Process of Entrepreneurship

1. ENTREPRENEURSHIP 101
Sp tting and
Actualizing Business
Ideas and Opportunities

2. What is an opportunity?
 In a business sense, it is
an idea that has
commercial potential.
 Something you can make
money with, develop a
business around it, or
create value with it.

3. Challenging Topic
 How can we find business opportunities
when we are in crisis?
Isn’t the Philippines in crisis?
Isn’t the world in crisis?


 Worldwide conflicts:
 Egypt
Libya
Yemen
Syria
Thailand
Cambodia





 Leading to runaway oil prices
Tsunami and earthquake that hit Japan


4. The Philippines
 There are nearly 100,000 OFWs in Taiwan.
 Many will lose their jobs because of the current RP-
Taiwan spat
Many workers from the Middle East are being
sent home.
Poverty in the Philippines remain at an all-time
high. (We are behind in the UN goal of fighting
poverty compared to other ASEAN countries.)



5. Frequent Questions:
 How can we open new business in the
Philippines? Aren’t we in crisis?
 Haven’t we discovered everything already?
Aren’t products perfect already?
 Isn’t it too crowded already for a new
enterprise?
 How can you survive as a new enterprise?

6. Answer:
 Really, we don’t know.
 If we go through the process, maybe we will
know.
 More often, the answer is in YOU!
 Opportunity presents itself WHEN YOU
ARE READY.

7. Example:
 When there is a typhoon, what do you see?
Flooding Stalled Vehicles Upper Respiratory
Diseases
Deaths from
Drowning
Destroyed Houses
Fallen Trees &
Power Lines

8. What don’t you see?
Umbrellas and
Raincoats for Sale
Tulak Tirik Boys
Andanyo Boys
New Flood Control
Projects Funeraria
More Sale of Construction
Materials

9. Q: On this page, what do you see?

10. ANSWER:
 Nothing. Just a white page.
 If that’s a market, that’s what an ordinary
mind sees – a solid white wall.
 CROWDED.
 NOTHING.

11. The Entrepreneurial
Mindset sees a hole!
An opportunity to be in that market.

12. Wei Ji

13. Shouldn’t we
make it
Ji Wei?
We look first at the opportunity, and yes,
recognize that there is danger.

14. The Entrepreneurial Mindset
OPPORTUNITY
SCREENING
OPPORTUNITY
SEIZING
OPPORTUNITY
SEEKING

15. OPPORTUNITY SEEKING

16. OPPORTUNITY SEEKING
 Sources of
Opportunity:

 Internal –
Innovation /
Creativity
External


 Macromarket
Micromarket
Analysis
Irritants in the
marketplace

17. Irritants in the Marketplace
 D – Deterrents, Delays
 I – Irritants
 P – Problems
 C – Complaints

18. The Many Sources of Opportunity
Macro-
Environmental
Sources
Consumer
Preferences,
Piques &
Perceptions
Industry &
Market
Sources
Talents, Hobbies,
Interests, Skills,
& Exposure
New Knowledge
Opportunities
from the
Unexpected
Opportunities from
the Future
OPPORTUNITY SEEKING

19. TOOLS – External / Environmental
Analysis
 PESTE
 PESTEL
 EPISTE
 STEER
 SWOT / TOWS

20. TOOLS – External / Environmental
Analysis
 PESTE – Political, Economic, Social,
Technological, Ecological
 PESTEL – PESTE + Legal
 EPISTE – Economic, Political, Informatics,
Technological, Ecological
 STEER – Sociological, Technical, Economic,
Ecological, Regulatory
 SWOT / TOWS

21. OPPORTUNITY
 Issue of Relevance
 All of the Macro and Micro must be relevant / related to the
Enterprise
MACRO (PESTEL)
INDUSTRY
MARKET
MICRO MARKET
Competition
Customer Location

22. FOOD INDUSTRY
 Fresh Food (raw)
 Packaged Food
 Food eaten inside
the house
 Food eaten outside
the house
For your industry, what are the divisions?

23. Micro Market Analysis
COMPETITION
Benchmarking,
Competitor Research
LOCATION
Traffic Count, Going to Office
/ Going Home
CUSTOMER
FGD, UAI
For your enterprise, how do you do a micro market analysis?

24. MARKET – Food Eaten Outside
the House
Fine Dining Casual Fast Food Street Food
Chinese
Grilled
Italian
Filipino
International
Japanese
Mediterranean
Seafood
Fusion
AB C DE FGHIJ...!? 
For your enterprise, what are the markets?

25. INNOVATION

26. Innovation
 Disruptive -
 Social




 Food cart
Street food
Noodle meals
Sachet marketing
E-load / Daily load

27. Innovation
 Disruptive –
 Technology





 VHS  DVD
Film  Digital cameras
Fax machines?
Telephone landline 
Cellphone, VoIP
Wi-Fi
Satellite communications

28. Innovation
 Disruptive –
 Crisis

 As the Tsunami and
earthquake that hit Japan
Effects on construction
technology, nuclear power,
disaster preparedness

29. Innovation (soft)
 What pisses you off?
 What needs are not
satisfied?
 What are new
satisfactions?

30. Innovation (soft)
 BEFORE



 You can’t
Food eaten outside the
house
Movie Theater
Malling
 NOW



 You can
Pizza delivered in 30
mins or less
Home Theater
Online shopping

31. Types of Product Innovation
 Create an entirely
new product
Alter / modify an
existing product
Re-brand /
Reformulate an
existing / old product



32. Internal / Personal
 Past jobs
Hobbies
Social network
Travel




33. Ways to Innovate
 Make it LARGER

Example:







Family size
2-liter
Big TV
Thick Crust
Big Pizza
Jumbo
Airbus 380

34. Ways to Innovate
 Modify – change the



 Name
Color
Container
Shape
 Creative copying

35. Ways to Innovate
 Make it Stronger / Faster










4x your daily calcium needs
Whiter teeth in 1 brushing
Skin whitening in 7 days
Fast relief
Fast-acting
Delivered in 30mins. or less
Be seated in less than 10 minutes
Food served in less than a minute
Overnight package delivery
Instant money remittance

36. Ways to Innovate
 Make it smaller / lighter





 Netbook
iPad
Cellphones in1988 vs. Cellphones
now
Hatchback – smaller, less fuel
consumption
Energy-efficient appliances
Condo-type furniture

37. Ways to Innovate
 Substitute
 Materials
 Methods
Bicycle Washing Machine

38. Materials
 Paper to plastic
 Cork to plastic
 Metal parts in cars to plastic – lighter,
cheaper, easier to make
 Metal to carbon fibre – lighter, stronger
 Leather to leatherette

39. Methods
 Frying to Boiling
Frying to Steaming
Fast cook to Slow cook
Gas cooking to Wood
cooking
Cooked in the Kitchen
to Cooked in front of
you




Sunny Cooker

40. Other Methods (Internal)
 Observatory WALK

 Walk along an avenue or
street
Observe, Observe, Observe
 What customer needs can still be
met?
Observe competition


41. Remember always:
 Start with the CUSTOMER NEEDS


 Be sure there would be a large number who share
the same aspiration / frustration
The customer cannot be completely satisfied.
“I can’t get no satisfaction”

42. Remember always:
 Today – It’s Henry Sy or John Gokongwei
Tomorrow – it’s Hans Sy / Tessie Coson / Lance or Robina Gokongwei
In the distant future – it’s gonna be
 There is no perfect product
 Today’s winners can be tomorrow’s losers



43. YOU ARE THE
INNOVATION!

44. Youand your SKILLS

45. Youand your IMAGINATION
“IMAGINATION IS MORE IMPORTANT THAN KNOWLEDGE”
–Albert Einstein

46. Youand your NETWORK

47. Description / Focus No. of Reg’d Users
General.
Also for businesses
and celebrities.
500 M
General. Popular in
US, Canada, Europe
245 M
“Microblogging“ in 140
characters or less
190 M
General. Popular in
South East Asian
Countries
115 M
Business Networking 80 M
social networking stats

48. Youand your PURPOSE

49. Youand TECHNOLOGY

50. YOU
Welcome to your world!

51. You and
your VISION
“I believe that the nation should dedicate itself to committing the goal
that before the decade is out, of a man landing on the moon and
returning him safely to earth.”
-John F. Kennedy
May 25, 1961

52. “I have a
dream.”
-Martin Luther King

53. Youand your MINDSET
 Nothing is impossible
 I can do it
 I have what it takes

54. Youand your ENTERPRISE
 “If you build they will come.”

55. You and
your
PASSION
It is doing what you love
doing, even when it hurts.

56. Live an INTERESTING
LIFE!
It’s a wonderful world!
You are the universe’s greatest miracle.

57. Process based Improvement Initiatives
Kaizen
ISO 9000
ISO 14000
ISO 18000
OHSAS
ITF
Quality Circles
SGAs
Six Sigma
5-S
TPM
TQM
TPS
Kanban
JIT
Lean MFG.
NVAs
CAPs
CIPs
Special Projects
QC/QA
Standardization