How To Identify And Launch Business Opportunities

How To Identify And Launch Business Opportunities

In the business journey that leads to the creation of the company, the starting point is to find an idea or business opportunity that allows us to reach the end of the journey: the start-up of the company.

For this it is good to take into account the following:

1st. The idea must be TIMELY, that is to say, that it arises at the right time and is maintained for a certain period, which means that there must be customers who demand the product or service that we have detected and that this need is maintained in the medium term. , 

because if it is satisfied in the short term it is not viable to be transformed into a company.

2nd. The idea of ​​our product or service must provide an ADDED VALUE to the potential client since otherwise it will be very difficult to displace the existing competition in the market.

The ideal would be to offer something new, in the sense of improving what already exists, or to satisfy customers with a different service that gives them greater satisfaction to their needs, or in other words, greater added value.

3rd. The market segment we are targeting must have a MINIMUM SIZE, however, specialized our sector or activity may be, there must always be a minimum number of customers willing to demand our products.

4th. CREATIVITY is important, we must use it in such a way that we can discern and separate only the best ideas.

5th. Creating a TEAM or a network of relationships, -network-, having collaborators, or dealing with the different components of a team will eliminate personal subjectivity and be more objective in the analysis and implementation of ideas and opportunities for business detected.

6th. MOTIVATION, it is necessary to have an entrepreneurial spirit, have a real will to move the idea forward, and believe in oneself, which will help to solve the different problems that arise during the business trip.

Taking into account what has been said in the previous sections, we can now begin the search for ideas and business opportunities. The most common sources where we can find them are mentioned below:

The companies that have products or services appropriate to sell under this modality and adopt it, under previously defined management quality standards and through an adequate system of monitoring and control of sales management, know that they obtain important benefits such as those that are described below. Describe:

.Our environment and the circumstances that surround each individual are very diverse and particular in each case, especially analyzing our work experience, knowledge, and hobbies.

.Analyzing the market, it must be taken into account that the environment in which we move makes it change continuously, we must pay special attention to the behavior of individual and collective consumers, their desires, their tastes, and ultimately the degree of satisfaction of your needs.

.Analysis of existing businesses, attendance at fairs, participation in seminars, congresses, contacts in other companies, etc. Try to improve the existing processes of manufacturing, distribution, production, promotion, after-sales service, etc.

.Reading publications, studies, statistics, ratios, magazines, articles, and economic data.

.Lateral thinking or association of images, applied to everyday situations.

.What products or services not available in my area of ​​residence do I usually demand with a certain frequency?

.What can I not buy or enjoy due to its high cost and what if I am interested in having it if there was an alternative?

.Are there products and services that are sold for a purpose by the company that sells them and there are consumers who apply them for another function, can I satisfy that demand with a new product or service?

.I know of some frustrated business initiatives, why did they fail?

.What information or service is missing on the Internet, or in other words, a service that can be offered at the moment and does not currently exist on the Internet?

.There are many opportunities in emerging or growing sectors, such as the current Internet, as well as deregulated sectors open to new ideas and concepts.

Of course, it is necessary to analyze and assess business ideas and opportunities, especially their technical viability. Can I? their economic viability. Is it profitable? and finally its financial viability, do I have money? for this there is a business plan or business plan tool.

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