FACTORS AFFECTING
Risk Taker - an entrepreneur Career
ENTREPRENEURSHIP
1. Personality Factors
Initiative - acting to improve a
situation without having to be
asked to do so.
Proactive - you make things
happen.
Problem Solver - finds solution to
a problem.
Perseverance - effort required to
do something and keep doing it till
the end.
Persuasion - to persuade a
person to believe or do a
particular thing.
A planner - set goals and then
design and implement tactics to
reach those goals.
Risk-taker - will risk everything in
the hope of achieving their goals.
2. Environmental Factors
Political - politicians decide the
type of market that is in place.
Climate - “transparency” of
perception and assessment,
Legal System - determine whether
a product is legal to sell in the
market or not.
Economic and Social conditions -
capital, infrastructure, raw
material, labor, and market.
Market Situations - elements of
consumer behavior and economic
trends that can affect a particular
sales market.
COMMON COMPETENCIES IN
ENTREPRENEURSHIP
1. Decisive - an entrepreneur
must be firm in making
decisions
2. Communicator - an
entrepreneur must have a
convincing power
3. Leader - an entrepreneur
must have the charisma to be
obeyed by his employees
4. Opportunity Seeker - an
entrepreneur must have the
ability to be the first to see
business chances
5. Proactive - an entrepreneur
can control a situation by
making things happen or by
preparing for possible future
problems
6.
has the courage to pursue
business ideas
7. Innovative - the entrepreneur
has big business ideas and
he does not stop improving
and thinking of new
worthwhile ideas for his
business
CORE COMPETENCIES IN
ENTREPRENEURSHIP
1. Economic and Dynamic
Activity
involves the creation and
operation of an enterprise
with a view to creating
value/wealth by ensuring
optimum utilization of limited
resources.
2. Innovative
entrepreneurs constantly look
for new ideas, thus he needs
to be creative.
3. Profit potential
the entrepreneur can be
compensated by his profit
coming from the operation.
4. Risk bearing
the entrepreneurs need to
gamble but wise enough to
offset the risk.
TYPES OF ENTREPRENEURS
1. Innovative Entrepreneurs
makes new things by thinking
of new ideas.
2. Fabian
skeptical about the changes
to be made
don't initiate, but follow after
they are satisfied.
3. Imitating  -new needs and wants
don't create new things
follows other entrepreneurs
4. Drone
lives on the labor of others
5. Social Entrepreneurs
initiates change and drive
social innovation and
transformation in the various
fields.
CAREER OPPORTUNITIES OF
ENTREPRENEURSHIP
1. Business consultant  2. Social listening
2. Teacher
3. Researcher
4. Sales manager
5. Business reporter
Job Opportunity
 It is simply an opportunity for
employment.
 It is a long-term
professionalism journey you
may determine based on your
passions.
Career in Entrepreneurship
 Can be made virtually any
field, depending on your
interests
Market
 Sum total of buyer and seller
in the area under
consideration.
 May be physical entity or may
be virtual
Market potential
 Population who is interested
in the product or services
being made for services
offered by an
organization/individual 
ANALYZING THE MARKET NEEDS
 Studying the needs and
wants important to a
business 
 Functional needs, desires
and goals of a target
audience
 Way to open up a new
business.
Needs
-necessary
-helps us to survive
Wants
-desire to possess 
Named
-Existing needs and wants 
-Existing service or goods
Unnamed
THREE METHODS IN IDENTIFYING
MARKET NEEDS
1. Focus group 
-a market research method
with 6-10 people in a room.
-provide feedback regarding a
product, service, concept or
marketing campaign and
learn about opinions on the
topic
-guided by a trained leader
-social media listening 
-process of identifying and
assessing what is being said
about a company, individual,
product or a brand on the
internet.
3. Keyword Research
-research popular terms

COMMON TYPES OF MARKET SIZE
Total Addressable Market (TAM)
Maximum size of the opportunity for a
particular product or solution.
Serviceable Available Market (SAM)
Represents a portion of the Total
Addressable Market (TAM), that you
can realistically acquire with your
current business model.
Serviceable Obtainable Market
(SOM)
Estimate for the portion of the revenue
within a specific product Segment that
a company is able to capture.
Product
Anything that we can offer to a market
for attention, acquisition, use or
consumption that could satisfy a need
or want. May be tangible or intangible
Goods
Are physical or tangible products that
consumers buy to meet their needs
and involve the transfer of ownership
from the seller to the customer.
Services
Intangible or non-material that consists
of activities, benefits or satisfactions
and do not result in the ownership of
anything.
TYPES OF MARKET NEEDS
Goods Needs
Prices - considers the budget
Features - tangible, can satisfy the
consumers
Effectiveness – solve problems of
customers
Service Needs
Empathy - ability to understand the
customers
Clarity – transparent
Communication – end to end contract;
builds trust w/ customers
HOW TO MEET THE MARKET
NEEDS
FACTORS TO CONSIDER IN
SCREENING THE PROPOSED
SOLUTIONS
Viability
Ability of business to survive
THREE AREAS TO CONSIDER
Objective
MISSION & VISION of business to
identify objectives
Man power or Human resource
Without manpower, business wouldn’t
be successful
Management must capitalize in the
use of new technology  Return of Asset - to measure the
Increases efficiency of service
THINGS TO TEST-CHECK A
BUSINESS VIABILITY OF NEW
VENTURE IDEA
Uniqueness
Product that is not yet in the market
Financing the venture
How much do you need to FINANCE
the business
Customer
Target customers
Competition
Strives to have become high quality
Economic mood
People thinks
Timing
Product is seasonal or not
Marketing of goods and services
Marketing strategies to analyze market
needs
Continuing cash flow
Financial plan for the whole year
Basic feasibility  Intangible aspects of purchasing a
Legality of business
SOURCES OF CAPITAL/FUNDS FOR
THE BUSINESS
Internal Source
o Savings and Assets (personal
properties of a starting
entrepreneur)
o Sources from internal
operation (business revenue) 
o Short term sources of debt
financing; banks
External Source
o Long term of Debt financing
o Bank Loans
Other Sources
o Partner's contribution for
partnership organization
o Stock options for
corporations/ equity financing
o Liquidation of assets 
Profitability 
how efficient the business is in using
its resources to produce profit (rate of
return on investment)
ABILITY TO GAIN PROFIT
Pay Back Period - allotted time for the
business to recover.
Return of Investment/asset (ROI) or
efficiency of investments
Return on Sales (ROS) - overall net
profit margin
Consumer requirement
 the specifications or features
of a product or service that
are deemed necessary by
customers.
 These requirements motivate
customers to buy a product or
service
 Need to be properly
documented or refined to
make sure that the final
product has all the features
expected.
TWO TYPES OF CUSTOMER
REQUIREMENTS
Service/Intangible Requirements
product that a customer expects to be
fulfilled.
Aspects of how a customer expects to
be treated while purchasing a product
and how much smooth his buying
process goes.
Output/Tangible Requirement
Mostly the tangible characteristics,
features or specifications that a
consumer expects to fulfill in the E environment
product. L legal
THREE LEVELS OF CUSTOMER
REQUIREMENTS
Must haves/expected 
Basic requirement expected by the
market that will be appreciated if
fulfilled.
Satisfiers/Good to have
The requirements that customers
express their desire for explicitly 
If you offer more of these satisfiers,
then the customers will appreciate it
more and will be more satisfied.
Delighters/Beyond expectation
Bonus, extras, or add-ons to the
product requirements.

EXAMPLE: Eat all you can

Must haves: extra seats, wash area,
service crew
Good to have: different dishes
Beyond expectations: free dessert,
take-out

SWOT ANALYSIS 

Strengths and Weaknesses are

INTERNAL FACTORS
CONTROLLABLE
Opportunities and Threats are
EXTERNAL FACTORS
UNCONTROLLABLE
HOW TO USE IT
 Identify the areas that
could be improved 
 Identify areas of
opportunity
 Identify areas that could
be at risk
P politics
E economics
S social
T technology