Opportunity

Seeking, Screening,
and Seizing
On a ½ sheet of paper, answer the
following:
 What are the different sources of
opportunities? How do they differ
from each other?
 What are the different ways of
screening opportunities? Why is it
important?
On a ½ sheet of paper, answer the
following:
 How can an entrepreneur seize
the different opportunities
available?
Opportunity
Seeking
The Different Sources
 Macro Environment
 Industry
 Market & Micromarket
 Customer Preferences, Piques,
and Perceptions
 Others
Macro Environment

P. E. S. T. E.
Industry
 Product Types
 Raw Materials
Industry
Industry
Industry
Industry
Industry
Industry
Industry
Market
 Supply and Demand
 Micromarket – Specific Target
Market Segment
Consumer Preferences
 Consumer Preferences – Tastes of
a particular group of people
 Consumer Dislikes – Refer to
things that irritate the customers
Opportunity
Screening
The Personal Screen
 First ask the personal
preferences by asking three
basic questions:
The Personal Screen
1. Do I have the drive to pursue
this business opportunity to
the end?
2. Am I willing to spend all my
time, effort, and money to
make this business
opportunity work?
The Personal Screen
3. Am I willing to sacrifice my
existing lifestyle, endure
emotional hardship, and
forego my usual comforts to
succeed in this business
opportunity?
Risk-Return Grid
12 Rs of Opportunity Screening

1. Relevance
(to Vision, Mission, and Objectives)
2. Resonance (to Values)
3. Reinforcement (of Interests)
4. Revenues
12 Rs of Opportunity Screening

5. Responsiveness
(to customers’ wants and needs)
6. Reach
7. Range
8. Revolutionary Impact
12 Rs of Opportunity Screening

9. Returns
10. Relative Ease of Implementation
11. Resources Required
12. Risks
Opportunity Screening Matrix
Factors in a
Pre-Feasibility Study

 Market Potential and Prospects

 Availability and Appropriateness of
Technology
 Project Investment and Detailed
Cost of Estimates
 Financial Forecast
Things to consider in a
Feasibility Study
1. A more in-depth study of market
potential to ensure that the
business proposal will reach the
forecasted sales figures
2. Proof that the product or services
being offered has the right design,
attributes, specifications and
Things to consider in a
Feasibility Study
3. Proof that the entrepreneur and
his or her team have the
necessary experience, skills, and
capabilities to maximize the
venture’s chances of success
4. Legal Visibility
Things to consider in a
Feasibility Study
5. More detailed costing on the
different assets and more
justification for the production
and operating expenses
6. More thorough analysis of the
technology and its sustainability
 Opportunity
Seizing
“Will I be able to manage, to my
advantage, the critical success
factors and avoid the critical
failure factors?”
Crafting a Positioning Statement

1. What are the main customer

segments?
2. What are the different product
attributes and features of each of
the competitors?
Crafting a Positioning Statement

3. What are the existing marketing

practices of the various
competitors?
4. What are the market preferences
of consumers when it comes to
the products being offered?
Options/Directions in
Coming up with a concept

1. Be similar to what works

2. Find a niche that is underserved
3. Position yourself where others are
weak
4. Change the way customers think
The Next Steps…
DESIGN
PROTOTYPE
TEST
IMPLEMENT
ORGANIZE
FINANCE