As I've mentioned in my last post, I love attending seminars not just for freebies but for the added knowledge that could boost my confidence as a person. Last Saturday, Feb. 1, 2014, I attended a workshop. This time it's not about parenting but about a more serious stuff: Business. I graduated a college course in Entrepreneurship but I'm embarrassed to share that I haven't applied or haven't ventured into being an entrepreneur yet. I envy and look up to those people who have their own businesses, has a direction in life and let money work for them. I've been meaning to become a mom-preneur but didn't know how or where to start. I was so excited to listen to this seminar, hoping that it could change my life somehow or at least my attitude.
The title of the event is Seeking Business Opportunities. Let me share with you the things that I've learned or noted down from the lecture of Mr. Jeff Cua. Pardon my poor note-taking skills. These were the only things I have picked up. And also because I came in late that's why I wasn't able to get the earlier parts of the talk.
As lifted from the hand-out, Opportunity Seeking was defined as:
- a quality that enables the entrepreneur to see and act upon new business opportunities even in situations where other people see nothing but problems or hopelessness only
- encourages him/her to seize unusual opportunities for obtaining the necessary resources such as financing, equipment, land, workspace, technical assistance which will enable him/her to implement his/her business ideas
Part I: There are Two (2) Sources of Ideas: Problems and Untapped Resources.
1. Look for Problems such as:
- Dislike - think of something that people or you yourself dislike about
- Missing - think of something that is still missing or not yet available
- Hard - think of something that is difficult, complicated, time-consuming, burdensome
- Lack - think of something that is still lacking or incomplete
- Bother - think of something that irritates or annoys you
- Time - busy or no time to do this or that
- Knowledge - knows a little or nothing about a certain topic
- Reach - not accessible
- Novelty - something new or different/unique
2. Look into your Untapped Resources such as:
- Network - those you frequently interact with
- Skills - share what your talents or skills are
- Hobbies - share the things that you love to do, your passion
- Knowledge - share what you know or things you want to impart that can benefit others
- Experience - share your experience or what you have gone through
Part II: Create a Differentiated Solution.
1. Product in terms of new Feature, Performance, Style or Design
- should be distinct or has a unique identity
2. Service in terms of its Speed, Convenience or Careful Delivery - i.e. Zalora vs Sulit.com
3. Channel in terms of Coverage, Expertise or Performance - i.e. SM vs Shop Mom & Pop
Part III: Turning Ideas to Opportunity
1. Who and how many customers need it (Look for your Target Market)
2. Flow on how business works:
a. Need Recognition
b. General Need Description
c. Product Specification
d. Supplier Search
e. Proposal Solicitation
f. Supplier Selection
g. Order Routine Specification
h. Performance Review
Here are some of my take-home personal learning:
* Problems are found in the community or found everywhere.
* In seeking business opportunities, you should be in the know. You should know the current events or latest news.
* Always begin with the problem because problems will lead you to customers.
* It's an opportunity if there's money there.
* Think of something you've never seen before.
* Follow the basic supply and demand principle.
So there you go. Enough of the serious stuffs, let me show you some of the photos that I was able to take during the event.
|Attendees seated in a conference room inside the Ortigas Foundation Library after the break.|
|People from PRU LIFE U.K. gave a speech and invited everyone to attend their "Build Your Business" event.|
|Picture with the speaker Mr. Jeff Cua and distribution of Certificate of Attendance.|
|Group picture. Pardon the angle of the shot, I can't blame the person who took this photo, hehe. :)|
|Ofcourse, picture with the organizer and owner of Manila Workshops, Mommy Ginger.|
|Picture with the oh-so-cute fashionista Baby Zeeka! I missed my baby.|
|It was my first time to know about this place, Ortigas Foundation Library.|
Thank you Manila Workshops and Innove Creative Entrepreneurship for coming up with this kind of seminars. Please click the link and connect with them through their Facebook Page to know more about their upcoming events.