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busness idea & business opportunity(1st) (2).pptx

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This document outlines an agenda for a workshop on generating business ideas. The objectives of the workshop are to teach participants how to gather information to prepare a business plan, write a business plan, and understand the contents of a business plan. It discusses topics like creativity, innovation, defining business ideas and opportunities, sources of ideas, and brainstorming techniques. Participants will practice identifying business opportunities from problems and underutilized resources in their area.

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Generating Business idea
What are your expectations regarding this workshop? Why are you here? Introduce your self 11/7/2023 2 Organized by FTVETA
OBJECTIVES At the end of the training, the trainees should be able to: Gather the necessary information to prepare a business plan Use available information to prepare a business plan Describe the process of writing a business plan. Describes Procedures to write BP Understand Contents of BP Prepare their own Business plan 11/7/2023 3 Organized by FTVETA
The nine dot exercise Tell the trainee with full instruction what to do in this activity 11/7/2023 4 Organized by FTVETA NINE DOTS
M6-F2-2 NINE DOTS 11/7/2023 5 Organized by FTVETA
M6-F3 QUOTE Where others see problems, entrepreneurs see opportunities. Creativity emerges from the elimination of all unnecessary assumptions. 11/7/2023 6 Organized by FTVETA
Creativity Meaning of Creativity Creativity is the ability to design, form, make or do something in a new or different way or it is the ability to come up with innovative solutions to needs/problems and to market them. CREATIVITY: is the ability to create or make something new or differently. It results in new idea or knowledge An entrepreneurs creativity is often the difference between success and failure in business. 11/7/2023 7
11/7/2023 Organized by FTVETA 9 Barriers to creativity searching for the one right answer focusing on being logical blindly following the rules and routines constantly being practical viewing play as frivolous becoming overly specialised avoiding ambiguity
Continued fearing looking foolish - fearing mistakes and failure - believing that Im not creative The key to spurring the imagination is to learn to think fluidly and flexibly 11/7/2023 Organized by FTVETA 10
M6-F6 INNOVATION Is the introduction of a product or service that is new or significantly improved, considering its characteristics or expected use. Is the process of converting or translating creative ideas in to practical account/physical existence. It results in new products or services 11/7/2023 11 Organized by FTVETA
11/7/2023 Organized by FTVETA 12 It may also be the implementation of production, distribution, marketing or organizational methods and processes that are new or significantly improved.
Business Idea Meaning of Business Idea A business idea is the response of a person or persons, or an organization to solve an identified problem or to meet perceived needs in the environment (markets, community, etc.). A good business idea is essential for starting a successful venture and to stay ahead of competition. 11/7/2023 Organized by FTVETA 13
CONT Business idea is an idea of providing goods and services to meet customers needs at a profit Finding a good idea is the first step in transforming the entrepreneurs desire and creativity into a business opportunity. Good business ideas, however, do not usually just occur to an entrepreneur. Business idea: can be any unsatisfied needs of the society. 11/7/2023 Organized by FTVETA 14
Why Generate Business Ideas There are many reasons why entrepreneurs or would-be entrepreneurs need to generate business ideas. Here are just a few: You need a great idea to start a new business Business ideas need to respond to market needs Business ideas need to respond to changing consumer wants and needs 11/7/2023 Organized by FTVETA 15
CONT Why Generate Business ideas help entrepreneurs to stay ahead of the competition. Business ideas are needed to exploit technology and do things better. 11/7/2023 Organized by FTVETA 16
CONT Why Generate . Business ideas are needed because the life cycles of products are limited. Business ideas help to ensure that businesses operate effectively and efficiently. Business ideas help to solve natural resource scarcity, pollution and depletion. 11/7/2023 Organized by FTVETA 17
Business Idea NEW IDEAS FROM OLD/SCAMPER MODEL/ Amplify - Make it bigger Minimize -make it smaller Eliminate parts Put to other use Rearrange parts -modify parts or ideas: color, taste Combine parts of ideas Substitute different materials, parts, or methods 11/7/2023 Organized by FTVETA 18
Business Idea Sources of Business Idea Hobbies/Personal Interests Personal Skills and Experience Mass Media (newspapers, magazines, TV, Internet) Business Exhibitions Surveys 11/7/2023 Organized by FTVETA 19
Business Idea Sources of . Customer Complaints Natural scarcities and pollution Changes in Society Brainstorming Being Creative 11/7/2023 Organized by FTVETA 20
Business Idea Brainstorming is a technique for creative problem-solving as well as for generating ideas. Its objective is to come up with as many ideas as possible. 11/7/2023 Organized by FTVETA 21
Business Idea Brainstorming . There are FOUR RULES for BRAINSTORMING: Dont criticize or judge the ideas of others Freewheeling is encouraged-ideas that seem to be wild or crazy are welcome. Quantity is desirable the greater the number of ideas, the better Combine and improve upon the ideas of others 11/7/2023 Organized by FTVETA 22
Business opportunity WHAT IS A BUSINESS OPPORTUNITY? A business idea is worth nothing if customers are not prepared to pay for it A business opportunity may be defined simply as an attractive investment idea or proposition that provides the possibility of a monetary return for the person taking the risk. A good idea is not necessarily a good business opportunity. So, what turns an idea into a business opportunity? 11/7/2023 Organized by FTVETA 23
Business opportunity CHARACTERISTICS OF A GOOD BUSINESS OPPORTUNITY Real demand: respond to unsatisfied needs or requirements of customers Return on investment: provide acceptable rewards for the risk and effort required Be competitive: be equal or greater than the available products or services. Meet objectives: meet the goals of the person who take the risk Availability of resources and skills: the Epr is able to obtain the necessary resources.. 11/7/2023 Organized by FTVETA 24
IDEAS Vs OPPORTUNITIES IDEAS OPPORTUNITIES ....last for ever ....are perishable .are free .require work .everybody has ideas .require fit .do not need customers .must create customer to survive value 11/7/2023 Organized by FTVETA 25
M6-F11 Clue: NEEDS AND UNDERUTILIZED RESOURCES PROBLEMS AND UNMET NEEDS Thefts Lack of qualified labor Lack of leisure options UNDERUTILIZED RESOURCES Cinemas Old factories facilities Unfinished buildings Make a group consisting five members and try to identify problems in your surrounding and turn the problem in to Business opportunity 11/7/2023 26 Organized by FTVETA
M6-F12 OPPORTUNITY IDENTIFICATION PROBLEMS UNDERUTILIZED RESOURCES BUSINESS OPPORTUNITIES Thefts manpower, industrial facility Locking systems Hot weather know how, raw materials Fans and air coolers Deseases unfinished building Medical clinic Boredom cinema Leisure club 11/7/2023 27 Organized by FTVETA
Thanks !!! 11/7/2023 28 Organized by FTVETA

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busness idea & business opportunity(1st) (2).pptx

  • 2. What are your expectations regarding this workshop? Why are you here? Introduce your self 11/7/2023 2 Organized by FTVETA
  • 3. OBJECTIVES At the end of the training, the trainees should be able to: Gather the necessary information to prepare a business plan Use available information to prepare a business plan Describe the process of writing a business plan. Describes Procedures to write BP Understand Contents of BP Prepare their own Business plan 11/7/2023 3 Organized by FTVETA
  • 4. The nine dot exercise Tell the trainee with full instruction what to do in this activity 11/7/2023 4 Organized by FTVETA NINE DOTS
  • 6. M6-F3 QUOTE Where others see problems, entrepreneurs see opportunities. Creativity emerges from the elimination of all unnecessary assumptions. 11/7/2023 6 Organized by FTVETA
  • 7. Creativity Meaning of Creativity Creativity is the ability to design, form, make or do something in a new or different way or it is the ability to come up with innovative solutions to needs/problems and to market them. CREATIVITY: is the ability to create or make something new or differently. It results in new idea or knowledge An entrepreneurs creativity is often the difference between success and failure in business. 11/7/2023 7
  • 8. 11/7/2023 Organized by FTVETA 9 Barriers to creativity searching for the one right answer focusing on being logical blindly following the rules and routines constantly being practical viewing play as frivolous becoming overly specialised avoiding ambiguity
  • 9. Continued fearing looking foolish - fearing mistakes and failure - believing that Im not creative The key to spurring the imagination is to learn to think fluidly and flexibly 11/7/2023 Organized by FTVETA 10
  • 10. M6-F6 INNOVATION Is the introduction of a product or service that is new or significantly improved, considering its characteristics or expected use. Is the process of converting or translating creative ideas in to practical account/physical existence. It results in new products or services 11/7/2023 11 Organized by FTVETA
  • 11. 11/7/2023 Organized by FTVETA 12 It may also be the implementation of production, distribution, marketing or organizational methods and processes that are new or significantly improved.
  • 12. Business Idea Meaning of Business Idea A business idea is the response of a person or persons, or an organization to solve an identified problem or to meet perceived needs in the environment (markets, community, etc.). A good business idea is essential for starting a successful venture and to stay ahead of competition. 11/7/2023 Organized by FTVETA 13
  • 13. CONT Business idea is an idea of providing goods and services to meet customers needs at a profit Finding a good idea is the first step in transforming the entrepreneurs desire and creativity into a business opportunity. Good business ideas, however, do not usually just occur to an entrepreneur. Business idea: can be any unsatisfied needs of the society. 11/7/2023 Organized by FTVETA 14
  • 14. Why Generate Business Ideas There are many reasons why entrepreneurs or would-be entrepreneurs need to generate business ideas. Here are just a few: You need a great idea to start a new business Business ideas need to respond to market needs Business ideas need to respond to changing consumer wants and needs 11/7/2023 Organized by FTVETA 15
  • 15. CONT Why Generate Business ideas help entrepreneurs to stay ahead of the competition. Business ideas are needed to exploit technology and do things better. 11/7/2023 Organized by FTVETA 16
  • 16. CONT Why Generate . Business ideas are needed because the life cycles of products are limited. Business ideas help to ensure that businesses operate effectively and efficiently. Business ideas help to solve natural resource scarcity, pollution and depletion. 11/7/2023 Organized by FTVETA 17
  • 17. Business Idea NEW IDEAS FROM OLD/SCAMPER MODEL/ Amplify - Make it bigger Minimize -make it smaller Eliminate parts Put to other use Rearrange parts -modify parts or ideas: color, taste Combine parts of ideas Substitute different materials, parts, or methods 11/7/2023 Organized by FTVETA 18
  • 18. Business Idea Sources of Business Idea Hobbies/Personal Interests Personal Skills and Experience Mass Media (newspapers, magazines, TV, Internet) Business Exhibitions Surveys 11/7/2023 Organized by FTVETA 19
  • 19. Business Idea Sources of . Customer Complaints Natural scarcities and pollution Changes in Society Brainstorming Being Creative 11/7/2023 Organized by FTVETA 20
  • 20. Business Idea Brainstorming is a technique for creative problem-solving as well as for generating ideas. Its objective is to come up with as many ideas as possible. 11/7/2023 Organized by FTVETA 21
  • 21. Business Idea Brainstorming . There are FOUR RULES for BRAINSTORMING: Dont criticize or judge the ideas of others Freewheeling is encouraged-ideas that seem to be wild or crazy are welcome. Quantity is desirable the greater the number of ideas, the better Combine and improve upon the ideas of others 11/7/2023 Organized by FTVETA 22
  • 22. Business opportunity WHAT IS A BUSINESS OPPORTUNITY? A business idea is worth nothing if customers are not prepared to pay for it A business opportunity may be defined simply as an attractive investment idea or proposition that provides the possibility of a monetary return for the person taking the risk. A good idea is not necessarily a good business opportunity. So, what turns an idea into a business opportunity? 11/7/2023 Organized by FTVETA 23
  • 23. Business opportunity CHARACTERISTICS OF A GOOD BUSINESS OPPORTUNITY Real demand: respond to unsatisfied needs or requirements of customers Return on investment: provide acceptable rewards for the risk and effort required Be competitive: be equal or greater than the available products or services. Meet objectives: meet the goals of the person who take the risk Availability of resources and skills: the Epr is able to obtain the necessary resources.. 11/7/2023 Organized by FTVETA 24
  • 24. IDEAS Vs OPPORTUNITIES IDEAS OPPORTUNITIES ....last for ever ....are perishable .are free .require work .everybody has ideas .require fit .do not need customers .must create customer to survive value 11/7/2023 Organized by FTVETA 25
  • 25. M6-F11 Clue: NEEDS AND UNDERUTILIZED RESOURCES PROBLEMS AND UNMET NEEDS Thefts Lack of qualified labor Lack of leisure options UNDERUTILIZED RESOURCES Cinemas Old factories facilities Unfinished buildings Make a group consisting five members and try to identify problems in your surrounding and turn the problem in to Business opportunity 11/7/2023 26 Organized by FTVETA
  • 26. M6-F12 OPPORTUNITY IDENTIFICATION PROBLEMS UNDERUTILIZED RESOURCES BUSINESS OPPORTUNITIES Thefts manpower, industrial facility Locking systems Hot weather know how, raw materials Fans and air coolers Deseases unfinished building Medical clinic Boredom cinema Leisure club 11/7/2023 27 Organized by FTVETA