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ENTREP

Business ideas are not necessarily business opportunities unless they solve real problems for users. An idea only becomes an opportunity if it addresses an existing need in a way that convinces customers to choose that solution. While ideas are plentiful, turning an idea into a successful business takes significant effort to understand customers, develop the idea into a viable product or service, and execute a plan to make it available to customers. Successful entrepreneurs understand this process and work diligently to transform ideas into real opportunities that create value for both the business and its users.

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Jezza Mae Acosta
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38 views2 pages

ENTREP

Business ideas are not necessarily business opportunities unless they solve real problems for users. An idea only becomes an opportunity if it addresses an existing need in a way that convinces customers to choose that solution. While ideas are plentiful, turning an idea into a successful business takes significant effort to understand customers, develop the idea into a viable product or service, and execute a plan to make it available to customers. Successful entrepreneurs understand this process and work diligently to transform ideas into real opportunities that create value for both the business and its users.

Uploaded by

Jezza Mae Acosta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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 "Business ideas are not business opportunities…unless they solve problems."

A business idea may or may not be a business opportunity. Business ideas are
opportunities if they can solve the real-time problem of the user in order to convert it
into an opportunity. The idea will be useless if it is just an empty one. Many
entrepreneurs believe that an idea alone will guarantee them success and wealth.
However, the truth is that it takes time, effort, and enthusiasm to turn a business idea
into a door of opportunity, and not all ideas will automatically turn into opportunities.
As this quote says, "Don’t just start a business, solve a problem." As long as
consumers have problems, they will always search for solutions. People will always
look for better, faster, and smarter ways to accomplish everyday tasks. In addition,
successful entrepreneurs are adept at turning ideas into opportunities because they act,
work, persevere, and execute their plans to make it all happen. It won't be easy, but
you harvest what you sow.

Activity 2.

1. Tony Tan Caktiong, Jollibee Foods Corp.

Tan was born to Chinese immigrant parents from Fujian. He attended high school at Chiang
Kai Shek College and graduated from the University of Santo Tomas with a degree in chemical
engineering. Tony Tan was born into a poor family who migrated from southeastern China to the
Philippines in search of a better life. He became involved in the restaurant business from an early age
when his father opened a restaurant. He used that situation to hone his skills. At the age of 22,
inspired by a visit to an ice cream plant, he set out to gain his own foothold in the restaurant business.
Relying on family savings, he seized a franchising opportunity with Magnolia Dairy Ice Cream and
opened two ice cream parlors. Just like anyone else, Tony Tan Caktiong has those traits that make him
a great businessman. He possesses time management skills, discipline, and many other valuable traits
that help him be successful in this industry. Jollibee Foods Corporation relies on a franchising model.
In order to protect the company’s high quality and service standards, potential franchises have to
conform to a specific profile.

2. Vicky Belo, Belo Medical Group

Maria Victoria "Vickyi" Gonzalez Belo-Kho, a Filipina dermatologist and television personality, was
born on January 25, 1956. Belo Medical Group is her company, and she is the founder, CEO, and
medical director. Vicky Belo attended Assumption College, San Lorenzo for her secondary education.
She earned a Bachelor of Science from the University of the Philippines, Diliman, and completed her
degree in Medicine and Surgery at the University of Santo Tomas. She obtained a Diploma in
Dermatology from the Institute of Dermatology in Bangkok, Thailand. Dr. Belo furthered her studies in
Dermatologic and Laser Surgery in California; Harvard Medical School in Boston, Massachusetts; and
St. Francis Memorial Hospital at the University of California at San Francisco. She dreamt of becoming
someone who could make people feel beautiful and loved, which led her to be in the medical
profession, particularly in the field of dermatology. Vicki Belo is ever-striving, heading for the top, and
enjoying an enterprising, ambitious, and determined personality to do things well and an unyielding
dedication to her plan until the goals are achieved. She also employs a lot of people to work under her
company, and that Belo Medical Group is indeed an expert in the industry and offers nothing but the
best services.

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