MODULE 1 3.

) Self-efficacy
4.) Need for achievement
THE ENTREPRENEURIAL MIND ‘INTRODUCTION’
5.) Layers of competency
-------- 6.) Ambition
7.) Willingness to learn
IMPORTANCE OF ENTREPRENEURSHIP IN 8.) Strong initiative
EDUCATION 9.) Adaptability and flexibility
-Entrepreneurship education aids students from 10.) Willingness to take risks
all socioeconomic backgrounds to think outside 11.) Interpersonal skills
the box and nurture unconventional talents and
skill talents and skills. It creates opportunities,  Focus of control - determine the state to
ensures social justice, instills confidence and which a person agreed that their actions
stimulates the economy. Entrepreneurship can directly affect a situation or that
they can control a result.
 Entrepreneurship as a key driver to our
economy  Specific goal settings - Should be
 Entrepreneurship is a lifelong learning motivated to set goals, particularly
process business growth objectives Goals that
 Entrepreneurship will energize school are specific, measurable, and attainable
management Realistic and time bound
 Entrepreneurship will transform
learners to be innovators  Self-efficacy - believe in their own ability
or self-confidence Will persevere even in
the face of setbacks, will take negative
THE CONCEPT OF ENTREPRENEURSHIP feedback more positively and use
feedback to improve their performances
1.) Entrepreneur
2.) Entrepreneurship
 Need for achievement - must have a
3.) Enterprise
high need for achievement take
responsibility for outcomes
 Entrepreneur (Person) (derived from
the French root entreprendre meaning
 Layers of competency - universal
to begin something and to undertake
competencies occupying the bottom
 Entrepreneurship (Process of action) -
portion of the pyramid Specific
science of converting processed ideas
competencies located near to the top.
into a remarkable business venture
 Enterprise (Object) a business or
 Ambition - must be motivated,
company project that is especially
persistent, and persevere even in the
difficult, complicated or risky.
face of situational challenges Learners
embrace new challenges while achieving
ENTREPRENEURIAL COMPETENCIES to exceed set expectations and
standards
1.) Focus of control
2.) Specific goal settings
  Willingness to learn - often pursue 3.) Organizing
opportunities to acquire new skills and ⮚Plan and prioritize work to ensure time
competencies is managed effectively
⮚When goals are not met, they take
 Strong initiative - they frequently work necessary steps to get projects back on
independently to achieve task master, track
regardless of the extra effort necessary 4.) Checking, examining recording
to do so ⮚Ability to maintain confidential
records, easily locate and complete
 Adaptability and flexibility - must learn appropriate forms and paperwork,
how to be a highly flexible and adaptable detect errors and make necessary
often deal very well with a unique ability corrections
to choose actions even without all 5.) Planning
necessary information ⮚Must be specific about the direction of
their venture and the strategy they will
 Willingness to take risks - not only are adopt.
successful learners willing to take
consequences, they can also identify and 6.) Business principles
calculate risk
⮚Must understand the basic principles
 Interpersonal skills - They are very of business (e g market knowledge,
insightful with regards to the behavior of economic principles, and ethical
others understanding motives and practices)
actions, quickly aware of strong
7.) Computer competency
relationships, and both verbal and non-
verbal behaviors ⮚Must be competent in the use of basic
computer hardware and software

8.) Workplace competencies

INDUSTRY WIDE COMPETENCIES WORK
COMPETENCIES ⮚The application of knowledge, skills,
1.) Networking/collaboration attitudes, values and behaviors in the
workplace
⮚Ability to build professional
relationships ⮚Many successful entrepreneurs place
⮚Perceived as trustworthy great value on their industry experiences
⮚Can negotiate with competitors, prior to launching their own venture, as
identify mutual goals workplace competencies

9.) High Growth, High Value

2.) Creative/ critical thinking
Entrepreneurship
⮚Easily identify what is missing from
current product streams and have Entrepreneurs typically offer incentive
imagination, creativity and empathy compensation, manage business
⮚Can analyze problems and creative operations, build a strong
innovative solutions entrepreneurial culture around
 determination and high work ethic, and 15.) Problem solving and decision making
form effective boards of directors and ⮚ They can generate, evaluate, and
advisors implement solutions to difficult
problems
10.) Innovation creation
⮚ They locate and utilize relevant
Apply their creativity to the formulation information, and when necessary,
of inventive systems and products. They generate alternative solutions.
have an “opportunity orientation”
assessing changes in trends, identifying
small niche or group of markets, and QUALITIES OF AN ENTREPRENEUR
seeking out opportunities to improve
services and products 1.) Disciplined
2.) Confidence
11.) Marketing 3.) Open Minded
4.) Self-Starter
Competent in both executing strategies 5.) Competitive
that promote their products and 6.) Creativity
establish client/customer relationships. 7.) Determination
They conduct market analyses, set 8.) Strong People Skills
pricing objects and customer objections 9.) Strong Work Ethic
into sales acceptance 10.) Passion

12.) Business operations IMPORTANCE OF AN ENTREPRENEUR

Its importance can be expressed in the form

Entrepreneurs performs business mentioned below:
operations that are able to both carry
out daily operations, such as scheduling 1.) Provides employment to the people
manpower and maintaining inventories 2.) Contributes towards research and
of goods and management human development system Almost
capabilities 3.) Creates wealth for the nation and for the
individuals as well
13.) Risk assessment management
FUNCTIONS OF AN ENTREPRENEUR

Can handle risk management and can The main functions of an entrepreneur are
take into account legal actions. Stay grouped in three categories
informed of business laws and
1.) Risk bearing functions,
regulations, and bond to determine
ways to prevent themselves against 2.) Administrative and decision making
failure. functions, and

14.) Financial management a) Conceiving the Idea of Business

Competent at accounting and funds b) Estimation of Details of Business and
management managing cash flows and Implementation of the Same
preparing estimated and projected c) Supervision and Control of Business
Activities
balance sheets
 d) Innovation strengths and weaknesses are internal factors to
the entrepreneur while the opportunities and
4.) Distributive functions (responsibility of threats are external factors
the organizer)

----------------------------------------------------------------
The product must be evaluated along the
MODULE 2 following areas:

RECOGNIZING A POTENTIAL MARKET 1.) Product Strength in the Market must

have the following

a.) AVAILABLE TECHNOLOGY IN

FACTORS TO CONSIDER OF A NEW
PRODUCT PROCESSING
ENTREPRENEUR
b.) THE SOURCE OF RAW
1.) Know your Product or Service
MATERIALS MUST BE
2.) Analyze the Market Potentials
ABUNDANT AND AT LOWER
3.) Determine the Marketing Strategy
PRICE
4.) Know the Competitors
5.) Do not set on your Laurels c.) SKILLED WORKERS MUST BE
AVAILABLE
Environmental Scanning
d.) CAPITAL INVESTMENT IN
1.) Business Location for Small
MACHINERY AND OPERATING
Entrepreneurs
EXPENDITURES
a) Rent and Space
b) Terms of Lease Agreement e.) EXPERTISE AND TECHNICAL
c) Types of Goods or Merchandise SKILLS OF THE MANAGEMENT
d) Income Level of Prospective TEAM
Customer
e) Prospective Sales Volume
f) Municipal or City Ordinances 2.) Characteristics of Weak Products
including taxes and fees and Weak Management
g) Location of the Area
a.) POOR QUALITY AND HIGH
2.) Location for Small Industrial Plant or PRICE
Manufacturing Facilities b.) PRODUCT DESIGN AND
a) Land Area APPEAL
b) Facilities for Expansion
c) Building and Other Utilities c.) PRODUCT COST
d) Plant Site Accessibility d.) SUPPLY AND DEMAND

e.) WEAK PRODUCT

STRENGTH, WEAKNESSES, OPPORTUNITIES MANAGEMENT
AND THREATS (SWOT) – SWOT ANALYSIS
Opportunities carries with it some risk involved
and this should be look into carefully. The
 3.) Sustainable Product Opportunities 3.) Show the potential of your business to
in the Market investors or collaborators

a.) PRODUCT DEMAND 4.) Increase your profit

b.) PRESENCE OF POOR 5.) Create a strategic plan when there will be
QUALITY IN THE MARKET changes in the economy or market

c.) GOVERNMENT POLICIES

AND SUPPORT
VALUE PROPOSITION – A value proposition
d.) LIBERAL CREDIT TERMS AND refers to the value a company promises to
INTEREST RATES deliver to customers should they choose to buy
their product. The proposition is an easy to
understand reason why a customer should buy a
4.) Treats to Product Profitability and product or service from that business
Market Expansions

a.) ENTRANCE COMPETITION

HOW TO DEVELOP A VALUE PROPOSITION?
b.) THE SUPPLY OF RAW
 Understand the benefits customers
MATERIALS
receive.
c.) THE EMERGENCE OF  Connect benefits to the value
LEFTWING LABOR UNIONS  Target your audience
 Differentiate the Product and Service
 Put everything into a clear and easy to
 SETTING UP A SMALL BUSINESS read sentence
 WHO CAN START A BUSINESS?  Place it everywhere
 HOW CAN I ARRANGE MY CAPITAL?  Test its effectiveness
 HOW CAN I SELECT THE LINE OF RIGHT
BUSINESS FOR ME?
7 PROVEN TEMPLATES FOR WRITING A VALUE
 WHAT IS THE RIGHT LOCATION OF MY
BUSINESS? PROPOSITION THAT WORK
 HOW TO SELECT YOUR BUSINESS
 Geoff Moore's Value Positioning
WORKFORCE?
Statement

IMPORTANCE OF POTENTIAL MARKET

The potential market allows you to:

1.) Identifying new customers to ensure the

future of your business

2.) Think proactively about ways for your

business to grow and change
 Venture Hacks' High Concept Pitch WHAT TO SELL HOW TO SELECT THE RIGHT
PRODUCT FOR YOUR BUSINESS

1. What are your primary considerations

for choosing a particular product?
2. C an you meet the needs of the customer
and solve a specific problem?
3. How capable are you to produce the
 Steve Blank's XYZ product?
4. What is the size of your potential
reachable market?
5. Would you need to comply with
government rules and regulations?
 Vlaskovits Cooper's CPS 6. If a similar product exists, can your
product be superior in its functionality,
presentation or marketing?
7. What barriers must be overcome for a
potential new product entry?
8. What are the potential sales, growth,
profits, and time for payback?

 Dave McClure's Elevator Ride

MODULE 4

THE MARKET

IDENTIFY THE MARKET PROBLEM

In building product, entrepreneurs can

 David Cowan's Pitchcraft meet customers’ needs. In identifying
market problem, the following can be
considered:

1. Existing customers are the people

who have already purchased the
product you are selling.

2. Target market users are the people

 Eric Sink's Value Positioning
in your target market who are not
currently looking for a solution.

3. Prospects are the people who have

not yet purchased your product but
have an intention to buy.
Tips in Identifying Market Problem
4. Market share – is a percentage of total sales
1. Focusing only on innovation and the volume in a market captured by a brand,
competition product or company.
2. Focusing only on customers
3. Focusing only on revenue
4. Stated vs. Silent Market needs PROBLEM-SOLVING RESEARCH

1. Distribution Research: determining on how

transfer the product from the manufacturer to
HOW TO EVALUATE MARKET PROBLEM? ultimate user.
1. Consider if the market problem is 2. Market segmentation: grouping customers
urgent, if yes, consider necessary by similar characteristics or similar purchase
actions by identifying alternative behaviors.
courses of action (ACA) then
enumerating their advantages and 3. Pricing research: determining the ideal price
disadvantages. for the product. Setting the price for the
product is one of the most important
2. Evaluate if the market problem is marketing steps.
pervasive or easily diffused, if yes,
think for a temporary solution. 4. Product research: testing the new or revised
products or completing test marketing.
3. Determine if the buyers will pay to
have this problem solved. 5. Promotional research: determining the best
research in the area of disseminating
PROBLEM-IDENTIFICATION RESEARCH information.
By conducting new market research projects,
learn can discover problem or opportunity.
You could discover any of the following factors FACTORS IN DETERMINING ECONOMIC
through problem-identification research: GROWTH

1. Brand Image – is the impression in The Filipino Values and Culture

customers’ mind of brand’s total personality.
1. Love for the imported Products.
2. Market Characteristics – describes 2. Our values of “Bahala Na”.
attributes of the buyers in making decision 3. Our Crab Mentality.
related in purchasing a certain product. 4. The Mañana Habit.
5. The Value of Time.
3. Market Potential – is the estimated 6. Our Values of “Hiya”.
maximum total sales revenue of all suppliers of 7. Fiesta and Social Occasions
a product in a marketing during a certain
product.
MARKET ANALYSIS WRITING A DETAILED BUSINESS PLAN
A market analysis is a quantitative and
qualitative assessment of a market A business plan is a document that describes
ability to respond positively. your business in terms of what it does, the
products and services it offers, your business
How to do a Market Analysis? strategy and business goals, and your action
plan outlining how you plan to achieve your
This is show to the investors that company goals and earn money.
knows their target market. It is large enough to
build a sustainable business. Writing a business plan shouldn’t be
complicated. In this step-by-step guide you
The following activities can be recommended:
will quickly and easily write a business plan
1. Demographics and Segmentation that will get the results you want:
2. Target Market
1.) Executive Summary.
3. Market Need
4. Competition The critical components of a winning
executive summary:
Barriers to Entry
These are the hindrances or something material o One sentence business
that block or intend to block passage. overview.
o Problem.
Here are a few examples of barriers to entry:
o Solution.
o Target market.
1. Investment (project that requires a huge
of investments) o Competition.
o Company overview and team.
2. Technology (application of the o Financial summary.
combination of scientific and o Funding requirements
engineering knowledge) o Milestones and traction.

3. Brand (the huge marketing costs 2. Opportunity. There are four main chapters
required to get a certain level of in a business plan—opportunity, execution,
appreciation) company overview, and financial plan.

4. Regulation (licenses and permits in The problem and solution.

particular) Start the opportunity chapter by
describing the problem that you are
5. Access to resources (exclusivity with solving for your customers.
suppliers, accessibility of suppliers)
Target market
6. Access to distribution channels Now that you have detailed your
(exclusivity with distributors, availability problem and solution in your business
of intermidiaries) plan, it’s time to turn your focus
toward your target market: Who are
7. Location (place, venue where the business you selling to?
is located)
Market analysis and market research 3. Execution. Now that you’ve completed the
If you are going to do a market opportunity chapter, you’re going to move on
analysis, start with some research. to the execution chapter, which includes
First, identify your market segments everything about how you’re actually going to
and determine how big each segment make your business work.
is.

Marketing and sales plan

TAM, SAM, and SOM The marketing and sales plan section
A good business plan will identify the of your business plan details how you
target market segments and then plan to reach your target market
provide some data to indicate how fast segments (also called target
each segment is growing. marketing), how you plan on selling to
those target markets, what your
• TAM: Your Total Available or
pricing plan is, and what types of
Addressable Market (everyone you
activities and partnerships you need to
wish to reach with your product)
make your business a success.
• SAM: Your Segmented Addressable
Your positioning statements
Market or Served Available Market
The first part of your marketing and
(the portion of TAM you will target)
sales plan is your positioning
• SOM: Your Share Of the Market (the statement.
subset of your SAM that you will
Pricing
realistically reach—particularly in the
Once you know what your overall
first few years of your business)
positioning strategy is, you can move
Your ideal customer on to pricing.
When you have your target market
segments defined, it’s time to define
o Covering your costs.
your ideal customer for each segment. o Primary and secondary profit
Key customers center pricing.
The final section of your target market o Matching the market rate.
chapter should discuss key customers o Cost-plus pricing.
o Market-based pricing.
Competition o Value pricing.
Immediately following your target
market section, you should describe Promotion
your competition With pricing and positioning taken care
of, it’s time to look at your promotion
Future products and services strategy.
All entrepreneurs have a vision of
where they want to take the business Packaging
in the future if they are successful. If you are selling a product, the
packaging of that product is critical. If
you have images of your packaging, describe your technology and what
including those in your business plan is your “secret sauce” is.
always a good idea
Distribution
Advertising For product companies, a distribution
Your business plan should include an plan is an important part of the
overview of the kinds of advertising complete business plan.
you plan to spend money on.
Direct distribution. Selling
Public relations
directly to consumers is by far
Getting the media to cover you—PR—
the most simple and most
can be a great way to reach your
profitable option.
customers.

Content marketing Retail distribution. Most large

A popular strategy for promotion is retailers don’t like the hassle of
engaging in what is called content dealing with thousands of
marketing. Content marketing is what individual suppliers
Business plans is all about. Manufacturers’
representatives. These are
Social media typically salespeople who work
These days, having a social media for a “ripping” agency
presence is essentially a requirement
for the vast majority of businesses. OEM. This stands for “original
equipment manufacturer.” If
Strategic alliances your product is sold to another
As part of your marketing plan, you company that then
may rely on working closely with incorporates your product into
another company in a form of their finished product, then
partnership. you are using an OEM channel.
.
Operations Milestones and metrics
The operations section is how your A business plan is only a document on
business works. It’s the logistics, paper without a real path to get the
technology, and other nuts and bolts. work done, complete with a schedule,
defined roles, and key responsibilities
Sourcing and fulfillment
If your company is buying the products Traction
it is selling from other vendors, it’s While milestones look forward, you
important to include details on where will also want to take a look back at
your products are coming from, major accomplishments that you have
already had.
Metrics
Technology In addition to milestones and traction,
If you are a technology company, it’s your business plan should detail the
critical for your business plan to
 key metrics that you will be watching show if you’re making a profit or taking
as your business gets off the ground. a loss.

Key assumptions and risks A typical P&L will be a spreadsheet that

Finally, your business plan should includes the following:
detail the key assumptions you have 1. Sales (or income or revenue)
made that are important for your 2. Cost of goods sold (COGS)
business’s success. 3. Gross margin.
4. Operating expenses.
5. Total operating expenses.
4. Company overview and team. In this
chapter, you’ll review the structure of your 6. Operating income.
company and who the key team members are. 7. Interest, taxes, depreciation, and
amortization.
8. Total expenses.
Company overview 9. Net profit.
The company overview will most likely
be the shortest section of your Cash flow statement
business plan. The cash flow statement often gets
confused with the profit and loss
statement, but they are very different
and serve very different purposes.
 Mission statement.
 Intellectual property. Balance sheet
 A review of your company’s legal The last financial statement that most
structure and ownership. businesses will need to create as part
 The business location. of their business plan is the balance
 A brief history of the company if it’s an sheet.
existing company.
Use of funds
5. Financial plan. Last, but certainly not least, If you are raising money from
is your financial plan chapter. investors, you should include a brief
section of your business plan that
Sales forecast details exactly how you plan on using
Your sales forecast is just that—your your investors’ cash.
projections of how much you are going
to sell over the next few years. Exit strategy
Personnel plan The last thing that you might need to
Your personnel plan details how much include in your financial plan chapter is
you plan on paying your employees. a section on your exit strategy.
Income statement or profit and loss
statement 6. Appendix An appendix to your business plan
Also known as the income statement, isn’t a required chapter by any means, but it is
the profit and loss (or P&L) is where a useful place to stick any charts, tables,
your numbers all come together and definitions, legal notes, or other critical
information that either felt too long or too out-
of-place to include elsewhere in your business
plan.