ENTREP PRES. PDF

BUSINESS OPPORTUNITIES GROUP 2 FIGHT OR FLIGHT SCENARIO 1 You’ve noticed that many local food vendors are still using plastic containers despite growing environmental awareness. You want to start a business providing affordable, biodegradable food packaging. SCENARIO 2 You’re...

BUSINESS OPPORTUNITIES GROUP 2 FIGHT OR FLIGHT SCENARIO 1 You’ve noticed that many local food vendors are still using plastic containers despite growing environmental awareness. You want to start a business providing affordable, biodegradable food packaging. SCENARIO 2 You’re thinking about opening a luxury pet grooming and spa service in a small rural town. The service includes premium grooming, aromatherapy for pets, and pet massages. SCENARIO 3 You’re planning to start a food delivery service that operates exclusively late at night in a university town. The menu includes affordable comfort food like burgers, fries, and milkshakes. SCENARIO 4 You plan to offer a mobile laundry service targeting busy apartment residents. Customers can schedule pickups and deliveries via an app, and you’ll wash, dry, and fold their clothes within 24 hours. SCENARIO 5 You want to start a drone delivery service for small packages, such as documents, food, and medicine, here at Bauan Batangas.  2 4 IDENTIFYING OPPORTUNITIES BUSINESS SCREENING FOR OPPORTUNITIES BUSINESS HOME-BASED OPPORTUNITIES BUSINESSES ASSESSMENT TO SELECT THE BUSINESS VENTURE 1 3 Potential Market A specific need or problem of a group of people or individual Group of individuals or organizations who could become customers 1 Business Opportunity A specific need or problem where one can take actions to make a profit 1  Two Main Approaches For Opportunity 1. Finding Approach 2.Building Approach 3  Two Main Approaches For Opportunity -Finding Approach The finding approach involves scanning the external environment for information on business and economic trends to generate ideas, assuming opportunities exist independently of the entrepreneur. 3 www.reallygreatsite.com Factors in Finding Approach Macro Micro Environmental Factors Environmental Factors Are generally affect the Directly affect specific types overall economy and of industries. state of business. 3 www.reallygreatsite.com Guide in Identifying Business Opportunities Macro Micro Environmental Factors Environmental Factors Such as: Sociocultural Such as: Technology Advancements Competitor Moves Economic Trends Suppliers Industry trends Increase of substitute Products Environmental or ecological factors Political situation 3 www.reallygreatsite.com Two Main Approaches For Opportunity -Building Approach The building approach to opportunity identification involves creating opportunities based on the entrepreneur's creativity, skills, and internal resources, assuming opportunities originate within the individual. Unlike the finding approach, it emphasizes innovation and "thinking outside the box" to develop ideas, even when information is incomplete. To turn an invention into an innovation, it must captivate consumer interest while using environmental insights to create something unique. 3 Opportunity Screening Kids 10% Adult 30% Process of assessing potential business opportunities and selecting the best to invest in Teenager 60% 4  the business is Viability achievable, the business practical, has the ability workable given to start, grow , the time and and survive resources you available 4 Feasibility  Opportunity Attractiveness Matrix a framework to help evaluate the attractiveness of several business options 4  Opportunity Attractiveness Matrix 1. Alignment with Personal Values, Interests, and Resources 2. Market Potential 3. Operating Potential 4. Financial Potential 5. Threat from Competitors 6. Potential Damage from 4 Unforeseen Risks Opportunities for home-based business A home-based business is a small business that you can run from your own house, instead of an office or store. These businesses offer a wide range of opportunities across various industries and social media platform. 4  20 most Profitable Home-based Business Ideas in the Philippines 1. Sari-sari Store 3. Online Selling Required: computer, internet Small Space in your home connection, and an online Offer a variety of goods to platform your neighbor Buy products by bulk and sell 2. Merienda Business them online. Starting Capital (Pesos) : Starting Capital (Pesos) : 3,000- 5, 000 Offer a wide variety of foods to 5, 000 - 10, 000 your neighbors from morning to afternoon Starting Capital (Pesos) : 2, 000 - 5, 000 2  20 most Profitable Home-based Business Ideas in the Philippines 4. E-loading Business 5. Baking Business Requires: Cell phone, Requires: Baking passion, retailer SIM card, starting breads/cakes/pastries, balance of ₱5,000. baking equipment Purpose: Sell prepaid investment. mobile load. Purpose: Offer various baked goods. Starting Capital (Pesos): 5,000 - 7,000 Starting Capital (Pesos) : 3,000 - 40,000 2  20 most Profitable Home-based Business Ideas in the Philippines 6. Online Tutoring 7. Graphic Design Business Requires: Laptop, reliable Requires: Graphic design internet, teaching skills in software, computer, internet, art/music. graphic tablet. Purpose: Teach kids art Purpose: Provide customized and music online. graphic design services for businesses/clients. Starting Capital (Pesos): 2,000 - 25,000 Starting Capital (Pesos) : 20,000 - 70,000 2  20 most Profitable Home-based Business Ideas in the Philippines 8. Bills Payment Business 9. Tailoring Services Requires: Point-of-Sale Requires: Sewing (POS) device. machines. Purpose: Offer bills Purpose: Make/alter payment and e-loading clothes, bed sheets, services conveniently. curtains, and floor mats. Starting Capital (Pesos): Starting Capital (Pesos) : 5,000 - 45,000 5,000 - 25,000 2  20 most Profitable Home-based Business Ideas in the Philippines 10. Digital Marketing Agency 11. Homemade Products Business Requires: Computer, reliable (a) Food: Viands, milk teas, internet, digital marketing pastillas, sandwich spreads. skills. (b) Cleaning: Dishwashing Purpose: Offer online liquid, soaps. marketing services for (c) Novelty: Home decor, companies. handicrafts. Starting Capital (Pesos): Starting Capital (Pesos) : 4,000 - 5,000 3,000 - 5,000 2  20 most Profitable Home-based Business Ideas in the Philippines 11. Rice Retailing Requires: Government permit. Purpose: Sell rice as a standalone shop or part of a sari-sari store. Starting Capital (Pesos): 75,000 -120,000 2  20 most Profitable Home-based Business Ideas in the Philippines 13. Blogging 15. Writing Services Require: A creative writer, Required: passion for writing that writes articles, novels, You earn from brand and stories. partnership and sponsored Includes to spend for book: posts. 14. Accessories Business design, editing and marketing fees— before publishing Starting Capital (Pesos) : 2,000 - 5, 000 Require: A flair for fashion and Starting Capital (Pesos) : creativity, website design to 1, 000 - 25, 000 promote products online Produce handmade necklaces and earrings. Starting Capital (Pesos) : 10, 000 - 15, 000 2  20 most Profitable Home-based Business Ideas in the Philippines 16. Home Service Salon 18. Travel Agency Required: Must be familiar Required : Need to have a with booking or ticketing haircutting skills and keep processes abreast of hair style 17. Print on Demand Starting Capital (Pesos) : 50,000 to 70,000 Starting Capital (Pesos) : Required: Can print shirts, 15,000 - 20,000 bags, notebooks, and mugs Starting Capital (Pesos) : Variable 2  20 most Profitable Home-based Business Ideas in the Philippines 19. Coffee Shop 20. Car Wash Need to invest in compact Need to invest in coffee electric pressure washer, shop equipments vacuum cleaner with washer, and other cleaning supplies Starting Capital (Pesos): 5,000 - 15,000 Starting Capital (Pesos) : 30,000 2 Assessment Part I: True or false (1-10) ________1. A business plan is developed in the final phase of the entrepreneurial process. ________2. One of the key steps in screening business opportunities is evaluating their alignment with the entrepreneur's personal values and interests. ________3. The "Finding Approach" to opportunity identification relies heavily on internal resources and creativity. ________4. If a business idea is feasible, it is guaranteed to be viable. ________5. Home-based businesses have primarily remained isolated from broader economic and technological trends. Part I: True or false (1-10) _______6. Both the "Finding Approach" and the "Building Approach" require gathering information from the environment. _______7. Technology advancements are considered a macro-environmental factor that can influence business opportunities. _______8. The entrepreneurial process is a linear and straightforward process. _______9. Home-based businesses are only suitable for individuals with specific skills, such as graphic design or writing. _______10. Viability refers to the profitability of a business idea. Part II. Multiple Choice (11-15) _________11. The "Finding Approach" assumes that: a. Opportunities already exist in the environment. b. The entrepreneur's creativity is the most important factor. c. Market research is not necessary. _________12. Which of the following is NOT a characteristic of the entrepreneurial process? a. It is a linear and straightforward process. b. It involves multiple phases. c. Phases can overlap and interact with each other. ________13. What are some advantages of home-based business EXCEPT: a. More flexibility time management b. Attending the mandatory meeting in the office c. More time to bond with your family and friends Part II. Multiple Choice (11-15) _______14. What does being Innovative mean in businesses? a. Reducing the cost of the expense quality of products and customer satisfaction b. Grabbing the buyer’s interest and demonstrating how to meet their needs effectively c. Imitating competitors to ensure market relevance _______15. Environmental or ecological factors include: a. Changes in consumer tastes b. Risks related to natural disasters c. Industry growth and decline Part III. Enumeration (16-20) 16-20.) Give at least 5 Profitable Home-Based Business Ideas in the Philippines. Part II. Multiple Choice (1-10) ANSWER KEY 1. FALSE 2. TRUE 3. FALSE 4. FALSE 5. FALSE 6. TRUE 7. TRUE 8. FALSE 9. FALSE 10. TRUE Part II. Multiple Choice (11-15) ANSWER KEY 11) B) Opportunities already exist in the environment 12) A) It is a linear and straightforward process. 13) B) Attending the meeting office 14) C) Grabbing the buyer’s interest and demonstrating how to meet their needs effectively 15) B) Risks related to natural disasters www.reallygreatsite.com Thank You!