surely love it because of it`s advantage as it was a handmade pot. Also customers can suggest
whatever their designs or trend ideas that they want to do with their pots or their flowers. All of the products and
services are sold at a premium price.

DEVELOPING A BUSINESS PLAN

FINANCIAL PLANNING
As for the financial planning Mang Tacio should hire a professional to determine the use of profits as he is just
starting his own business. So in that way he will learn to invest for the need of his business.

TACTICAL PLANNING
The shop is not only a place for customers to shop plants or flowers but also enjoy an environment of flower art.
Because Mang Tacio aims to deliver fun and exciting experiences for customers.

STRENGTH
Mang Tacio is the first one to build his plants and flower shop business this means that surely customers will have
no other options but to go there or try it.

RISK
His shop may face many more competitors entering in the next few years when the competitors realize that people
buying power is gaining. The competitors will also try to copy his creative design and ideas. So it will going to be
challenging. So, the process is often time-consuming.

CUSTOMERS
The key customers for Mang Tacio are his neighbors in his compound.

DETERMINING THE CAPITAL NEEDED

Mang Tacio has only 20,000 to start this kind of business so he needs to think wisely on how to spend that amount
but if his money is not enough, he can borrow to his friends or get a loan . Next, he needs to get familiar wit h the
pros and cons of the different sources of financing available to his enterprise and how each source might cater his
particular needs.
With a specific end goal to stay away from common mistakes in borrowing money, for example, securing the
wrong type of financing, underestimating or overestimating the sum required and the cost of borrowing money,
it’s essential that Mang Tacio should manage his existing capital wisely. This can sometimes get confusing and
complicated even with proper planning.

WILL YOU BE HIRING EMPLOYEES

Ideally, Mang Tacio should hire a less employee to spend small amount of money as he was just starting.

RUNNING THE BUSINESS

Mang Tacio needs to capitalize on the live entrepreneurship ecosystem and the buying power of customers to
penetrate into the business. Through the business, Mang Tacio will be able to answer his raising question in the
beginning about the feasibility of his business. Also, Mang Tacio needs to further develop his research on his
business and to initiate an interview to a business man that has a similar business with him. He also needs to write
about the business after 5 years into the business. This will help develop a longer-term plan for his plant and
flower shop.

He needs concrete data on his ideal customers, the existing competition, expected growth and demand, market
trends, and more. These types of insights are invaluable and will help him make informed business decisions and
goals
For his business to be successful, it has to make enough money to sustain operations and turn a profit that can be
re-invested for future growth.