SENIOR HIGH SCHOOL
COURSE MODULE
ENTREPRENEURSHIP
FIRST SEMESTER
1ST QUARTER
SY 2020-2021
Module 7: Opportunity seeking
Topic: Pain hunting, Pain points identification, Pain points understanding, Pain points healing
Learning Outcomes:
At the end of the lesson the learners are able to
1. Better understand Pain hunting
2. Identify pain points
3. Understanding Pain points
4. Pain points healing
Learning Activity:
1. The learners will watch a recorded video discussion from their subject instructor for 30 minutes then will
proceed to the zoom link for further discussion.
2. Reading requirements: Growth strategy (pp 101-102), New business VS. Expansion (102-104).
Introduction (with core value/Character integration)
Jeremiah 29:11
For I know the plans I have for you,” declares the LORD, “plans to prosper you and not to harm you,
plans to give you hope and a future.
Life is full of inconvenience and troubles but there’s more to it than just inconvenience or trouble itself.
That feeling of inconvenience is our natural response to something that is unfamiliar for us.
Inconvenience does not just exist to make our living difficult but instead it makes us uncomfortable to
trigger our creativity and resourcefulness. How can we turn this unfamiliarity into an opportunity?
although it is a natural response from us that we avoid to be on unfamiliar situations, we still should make
it a norm being in it. Being in a situation that is unfamiliar, denying our own comforts for us to seek
growth and trigger our creativity and resourcefulness.
Body (with real life application: current issues)
Pain hunting.
Entrepreneurs must identify their specific target market. This target market whether customer or noncustomer
group must behave in a homogeneous way, which means this group of people are having common traits by seeking
common benefits caused by a common inconvenience or pain points. The entrepreneur must be able to serve their
target market to relieve them from their pain points.
4 types of What is it? examples
consumer
benefits
Functional Benefit related to performance of the The new Apple iPhone 12 has the
benefit product or service Apple A14 Bionic chip which is the
latest apple hardware that will have you
experiencing the smoothest run of apps,
stunning graphic qualities, buttery
smooth touch.
Economic Benefit related to the price of the product Ever Bilena cosmetics are good quality
benefit or service but cheaper than imported cosmetics
Emotional Benefit related to how the owner feels - Personal perspective
benefit when owning or using the product or “Having my house a fire insurance
service makes me feel more secure.”
“Having the latest iPhone would
drastically help me improve in my
studies”
- Gym (business perspective)
We want our clients to be motivated, to
be more confident and healthy with a
good physique.
Social benefit Benefit related to how others will perceive - Personal perspective
the owner of the product or service “I want other to see that I am using
a metal straw that I purchased from
an organizations that promotes less
plastic waste and save sea turtles”
- Business perspective
Whenever our customers wear our
clothing, we want the community to
see a person with a good choice
and style.
Pain points identification
To be able to identify the pain points of the target market, the entrepreneur can ask their target market what they
dislike about a particular product or brand. The best opportunity to ask these pain points is when the customers
are aware of it.
The entrepreneurs can then decide and strategize using the synthesized datas to come up with a solution that will
be useful and potentially be answer to the needs of the target market. The entrepreneur must not only solve these
pain points to just earn money but to genuinely bring convenience and add up to the well-being of their target
market.
Pain points understanding
the entrepreneur needs to acknowledge that not all pain points have the same level of importance or
level of intensity. Entrepreneurs can identify which pain point they should prioritize by understanding
the frequency and depth of the pain points. Identifying which among these consumers pain points
should be solved first and which would create greater value for majority of the customers.
Understanding pain points segmentation via emotive needs: “Needscope” by market research firm
Kantar.
1. Expressive- (how one looks) used by fashion and personal care
2. Gratification- (how one feels) used by food and pharmaceutical products
3. Combination- (how one looks and feels) used by automotive and telecom industries
Pain points healing
One of the traits every entrepreneur should have is empathy. Identifying pain point is one problem
understanding the feeling of that pain point is another. For the entrepreneur, pain point should not be a
100% problem or inconvenience. Rather the entrepreneurs see it as an opportunity to innovate or be
creative to bring solution that will be relevant for a specific target market. Feeling the pain point makes
the entrepreneur understand the depth of the need and potentially attempts to bring a solution to it.
Another practical way to spot opportunity is by looking at the lifestyle trends of the consumers.
How people live
How people work
How people play
How people die
How people invest
Voice of Enterprise (VOE) – is a process to articulate the needs of the entrepreneur or his/her company
Opportunity-Seeking Process
Opportunity starts with the ideation that have specific problems identified, and rough solutions
proposed. This evaluation and redirection stage narrows the knowledge gaps of the entrepreneur,
revealing potential risks, validating or unveiling faulty assumptions about the business, finally leading to
incubation by building the actual solution. The sequence of steps leads to the entrepreneur making the
decision to either launch or terminate the intended launch.
IDEATION DISCOVERY INCUBATION
Problem
identification or Testing
Building solution
opportunity assumptions
identification
“At times, the new idea may not solve an existing problem”
(in your workbook pp 106, Exhibit4-7)
The Ideation process contains the following questions
1. Recognize a potential market
The people who are involved/who suffers from the pain point
2. Analyze the market need and customer requirements
Identifications or qualifications of your targets customers and what is the factor of the
pain point that prevents them from benefiting from the sellers.
3. Identify the target market
People identified as customers of the potential market and are prevented to purchase the
product/service because of the pain point. The portion of the market who are unserved
because of the pain points
4. Propose value proposition or the solution/s
What innovations can you offer to serve this unserved portion of the market?
What improvements can you offer?
5. Innovating the value proposition
Can be optional depending on the size of your business and manpower or process.
6. Define the purpose or vision
Your reason why you are bringing solution to these pain points
7. Select the best product or service that will meet the market need
What is your specific product/service offer that will be beneficial for the market
8. Describe the Unique Selling Proposition (USP) that differentiates one’s product/service from existing
products/services
For customers/consumers- what are your specific offerings that will potentially compel
this target market to purchase your product/service
9. Key Assumptions
Your “assumptions” or basis for your actions. Assumptions based from
observation/studies/experience.
10. Estimate Market size
“Estimate” could be exact or not, but is required to give a factual data that will give
insight for the entrepreneur to have an insight of the potential target market.
11. Identify primary target competition
Now with all your data, who are/is your primary competition.?
What are their offerings that makes a competition to your business?
Conclusion
The entrepreneur should avoid creating assumption on top of their assumptions. Entrepreneurs need to do a
concepts test or a focus group discussion to get an indicator if their value proposition is compelling or not, and
what target customers like or dislike about the offer. Business wise, there are countless opportunities that
surrounds us to become successful in Business. Empathy is a trait that will give the entrepreneur a great insight
and advantage in identifying the needs of their target market by understanding from customers point of view.
Assessment
Pp 109, Exercise: Why people don’t start business?
(to be submitted via MS word)
Deadline
12 STEM MAXWELL- October 31, 2020
12 STEM ARISTOTLE- November 1,2020
12 ABM PYTHAGORAS- November 1,2020
12 ABM EUCLID- November 2, 2020
References
ENTREPRENEURSHIP by Josiah Go
Prepared by:
Keith Bryan S. Javier
Subject Teacher
Checked by:
Dr. Emmeline T. Arel
Principal, High School Department
Supervising Dean, Basic Education Department
Noted By:
Dr. Emmeline T. Arel
Supervising Dean, Basic Education Department
