The Five Roots of Opportunity in
the Marketplace
Entrepreneurs can exploit “five roots of opportunity.” Notice
how similar these are to Schumpeter’s definition of
entrepreneurship.
1. Problems your business can solve
2. Changes in laws, situations, or trends
3. Inventions of new products or services
4. Competitive advantage in price, location, quality,
reputation, reliability, speed, or other attributes of
importance to customers
5. Technological advances that entrepreneurs take
from the laboratory to the marketplace
How Do Entrepreneurs Find Opportunities to
Start New Businesses?
Schumpeter’s Sources of Opportunity
1. Using a new
5. Developing a technology to
new market for an produce a new
existing product product
2. Using an
4. Finding a existing
new supply of technology to
resources produce a new
product
3. Using an
existing
technology to
produce an old
product in
a new way
How do entrepreneuers create business
ideas?
• Listen
• Observe
• Analyze
Biểu đồ thấu cảm
Techniques for improving the creative
process.
• Brainstorming
• Mind mapping
• TRIZ
• Rapid prototyping
Brainsorming
Brainstorming
Brainstorming is a process in which a small
group of people interact with very little structure,
with the goal of producing a large quantity of
novel and imaginative ideas
Questions to Spur the Imagination
• 1. Is there a new way to do it?
• 2. Can you borrow or adapt it?
• 3. Can you give it a new twist?
• 4. Do you merely need more of the same?
• 5. Less of the same?
• 6. Is there a substitute?
• 7. Can you rearrange the parts?
• 8. What if you do just the opposite?
• 9. Can you combine ideas?
• 10. Are customers using your product or service in ways you never expected or
intended?
Questions to Spur the Imagination
• 11. Which customers are you not serving? What changes to your product or service
are necessary to reach them?
• 12. Can you put it to other uses?
• 13. What else could we make from this?
• 14. Are there other markets for it?
• 15. Can you reverse it?
• 16. Can you rearrange it?
• 17. Can you put it to another use?
• 18. What idea seems impossible but, if executed, would revolutionize your business?
Question
Which factors can
affect your business
model when starting
up entrepreneurship?
Business Model Canvas
• The Business Model Canvas is a strategic
management template invented by Alexander
Osterwalder and Yves Pigneur
• It is a visual chart with elements describing a
firm’s value proposition, infrastructure,
customers, and finances.
BUSINESS MODEL CANVAS- BMC
Source: Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers by Osterwalder,
Alexander; Pigneur, Yves Reproduced with permission of Wiley in the format Book via Copyright ClearanceCenter.
Customer Segments
• There is often more than one type of customer
(mass market, niche market, segmented, multi-sided
platform). Each type is called a customer segment,
and each will have a different problem and need a
solution and value proposition that fits his or her
situation.
• So you are likely to end up having multiple copies of
the canvas—one for each customer segment.
Some characteristics to describe the
customer profile
• Gender • What websites do they surf?
• Age • What TV programs do they watch?
• Income • What is the common reason that
• Geographical location they buy the product?
• Motivation • What is the story that attracts
• What makes customer afraid? them?
• Who is the hero in the customer's • Which KOLs do they like?
heart? • Which channels do they usually
• Where do they hang out? pay through?
• Where do they eat? • ……..
• What do they do before and after
work?
• What types of newspaper do they
read?
Teamwork Activity 1:
1. What are the demographics of the segment that needs this product?
2. What are the psychographics?
3 How might you reach these people?
Pizza Challenge
Please provide a solution to improve pizza to better meet
the needs of a specific customer segment?
Value Propositions
• This also comes from the screening, and will
differ for each customer segment. What will
make your solution the best available fit (i.e.,
the most valuable available alternative) to
what the customer wants or needs?
Source: http://www.peterjthomson.com/2013/11/value-proposition-canvas/
Value Proposition
Teamwork Activity 2
• Describe the VP for your pair’s product in as much detail as possible
• Get ready to share this with the group
Channels
• How will you get your product or service to the
customer?
• Channels refer to both communication
channels (promotion) and distribution channels
(product placement). Communication channels
define how the customers seek out information
about this type of product. The distribution
channel defines the most effective way to get
products to the customers for this type of
business
Customer relationships
• The best customers are ones that buy again and again and
recommend you to their friends. The product or service is
part of it, but most often it is the way you treat and take care
of your customers that makes the greatest difference. How
will you take the best care of your most important
resource—your customer?
Customer Relationships
• The methods that businesses:
Search for and approach customers
Take care of customers
Develop customer systems
Marketing and sales activities are manifested in this box in
the business model.
Marketing process for Start up
• Acquistion
• Activation
• Retention
• Lead scoring
• Conversion
• Reference
Revenue streams
• How do you make money solving the problem
and selling to your customers? How many
different ways can you get revenues?
Key resources
• An entrepreneur needs to build an initial checklist to
ensure that all key resources have been identified that will
support a successful launch and sustain the business as it
grows
• Material: assets, machinery, equipment, land, factories,
networks,...
• Intellectual: copyright, technology, patents, know-how,...
• People (CEO, human resources team, partners,
advisors,...)
• Money, finance,
• Brand reputation
• Relationships…
6 Key Resources (KR)
• What key resources do core values require?
• What are our distribution channels?
• How is customer relations?
• What is the revenue stream like?
• Types of resources
– Material?
– Wisdom?
– Human?
– Finance?
Key Activities
• The goal is to build a basic checklist of what needs to be done to open
the business and what activities are necessary to ensure its long-term
success
Enterprises need to focus on the most specific activities, and at the same
time, should outsource other activities to improve business efficiency.
Key Activities
• What are the main types of activities we carry out?
• What are the key activities that core valueation entail?
• Distribution channels?
• Customer relationship?
• Revenue stream?
Key Partners
• This segment of the business model includes important suppliers,
outsourcing partners, investors, industry partners, advisers, and all other
external businesses or entities that are critical to make the business
model work.
8 Key Partnerships (KP)
• Who are our main partners?
• What motivates us to work with partners?
• What are the main resources we gain from partners?
• What are the main activities that partners carry out?
Cost structure
• The key activities, key resources, and key partners
components of the plan help identify the basic types of
costs and give some estimate of their scope
9 Cost structure (CS)
• Chi phí nào là quan trọng nhất bắt buộc phải có trong mô hình kinh doanh của
doanh nghiệp?
• Những nguồn lực chính nào tốn nhiều chi phí nhất?
• Những hoạt động chính nào tốn nhiều chi phí nhất?
• Cụ thể quy mô của từng loại chi phí?
The Business Modelling Process
https://businessmodelanalyst.com/business-model-canvas-examples/page/5/
Vinamilk
https://eteachers.edu.vn/mo-hinh-bmc-cua-vinamilk/
