Entrepreneurship,

Business Idea, and

Opportunity

http://www.mikogo.com/guide/online-meeting-software/
 Assignment/ Business Project

Real Business
Products/ Services Prototype

OR Assignment
Seminar or Workshop

OR
Other Activities

All Assignment activities

should be provided by evidences
 Books
Donald F. Kuratko, Jeffrey S. Hornby (2009). New Ventures
Management, The Entrepreneur’s Roadmap. Pearson Prentice
Hall, New Jersey, ISBN 0-13-135530-9

Alexander Osterwalder, Yves Pigneur. (2010).

Business Model Generation: A Handbook for
Visionaries, Game Changers, and Challengers.
JWS. New Jersey. ISBN: 978-0470-87641-1

Bina Nusantara
 Online Reading
• http://twobmad.hubpages.com/hub/The-Hotel-Receptionist-and-
Telephone-Courtesy
• http://www.youtube.com/watch?v=aK9oQzy1BlU
• http://www.youtube.com/watch?v=QCuVy5o5GHk&feature=related
• http://www.indonesiakreatif.net/upload/File/mamin/PPKI%202010%20Er
win%20Halim%20Mewaralabakan%20Usaha%20Kuliner.pdf
• http://www.veechicurtis.com.au/surviving-in-small-business-l-the-
statistics.html
• http://www.waterconservation.co.za/2010/02/13/5-more-crazy-
environmental-ideas
• http://itsalmostgenius.com/index.php/almost-genius/alarm-clock-
pillow/
• http://www.pullinc.com/value-creation-is-a-crazy-idea

Bina Nusantara
 Learning Outcomes
• LO 1: Identify entrepreneurs
mindset and innovative
business idea
• LO 2: Analyse component of
business plan
• LO 3: Construct good
business plan and http://www.steveseay.com/depression-major-depressive-disorder/

presenting the business

plan
Bina Nusantara
 Course Description

study of creating valuable

business ideas and
delivering them to the
customers or market
consists of :
• business idea creation
• creating business model canvas
• creating business plan
• develop a comprehensive
knowledge of entrepreneur

http://www.frogmorris.net/QUIZ.php
 Objective

• Entrepreneur Definition

• Characters of
Entrepreneur

• Business Idea

• Creating Business
Opportunities
http://www.positivebusinessonline.com/general/starter-business-wesite
 Definition
The word entrepreneur is derived
from the French entreprendre,
• The entrepreneur is
one who
meaning: “to undertake.” (Kuratko, undertakes to
2009)
organize, manage,
and assume the
risks of a business/
organization.
• In recent years
entrepreneurs have
been doing so many
things that it is
necessary to
broaden this
http://bayanet.zadsolutions.com/pages/view/id/56
definition.
 An Entrepreneur

Innovator Convert Add Value Implement

innovator or converts those assumes the

developer Add value
who recognizes and
opportunities through time, risks to
seizes into workable effort, money, implement
opportunities ideas or skills these ideas

Source: Halim, 2010

 Characters of an Entrepreneur
Total
Taking initiative
commitment, Drive to achieve Opportunity and
and personal
determination, and grow goal orientation
responsibility
and perseverance

Persistent Seeking and Internal locus of

Realism
problem solving using feedback control

Calculated risk
Low need for Integrity and
taking and risk
status and power reliability
seeking
 Type of Entrepreneur Styles

Source: Thomas Monroy and Robert Folger, “A Typology of Entrepreneurial Styles: Beyond Economic Rationality,” Journal of Private Enterprise IX(2) (1993): 71.
 Business Survival Rate
by Year

• 79 per cent survived

the first year
• 66 per cent survived
the second
• 57 per cent survived
the third
• 50 per cent survived
the fourth
• 45 per cent survived
the fifth
• 40 per cent survived
the sixth (2007)

Meaning?
Sources: http://www.veechicurtis.com.au/surviving-in-small-business-l-the-statistics.html
 Value Creation

Product/
Services Competitors

Competitive
Value
Your Proposition Market/C
Business ustomers
Market Needs

Business Other
Environment
Idea

Source: Halim, 2010

 Entrepreneurship
Outcome

Entrepreneurs
• Business owners
• director of the business
• taking strategic decisions
• Bear the risk, but also enjoy the benefits of business after
paying employee salaries and other obligations

Intrapreneurs
• Employee
• working for someone else
• having a boss
• looking for is independence and access to resources
• have an entrepreneurial spirit
http://www.neddine.be/en/

Social Entrepreneurs
• understands social problems
• use entrepreneurial skills to make social change
• mainly to engage in welfare, education and health
 Business Idea

• Business ideas are ideas that

deliver competitive value to
customers through creative
products or services by using
business process.

• Not all business ideas are

marketable business ideas

• Marketable means the value of

http://blog.thecompanywarehouse.co.uk/tag/business-finance/
products or services meet
customers needs.
 Sources of New Business Ideas Among
Men and Women

Source: William J. Dennis, A Small Business Primer (Washington, DC: National Federation of Independent Business, 1993) 27. Reprinted with permission.
 Trends on Creating
Business Opportunities

Emerging Opportunities

Green Products Health Care Niche Home

Organic foods Healthy food Consumables Automation and
Organic School and Wine Media Storage
fibers/textiles Chocolate
govt.- Lighting control
Burgers
sponsored Security
Alternative Energy Coffee houses
Solar programs Exotic salads systems
Biofuel Exercise Energy
Fuel cells Yoga management
Energy Niche gyms Comfort
conservation Children management
Nonmedical Entertainment
Pre-assisted systems
living Networked
Assisted living kitchen
transition appliances
services
Source: Steve Cooper, Amanda C. Kooser, Kristin Ohlson, Karen E. Spaeder, Nichole L. Torres, and Sara Wilson, “2007 Hot List,” Entrepreneur (December 2006): 80–93.
 Trends on Creating
Business Opportunities

Emerging Internet Opportunities Emerging Technology

Opportunities
Mobile Virtual Economies Nanotechnology
Advertising Online auctions
Cell phones Wireless Technology
PDAs Educational
Concierge Tutoring
Services
Niche Social Human Resources
Networks Services
Seniors Matchmaking
Music fans Virtual HR
Groups of local Online Staffing
users
Pet owners
Dating groups

Source: Steve Cooper, Amanda C. Kooser, Kristin Ohlson, Karen E. Spaeder, Nichole L. Torres, and Sara Wilson, “2007 Hot List,” Entrepreneur (December 2006): 80–93.
 Four Basic Steps
Gathering of the
fact

Implementation
Organization of
of an action
the fact
plan

Analysis of the
facts
 Implementation
of an action plan
This plan should cover three
areas:

1. The entrepreneurs as a
person

2. The financial picture

3. Others key factors (e.g.,

marketing, insurance, http://transparentwithmyself.wordpress.com/2012/03/15/happy-excited-cant-sleep/

building, etc.)
 Creating New Ventures

Approaches to
New-New New-Old
Creating a New
Approach Approach
Venture
 Advantages Start New Venture
• Independence
• Financial opportunity
• Community service
• Job security
• Family employment
• Challenge
 Disadvantages

• Sales fluctuation
• Competition
• Increased responsibilities
• Financial losses
• Employee relations
http://womeninbiznetwork.com/free-business-coaching/
 New Venture Failure

The specific cause of failure:

• The owner simply don’t
know to run business
• Unbalanced experiences in
the major business activity
(finance, purchasing, selling, and production)

• Lack of managerial
experience
• Little knowledge in business http://www.pharmamanage.gr/en/business_plan.asp

area
 Avoiding New Venture
Management Traps

1. Inadequate records
2. Expansion beyond resources
3. Lack of information about customers
4. Failure to diversity market
5. Lack of marketing research
6. Legal problem
7. Nepotism
8. One-person management
9. Lack of technical competence
10. Absentee management
 Ideas

Which are marketable ideas

from the following ideas?
 Ideas –Bottle’s barrier

http://rumpitekno.com/2012/10-fungsi-ajaib-penjepit-
kertasbinder/
Ideas – Aquarium Bulb

http://www.gadgetgrid.com/2008/05/05/fish-tank-light-bulb/
 Ideas - Rubrics

http://www.inewidea.com/2009/03/05/7266.html
Ideas - Rubrics for blind people

http://www.brainpickings.org/index.php/2012/06/26/talk-to-me-
moma-paola-antonelli-book/
Ideas – Cubic Water Melon

http://scotsmad.blogspot.com/2011/07/fiestys-luau.html
Ideas – Marketing Ice Cream

http://www.allbusiness.com/wild-crazy-marketing-
ideas/15677076-9.html
Ideas – Soda Bottle Float

http://www.wtfnews.org/general/soda-bottle-floaties/
Ideas - Double Jug
 Ideas - Bottle Hanger

http://www.tokopedia.com/robinshop/water-bottle-holder-stainless-gantungan-botol-minuman/gallery/detail
Ideas – Pot Hanger
 Ideas – Guitar Boat

http://www.waterconservation.co.za/2010/02/13/5-more-
Ideas – Hair, Fashion or Helmet?

http://medgadget.com/2012/08/invisible-bike-helmet-protects-head-and-
fashion-sense-video.html
 Ideas - iPod

http://www.cygy.com/quotes/i-had-this-crazy-idea-
that-we-could-sell-just-as-many-macs-by-advertising-
 Next Session
Assignment

• Discuss in your group: Market

Problem/ Market needs, find the
solutions or business ideas for that
problem(s)
• Write down in a piece of paper

http://www.racetoamillion.ca/2010/12/video-a-couple-of-big-crazy-business-ideas-from-episode-6/
 Entrepreneurship
neither science nor an art.
It is a practice.

- Peter F. Drucker
 References
• Donald F. Kuratko, Jeffrey S. Hornby (2009). New Ventures Management,
The Entrepreneur’s Roadmap. Pearson Prentice Hall, New Jersey, ISBN 0-
13-135530-9
• Halim, Erwin. 2010. Mewaralabakan Usaha Kuliner,
http://www.indonesiakreatif.net/upload/File/mamin/PPKI%202010%20Er
win%20Halim%20Mewaralabakan%20Usaha%20Kuliner.pdf
• http://www.veechicurtis.com.au/surviving-in-small-business-l-the-
statistics.html
• http://www.waterconservation.co.za/2010/02/13/5-more-crazy-
environmental-ideas