Summary on business opportunity

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ideshare.
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garwal2/wor
king-capi
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I
dent
if
icat
ionofBusi
nessOppor
tuni
ty:
I
deaGenerat
ionandOppor
tuni
ty
I
dent
if
icat
ionofBusi
nessOppor
tuni
ty:I
deaGener
ati
onand
Oppor
tuni
ty!
I
ngener
alsense,t
het
erm oppor
tuni
tyi
mpl
iesagoodchanceora
f
avour
abl
esi
tuat
iont
odosomet
hingof
fer
edbyci
rcumst
ances

I
nthesamev
ein,busi
nessoppor
tuni
tymeansagoodorf
avour
abl
e
changeav
ail
abl
etor
unaspeci
fi
cbusi
nessi
nagi
venenv
ironmentat
agi
venpoi
ntoft
ime.

Thet
erm‘
oppor
tuni
ty’
alsocov
ersapr
oductorpr
oject
.

Hence,t
hei
dent
if
icat
ionofanoppor
tuni
tyorapr
oductorpr
ojecti
s
i
dent
icaland,t
her
efor
e,al
ltheset
hreet
ermsar
eusedassy
nony
ms.
TheGov
ernmentofI
ndi
a’
s“LookEastPol
i
cy”t
hroughNor
thEasti
san
exampl
eof‘
oppor
tuni
ty’t
odobusi
nessi
nit
emsl
i
ket
ea,handi
craf
ts,
her
bal
s,t
urmer
ic,
etc.

,:



Oppor
tuni
tyi
dent
if
icat
ion and sel
ect
ion ar
eli
ke comerst
ones of
busi
nessent
erpr
ise.

Bet
tert
hef
ormer
,bet
teri
sthel
att
er.I
nasense,i
dent
if
icat
ionand
sel
ect
ionofasui
tabl
ebusi
nessoppor
tuni
tyser
vesast
het
ri
tesay
ing
‘
wel
lbeguni
shal
fdone.
’

But
,iti
sli
kebet
tersai
dthandone.Why
?Becausei
fweaskany
i
ntendi
ngent
repr
eneurwhatpr
ojectorpr
oducthe/
shewi
l
lsel
ectand
st
artasanent
erpr
ise,t
heobv
iousanswerhe/
shewoul
dgi
vei
sone
t
hathav
ingagoodmar
ketandi
spr
ofi
tabl
e.Butt
hequest
ioni
show
wi
thoutknowi
ngt
hepr
oductcoul
doneknowi
tsmar
ket
?

Whosemar
ketwi
l
lonef
indoutwi
thoutact
ual
l
yhav
ingt
hepr
oduct
?
Whose pr
ofi
tabi
l
ity wi
l
lone f
ind outwi
thoutact
ual
l
y sel
l
ing t
he
pr
oduct
?Ther
ear
eot
herpr
obl
ems,besi
des.Whi
l
etr
yingt
oident
if
y
t
hesui
tabl
epr
oductorpr
oject
,thei
ntendi
ngent
repr
eneurpasses
t
hroughcer
tai
npr
ocesses.

Thepr
ocessesatt
imescr
eat
easi
tuat
ion,
orsay
,di
l
emmar
esembl
i
ng
‘
Hen orEgg’cont
rov
ersy
.Thati
s,atone poi
nt,t
he i
ntendi
ng
ent
repr
eneurmayf
indonepr
oductorpr
ojectasanoppor
tuni
tyand
mayenchantandl
i
kei
t,butatt
heot
hermomentmaydi
sli
keandt
urn
downi
tandmayt
hinkf
orandf
indot
herpr
oductorpr
ojectasan
oppor
tuni
tyf
orhi
m/her
.Thi
spr
ocessofdi
l
emmagoesonf
orsome
i
ntendi
ng ent
repr
eneur
srender
ing t
hem i
ntot
hepr
obl
em ofwhat
pr
oductorpr
ojectt
ost
art
.Then,how t
oov
ercomet
hispr
obl
em of

, pr
oducti
dent
if
icat
ionandsel
ect
ion?

Onewayt
oov
ercomet
hisdi
l
emmat
icsi
tuat
ioni
stoknow how t
he
exi
sti
ng ent
repr
eneur
sident
if
ied t
he oppor
tuni
tyand setup t
hei
r
ent
erpr
ises.Ani
nvest
igat
ioni
ntot
hehi
stor
icalexper
iencesofI
ndi
an
smal
lent
erpr
isesi
nthi
sregar
drev
eal
ssomei
nter
est
ingf
act
ors.

Toment
iont
hei
mpor
tantones,
theent
repr
eneur
ssel
ect
edt
hei
r
pr
oduct
sorpr
oject
sbasedon:


a.Thei
rownorpar
tner
s’pastexper
iencei
nthatbusi
nessl
i
ne;

b.TheGov
ernment
’spr
omot
ional
schemesandf
aci
l
iti
esof
fer
edt
o
r
unsomespeci
fi
cbusi
nessent
erpr
ises;

c.Thehi
ghpr
ofi
tabi
l
ityofpr
oduct
s;

d.Whi
chi
ndi
cat
eincr
easi
ngdemandf
ort
hem i
nthemar
ket
?

e.Theav
ail
abi
l
ityofi
nput
sli
ker
awmat
eri
als,
labour
,et
c.atcheaper
r
ates;

f
.Theexpansi
onordi
ver
sif
icat
ionpl
ansoft
hei
rownoranyot
her
ongoi
ngbusi
nessknownt
othem;

g.Thepr
oduct
sreser
vedf
orsmal
l
-scal
euni
tsorcer
tai
nlocat
ions.

Now,hav
inggai
nedsomei
deaonhow t
heexi
sti
ngent
repr
eneur
s
sel
ect
edpr
oduct
s/pr
oject
s,t
hei
ntendi
ngent
repr
eneurcanf
indaway
outoft
het
angl
eofwhi
choppor
tuni
ty/
product
/pr
ojectt
osel
ectt
o