ENTREPNEURSHIP

ALLEN JOSHUA R. DOMINGUEZ, LPT, RN, CNN, MAN

SHS Teacher III
 The process of
designing, launching
and running a
new business
 People who create
these businesses are
called
Entrepreneurs
ENTREPRENEURIAL
OPPORTUNITIES
 Developing a business plan
 Hiring the human resources
 Acquiring financial and
material resources
 Providing leadership
 Being responsible for both the
venture's success or failure
CHARACTERISTICS OF AN
ENTREPRENEUR
MOTIVATION
 Entrepreneurs are enthusiastic,
optimistic and future-oriented.
 They believe they’ll be successful and
are willing to risk their resources in
pursuit of profit.
 They have high energy levels and are
sometimes impatient.
 They are always thinking about their
business and how to increase their
market share.
CREATIVITY AND
PERSUASIVENESS
 Successful entrepreneurs
have the creative capacity to
recognize and pursue
opportunities.
 They possess strong selling
skills and are both
persuasive and persistent.
VERSATILITY
 Company workers can usually
rely on a staff or colleagues to
provide service or support.
 As an entrepreneur, you’ll
typically start out as a
“solopreneur,” meaning you will
be on your own for a while.
 You may not have the luxury of
hiring a support staff initially.
VISION
 One of your responsibilities
as founder and head of your
company is deciding where
your business should go.
 That requires vision.
Without it, your boat will be
lost at sea.
 FLEXIBILITY
AND
OPEN-MINDEDNESS
 While entrepreneurs need a
steadfast vision and direction,
they will face a lot of
unknowns.
 You will need to be ready to
tweak any initial plans and
strategies.
 New and better ways of doing
things may come along as well.
DECISIVENESS
 As an entrepreneur, you won’t
have room for procrastination
or indecision.
 Not only will these traits stall
progress, but they can also
cause you to miss crucial
opportunities that could move
you toward success.
SUPERB BUSINESS
SKILLS
 Entrepreneurs are naturally capable of
setting up the internal systems,
procedures and processes necessary to
operate a business.
 They are focused on cash flow, sales and
revenue at all times.
 Successful entrepreneurs rely on their
business skills, know-how and contacts.
Evaluate your current talents and
professional network.
RISK TOLERANCE
 Launching any entrepreneurial
venture is risky.
 Are you willing to assume that
risk?
 You can reduce your risk by
thoroughly researching your
business concept, industry and
market. You can also test your
concept on a small scale.
DRIVE
 As an entrepreneur, you
are in the driver’s seat,
so you must be
proactive in your
approaches to
everything.
PERKS OF BEING AN
ENTREPRENEUR

Millionaire
Help the
community
Decide for
your destiny
No boss
RISK of Being an Entrepreneur
LONG HOURS OF WORK

UNCERTAINTY OF INCOME

HIGH LEVEL OF STRESS

FAMILY RISK
ECONOMIC BENEFITS

Promotes
self help and
employment

Empowers
individual
Are you ready to be the
next Henry Sy,
Steve Jobs and Bill
Gates?
 First investment in your business

IDEA

“USE YOUR BRAIN” – Jack Ma of ALIBABA

 Tools for Business Idea
Generation
1. Solve Your Own Problems
2. Solve Problems of Your Friends
3. Search for Problems
4. Structure the Problem
5. The Business Idea/ Market Matrix
6. Make Connections
 ACTIVITY: Solve your own problem
Think of situation/s that you encounter in your day to day
activity. Ask yourself, what are the things that annoyed you?
You list down the possible solutions to your problems. From
those possible solutions identify product (goods/services)
that will help you solve the problem. By doing this activity
try to generate at least 5 business ideas.

Things that annoyed Possible Solutions Product/s that can

me/Problem/s be developed
 LEARNING COMPETENCY
• Determine who the customers
are in terms of:
–2.2.1 Target market;
– 2.2.2 Customer
TLE_ICTAN11/12EM-Ia-1
Opportunity always lies in
the place where people
complain.
–Jack Ma
POTENTIAL MARKET
 POTENTIAL MARKET

Potential markets are the

most important part of
a business’ future
growth.
Potential Market is the part of
the market you can capture in
the future. It includes all of the
people that are not buying from
you today but could potentially
become customers.
They might buy new products
you have not made yet, or
they might buy products that
you will improve or market or
brand more effectively later.
How Do You Identify a
Potential Market?
 Step 1.
Define your target
customer
You have to identify
the potential market
with your current
audience.
 You must go outside the
current audience and look for
people who are a certain age,
certain sex, and certain
socioeconomic status and
examine their certain needs.
Determine who your target
customer is.

Create a profile of your

typical/expected target
customer.
 Step 2.
Estimate the
number of target
customers
Estimate the total number
of target customers in the
market—companies who
have a profile similar to
that your target customer.
 Step 3.
Determine your
penetration rate
Refine your market size by
assuming a penetration
rate for your category of
product.
 Example of Penetration:

Computers, word-processing and

Internet

Social Medias
DEVELOPING THE
BACK-BONE OF
BUSINESS
ENTERPRISES
 BUSINESS GOALS

• It shows the future and long-

term prospects of the
enterprise.
• It is composed of the vision,
mission, objectives and key
result areas of the business.