3. Finding Value
• People buy for a reason. There should be something in
your product or service that would give consumers a
good reason to go back and buy for more. This implies
further, that you offer something to your customers that
they will make them value or treasure your product or
service.
• The value that you incorporate to your product is called
value proposition. Value proposition is “― a believable
collection of the most persuasive reasons people should
4. Innovation
• Innovation is the introduction of
something new in your product or service.
This may be a new idea, a new method or
a device. If you want to increase your
sales and profit, you must innovate. Some
of the possible innovations in your
products are change of packaging,
improve taste, color, size, shape and
perhaps price. The value incorporate to
your product is called value proposition.
5. Unique Selling Proposition (USP)
• Unique Selling Proposition is the
factor or consideration
presented by a seller as the
reason that one product or
service is different from and
better than that of the
competitions. Before you can
begin to sell your product or
service to your target
customers, you have to sell
yourself on it. This is especially
6. Unique Selling Proposition (USP)
• USP would require careful analysis
of other businesses' ads and
marketing messages. If you
analyze what they say or what
they sell, not just their product or
service characteristics, you can
learn a great deal about how
companies distinguish themselves
from competitors.
7. Here's how to discover your USP and use it to
increase your sales and profit:
• Use empathy: Put yourself in the shoes of your
customers. Always focus on the needs of the target
customers and forget falling in love with your own
product or service. Essential question such as what could
make them come back again and ignore competition
should be asked to oneself. Most possible answers may
be focused on quality, availability, convenience,
cleanliness, and reliability of the product or service.
8. Here's how to discover your USP and use it to
increase your sales and profit:
• Identify what motivates your customers: It is very
important for you to understand and find out what drives
and motivates your customers to buy your product or
service.
• Discover the actual and genuine reasons why customers
buy your product instead of a competitor's: Information
is very important in decision making. A competitive
entrepreneur always improve this products or services to
provide satisfaction and of course retention of customers.
9. Generating Ideas for Business
The process of developing and generating business idea is not
a
simple process. Some people just come with a bunch of
business ideas but
are not really feasible. There are two problems that arise; first is
the
excessive generation of ideas that can forever remain in the
dreaming stage
10. Generating Ideas for Business
The most optimal way is to have a systematic approach in
generating
and selecting business idea that will be transferred in real
business. Here are some basic yet very important considerations
that may be used to generate possible ideas for business:
1. Examine existing goods and services. Are you satisfied with the
product? What do other people who use the product say about
it? How can it be improved? There are many ways of improving
a product from the way it is made to the way it is packed and
11. Generating Ideas for Business
2. Examine the present and future needs. Look and listen to
what the customers, institutions, and communities are
missing in terms of goods and services. Sometimes, these
needs are already obvious and felt at the moment. Other
needs are not that obvious because they can only be felt in
the future, in the event of certain developments in the
community.
12. Generating Ideas for Business
3. Examine how the needs are being satisfied. Needs for the
products and services are referred to as market demand. To
satisfy these needs is to supply the products and services
that meet the demands of the market. The term market
refers to whoever will use or buy the products or services,
and these may be people or institutions such as other
businesses, establishments, organizations, or government
agencies.
13. Generating Ideas for Business
4. Examine the available resources around you. Observe what
materials or skills are available in abundance in your area. A
business can be started out of available raw materials by
selling them in raw form and by processing and manufacturing
them into finished products. Business ideas can come from
your own skills. The work and experience you may have in
agricultural arts, industrial arts, home economics, and ICT
classes will provide you with business opportunities to acquire
the needed skills which will give you extra income, should you
14. Generating Ideas for Business
5. Read magazines, news articles, and other publications on new
products and techniques or advances in technology. You can
pick up new business ideas from Newsweek, Reader‘s Digest,
Business Magazines, ―Go Negosyo‖, KAB materials, and
Small-Industry Journal.
15. Key Concepts of Selecting a Business Idea
Once you have embarked on identifying business
opportunities, you will eventually see that there are
many possibilities that are available for you. It is very
unlikely that you will have enough resources to
pursue all of them at once.
You have to select the most promising one among
hundreds of ideas. It will be good to do this in stages.
In the first stage, you screen your ideas to narrow
them down to about few choices. In the next stage,
trim down the choices to two options. In the final
stage, choose between the two and decide which
16. In screening your ideas, examine each one in terms of the
following factors:
1. How much capital is needed to put up the
business?
2. How big is the demand for the product? Do many
people need this product and will continue to need it
for a long time?
3. How is the demand met? Who are processing the
products to meet the needs (competition or
demand)? How much of the need is now being met
(supply)?
4. Do you have the background and experiences
needed to run this particular business?
17. Branding The features of a good
product brand are as
follows:
• Delivers the message
clearly
• Confirms your
credibility
• Connects your target
prospects emotionally
• Motivates the buyer
• Concretizes user loyalty
Branding is a marketing practice of
creating name, symbol or designs that
identifies and differentiates product or
services from the rest. It is also a
promise to your customers.
Branding is one of the most
important aspects of any business. An
effective brand strategy gives you a
major edge in increasingly competitive
18. Here are some simple tips to publicize your brand:
• Develop a tagline. Write a meaningful, unforgettable, and easy to
remember statement that captures the essence of your brand.
• Get a great logo. Create a logo suitable to your business and
consistent with your tagline and place it everywhere.
• Write down your brand messaging. Select key messages you want
to communicate about your brand.
• Be true to your brand. Deliver your brand promise.
• Be consistent. Be reliable and consistent every time.
19. In generating business idea, you should first identify what
type of business is suited to your business idea. You
should analyze and scan the potential environment, study
the marketing practices and strategies of your
competitors, analyze the strengths, weaknesses,
opportunities, and the threats in your environment to
ensure that the products or services you are planning to
offer will be patronized within the easy reach by your
20. Bear in mind these simple rules for successful SWOT Analysis:
• Be realistic about the strengths and weaknesses of your business
when conducting SWOT Analysis.
• SWOT Analysis should distinguish between where your business is
today, and where it could be in the future.
• SWOT Analysis should always be specific. Avoid any grey area.
• Always apply SWOT Analysis in relation to your competition‘ i.e.
better than or worse than your competitions.
• Keep your SWOT Analysis short and simple. Avoid complexity and
over analysis.
• SWOT Analysis is subjective.