ENTREPRENEURSHIP

COMPUTER 10
ENGR. JULIE ANN CORTEZ

FINDING VALUE
• People buy for a reason. There should
be something in your product or service
that would give consumers a good
reason to go back and buy more.
• There must be something that will
make you the best option for target
customers; otherwise, they have no
reason to buy what you are selling.
INNOVATION
• Innovation is the introduction of
something new in your product or
service.
• This may be a new idea, a new
method, or a new device.
UNIQUER SELLING PROPOSITION (USP)
• Unique Selling Proposition is the factor
or consideration presented by a seller
as the reason that one product or
service is different from and better
than that of the competition.
Here's how to discover your USP and how to use it to
increase your sales and profit:
• USE EMPHATHY :
Put yourself in the shoes of your customers. Always
focus on the needs of the target customers and forget
falling in love with your own product or service.
• IDENTIFY CUSTOMER’S DESIGN:
It is very important for you to understand and
find out what drives and motivates your customers to
buy your product or service.
• DISCOVER CUSTOMER’S GENUINE REASONS FOR
BUYING THE PRODUCT:
Information is very important in decision making. A
competitive entrepreneur always improve their
products or services to provide satisfaction and of
course retention of customers.
GENERATING IDEAS
FOR BUSINESS
GENERATING IDEAS FOR BUSINESS
• The process of developing and
generating a business idea is not a
simple process. Some people come up
with a bunch of business ideas that are
not really feasible.
Here are some basic yet very important considerations that can
be used to generate possible ideas for business:
• Examine existing goods and services:

There are many ways of improving a product from the
way it is made to the way it is packed and sold.
You can also improve the materials used in crafting the

product.
• Examine the present and future needs:

Look and listen to what the customers, institutions, and
communities are missing in terms of goods
and services.
Sometimes, these needs are already obvious and
identified right away.
• Examine how the needs are being satisfied:

Needs for the products and services are referred to as
market demand.
To satisfy these needs is to supply the products and

services that meet the demands of the market.
• Examine the available resources:

Observe what materials or skills are available in
abundance in your area.
A business can be started out of available raw materials

by selling them in raw form and by processing and
manufacturing them into finished products.
• Read magazines, news articles, and other

publications on new products and techniques or
advances in technology:
You can pick up new business ideas from magazines
such as Newsweek, Reader’s Digest, Business
Magazines, “Go Negosyo”, Know About Business (KAB)
materials, and Small-Industry Journal.
Key Concepts of Selecting a Business Idea
• Once you have identified business
opportunities, you will eventually see
that there are many possibilities
available for you. It is very unlikely that
you will have enough resources to
pursue all of them at once.
In screening your ideas, examine each one in terms of the
following guide questions:
1. How much capital is needed to put up the business?

2. Where should the business be located?
3. How big is the demand for the product? Do many people
need this product and will continue to need it for a long
time?
4. How is the demand met? Who are processing the products
to meet the needs (competition or demand)? How much of
the need is now being met (supply)?
In screening your ideas, examine each one in terms of the
following guide questions:
5. Do you have the background and experiences

needed to run this particular business?
6. Will the business be legal and not against any existing
or foreseeable government regulation?
7. Is the business in line with your interest and
expertise?
BRANDING
• Branding is a marketing practice of
creating a name, a symbol or design
that identifies and differentiates
product or services from the rest. It is
also a promise to your customers.
A GOOD PRODUCT CAN :
• Deliver message clearly,

• Confirm credibility,
• Connect to target prospect,
• Motivate buyers, and
• Concretize user loyalty.
Here are simple tips to publicize your brand:
• Develop a tagline. Write a statement that is

meaningful, impressive, and easy to remember to
capture the essence of your brand.
• Design a logo. Create a logo symbolic of your

business and consistent with your tagline and
displace it strategically.
Here are simple tips to publicize your brand:
• Write a brand message. Select a key message to

communicate about your brand.
• Sustain a brand quality. Deliver a promise of quality

through your brand.
• Practice consistency. Be reliable and consistent to what

your brand means in your business.
In generating a business idea, you should first identify
the type of business suited to your business idea. You
should analyze and scan the potential environment, study
the marketing practices and strategies of your
competitors, analyze strengths, weaknesses,
opportunities, and threats in your environment to ensure
that the products or services you are planning to offer will
be patronized and within easy reach of target consumers.
How to conduct
SWOT Analysis
• Be realistic about the strengths and weaknesses of your
business when conducting SWOT Analysis.
• SWOT Analysis should distinguish between where your

business is today, and where it can be in the future.
• SWOT Analysis should always be specific. Avoid any gray

areas.
• Always apply SWOT Analysis in relation to your
• competition, i.e. better than or worse than your competition.
• Keep your SWOT Analysis short and simple. Avoid complexity

and over analysis.
• SWOT Analysis is subjective.

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COMPUTER 10

ENGR. JULIE ANN CORTEZ

• Examine existing goods and services:

You can also improve the materials used in crafting the

• Examine the present and future needs:

• Examine how the needs are being satisfied:

To satisfy these needs is to supply the products and

• Examine the available resources:

A business can be started out of available raw materials

• Read magazines, news articles, and other

1. How much capital is needed to put up the business?

5. Do you have the background and experiences

• Deliver message clearly,

• Develop a tagline. Write a statement that is

• Design a logo. Create a logo symbolic of your

• Write a brand message. Select a key message to

• Sustain a brand quality. Deliver a promise of quality

• Practice consistency. Be reliable and consistent to what

• SWOT Analysis should distinguish between where your

• SWOT Analysis should always be specific. Avoid any gray

• Keep your SWOT Analysis short and simple. Avoid complexity

• SWOT Analysis is subjective.

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