Identifying Business Opportunities

A Guide to Choosing a Suitable Business

Anthony Ekanem

• Publisher: Anthony Ekanem
• Year: 2016
• eBook ISBN: 9783958499744
• Topic: Business
• Subtopic: Entrepreneurship
• Index: Business

No one is born successful. When we were born, we even did not know how to spell "successful", knowing its meaning was something quite far-off. As we grew up, we began chipping in efforts to turn our lives into successful lives. Some of us do achieve the success that we have thought about, but that doesn't come without a great deal of effort. One of the most important ingredients in becoming successful is to have a vision, a dream. If you don't know how to dream, you will most probably not achieve anything in life. Some people are afraid to dream, thinking they would be terribly frustrated if they don't achieve their goals. But the fact is that if you don't dream, you probably won't get it. Great people dreamed of flying, going to the moon and so on… you see now that we can fly, we can go to the moon. In this age when people are thinking how to build gadgets that can turn objects and even people invisible, it is quite unwise to restrict one's thoughts. What do you dream about? Probably you dream about having a great business or buying a home or a car of your own. In the light of all the achievements that people have made, do you think all this is as difficult as you think? This shows there is nothing impossible in this world you if you do it the right way, if you take initiatives and plan it properly. Practically the whole world today uses his Microsoft products, not realizing that these products belong to a person who is a computer dropout. Take a look at Facebook. It started as a college project and has today made a revolution in the field of social networking. How can we not talk about Google, which started in a dingy office and today it dominates our online world. All these successes have been achieved in just a few short years! So, don't lose hope, hold on to your big dreams and try to achieve them. The simple steps that you need to take are hard work, and to be there at the right time and the right place.

Chapter 1

Business Opportunities

The first step to any successful business is to find out about the quality of the business opportunity you are planning to start. You should know what you must look for.

The following are a few qualities that you need to check before you start any business. There are more, of course, but these are the ones that you should absolutely not miss out on:

1. The business should have enough targeted customer base. Now, what do we mean by that? Let’s say you are planning to start a home-based business. You will need to look for a business that is more in demand. Where need is high and supply is less, you can have a better scope of success. Take the example of SEO opportunities for freelancers. You can do this from home without any high investment. In this niche, the requirement on your part is very high and you are bound to do well if you put in the right effort, because the professionals here are fewer. You need such an opportunity
   
2. The business should have a good breakeven point. If your business doesn’t have that, then you need to have large amount of working capital. Making a project report that tells how much you will have to put in and how much you will get from the business, and when, is a great idea.
   
3. Your interest in the business you start is highly important. There are many people who start a business looking at its potential, but don’t reach the level they desire, primarily because they don’t have much interest in the business itself.
   
4. Before starting with the business opportunity, see to it that you get proper resources on time, like manpower, guidance, consulting, financial credit if needed, infrastructure, etc.
   
5. Check before only if your business is over competitive or over in demand, if competitiveness is very high it will be difficult for you to get established in the business soon.

So, in summary, you need to check out all the pluses and minuses of the business opportunity before you plan to start an...

Table of contents

• Chapter 1
• Chapter 2
• Chapter 3
• Chapter 4
• Chapter 5
• Chapter 6
• Chapter 7
• Chapter 8
• Chapter 9
• Chapter 10