MODULE 1:

ENTREPRENUERSHIP
Topic 8:
Opportunity
Identification
MS. JEZL C. MORILLO
 • Simply defined as an
attractive investment idea
or proposition that
provides the possibility of
a return for the person
taking the risk.
• An idea that has
commercial potential
• Something you can give
INSIDE-OUT AND OUTSIDE-IN TACTICS: value to, make money
1. Inside-out : Involves pulling all the skills one has and searching for a problem with, and develop a
or market to which one can apply those skills. business venture on.
2. Outside-In: Involves looking at the larger picture, evaluating the market
where one wants to operate, isolating a neglected problem, designing a
creative and profitable way to solve the problem, and locating the
appropriate skills, talents, and resources to get it started.
“ The real magic of
discovery lies not
in seeking new
landscapes but in
having new eyes”
- Marcel Proust
Dorie Clark says that it’s rare for anyone simply to
stumble upon a “golden” opportunity; one has to create
the opportunity actively.

The idea she suggest:

1. Look for Gaps- one must therefore be alert and
keep open for any sign of any needed product or
service in the community.
2. Look for more responsibility- taking more
responsibility to improve upon these goods and
services, and that is one way of finding new
opportunities in starting a business.
3. Look for bigger problems- solving a bigger problem
typically would mean seizing a bigger opportunity.
4. Look for knowledge arbitrage- look elsewhere in an
unrelated field and see what’s working. Then apply
that solution to the new business that the
entrepreneur planning to start.
5. Look to listen- when one actively listens with an
open mind, one will start spotting opportunities
sooner than later.
New ideas have been enumerated by
Rajesh Setty:

• From the media

• Knowledge Arbitrage
• Blogs
• Harness the power of association
• Talk to the Customers
• Get tips from a coach
• Listen
• Develop the right attitude
• Think
• Ask for Ideas
 “The magic happens when
you find the sweet spot
where you genuine interests,
skills, and opportunity
intersect.”
 Identification of Opportunities
1. The growth stage of a micro-small or medium-size
enterprise (mSME) typically requires more
resources than the company commands.
2. In order to grow in their competitive
environments, mSMEs should proactively engage
in identifying opportunities.
3. The management team should have criteria and
procedures for assessing opportunities, as only the
most promising and suitable should be pursued.
4. Exploiting opportunities includes obtaining
resources to implement the business’s growth
strategy.
5. The long-term health and survival of mSMEs
depends on their ability to recognize, evaluate,
and pursue growth opportunities in competitive
environments.