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Screening The Proposed Solution Based On Viability

This document discusses screening a proposed business solution based on viability, profitability, and customer requirements. It provides guidance on conducting market research and analyzing five criteria: customers, timing, finance, competitiveness, and product uniqueness. The document also introduces the 12 R's framework for more complex opportunity screening, considering relevance, values, interest, revenues, customer needs, reach, range, impact, returns, ease of implementation, resources required, and risks. The overall message is on evaluating a business idea based on these factors to determine feasibility and likelihood of success.

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Nelle Bagins
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Download as PPTX, PDF, TXT or read online on Scribd
284 views

Screening The Proposed Solution Based On Viability

This document discusses screening a proposed business solution based on viability, profitability, and customer requirements. It provides guidance on conducting market research and analyzing five criteria: customers, timing, finance, competitiveness, and product uniqueness. The document also introduces the 12 R's framework for more complex opportunity screening, considering relevance, values, interest, revenues, customer needs, reach, range, impact, returns, ease of implementation, resources required, and risks. The overall message is on evaluating a business idea based on these factors to determine feasibility and likelihood of success.

Uploaded by

Nelle Bagins
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Screening the Proposed

Solution based on Viability


Profitability and Customer
Requirement
Activity 1. KWL Chart
¼ sheet of paper
WHAT I KNOW WHAT I WANT WHAT I LEARNED
TO KNOW
Activity 2: Be an Entrepreneur! Directions: Think yourself as an
entrepreneur and be a successful business man/ woman. Analyze
your market and answer the following questions below. Write your
response on your answer sheet.
 1. What business do you think will suit in your
market? 2. Where do you think is the right
location for the business?
 3.How will you identify the possible products
that your market needs?
 4. How much is the estimated capital? 5. Who
are the target customers of your business?
BUSINESS LOCATION PRODUCTS/ TARGET ESTIMATED
SERVICES CUSTOMER CAPITAL

3
5 Criteria to examine if your business is
Feasible
 1. Customer – Asking who is your target customer?
Customer is a person who has the capacity to acquire
your product/ service, it maybe individual, family, and
group of people, employees, other company, etc.
 2. Timing – is the timing of establishing business is
right? Is the product on trends? It is important in
business to consider the timing because of different
preferences and trends of the products in the market.
 3. Finance – Is the business profitable? Estimated capital is
use for starting up and during the operation of the
business. To avoid losses you need to have adjustment in
establishing business base on our estimated capital.
 4. Competitiveness – can we win over other markets?
Always remember that in every business there is always a
rivalry. We need to make other people see what our
company is capable of. It needs a combination of strength
and confidence to beat the product of our competitors.
 5. Product – asking what is the difference of our product/
service to other product/ service? Uniqueness of the
products can easily attract customers to gain more profits.
 Before promoting your business you need to know
your customers want and why. The first step you
need to do is Marketing Research. It should help
you to understand your potential customers.
Further customer research can help you develop a
more detailed picture of them and understand
how to target them.
 For a more realistic number, it would help to
narrow down your estimation to the relevant
population or target customers in the area where
you want to operate your business.
Segmenting the Market

 Using set of demographics. It will highlight key


characteristics your customers share, such as:
gender, age, occupation, monthly Income, and
residential location. Once you get the
demographic profile of your customer. Keep in
mind that some general statistics for these
demographics can be found online.
The 12 R’S of Opportunity Screening A more
complex screening grid uses 12 criteria for screening
opportunities.
 1. Relevance to vision, mission, and objectives of the
entrepreneur. The opportunity must be aligned with what
you have as your personal vision, mission, and objectives for
the enterprise you want to set up.
 2. Resonance to values. Other than vision, mission, and
objectives, the opportunity must match the values and
desired virtues that you have or wish to impart.
 3. Reinforcement of entrepreneurial interest. How does the
opportunity resonate with the entrepreneur’s personal
interest, talents, and skills?
 4. Revenues. In any entrepreneurial endeavor, it is important
to determine the sales potential of the products or services
you want to offer. Is there a big enough market out there to
grab and nurture for growth?
 5. Responsiveness to customer needs and wants. If the
opportunity that you want to pursue, addresses the unfulfilled
or undeserved needs and wants of customers, then you have a
better chance of succeeding.
 6. Reach. Opportunities that have good chance of expanding
through branches, distributorships, dealerships, or franchise
outlets in order to attain rapid growth are better
opportunities.
 7. Range. The opportunity can potentially lead to a wide range
of possible product or service offerings, thus tapping many
market segments of the industry.
 8. Revolutionary Impact. If you think that the opportunity will most
likely be the “next big thing” or even a game – changer that will
revolutionize the industry, then there is a big potential for the chosen
opportunity.
 9. Returns. It is a fact that products with low costs of production and
operations but are sold at higher prices will definitely yield the highest
returns on investments. Returns can also be intangible; meaning, they
come in the form of high profile recognition or image projection.
 10.Relative ease of implementation. Will the opportunity be relatively
easy to implement for the entrepreneur or will there be a lot of
obstacles and competency gaps to overcome?
 11.Resource required. Opportunities requiring fewer resources from the
entrepreneur fewer resources from the entrepreneur may be favored
than those requiring more resources.
 12.Risks. In entrepreneurial endeavor, there will always be risks.
However, some opportunities carry more risks than others, such as
those with high technological, market, financial, and people risks.

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