ENTREPRENEURSHIP 101

Sp tting and
Actualizing Business
Ideas and Opportunities
April 21, 2011
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.
Keywords

 MBA – My Bank Account

 CHAMP
 Currency
 (H) atik
 Anda
 Money
 Pera
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
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.)
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?
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.
Example:
 When there is a typhoon, what do you see?

Flooding Stalled Vehicles Upper Respiratory

Diseases

Fallen Trees &

Destroyed Houses Deaths from
Power Lines
Drowning
What don’t you see?

Umbrellas and
Andanyo Boys Tulak Tirik Boys Raincoats for Sale

New Flood Control More Sale of Construction

Projects Funeraria
Materials
Q: On this page, what do you see?
ANSWER:

 Nothing. Just a white page.

 If that’s a market, that’s what an ordinary
mind sees – a solid white wall.
 CROWDED.
 NOTHING.
 The Entrepreneurial Mindset
sees a hole!

“CHERCHEZ LE CRANEAU”
An opportunity to be in that market.
Wei Ji
Shouldn’t we make it
Ji Wei?

We look first at the opportunity, and yes,

recognize that there is danger.
OPPORTUNITY SEEKING
The Entrepreneurial Mindset

OPPORTUNITY
SEEKING

OPPORTUNITY
SCREENING

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

 D – Deterrents, Delays
 I – Irritants
 P – Problems
 C – Complaints
The Many Sources of Opportunity

Macro- Industry &

Environmental Market
Sources Sources

Consumer
Talents, Hobbies,
Preferences,
New Knowledge Interests, Skills,
Piques &
& Exposure
Perceptions

Opportunities
Opportunities from
from the
the Future
Unexpected

OPPORTUNITY SEEKING
TOOLS – External /
Environmental Analysis

 PESTE
 PESTEL
 EPISTE
 STEER
 SWOT / TOWS
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
OPPORTUNITY
MACRO (PESTEL)

INDUSTRY

MARKET

MICRO MARKET
Customer Competition Location

 Issue of Relevance
 All of the Macro and Micro must be relevant / related to the
Enterprise
FOOD INDUSTRY

 Fresh Food (raw)

 Packaged Food
 Food eaten inside
the house
 Food eaten outside
the house

For your industry, what are the divisions?

Micro Market Analysis
CUSTOMER
FGD, UAI

COMPETITION LOCATION
Benchmarking, Traffic Count, Going to Office
/ Going Home
Competitor Research

For your enterprise, how do you do a micro market analysis?

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?

INNOVATION
Innovation – Mga Pagbabago

 Disruptive - nagbabago
 Social
 Food cart
 Street food
 Noodle meals
 Sachet marketing
 E-load / Daily load
 Innovation – Mga Pagbabago

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

 Disruptive – nagbabago
 Crisis
 As the Tsunami and
earthquake that hit Japan
 Effects on construction
technology, nuclear power,
disaster preparedness
Innovation (soft)

 What pisses you off?

 What needs are not
satisfied?
 What are new
satisfactions?
Innovation (soft)

 BEFORE  NOW
 You can’t  You can
 Food eaten outside the  Pizza delivered in 30
house mins or less
 Movie Theater  Home Theater
 Malling  Online shopping
Types of Product Innovation

 Create an entirely
new product
 Alter / modify an
existing product
 Re-brand /
Reformulate an
existing / old product
Internal / Personal

 Past jobs
 Hobbies
 Social network
 Travel
Ways to Innovate

 Make it LARGER
 Pinakamalaki,
pinakamalakas
 Ex:
 Family size
 2-liter
 Big TV
 Thick Crust
 Big Pizza
 Jumbo
 Airbus 380
Ways to Innovate

 Modify – change the

 Name
 Color
 Container
 Shape
 Creative copying
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
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
Ways to Innovate

 Substitute
 Materials
 Methods

Bicycle Washing Machine

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
 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
Other Methods (Internal)

 SERENDIPITY WALK
 Walk along an avenue or
street
 Observe, Observe, Observe
 What customer needs can still be
met?
 Observe competition
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”
Remember always:

 There is no perfect product

 Today’s winners can be tomorrow’s losers
 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
YOU ARE THE
INNOVATION!
You and your SKILLS
You and your IMAGINATION

“IMAGINATION IS MORE IMPORTANT THAN KNOWLEDGE”

–Albert Einstein
You and your NETWORK
social networking stats
Description / Focus No. of Reg’d Users
General. 500 M
Also for businesses
and celebrities.
General. Popular in 245 M
US, Canada, Europe

“Microblogging“ in 140 190 M

characters or less

General. Popular in 115 M

South East Asian
Countries
Business Networking 80 M
You and your PURPOSE
You and TECHNOLOGY
YOU

Welcome to your world!

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
“I have a
dream.”

-Martin Luther King

You and your MINDSET

 Nothing is impossible
 I can do it
 I have what it takes
 HINDI PWEDE
ANG HINDI
PWEDE.
You and your ENTERPRISE

 “If you build they will come.”

You and
your
PASSION
It is doing what you love
doing, even when it hurts.
Live an
INTERESTING LIFE!

It’s a wonderful world!

You are the universe’s greatest miracle.