How to choose my business opportunity?

Choice of business opportunity

At the beginning of your business creation project, you sometimes have several opportunities. Actually, you have one or more ideas for yourself or others. All these ideas are good opportunities. Moreover, you are ready to start the adventure with all your energy and spend hours of work. The pitfall is that you can lose a lot of time engaging in only two of these ideas, or mulling over all these ideas, without really taking action. How to get out of this rut that is consuming time and resources? That is what we are addressing in this article. Before you begin, remember that an idea is not necessarily an opportunity but, an opportunity has necessarily just an idea. How to recognize good opportunities? This issue is essential before moving on to the choice. Without this step, you you wonderfully to fatigue. So as a first step, we will evaluate the ideas, and characterize opportunity or not, then remember the best.

My idea is an opportunity?

To find out, observe more closely the five essential characteristics that transform an idea into an opportunity:

1 – Creation of value: an opportunity is supposed bring something new (solution to a problem, a need of your target). It is thanks to this value, your opportunity will fill an unmet need that will take the customer to pay the price that you put in front.

The question to ask here is: what is my idea adds value to my clients? For example if I have the idea of selling ice in summer by the sea, I bring the value: the freshness to my clients that they cannot walk with their refrigerator… Talk with your loved ones can also cause you to expand your field of vision and thus find a valuable value for your customers.

2 – Risk: in any project, there is a risk. Identify the risk to be able to act in full knowledge of the cause.

At this stage, not only you will identify the risks, but also you must choose those that you are capable of. You will necessarily take risks to develop an opportunity. This is normal. However, you must ensure that the case brings you a benefit or a proportionally significant profit to the risk that you take. More we take risk, more are expected at an important award!

3 – Consistency between the idea, yourself and your skills.

It is the dynamic of these three aspects that will nourish, energize, and allow you to complete your project. So, this is a really important point. Knowing that you can never do everything alone, you know keep certain tasks and delegate others. If you are uncomfortable on these points, you know do it easily to maintain control of your business and especially to not let you lead by the tip of the finger. In addition, you will have to present your project, often when the consistency between these three points that will make the credibility of your project and your reputation.

4 – Sustainability: the idea is a trend? And you even: do you want to stay in the area for a reasonable time.

Your idea is reliable, if operating conditions over time. Indeed, all the establishment, the organisation… takes time. If just finished it you just to start over elsewhere because the idea is outdated and is absolutely more topical, you have lost everything. Obviously, this will not happen as we just tell above. Concretely, you'll never have expected profitability so you will have lost time and money!

5 – Ability to be paid

Of course all work deserves wages! Do not forget! Your earnings to be at the height of the risk you take. However, you may need to accept restrictions budget for a while before the success will be at the rendezvous. You devalue how long. Once you have made the round of these five features, you can say that you have an opportunity. If you have five different ideas, the approach should be held for each of them. So, any idea which has not fulfilled all these criteria will not be an opportunity. Now you have several opportunities, this is where everything starts, since he will have to choose only one: the best!

What is my best opportunity?

After the first step above, it happens that you have two opportunities, before moving on to the action, there's still a step choose the best for the simple reason that: [bullet_list icon=”check” indent=”10px” style=””]

  • you won't be able to embark on two projects simultaneously. If you hold the shock physically, financially you will be limited.
  • If you go on a bad opportunity, you lose time, with luck someone else to develop the opportunity before you.

[/bullet_list] So the goal is devote you on a single opportunity and carry it out to the end. You can still embark on another when the first will be held his promises. In addition, you will have enough liquidity to fund other opportunities. You are now convinced, you want to make your choice of opportunity, click the free tool to start link. The testing must be done for each of your opportunities. Let yourself be guided by the instructions on the site.

 

 

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