PERFOMANCE TASK #1

Subject: ENTREPRENEURSHIP
Title: The Entrepreneurial Process-Spotting of
Opportunities/Recognizing a Potential Market

SPOTTING OF OPPORTUNITIES

Spotting Opportunity in: Deca Homes, Pacol Vistansa N.C

Unmet Need/s: The absence of a nearby store
Opportunity: Mini Merchandise

Introduction:

Everyone finds it interesting to build a business, but there are numerous

questions and consequences that can arise when people embark on an
unplanned venture.
In Deca Homes, Pacol Vistansa N.C, people need to ride a tricycle or take
a ride to for them to get their wants and need such as products or services. The
stores and other establishments are too far away in this village because of the
reason that this village is just new. They have a problem purchasing their
necessities and for emergencies due to a lack of stores that can provide what
they demand. The mini merchandise is one of the best businesses that can be
created in this village because it can provide items that people frequently
require, such as shampoo, toothpaste, soaps, canned goods, or cooking
ingredients or condiments and so much more.

Body/ Argument:

This type of opportunity will most likely benefit both the seller and the
potential customers because they will not need to take a ride to fulfill their wants
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and needs because it will be walking distance from their homes. It is very
convenient for everyone because they can save time and money by not having
to pay for gas for their own transportation or tricycle fare. The store's location is
critical because having a large number of customers in one location, such as
Deca Homes in Pacol Vistansa, Naga City, can spell success. It's worth investing
in, especially since there aren't any stores yet because the village is still in its early
stages. There are no competitors, and the business has few weaknesses when it
comes to SWOT analysis.

We all know that when starting a business, we should consider whether it

will be sufficiently appealing to customers, whether the products or services will
meet the needs of the people in Deca Homes. This mini merchandise that I want
to establish will attract customers in such a way that this business will be able to
meet the customers' desires and needs in a short period of time. Unlike other
stores, where customers must travel to get what they need for their daily lives.

In this case, when I build that mini merchandise, the lack of nearby stores in
Deca Homes, Pacol Vistansa, N.C. will be solved. The business will most likely have
a low competitive advantage for the time being since the village is still
unrecognized and there aren’t many stores there yet. As soon as the village gets
to recognize that will be the time that I will have potential competitors. That will
be the beginning of gaining a competitive advantage over others. That is also
the time for my mini merchandise to strengthen both the internal and external
aspects of my business.

Every business and every product has risks, and yet every risk is worthwhile
if it is for a good purpose and makes a significant contribution to a good life. If
you are afraid of taking risks, you should leave the company because it cannot
function without them. Internal and external risks in a business include a
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competitor entering the market, customer loss, lower revenue, interest rate
increases on business loans, non-paying customers, damage from a natural
disaster such as a flood, earthquake, or bankruptcy, and many more. Everyone
can experience those things if they have a business, even in the mini merchandise
I wanted to build. I can experience them because I cannot predict or stop the
future, but I can keep my business from failing.

Since I love being in a business industry this mini merchandise is one of the
businesses that I wanted to run when I was a child. It is something that I wanted
to expand on becauses it can really help people in surviving their daily lives. It is
convenient; customers can purchase snacks, groceries, personal items, and
personal services typically that a normal people want and needs. It saves the
customers from having to pay extra transportation costs, which is especially
important in villages, subdivisions, or rural areas where towns can be quite far from
the nearest market or grocery store. Creating this business assisted me in finding
a way to pursue my dream of becoming a CEO because I believed that
everything big began small, and I wanted to provide people with what they truly
needed. This mini merchandise came to mind in that location (Deca Homes,
Pacol Vistansa, N.C.) because I conducted some research on my own to see
what the basic needs and wants of the people in that place but still don't have
any. I considered my business's target market and, finally, whether my budget
could support the construction of a store and all, and the answer was yes. I have
a mission and a vision for everything I will do in life, particularly in business, because
this is where my heart is.

In the business world, everything is paid in two coins: cash and experience.
Take the experience first; the cash will come later, according to Harold S. Geneen
(N.D). That’s the reason why now I never dream about success, because I will and
will continue to work for it. Training, discipline, and hard work can transform a small
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business into a bigger one. Risk is everywhere. Even if you are the seller or the
buyer, people must embrace the consequences no matter what. My Mini Mart is
my steppingstone to achieve my dreams and I will not lose any opportunity
anymore. I want to be a remarkable seller to my potential customers in the future
because business is fun, it has to be fun, and it can exercise everyone's ability to
communicate and build a strong relationship.