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Personal Entrepreneu Rial Competencie S

The document discusses important personal entrepreneurial competencies and traits for entrepreneurs, including being hard working, self-confident, future-oriented, and able to cope with failure. It also provides guidance on strengthening these competencies, such as being open to feedback, maintaining a positive attitude, and prioritizing business goals over personal goals. The document then discusses key aspects of product development, such as identifying customer needs, generating product concepts, and refining specifications. It also covers finding value propositions, innovation, and generating business ideas.

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artem parrinas
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71 views23 pages

Personal Entrepreneu Rial Competencie S

The document discusses important personal entrepreneurial competencies and traits for entrepreneurs, including being hard working, self-confident, future-oriented, and able to cope with failure. It also provides guidance on strengthening these competencies, such as being open to feedback, maintaining a positive attitude, and prioritizing business goals over personal goals. The document then discusses key aspects of product development, such as identifying customer needs, generating product concepts, and refining specifications. It also covers finding value propositions, innovation, and generating business ideas.

Uploaded by

artem parrinas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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PERSONAL

ENTREPRENEU
RIAL
COMPETENCIE
S
Important
Entrepreneur
ial Traits
1. Hard working
2. Self- Confidence
3. Future-Oriented
4. Profit-Oriented
5. Goal-Oriented
6. Persistence
7. Copes with Failure
8. Responds to Feedback or Open to
Feedback
9. Take the Initiative
10.Willing to Listen
11. Set your Own Standards
12. Copes with Uncertainty
13. Committed
14. Builds on Strengths
15. Reliable and has Integrity
16. Risk-Taker
Strengthening your Identified PECs

Here are your guides on how to strengthen your


own PECs.
1. React positively to criticisms and open to
feedback.
2. Always demonstrate positive attitude to achieve
a desired goal.
3. Always project strong and well-balanced
behavior.
4. Always exercise the assertive style in your work
environment.
5. Avoid being too passive and too aggressive.
Strengthening your Identified PECs

6. Don’t let anyone worsen your business life.


7. Prioritize your business goal rather than
personal goal in order to become a successful
entrepreneur.
8. Acquire specific skills for creating and
maintaining a conducive work environment.
9. Be responsible in everything you do in your
business.
10. Always observe business ethics in putting up a
business.
ENVIRONMEN
T AND
MARKET
Product Development

• process of making a
new product
• modification of an
existing product
Development
• process of identifying a market
opportunity
• creating a product to appeal to the
identified market
• testing, modifying, and refining the
product until it becomes ready for
production.
These questions include the
following
1.For whom are the
product/services aimed at?
2.What benefit will the customers
expect from product/service?
3.How will the product/service
differ from the existing brand?
From its competitor?
1. basic commodities for
consumption,
2. clothing and other personal
belongings,
3. shelter, sanitation and health,
and
4. education.
Concepts of Developing a Product
The process of product development
follows the following stages:
1. Identify customer needs
2. Establish target specifications
3. Analyze competitive products
4. Generate product concepts
5. Select a product concept
6. Refine product specifications
7. Perform economic analysis
8. Plan the remaining development project
Finding Value
• something in your product or service that
would give consumers a good reason to go
back and buy more
• something that will make you the best
option for target customers

• Value proposition is a believable collection


of the most persuasive reasons why people
should notice you and take the action
you’re asking for
Innovation
• introduction of
something new
Unique Selling Proposition (USP)
• Use empathy
• Identify customer’s
desires
• Discover customer’s
genuine reasons for
buying the product
Generating Ideas for Business

TWO PROBLEMS
• excessive generation of
ideas that can forever
remain as a dreaming stage
• don’t have ideas and don’t
want to become
entrepreneurs
Generating Ideas for Business
• Examine existing goods and services
• Examine the present and future needs
• Examine how the needs are being
satisfied
• Examine the available resources
• Read magazines, news articles, and
other publications on new products
and techniques or advances in
technology
Key Concepts of Selecting a Business Idea
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)?
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
marketing practice of
creating
–Name
–Symbol
–promise to your customers
–most important aspects in
any business
Branding
A good product can:
- deliver message clearly,
- confirm credibility,
- connect to target prospect,
- motivate buyers, and
- concretize user loyalty.
• Develop a tagline
• Design a logo
• Write a brand message
• Sustain a brand quality
• Practice consistency

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