Opportunity Identification

Cards (9)

Idea
A conceptual thought
Opportunity
A well-defined, actionable concept with validated market demand and revenue-generating potential
Differences between an idea and an opportunity
Market Demand
Ability to Generate Revenue
Availability of Technology and Resources (Financial, Human, and Physical)
Key sources of entrepreneurial opportunities
Changing demographics
Emerging markets
New technologies
Political and regulatory changes
Social changes
Changing Demographics
Shifts in population size , age distribution , ethnic diversity and income levels can create new opportunities for entrepreneurs
Emerging Markets 
Regions or countries experiencing rapid economic growth and industrialization. Allowing untapped consumer bases
New Technologies
Advancements in technology can create entirely new industries.
Entrepreneurs can develop new innovative products or services
Political and Regulatory Changes 
Changes in government policies or regulations can create opportunities for entrepreneurs to exploit previously restricted markets.
Social Changes
Shifts in social values or cultural norms can lead to entrepreneurial opportunities , allowing them to develop products or services that cater to these new behaviours.