TOPIC 5

BUSINESS
OPPORTUNITIES
 At the end of this topic the
students should be able to:

► Identify business opportunity

Learning
Outcome
► Evaluate and select potential
business opportunity
 5.1 Critical Factors when
starting a business
5.2 Business idea
Content 5.3 Identifying business
Outline opportunities
5.4 Categories of business
5.5 Business Model Canvas
 5.1 Critical Factors when starting a
business

❑ A business Idea
❑ Knowledge or Expertist
❑ Market Demand
❑ Start up Cost
❑ Capital and Finance
❑ Competition
❑ Location
❑ Staff
❑ Technology
ASK YOUR SELF….????

CHECKLIST ON CRITICAL QUESTION YES NO

1.Can I do this business?

2. Do I know the requirements to do this business?

3) Do I possess the requirements to involve in this business?

4) Should I do this business?

5) Is this business the best choice for me?

6) When should I start this business? What do I need to do?

7) Who should I refer to? How could I get advice and help from
them?

8) What are my action plan and planning schedule?

5.2 Business Idea

❑Source of Business Idea

❑Generating new Idea

❖20 Minutes Group Activity

 Common Source of Business

⮚ Personal Experience
⮚ Personal Hobby / Interest
⮚ Visiting Trade/Business Exhibition/Expo
⮚ Interview Successful Entrepreneurs
⮚ Serendipity
⮚ Federal Government
⮚ Consumers
⮚ Distribution Channels
⮚ Social Networks
Generating New Idea Concept:

INVENTION INNOVATION DUPLICATION

• Something which • Change made to • Creative
has not existence replication from
previously been product/idea existing concept
in existence • Example:Linetelephone🡪S • Kedai Kopi Kampung
• Example: martPhone vs Kopitiam
• First telephone
Group Activity: Generate New Idea (IDEA
BANK)

Discuss with a group member on 10 IDEAS of business.

Imagine that you are planning to start a small business
with your group member.

⮚ Used mind mapping technique or IKIGAI to brainstorm the idea

with your group member

⮚ At the end of the session, list down the top 10 IDEAS decided for
this activity

⮚ This activity takes around 20 minutes

5.3 Identify Business Opportunity

❑Idea versus Opportunities

❑ Idea Evaluation Process
⮚ Idea versus Opportunities:

Importance to choose the right idea !!!!

1.Evaluate your idea and
identify which one are the most 2.Not all ideas are
PROMISING opportunities

EVALUATE
YOUR IDEAS

4. Implementing idea THAT ARE GOOD

FIT, improve CHANCES OF SUCCESS 3. Implementing idea
need TIME , MONEY
and EFFORT
⮚ Idea Evaluation Process versus

✔ ELIMINA
Why TE
✔ IMPROV
E
✔ PRIORITI
ZE
⮚ Idea Evaluation Process
✔ STRENGTH
HOW OF
✔ FITS YOUR
THE IDEA
TEMPERAME
✔ PLANNIN
NT
IDEA EVALUATION
PROCES

✔ RESOURCE
G
IDEA EVALUATION PROCES
STEP 1: DECISION MATRIX
ANALYSIS

✔ Using simple table of matrix to find which ideas are

opportunities

✔ Put all ideas in one place and let you put factors that
affect them for analysis. Factors affecting your idea
THE TEMPLATE OF DECISION MATRIX
TABLE
 2.WEIGHTAGE
4.CALCULATE
1.FACTORS AFFECTING YOUR IDEA WEIGHT
SCORE

3.SCORE( 5=EXCELLENT; 0=POOR)

 THE FACTORS

FACTORS SCALE OF SCORE

1.INVESTMENT HARDER& EASY
REQUIRED RISKY/NEED INVESTMENT&
MORE MONEY /LESS MONEY
2.EASE OF EASY TO OPERATE/
OPERATION EASY TO START AND DIFFICULT TO
GROW OPERATE
3.MARKETABILIT MORE CONFIDENT
Y & EASY TO GET DIFFICULT TO
CUSTOMER GET
CUSTOMER
4.FIT WITH CLOSER FIT YOUR
YOUR PASSIONS & LACK OF
INTERESTS & INTEREST PASSIONS/NOT
STRENGTH MUCH
5.PRODUCT SIMILAR PRODUCT STRENGTH
DIFFERENTIATI AVAILBLE ON MORE
ON MARKET DIFFERENTIATE
D PRODUCT/
SERVICE
 THE WEIGHTAGE??

EXAMPLE
:
 PAIRED 5 QUESTIONS
DECISION
COMPARISO FRAMEWOR
MATRIX
N ANALYSIS K

• LIST THE
SCORE IN
SEQUENCE
FROM 10-1
• PICK TOP 5
FOR NEXT
STEP
EXAMPLE:
✔ LIST SCORE IN SEQUENCE (10-1)
✔ PICK TOP 5
STEP 2: PAIRED COMPARISON
ANALYSIS
METHOD
S
METHOD
S
 DECISION
MATRIX

PAIRED
• LIST THE COMPARISO
SCORE IN N ANALYSIS
SEQUENCE
FROM 10-1
• PICK TOP 5
FOR NEXT
STEP
• LIST THE
SCORE IN
SEQUENCE
5 QUESTIONS
FROM 5-1 FRAMEWOR
• PICK TOP 2 K
FOR NEXT
STEP
 STEP 3: 5 QUESTIONS
FRAMEWORK

IDEA EVALUATION
PROCESS
STEP: PROCESS OUTCOME 10
STEP1:DECISION MATRIX SELECT TOP 5 IDEA IDEAS
FROM 10 IDEAS
STEP2:PAIR SELECT 2 BEST IDEA 5
COMPARISON ANALYSIS FROM TOP 5 IDEA IDEAS

STEP 3: 5 QUESTION TO SELECT THE MOST

2
FRAMEWORK BEST IDEA (1 IDEA) FROM
IDEAS
THE 2 BEST IDEA

1
BEST
IDEAS
1.CUSTOMER PROBLEM
-What kind of customer problem can u solve?
-HOW painful is the problem and how your
product and service can solve a problem
-What can the product/ service do to them (Does
it solve their problem, Fullfil their needs and
valueable to them?

2. IMPLEMENTATION / EXECUTE
-How are you going to do it?
-What will be the main activity of the business?
Whats the location, distribution, technology and
money
Whatknowledge and business skills are required
 3. MARKET SIZE–How many customer are
willing to buy from you?
MARKET:
a) Current & potential customer
b)Willing and able to buy
c)Buyers and their needs
THINK ABOUT:
A)MARKET SHARE
B)1ST CUSTOMER
C)100TH CUSTOMER

4. UNIQUE SELLING POINT (USP)

-HOW IT IS UNIQUE?
A)INNOVATION
B)YOUR TEAM
C)OUTSTANDING PRODUCT OR SERVICES
5. COMPETITORS- HOW CAN YOU DEFEND AGAINSTS
OTHER?

-All sellers collectively from the same industry

-Idustry includes organizations offering similar product

Example:
-i.e Market for workplace: Snacks
:Packed snack industry
: Health and snack bar industry
Fresh snack industry
So….
Based on the question , just choose your best option after answering
the frame work question.

I CHOOSE
Example SMOOTHIES

V
S
CATEGORIES OF BUSINESS
 BUSINESS CATEGORY

Producing
Producing Goods
Goods Providing
Providing Services
Services

Capital Labor
Intensive Intensive
5.4 Business Model Canvas

❑ What & Why BMC

❑ Elements of BMC
WHAT AND WHY BMC??
ELEMENT OF BMC
1.CUSTOMER SEGMENTS
2.VALUE PREPOSITION
3.CHANNELS
4.CUSTOMER RELATIONSHIP
5. REVENUE
5. KEY RESOURCES
6. KEY ACTIVITIES
EXAMPLE OF KEY CATEGORY OF KEY
ACTIVITIES
 SUPERMARKET

• Product updating
• Visiting suppliers
• Buying Products
• Ensuring stocks
• Logistic
• Selling

FOOD TRUCK

• Creating on trend recipes

• Multi sources material
• Multi destinations
• Delivery
7. KEY PARTNERS
8. COST STRUCTURES
REFLACTION/ CONCLUSION
✔ There are 5 important critical factors should be consider when
think about business idea

✔ There are 2 types of business which are services and product

✔ Not all business ideas are opportunities

✔ Idea evaluation process which consist of three main stages

(decision matrix, pair comparison analysis and 5 Framework
Question ) is simple method help entrepreneur to start a business
from scratch.

✔ Once the idea is chosen, BMC is a quick tools can be used to

describes the organization, delivers and captures value of the idea
References 1. 1.Training of Trainers Session Slide on
Enterpreneurship by UKM CESMED , 2021

2. 2. Sodri, A,. Ismail, Ab. W., and Zarida , H.

Fundamental Of Enterpreneurship, Oxford
Fajar, 2013