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    Recognize Opportunities, Costumers, and Market: Profitable

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    Ma.Fe Sandrino
    This document discusses opportunity recognition for entrepreneurs. It explains that opportunities can be discovered by observing trends, solving problems, and finding gaps in the market, or they can be created by combining resources in new ways or bringing radical innovations. An entrepreneurial opportunity is defined as a chance to create and deliver innovative value profitably. The document encourages an entrepreneurial mindset of asking "why" and "what if" questions to challenge assumptions and recognize opportunities. Problems are also framed as opportunities to find solutions and new approaches.

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    Recognize Opportunities, Costumers, and Market: Profitable

    Uploaded by

    Ma.Fe Sandrino
    13 views2 pages
    This document discusses opportunity recognition for entrepreneurs. It explains that opportunities can be discovered by observing trends, solving problems, and finding gaps in the market, or they can be created by combining resources in new ways or bringing radical innovations. An entrepreneurial opportunity is defined as a chance to create and deliver innovative value profitably. The document encourages an entrepreneurial mindset of asking "why" and "what if" questions to challenge assumptions and recognize opportunities. Problems are also framed as opportunities to find solutions and new approaches.

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    This document discusses opportunity recognition for entrepreneurs. It explains that opportunities can be discovered by observing trends, solving problems, and finding gaps in the market, or they can be created by combining resources in new ways or bringing radical innovations. An entrepreneurial opportunity is defined as a chance to create and deliver innovative value profitably. The document encourages an entrepreneurial mindset of asking "why" and "what if" questions to challenge assumptions and recognize opportunities. Problems are also framed as opportunities to find solutions and new approaches.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    13 views2 pages

    Recognize Opportunities, Costumers, and Market: Profitable

    Uploaded by

    Ma.Fe Sandrino
    This document discusses opportunity recognition for entrepreneurs. It explains that opportunities can be discovered by observing trends, solving problems, and finding gaps in the market, or they can be created by combining resources in new ways or bringing radical innovations. An entrepreneurial opportunity is defined as a chance to create and deliver innovative value profitably. The document encourages an entrepreneurial mindset of asking "why" and "what if" questions to challenge assumptions and recognize opportunities. Problems are also framed as opportunities to find solutions and new approaches.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Recognize Opportunities, Costumers, and Market

    Reporter: Ma. Fe Sandrino


    BSED MATH 3
    Entrepreneurial Process

    • Idea Generation and evaluation


    • Opportunity Recognition
    • Planning
    • Launch
    • Growth
    • Harvest
    Entrepreneurship begins with generating Idea.
    -To become an opportunity, an idea needs to be evaluated and acted upon.
    -To become a business opportunity, your idea needs to have a potential economic value:

    • It needs to be able to create profit. There have to be customers willing to pay for the product.-
    Profitable
    • It should also be new and innovative.
    • It also needs to be attractive and desirable for people who want to buy it.

    A. In search of opportunity

    There are two ways to recognize opportunities:


    • You can discover them or
    • You can create them yourself and with others.
    Opportunity Discover- search for them in the existing market.
    How? Trough: Observing trends > Solving Problems > Finding Gaps in the Market Place.
    Opportunity Creation- Recognize opportunity in a way that, entrepreneur breaks the ways things are
    done. By combining existing resources.
    - Ideas are not based on existing products or consumers preferences.
    - Entrepreneurs brings radical Innovation to market by making new combination of technology and
    newly gained information.
    - They create demand for a product.

    Therefore, an Entrepreneurial Opportunity is a perceived first-seized-gain-most chance to create and


    deliver innovative value profitably.

    OPPORTUNITY is everywhere.

    The key that opens the door to opportunities is the approach of asking yourself searching
    questions 'Why?' and 'What If?'

    Sample "Why?" and "What If?" Questions

    • Why we always do things this way? What if we do it → differently?


    • Why should we limit ourselves to getting better in what we are doing? What if we change things
    radically?
    • Why should I look at this risk as a problem? What if I try to convert risks into opportunities?
    • Why don't we try to challenge our big competitor's market leadership position? What if we
    create a new market segment?
    • Why should we look at cultural differences as a problem? What if we try to leverage the
    power of our diversity?
    Asking searching questions starts with challenging assumptions. If you do not check assumptions,
    you cannot be good at asking searching questions.
    Remember that knowledge plays opposite two roles.
    Serves as fertile soil for generating new Ideas.
    Entraps people in old ways seeing and thinking.

    Making conscious assumptions is a key tool of a → creative → thinker.


    Assumptive thinking is not the same as guessing, though Making an assumption is more like using
    a tentative step.

    A. Problems are opportunity.


    • Too often we focus on problems and fail to see opportunities right in front of us. When you focus on
    your problems – when you only think of what is wrong – you will only see problems and fail to see
    opportunities and great solutions.
    • "There are no problems – only opportunities"- Entrepreneur thinking.
    • Find the root of the problem and then think about how you can accomplish your goal.
    • Reframe the problem, state it in different words – it might make it much easier to solve.
    • Ask learning SWOT questions to discover
    opportunities in the problem.
    • As you change your attitude and regularly start
    to look for solutions, as you continue to think of
    finding a solution you will begin to discover and
    attract unlimited opportunities.
    • Look for opportunities everywhere. Life's and
    business' ups and downs provide windows of
    opportunity to rediscover your capabilities and new routes towards your vision. Think of using all
    challenges as stepping stones to build the life and business you want.

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