Recognize Potential Market

Entrepreneurial Idea

A concept or innovation that has the potential to create a new business opportunity.

Entrepreneurial Opportunities

Potential avenues for starting a new business venture based on the identification of a market need or gap.

Entrepreneurial Venture

The establishment and operation of a new business by an entrepreneur to pursue a specific opportunity.

Entrepreneurial Mind Frame

A positive and optimistic mindset that allows entrepreneurs to see opportunities even in challenging situations and take calculated risks.

Entrepreneurial Heart Flame

The passion and drive that motivates entrepreneurs to seek satisfaction and fulfillment in the process of discovering and pursuing new opportunities.

Entrepreneurial Gut Game

The intuitive ability of entrepreneurs to make confident decisions and trust their instincts in seizing opportunities.

External Environment

The physical, societal, and industry-specific factors that influence and shape the business environment in which an entrepreneur operates.

Changes in the Environment

Shifts or developments in the external environment that can create new entrepreneurial ideas and opportunities.

Societal Environment

The cultural, political, economic, and technological factors that impact the business environment and create potential opportunities for entrepreneurs.

Industry Environment

The competitive landscape and key stakeholders (competitors, customers, suppliers, etc.) within a specific industry that influence entrepreneurial opportunities.

Technological Discovery and Advancement

The identification of business opportunities that arise from new inventions, technological innovations, or the application of existing technology in new ways.

Government's Thrust, Programs, and Policies

The priorities, initiatives, programs, and regulations implemented by the government that can create or influence entrepreneurial opportunities.

People's Interest

The hobbies, preferences, and interests of individuals that can serve as rich sources of entrepreneurial ideas and opportunities.

Past Experiences

The expertise, skills, and knowledge gained from previous work or experiences that can lead to the establishment of a related business venture.

Five Forces of Competition

The key factors (buy