OPPORTUNITY

SCREENING
 The Personal Screen
In screening opportunities, the entrepreneur first has to consider his
or her preferences and capabilities by asking three basic questions:
1. Do I have the drive to pursue this business opportunity to the
end?
2. Will I spend all my time, effort, and money to make the
business opportunity work?
3. Will I sacrifice my existing lifestyle, endure emotional
hardship, and forego my usual comforts to succeed in this
business opportunity?
If “YES” is your answer to all of the above, then you can begin
your earnest pursuit of that opportunity.
 The 12 Rs of Opportunity
Screening
1. Relevance to vision, mission, and objectives of the entrepreneur.
The opportunity must be aligned with what you have as your
personal vision, mission, and objectives for the enterprise you want
to set up.
2. Resonance to values. Other than vision, mission, and objectives,
the opportunity must match the values and desired virtues that you
have or wish to impart.
3. Reinforcement of Entrepreneurial Interests. How does the
opportunity resonate with the entrepreneur’s personal interests,
talents, and skills?
4. Revenues. In any entrepreneurial endeavor, it is important to
determine the sales potential of the products or services you want
to offer. Is there a big enough market out there to grab and nurture
for growth?
 The 12 Rs of Opportunity
Screening
5. Responsiveness to customer needs and wants. If the opportunity
that you want to pursue addresses the unfulfilled or underserved
needs and wants of customers, then you have a better chance of
succeeding.
6. Reach. Opportunities that have good chances of expanding through
branches, distributorships, dealerships, or franchise outlets in order
to attain rapid growth are better opportunities.
7. Range. The opportunity can potentially lead to a wide range of
possible product or service offerings, thus, tapping many market
segments of the industry.
8. Revolutionary Impact. If you think that the opportunity will most
likely be the “next big thing” or even a game-changer that will
revolutionize the industry, then there is a big potential for the
chosen opportunity.
 The 12 Rs of Opportunity
Screening
9. Returns. It is a fact that products with low costs of production and
operations but are sold at higher prices will definitely yield the
highest returns on investments. Returns can also be intangible;
meaning, they come in the form of high profile recognition or
image projection.
10. Relative Ease of Implementation. Will the opportunity be
relatively easy to implement for the entrepreneur or will there be a
lot of obstacles and competency gaps to overcome?
11. Resources Required. Opportunities requiring fewer resources
from the entrepreneur may be more favored than those requiring
more resources.
12. Risks. In an entrepreneurial endeavor, there will always be risks.
However, some opportunities carry more risks than others, such as
those with high technological, market, financial, and people risks.
Factors That Are Contained in
a Pre-feasibility Study
• Market potential and prospects

• Availability and appropriateness of technology

• Project investment and detailed cost estimates

• Financial forecast and determination of financial

feasibility
THINGS TO CONSIDER IN
WRITING THE FEASIBILITY
STUDY
1. A more in-depth study of market potential to
ensure that the business proposal will reach the
forecasted sales figures
2. Proof that the product or services being offered
has the right design, attributes, specifications and
preferred features
3. Proof that the entrepreneur and his or her team
have the necessary experience, skills, and
capabilities to maximize the venture’s chances of
success
THINGS TO CONSIDER IN
WRITING THE FEASIBILITY
STUDY
4. Legal visibility
5. More detailed costing on the different
assets and more justification for the
production and operating expenses
6. More thorough analysis of the
technology and its sustainability
OPPORTUNITY
SEIZING
THE QUESTION FOR THE
ENTREPRENEUR IN OPPORTUNITY
SEIZING IS…

“Will I be able to manage, to my advantage,

the critical success factors and avoid the
critical failure factors?”
FACTORS TO CONSIDER IN STARTING A BUSINESS

1. FOCUS AND DIRECTION

2. SOURCES OF CAPITAL
3. GOOD NETWORK
4. LEGAL REQUIREMENTS
5. DEGREE OF RISK
6. RESEARCH AND DEVELOPMENT
7. PERSONAL COMPETENCIES
8. AVAILABILITY OF RESOURCES
TYPES OF BUSINESS ACCORDING TO SIZE

1. MICRO ENTERPRISE
2. COTTAGE ENTERPRISE
3. SMALL ENTERPRISE
4. MEDIUM ENTERPRISE
5. LARGE ENTERPRISE

TYPES OF BUSINESS ACCORDING TO OWNERSHIP

1. SINGLE PROPRIETORSHIP
2. PARTNERSHIP
3. CORPORATION
4. COOPERATIVE
TYPES OF INDUSTRIES ACCORDING TO INDUSTRY CLASSIFICATION

1. AGRICULTURE, FORESTRY AND FISHING

2. MINING AND QUARRYING
3. MANUFACTURING
4. CONSTRUCTION
5. WHOLESALE AND RETAIL TRADE; REPAIR OF MOTO VEHICLES AND MOTORCYCLES
6. TRANSFORTATION AND STORAGE
7. ACCOMODATION AND FOOD INDUSTRY
8. INFORMATION AND COMMUNICATION
9. REAL ESTATE ACTIVITIES
10. PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES
11. ADMINISTRATIVE AND SUPPORT SERVICES ACTIVITIES
12. ARTS, ENTERTAINMENT AND RECREATION
13. PUBLIC ADMINISTRATION AND DEFENSE
14. EDUCATION
15. HUMAN, HEALTH AND SOCIAL WORK ACTIVITIES
16. OTHER SERVICE ACTIVITIES
GOVERNMENT SUPPORT AND LEGAL REQUIREMENTS

1. FINANCE
A. MICRO FINANCING PROGRAMS
B. SME FINANCING PROGRAMS
2. MARKETING
3. TRAINING AND HUMAN RESOURCE DEVELOPMENT
4. PRODUCT DEVELOPMENT AND TECHNOLOGY ASSISTANCE
5. LEGAL REQUIREMENTS
A. REGISTERING WITH DTI
B. REGISTERING WITH SEC
THE BUSINESS PLAN OUTLINE
1. EXECUTIVE SUMMARY
2. MANAGEMENT AND ORGANIZATIONS
3. PRODUCT/SERVICE PLAN
4. MARKET PLAN
5. FINANCIAL PLAN
DESIGNING, PROTOTYPING, AND
TESTING THE PRODUCT

Designing means that the entrepreneur must render the concept

and translate it into its very physical and very real dimensions
(measurement). This entails building a prototype of the product
that will be ready for actual testing by the entrepreneur and
then, later on, subject to testing by potential customers through
focus group discussions (FGD), surveys, product
demonstration sessions, and the like.
DESIGNING, PROTOTYPING, AND
TESTING THE PRODUCT

Designing means that the entrepreneur must render the concept

and translate it into its very physical and very real dimensions
(measurement). This entails building a prototype of the product
that will be ready for actual testing by the entrepreneur and
then, later on, subject to testing by potential customers through
focus group discussions (FGD), surveys, product
demonstration sessions, and the like.
THANK YOU FOR
LISTENING