Opportunity Screening

Cards (14)

  • What is Opportunity Screening?
    • Bring value to the customer
    • Provides solution to a compelling Problem
    • Fully satisfy a need or want
    • Must be a potential cash cow
    • Matches with the skills and resources of the entrepreneur
  • 12 R's of Opportunity Screening
    1. Relevance
    2. Resonance
    3. Reinforcements
    4. Revenues
    5. Responsiveness
    6. Reach
    7. Range
    8. Revolutionary Impact
    9. Returns
    10. Relative Ease of Implementation
    11. Resources Required
    12. Risks
  • Relevance – opportunity must be aligned to MISSION, VISION, and OBJECTIVES of the entrepreneur.
  • Resonance – must match the VALUES the entrepreneur wishes to IMPART.
  • Reinforcements – must RESONATE to entrepreneurs INTEREST, PREFERENCE, or TASTE
  • Revenues – must determine the SALES POTENTIAL of the products or services.
  • Responsiveness – must ADDRESS the unfulfilled NEEDS and WANTS of customers.
  • Reach – must have good chances of EXPANDING through branches, distributorship, dealership or even franchise.
  • Range – must have the potential to LEAD a WIDE RANGE of product or service offered
  • Revolutionary Impact – it should be the “NEXT BIG THING” or even game changer.
  • Returns – must YIELD the HIGHEST RETURNS on investments.
  • Relative Ease of Implementation – must be EASY to IMPLEMENT.
  • Resources Required – it should require FEWER resources.
  • Risks – the OPPORTUNITY should OUTWEIGH the risks, such as technological, market, financial or people risks.