 The Entrepreneurial

Process
1. Opportunity spotting
and assessment –
Entrepreneur at this point
take note of the interesting
trends in their environment.
 The Entrepreneurial
1. Process
Opportunity spotting and
assessment
Major sources of opportunity
• Glaring problem in the
environment
• Problem encountered by co-
entrepreneurs
• New trend, process and
developments in the environment
 The Entrepreneurial
1. Process
Opportunity spotting and
assessment
Minor Sources of opportunity

• Feedback from distribution

or business partners.
 The Entrepreneurial
1. Process
Opportunity spotting and
assessment
Minor Sources of opportunity

• Feedback from distribution

or business partners.
 The Entrepreneurial
1. Process
Opportunity spotting and
assessment
The entrepreneur toughest job:

- Estimation of opportunity
length.
-Capitalization required, Threats,
profitability
 The Entrepreneurial
Process a business plan
2. Developing
Comprehensive paper that
details the marketing,
operational, human resources,
financial, strategic direction and
tactics of the business.
 The Entrepreneurial
Process
3. Determining the capital
needed
- Entrepreneurial process
to calculate the resources
needed.
 The Entrepreneurial
Process
4.Running the business
– Entrepreneur should
use the resources
allocated for the new
venture.
Methods of
Generating
Ideas
1.Focused group discussion (FGD)

- Free- flowing and depth

discussion with group of
people who can provide
insightful ideas about new
product or service that fill a
market need.
2.Brainstorming

Activity allows the

participants to share
creative ideas using the
following rules:
2.Brainstorming

   no destruction criticism or judgement

is allowed

 wilder ideas are accepted

 more ideas are preferred

 improvement of others ideas is allowed

3. Brainwriting or
Internet brainstorming

-the channel used is

not face to face.
4.Problem inventory analysis
- the participants will just
identify from the list given the
compelling problem(s) of
potential product or service
instead of generating the ideas
from them.