Grabbing

Ideas and
Finding the
Right Market
KC A R I YA RAT H N A
D E PA RT M E N T O F B U S I N E S S M A N AG E M E N T
FAC U LT Y O F M A N AG E M E N T S T U D I E S
S A B A RAG A M U WA U N I V E R S I T Y O F S R I
L A N KA
ILO
To train them to identify business opportunities through environmental
scanning

2
Entrepreneurship
"Entrepreneurship is concerned with the discovery and exploitation of
profitable opportunities” (Venkataraman, 2000).

For Frank H. Knight (1921) and Peter Drucker (1970) “entrepreneurship is

about taking risks”

3
Entrepreneurship, Entrepreneur
and Enterprise

Opportun
ity

Innovatio
Risk
n

4
 Do you like to face Problems?
1. Economic Crisis? Opportunity is an
occasion or situation
2. Pandemics? that makes it
possible to do
3. Hard Times? something that you
want to do or have
4. Blames?
to do or the
possibility of doing
something
According to the Look at Elon Musk; he is a crazy and paranoid person
Cambridge Dictionary who and his all companies (Tesla, SolarCity, SpaceX,
problem is a situation, etc.) are focused on solving the biggest problem of
person, or thing that the whole world. He talks about creating cheap
needs attention and rockets so that the common man can travel in space.
needs to be dealt with Elon’s ‘The Boring Company’ works on reducing
or solved: traffic in cities by developing autonomous vehicles
that work inside a tunnel. 5
From
Creativity
to
Entreprene
urship

6
Creativity, innovation and
entrepreneurship
• Creativity is the ability to develop new ideas and to
discover new ways of looking at problems and
opportunities.

• Innovation is the ability to apply creative solutions to

those problems and opportunities in order to enhance
people’s lives or to enrich society.

7
How we can generate Business Ideas
Try
to
Pr impr
od
u c ov e
t o an
rS ex
er i
vic stin
e g

Try to find a problem

in the world

8
9
 Methods of Idea Generation

Supportive
Brainstorming Agencies

Observation Busines Friends and

of existing Family
resources in
s Idea Members
your area

Market
List
Research continues……

10
11
Brainstorming - What we can do
from a Jack Fruit?

12
 Idea Screening

(3)

(10)

(50)

(200)

Elimination Macro/ Micro Deep Micro

Pair-wise Analysis Analysis
(My Interest)
Ranking
(Market Demand)
(Few
Criteria)
13
Pair-wise Ranking (reducing the initial list
up to 20 business ideas)

Criterion: Market Demand

How to know the Market Demand?

Market Survey?

14
 Pair-wise Ranking

1 2 3 4 5
S/N Business Idea Result Rank

Jack Fruit Noodle 2 1 4 5 1 4

1

Jack Fruit Biscuit 2 4 5 2 3

2

Jack Fruit Pizza 4 5 0 5

3

Jack Fruit Toffee 4 4 1

4

Jack Fruit Juice 3 2

5

15
Macro Analysis for 10 best business ideas

Criteria

1 Personal Match (PM)

2 Market Demand (MD)

3
Government Clearance (GC)

4 Finding Expert Talents (ET)

5
Easy to Start (ES)

Very Bad Bad Average Good Very Good Excellent

0 2 4 6 8 10

16
 Macro Analysis

Personal Markt Govt Finding Easy to

Match Demand Clearance Experts Start TOTAL RANK

Drug Manufacturing 6 8 2 2 0 18 3
(DM)

TV Station 4 8 2 2 0 16 5
(TV)

Super Market 10 10 10 10 10 50 1
(SM)

Battery 4 4 6 2 4 20 2
Manufacturing
(BM)

Very Bad - 0 Bad

4 -2 8Average - 4
4 Good
2- 6 Very
0 Good - 18
8 Excellent
4 - 10
Private Hospital
(PH)
17
Micro Analysis for 10 best business ideas
Criteria

1 Personal Match (PM)

2 Market Demand (MD)
3
Government Clearance (GC)
4 Finding Expert Talents (ET)
5
Easy to Start (ES)
6
Easy to find materials (EM)
7
Easy to find technology (ET)
8
Easy to find initial capital (EC)
Very Bad Bad Average Good Very Good Excellent
0 2 4 6 8 10

18
 Micro Analysis
Business Idea Person Market Governme Expe Easy Easy Easy Easy Tot Ran
al Dema nt rt to to to to al k
Match nd Clearance Talen start find find find
t Mate Tech capit
al
Drug 6 8 2 2 0 0 0 8 26
Manufacturing
Battery 4 4 6 2 4 2 2 6 30
Manufacturing
Super Market 10 10 10 10 10 10 10 10 80

Very Bad - 0 Bad - 2 Average - 4 Good - 6 Very Good - 8 Excellent - 10

19
Q&A

20
Thank you

21