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Opportunity recognition for Entrepreneurs

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Entrepreneurship Opportunity Seeking, Screening and Seizing, In each movement and situation the Entrepreneur view and action

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Opportunity recognition for Entrepreneurs

  1. 1. Entrepreneurship Present to you by: Bidur Pokhrel, Bimal Poudel, Pratik Rai Opportunity Recognition 9'+ufsf] sfk kmf]/]/ klg pd|G5 kLkn l;h{gf zlQm ljZjdf x'b}gslxNo} ljkmn . –/fi6«sljdfwjk|;fbl3ld/] Welcome 
  2. 2. Entrepreneurship and Actualizing Business Ideas and Opportunities Sp tting
  3. 3. 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.
  4. 4. Before Entrepreneurship • How can we open new business in Nepal? • Haven we discovered everything already? Are the products are perfect already? • Is it too crowded already for a new enterprise? • How can you survive as a new enterprise?
  5. 5. And the Answer is • 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.
  6. 6. Example: Umbrellas and Raincoats for Sale New Flood Control Projects More Sale of Construction Materials More Infrastructure Development Flood Stalled VehiclesFallen Trees & Power Lines Flooding As an Entrepreneur When there is problem, what do you see? Did you think about this?????
  7. 7. On this page, What do you see? Entrepreneurial Perception • Nothing. Just a white page. • If that’s a market, that’s what an ordinary mind sees – a solid white wall. The Entrepreneurial Mindset sees a hole! A time and area to enter into the market For an Entrepreneur the Creation, development and Innovation starts from here It can be either Crowded or Nothing
  9. 9. OPPORTUNITY SEEKING • Sources of Opportunity: – Internal – Innovation / Creativity – External • Macro market • Micro market Analysis • Irritants in the marketplace
  10. 10. 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
  11. 11. OPPORTUNITY from Environment • Issue of Relevance – All of the Macro and Micro must be relevant / related to the Enterprise MACRO (PESTEL) INDUSTRY MARKET MICRO MARKET Customer Competition Location COMPETITION LOCATION CUSTOMER Benchmarking, Competitor Research Traffic Count, Going to Office / Going Home For your enterprise, how do you do a micro market analysis? Micro Macro
  12. 12. Innovation • What pisses you off? • What needs are not satisfied? • What are new satisfactions? • BEFORE – You can’t – Food eaten outside the house – Movie Theater – Shopping Mall • NOW – You can – Pizza delivered in 30 minutes around – Home Theater – Online shopping Before Now
  13. 13. Ways to Innovate Make it LARGER Modify Make it smaller / lighterMake it Stronger / Faster
  14. 14. 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. • There is no perfect product • Today’s winners can be tomorrow’s losers
  15. 15. 1. You and your SKILLS YOU ARE THE INNOVATION! 2. You and your IMAGINATION “IMAGINATION IS MORE IMPORTANT THAN KNOWLEDGE” –Albert Einstein 3. You and your NETWORK 4. You and your PURPOSE 5. You and TECHNOLOGY 6. You and your MINDSET • Nothing is impossible • I can do it • I have what it takes 7. You and your ENTERPRISE • “If you build they will come.” 8. You and your PASSION It is doing what you love doing, even when it hurts. 9. 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
  16. 16. YOU Welcome to your world!
  17. 17. Thank you  For your kind attention & active participation