Understanding Entrepreneurship and Identifying Business Opportunities

Define entrepreneurship and outline the characteristics of an entrepreneur. Explore the entrepreneurial mindset: resilience, innovation, risk-taking, and vision. Address common myths and misconceptions about entrepreneurship.

Feasibility Check: Assess the feasibility of each idea based on resources, market demand, and competition. Market Potential: Evaluate the market potential of each idea, including the size of the target market and growth prospects. Unique Selling Proposition (USP): Identify the unique value proposition of each idea and how it differentiates from existing solutions.

Now that you have your SWOT analysis ready, it’s time to present your business idea. This practice will help you clarify your thoughts and refine your pitch. Even though you’re working in a self-paced environment, you can still present to a friend or record yourself.

By now, you’ve explored key concepts in entrepreneurship, learned how to identify business opportunities, and applied practical tools like brainstorming and SWOT analysis. Let’s recap some of the most important lessons: Entrepreneurship is about solving problems and creating value. Market gaps are where successful businesses find their foothold. SWOT analysis is a crucial tool for evaluating the viability of business ideas.