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Business Ideas Forum
Business opportunity or idea and ways of identifying them.
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[QUOTE="btaliat, post: 108628, member: 26390"] A business opportunity is a situation that is favorable for the start of a specific business. Entrepreneurs should always be at alert and broadminded enough to see, hear, read about or perceive a business opportunity in their near and far environment to exploit them. A good business idea or opportunity must be supported by a good demand for the potential product, yield a good return and profit and lead to a legal business. Also, there should be availability of sufficient raw materials and technical skills to turn the idea to a profitable business and easy to implement. A business opportunity can be sourced from the problems that arise in the society. An entrepreneur either try to use his business to solve a particular societal problem or create a problem and try to use his business to solve it. For instance, some people may inject virus in the atmosphere and later provide antidote. Business opportunities can be identified through personal observations, research report, dreams and insight. Also, it can be thorough desire to solve a particular problem and extrapolation. [/QUOTE]
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