ENTREP

ENTREPRENEURSHIP
MIDTERM
HANDOUT #1 Developing a Business Plan
Opportunity Seeking, Screening, and Seizing
✓ 3S Opportunity
✓ Essential to an Entrepreneur’s
Opportunity Seeking
✓ Sources of Opportunities
MIDTERM
SEEKING,SCREENING, and SEIZING
3S of • It is the framework that most of the

Opportunity promising entrepreneurs use to finally
come up with the ultimate product or
service suited for specific opportunity.
OPPORTUNITY
• It is an entrepreneur’s business idea that
can potentially become a commercial
product or service in the future.
MIDTERM
SEEKING THE OPPORTUNITY

• Opportunity Seeking
PO3: Apply their technical, communication, interpersonal, teamwork skills in planning, executing, and
evaluating a viable project or venture necessary for pursuing sustainable economic path for themselves
and their community.
An endless curiosity to the discover new or different ideas and

see whether these ideas will work in the marketplace.
It is the first step and it is the most difficult process of all due to
the number of options that the entrepreneur will have to choose
from.
MIDTERM
ENTREPRENEUR ORDINARY BUSINESSMAN
VS
LPO3: CREDIBLE, RESPONSIVE COMMUNICATORS and TEAM PLAYERS

MIDTERM
Essential to an entrepreneur’s
opportunity seeking
Entrepreneurial Mind Frame
Heart Flame
Gut Game
MIDTERM
Essential to an entrepreneur’s opportunity seeking
Entrepreneurial Entrepreneurial Entrepreneurial

Mind Frame Heart Flame Gut Game
Allows the It is about the emotional This refers to the

entrepreneur to intelligence or EQ, which is ability of the
see things in a often manifested in the entrepreneur to
very positive and entrepreneur’s effort to see without using
optimistic light nurture relationships with the five senses.
during crisis or customers, employees, and
difficult situation. suppliers.
MIDTERM
Worksheet #1 for MIDTERM

Transfer Activity: Making a Business Plan
Good Business Plan format: EPO7: Willing share responsibilities and

participate actively in fostering group
collegiality, cohesion, and effectiveness.
I. Introduction
II. Executive Summary
III.The Business Proponents
IV. The Target Customers and the Main Value
Proposition to the Customer
ILO: Each Paulinian takes the risk of
V. The Market, Market Justification innovating with combinations of materials in
VI.The Product and Service Offerings creating an original or derivative ICT content
to effectively communicate or present data or
information related to specific professional
track.
MIDTERM

SOURCES OF OPPORTUNITIES
1. Macro Environmental Sources of Opportunities
2. Industrial Sources of Opportunities
3. Market Sources of Opportunities
4. Other Sources of Opportunities

MIDTERM
Macro Environmental Sources of Opportunities
T echnological
E cological
E conomic
P olitical
S ocio-cultural
MIDTERM
Industrial Sources of Opportunities
1. Government
2. Suppliers
3. Customers
4. Competitors
5. Employees
6. Creditors
MIDTERM
Market Sources of Opportunities
 The entrepreneur must also be able to measure the actual demand and supply as well as the
potential demand and supply of the industry that the enterprise belongs to.
MIDTERM
Analysis Types to Identify Market Opportunities
1. Consumer Segmentation
• To understand your demand, you must identify consumer segments that share common
characteristics.
 Age  Lifestyle
 Gender  Attitude
 Place of residence  Values
 Educational level  Purchasing motivations
 Occupation and level of income
MIDTERM
2. Purchase situation analysis
 When do people buy our product?

 Is it when they need it?
 Where do people make the purchase?
 How do they pay?
MIDTERM
3. Analysis of Complementary products and services
 Companies should monitor the performance of other companies’

products, which are complementary to other own..
MIDTERM
4. Environmental analysis
 Market opportunities can also be identified by analyzing changes

in the environment with technological and scientific developments
generating new business opportunities.
MIDTERM
Other Sources of Opportunities
1. Customer preference change over time.
2. People’s tastes in clothes, music, shoes,

entertainment, dance, sports, hobbies, and even
careers have evolved over the year
3. What piques customer’s is a great source of

opportunities.
MIDTERM
4. Before the customer is won over, there is first a

battle for the mind. Next, there is a battle for the
heart. Finally, there is a battle for the wallet.
5. The longer the customer wants to use the product,

the greater the chances of creating lasting loyalty.
MIDTERM
6. Opportunities abound in shaping consumer

perceptions or occupying spaces in their minds or
places in their hearts that have not yet been filled.
7. New inventions, new systems and work

processes, new insights about the human psyche,
new applications.
MIDTERM
8. Determining personal preferences and

competencies lay the foundation for a new business
venture.
9. Unexpected occurrences in both the external and

internal environment of the enterprise indicate that
significant changes are happening and opportunities
are sprouting.
MIDTERM

• Opportunity Screening
 The Personal Screen
 The 12Rs of Opportunity Screening

MIDTERM
SCREENING THE
OPPORTUNITY
The Personal Screen
1. Do I have the drive to pursue this business opportunity to the

end?
2. Will I spend all my time, effort, and money to make the

business opportunity work?
3. Will I sacrifice my existing lifestyle, endure emotional

hardship, and forego my usual comforts to succeed in this
business opportunity?
MIDTERM
SCREENING THE
OPPORTUNITY
The 12 Rs of Opportunity Screening
1. Relevance
2. Resonance
3. Reinforcement
4. Revenues
5. Responsiveness
6. Reach
MIDTERM
SCREENING THE
OPPORTUNITY
The 12 Rs of Opportunity Screening
7. Range
8. Revolutionary Impact
9. Returns
10. Relative Ease of Implementation
11. Resources Required

12. Risks
MIDTERM
OPPORTUNITY SEIZING
• Opportunity Seizing
 Designing, Prototyping, and Testing the Product
 Implementing, Organizing, and Financing

MIDTERM
OPPORTUNITY SEIZING
Designing, Prototyping, and Testing the Product
The entrepreneur must be able to ‘perfect’ the

product or service as it goes through the above
processes while the product or service is
continuously subjected to testing and improvement.
MIDTERM
SCREENING THE
OPPORTUNITY
Implementing, Organizing, and Financing
1. Choose the right technology
2. Choose the right people
3. To design the operating workflow
4. Specify the systems and procedures

5. Design the organizational architecture
MIDTERM
DIFFERENT TYPES OF MARKET
✓ Potential Market
✓ Available Market
✓ Target Market
✓ Penetrated Market
MIDTERM
DIFFERENT TYPES OF MARKET

Potential Market
Available Market
Target Market
Penetrated Market
Total Population
MIDTERM
Potential Market
 is the part of the total population that has

shown some level of interest in buying a
particular product or service. Potential
market is also called Total addressable
market. (TAM) (MBA Skool Team,
2018).
MIDTERM
Potential Market
 is the part of the market you can capture

in the future. It includes the demographic
groups that are not currently your
customers but could become customers in
the future (Lake, L, 2019).
MIDTERM
Potential Market
 is the total demand for a product in a

given business environment (Bhasin, H.,
2018).
MIDTERM
POTENTIAL MARKET
Importance of Potential Market
1. Potential markets are an important part of a business's future growth.
2. Ensure the future of your business by identifying new customers.

3. Think proactively about ways for your business to grow and change.
4. Show the potential of your business to investors or collaborators.
5. Increase your revenue.

6. Create a plan B that will weather changes in the economy or market.
MIDTERM
POTENTIAL MARKET
How to Identify a Potential Market
· Consider every target demographic that you currently sell to, as well as
those you have not yet targeted.
· What other products do my customers need now?
· What related products will they need in the future?
· Who else could make use of the products I am selling now?
· What demographic information does that new group have in common with
my current customers?
· What demographic information does that new group have in common with
each other?
MIDTERM
Available Market
 Prospects who are willing and capable (have

sufficient resources) buyers and have access to a
particular market or service
(www.businessdictionary.com).
 Defined as the number of people who are both

willing and capable of buying a particular product or
service in a particular market.
(MBA Skool Team, 2020)
MIDTERM
Target Market
 Refers to a group of potential customers to

whom a company wants to sell its products and
services. Target markets are generally
categorized by age, location, income, and
lifestyle. Defining a specific target market allows
a company to home in on specific market factors
to reach and connect with customers through
sales and marketing efforts. (Kenton, W., 2019).
MIDTERM
Penetrated Market
 A set of customers or clients who are already

using a particular product or service. A
penetrated market means that the potential
users of a product or service are aware of it,
and in many cases are active consumers of it.
(www.businessdictionary.com )

ENTREP

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ENTREPRENEURSHIP

Opportunity Seeking, Screening, and Seizing

SEEKING,SCREENING, and SEIZING

3S of • It is the framework that most of the

SEEKING THE OPPORTUNITY

An endless curiosity to the discover new or different ideas and

ENTREPRENEUR ORDINARY BUSINESSMAN

LPO3: CREDIBLE, RESPONSIVE COMMUNICATORS and TEAM PLAYERS

Entrepreneurial Mind Frame

Essential to an entrepreneur’s opportunity seeking

Entrepreneurial Entrepreneurial Entrepreneurial

Allows the It is about the emotional This refers to the

Worksheet #1 for MIDTERM

Good Business Plan format: EPO7: Willing share responsibilities and

SEEKING THE OPPORTUNITY

1. Macro Environmental Sources of Opportunities

2. Industrial Sources of Opportunities

3. Market Sources of Opportunities

4. Other Sources of Opportunities

 When do people buy our product?

 Companies should monitor the performance of other companies’

 Market opportunities can also be identified by analyzing changes

1. Customer preference change over time.

2. People’s tastes in clothes, music, shoes,

3. What piques customer’s is a great source of

4. Before the customer is won over, there is first a

5. The longer the customer wants to use the product,

6. Opportunities abound in shaping consumer

7. New inventions, new systems and work

8. Determining personal preferences and

9. Unexpected occurrences in both the external and

SEEKING THE OPPORTUNITY

 The Personal Screen

 The 12Rs of Opportunity Screening

1. Do I have the drive to pursue this business opportunity to the

2. Will I spend all my time, effort, and money to make the

3. Will I sacrifice my existing lifestyle, endure emotional

11. Resources Required

 Designing, Prototyping, and Testing the Product

 Implementing, Organizing, and Financing

The entrepreneur must be able to ‘perfect’ the

3. To design the operating workflow

4. Specify the systems and procedures

DIFFERENT TYPES OF MARKET

DIFFERENT TYPES OF MARKET

 is the part of the total population that has

 is the part of the market you can capture

 is the total demand for a product in a

2. Ensure the future of your business by identifying new customers.

4. Show the potential of your business to investors or collaborators.

5. Increase your revenue.

 Prospects who are willing and capable (have

 Defined as the number of people who are both

 Refers to a group of potential customers to

 A set of customers or clients who are already

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