REVIEWER IN ENTREPRENEURSHIP (3RD Quarterly Examination)

• Mentors are experienced advisers who can add value to higher quality products, better customer service, and lower
the entrepreneur by giving sound guidance to increase prices.
competency, lessen risks, and help open more • An entrepreneur is a person that invests his resources to
opportunities for the entrepreneur to succeed. bring his idea to life, set direction that transforms his idea
• Operational mentors guide their workers on matters related into a reality, thus providing and gaining value that balances
to their present operations, especially key factors for effort, purpose and profit
success that their firm should do exceptionally • An innovator is a person who introduces either a new
• Functional mentor guides their colleagues on matters process, product, service, or business model to a
related to support the functional areas on which they may marketplace that becomes commercially successful.
need some advice. • Commitment is a strong drive person who achieves his
• Personal Mentors guides their employees on matters goals and objectives through focus and proactive follow
related to their personal growth. through.
• Strategic mentor guides their employee on matters related • Coordination is an organization of different people or
to the future vision of their business. groups coming from various functions to attain efficiency,
• Quality of product is one of the indispensable elements of effectiveness and/or impact.
franchisor which includes the product and its packaging, • Competency is having the combination of skills, attitude,
and the brand and its pricing. Doing this well, mitigates and behavior to do a particular role or job repetitively well.
search risk for a winning concept. • Preparation, marketing, execution, self-leadership are the
• Quality of company is one of the indispensable elements of steps/journeys every entrepreneur needs to climb in order to
franchisor which includes systems and manuals, regular arrive at the of prosperity
training, franchisee support, and prompt communication. • The entrepreneur needs a reasonable creativity quotient in
Doing this mitigates organization silo risk with customers as order to make business relevant and unique.
the center of a firm’s strategy. • Management skills competency is related to initiative and
• Quality of ROI is one of the indispensable elements of a resource management and influencing people skills as part
franchisor which includes fees and royalty, stock of the critical management task.
availability, terms, and conditions as well as having the • Message is the brand positioning that needs to be
right location. Doing this mitigates the business model risk communicated to persuade the target customer to buy.
of how a company sources its revenue in a sustainable • Moving forward is about having the grit to continue the
manner. business despite obstacles
• Quality of prospects is one of the indispensable elements • Mission is the purpose or the reason why the business
of the franchisee which includes foot traffic that captures exists beyond making profit. It can help encourage or
rate. Doing this well mitigates scale risk, as franchisee motivate entrepreneurs in knowing that their actions are not
needs to gain and maintain a profitable critical mass of just for selfish objectives but also for the benefit of others,
customer buying from them. in showing love and concern for others, and helping others
• Quality of leadership is one of the indispensable elements happiness and achievement.
of a franchisee which includes the background of the • Mastery is about building capabilities, knowing the nuts and
franchisee as well as his/her knowledge, attitudes, skills, bolts of the business, and eliminating gaps in the know-
and habits. Doing this well mitigates execution risk as a how.
franchisee with business training and exposure, combined • Business model is a description of the means and methods
with a good attitude and habits, has the head start a firm employs to generate sales revenue, profit, and cash
advantage versus another who has never been involved in flow while providing a template for the business to scale up.
an organization in the past. • Offering model is composed of what people in the
• Quality of local efforts is one of the indispensable elements marketing and sales departments typically handle.
of the franchisee which includes local promotions and local • Opportunity-seeking is the process of spotting, evaluating,
area supervision. Doing this well mitigates planning risk and pursuing relevant and sustainable revenue and profit-
instead of running a company based on guessing games. generating activities in the marketplace.
• Rivalry of competition happens when the firm within an • Product opportunity exists when there is a gap between
industry puts pressure on one another and limits each what is currently on the market and the possibility for new
other’s profit potential. or significantly improved products that result from the
• Threat of new entrants is a threat when a new competitor emerging trends.
poses to existing competitors in an industry. • Channel opportunity refers to finding the best way to
• Bargaining power of suppliers is the pressure that suppliers expose your services, product, and brand identity to
can exert on business by raising prices, lowering quality, or possible customers.
reducing the availability of their products. • Segment opportunity categorizes consumers based on
• Bargaining power of customers is the pressure that the opportunity they represent to increasing sales and
customers can exert on businesses to get them to provide profits. It is based on consumers' response to different
benefits, ideas, products, or services
• Voice of customer is a research process used to capture Type of Exam
the changing needs of consumers and customers. A key to
this is to identify and understand the pain points, barriers, Multiple choice
and root cause that trigger greater demand in the industry. Essay
• Voice of enterprise is a process to articulate the needs of
the entrepreneur or his/her company.
• 10 Building Block of Business Model (Porters Industry sirkennpogieveryday
Analysis)
o Offering model
▪ Target market
▪ Value proposition
▪ Revenue model
▪ Channel
▪ Customer bonding strategy
o Operating Model
▪ Value network
▪ Resources and processes
▪ Cost
▪ Complementors
▪ configurators
• Pain points process
o Pain hunting
o Pain points identification
o Pain points understanding
o Pain points healing
• Simplest Ways to Raise Capital
o Savings is a discretionary fund from unspent
money earned previously by the
entrepreneur.
o Partnership fund includes investment from
relatives, friends, and acquaintances
o Loans are money advances which may be
sourced from individuals, informal channel or
financial intermediaries like banks.
o Customer Advances are terms of sales
advantageous to the seller, such as cash with
order (CWO), asking for down payment (DP),
cash on delivery (COD), or collecting
franchise fee upfront.

• Sources of Funding
o Angel Investor- Money invested by the
outside individual to the firm.
o Super Angel - Big amount of money invested
by an outside individual to the firm
o Venture Capital - Amount of money invested
by outside investors, typically over 10
individuals with none owning over 10% of the
investment pool, forming themselves as a
venture investing company.
o Private Equities - Amount of money invested
by outside investor, typically over 10
individuals, forming themselves as private
equity investing company, focusing on the
firms that already have revenues and profit
o Going Public - Amount of money invested via
initial public offering from the stock market

-end of reviewer-
God bless you