The document discusses key aspects of entrepreneurship including opportunity recognition, technical and managerial competence, organizational skills, access to capital, and bringing innovative products and services to benefit society. It outlines steps for entrepreneurs such as self-diagnosis, identifying opportunities, developing a business model and strategy, writing a business plan, securing financing, and managing growth. Additionally, it notes characteristics of successful entrepreneurs like being comfortable with risk, having the patience to start small, and passion for their work. Lastly, it provides questions to consider when evaluating a business opportunity including assessing customer needs, market size and growth, competition, barriers to entry, and developing a competitive strategy.

1. Prakash Bagri

11. OPPORTUNITY
ENTREPRENEUR
Opportunity Recognition
Technical/
Human &
Managerial Organziation
Capital
Competence

12. Act as a force for creative destruction
Agents of change and, hopefully, progress
Bring products & services delivering something
new
Make positive contributions to society

18. Self Diagnosis
Identifying & Evaluating Opportunities
Business Model & Business Strategy
Writing your Business Plan
Meeting the Financing Requirements
Challenges of Managing Growth
Maintaining the Spark in your Business

36. Comfortable stretching the rules
Prepared to make powerful enemies
Have the patience to start small
Willing to shift strategies quickly
Know how to close a deal
ADDITIONALLY…
Have requisite technical skills
Able to sell their vision: Customers, Employees, Financers
Knack for turning plans into action
Good negotiators
LASTLY….
Passion for what they are doing!

54. Where things are changing
Under the radar of big, powerful
companies

58. Coaching Centers

63. Optimistic Revenue
Projections
Marketing Expenses
Required to breakout
Estimating People &
Space required

66. 1. Begin with a thorough examination of the market
for the business’s product or service
2. Assess the current and anticipated level of
competition and define the strategy that would
give you an edge
3. Look at the economics of the opportunity
4. Consider the financial and human resources
required for success

68. 1. How will it benefit customers?
2. How many people stand to benefit?
In other words, what is the size of the market?
3. Is the market stable or growing?
If its growing, at what annual growth rate?
4. What percentage of the total market could the product (service) hope
to capture in the next few years?
5. Is another product or service from competitors available to fill part of
this demand?
6. Are potential customers aware of their need for this product (or
service), or is the need latent – i.e., an undiscovered need?
7. Who exactly are the potential customers? Can you name them? Can
you describe them?
8. How can you reach the potential customers and make a transaction –
directly, through distributors, or through retail stores?
9. What is the utility of the product (or service) relative to substitutes?

71. 1. How are customers currently satisfying the need you have identified?
2. What are the strengths and weakness of the main competitors?
3. How would a smart competitor respond to your entering the market?
4. Are the barriers to market entry high or low? If entry barriers are high,
how will your surmount them?
5. Have current competitors shown themselves to be agile and
responsive to customer needs and technical change?
6. What is the single worst thing that a competitor could do to your
business?
7. How would the worst thing affect your prospects of success and how
would you respond?
8. What strategy on pricing, positioning, service, distribution or product
features would give you a sustainable competitive advantage?