Republic of the Philippines

CAMARINES NORTE STATE COLLEGE

F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte

COLLEGE OF ENGINEERING

Benitez, Huge Vince V. BSCE 4B

Activity #2 – Technopreneurship

1. What is the difference between an idea and an opportunity? Why is this difference
important to entrepreneurs?

Idea and opportunity are somewhat related to each other, but they are two different
concepts. And most people are confused with these two terms, and they tend to bemuse
these as synonymous. An idea refers to a plan that is triggered by the thinking faculty of
the mind, and a solution to problems that is important in providing a creative spark for a
business. It is a thought or suggestion about a possible course of action—a thought which
may or may not transform into something productive. It is a product of our innovative
minds. Meanwhile, an opportunity can be defined as a favorable time or situation for doing
something. It is something, such as circumstances or situations, that can lead to a
desirable and viable business. An opportunity has proven commercial value, and it is when
the idea is viable and can be used to achieve something. It is very important and crucial
for entrepreneurs to know the difference between an idea and an opportunity to avoid
wasting significant time and money. If one mistakenly thinks that a certain idea is an
opportunity, and invests time and money for it, it will be a great loss and regret. Because
there will still be no assurance that could be used to make money in the future because it
is still just a concept. It is still not sure if it will or will not be feasible and productive. Plus,
it takes a lengthy process for an idea to become an opportunity. We still need to have a
strategic fit—something which the market wants, or the market needs to want what you
have. We need to have a business plan, a team, effective leadership, and resources.
That’s why it will be a total waste of time and money if one does not know the difference
between an idea and an opportunity.

2. Consider opportunities that have occurred to you over the past month and list them
in a column. Then, describe your strong interests and passions, and list them in a
second column. Finally, create a list of your capabilities in a third column. Is there
a natural match of opportunity, interests, and capabilities? If so, does this
opportunity appear to offer a good chance to build an enterprise? What would you
need to do to make this opportunity an attractive chance to build an enterprise
business?

INTERESTS AND
OPPORTUNITIES CAPABILITIES
PASSIONS
Performing and dancing in
Dancing Dancing
front of a crowd
Editing a video presentation
Music Playing Guitar
for an event
Korean Culture and
Reading and Writing Korean
Language
Japanese Culture and
Playing Badminton
Language
Social Media Swimming
Video Editing Video Editing
Math and Science Solving Problems
 Republic of the Philippines
CAMARINES NORTE STATE COLLEGE
F. Pimentel Avenue, Brgy. 2, Daet, Camarines Norte

COLLEGE OF ENGINEERING

There are few natural matches between my opportunities, interests and passions,
and capabilities. My opportunity to perform and dance in front of a crowd, my interest and
passion for dancing, and my capability to dance have a natural match with each other; as
well as my opportunity to edit a video presentation for an event, my interest and passion
for video editing, and my capability to edit videos. Hence, I think that these can offer a very
good chance for me to build an enterprise—a small business that I can use as an additional
source of income, together with my current side job, while I’m still a student.

To make these opportunities an attractive chance to build a small business, I first

need to study, research, and evaluate the profit and the risks of establishing these
enterprises. Probably, I can use my capability to dance to accept performing and dancing
side jobs in events. I can also cover K-Pop dances online and make dance tutorial videos,
in which I can earn money if I get monetized since I also have an interest and passion for
Korean culture, social media, and video editing. I can also accept video editing side jobs
from other people. And again, with the use of social media, I can also use my interest,
passion, and capability for video editing by making vlogs. And if I were to make these
ventures into reality, I need to determine my target audience and consumers, map my
finances, consider my time management, have a strong mission, develop my skills and
repertory more, and don’t hesitate to ask for advice from mentors.

Moreover, I also need to consider my capital investments, just like the costs of
buying comfortable sneakers and clothes that I can use for dancing, the costs of technical
equipment like a stable camera and a ring light, and the maintenance of these things and
my laptop and/or phone where I can edit my videos. Plus, I also need to study my
advertisement plans, how to make my business known, and more. Finally, I also need to
consider the advantages and disadvantages of starting these ventures and businesses
since the competition in the market is a real thing—a lot of more-known people are already
doing these businesses with the same concepts and styles. Thus, I need to think of ways
to make my business unique from others.