OPPORTUNITY

SEEKING,SCREENING
AND SEIZING
Opportunity Seeking

Entrepreneurs are innovative opportunity

seekers. They have endless curiosity to
discover new or different ideas and see
weather these ideas will work in the
marketplace.
Entrepreneurial Mind Frame, Heart Flame
and Gut Game

Entrepreneurial Mind frame - allows the

entrepreneur to see things in a very positive,
and optimistic light in the midst of crisis or
difficult situations.
Entrepreneurial Heart flame- is one
commonality between an inventor and an
entrepreneur, it is their surging passion.

Entrepreneurial Gut game- is the final

ingredient. This refers to the ability of the
entrepreneur to sense without using the five
senses.
Macro Environmental Sources
of Opportunities

Macro Environment refers to

the “big or macro forces” that
affect the area, the industry,
and the market, which the
enterprise belongs to.
1. Socio –Cultural Environment
These include the demographics and cultural
dimensions that govern the relevant entrepreneurial
endeavor.
2. Political Environment
The political environment defines the governance
system of the country or the local area of business. It
includes all the laws, rules, and regulations that
govern business practices as well as the permits,
approvals, and licenses necessary to operate the
business.
3. Economic Environment
Supply and demand forces mainly drive the
macroeconomic environment. They are the
same factors that drive the interest and
foreign exchange rates that fluctuate with the
movement of the market forces.
 5. Technological Environment
New scientific and technological
discoveries, which often lead to the
launch and commercialization of new
products.
Industry Sources of Opportunities
Participants in an industry include:
1. Rivals or competitors in a particular
type of business
2. Suppliers of input
3. Consumer market segments being
served by rivals or competitors.
4. Substitute products or services,
which customers shift or turn to.
Micromarket - refers to the specific
target market segment of a
particular enterprise. These are the
target customers that represent the
immediate customers of an enterprise.
 Consumer preferences

Consumer preferences refer to the

tastes of particular groups of people.

Some examples are the clothes people

wear and the food they eat.
 Consumer dislikes
Consumer dislikes refer to the things
that irritate customers. Either
way, the entrepreneur can explore
opportunities brought about by consumer
preferences or dislikes.
 RE L E A V A NC E 1.

2 RE S O NA NC E

RE INF O RC E M E NT OF
E NT RE P RE NE U RIA L 3

INT E RE S T S

4 RE V E NU E S

The 12Rsof
Opportunity RE S P O NS IV E NE S S 5

Screening
 RE A C H 6

7 RA NG E

RE V O L U T IO NA RY 8
IM P A C T

9 RE T U RNS

The 12Rsof
RE L A T IV E E A S E
Opportunity OF
10

Screening IM P L E M E N T A T IO N
 RES OU RC ES 11
REQU I RED

12. RI S K

The 12Rsof
Opportunity
Screening
 Technology Assessment and Operations
Viability
There are at least four target customer expectations affecting the scale and
complexity of an enterprise’s operations.
1. Quantities Demanded
2. Quality specifications demanded. This would dictate the following:
(a) Quality of input or raw materials
(b) Quality assurance process in transforming input to output
(c) Quality output that meet the operations, standards set; and
(d) Quality outcomes for the customers who will be looking for specific results.
3. Delivery expectations
4. Price expectations
Challenge yourself:
1. Choose any industry operating in your local area.
You may choose the eatery industry if that is
the most common. What are the different types
of eateries? Do these different types of eateries
have different types of customers?
THANK YOU