Business Opportunity Seekers
Start a Business, but Do it after thorough PreparationStarting your own small business is a major decision. A great deal of preparation is required to make it a quality decision including gathering entrepreneurial resources. Don't let your business startup enthusiasm lead you to skip this essential preparatory step.
Generating Small Business Ideas and Finding Small Business Opportunities
Business opportunity seekers must first
Start by answering some critical questions:
- What potential industry are you interested in starting a business in?
- Does this industry fit with your experience, interest and knowledge?
- What unmet market needs exist in the industry of interest?
- Which need could your business fill?
- Which opportunity would best fit with your capabilities, resources, interests and potential profit?
- Are there obvious barriers to pursuing an opportunity such as high competition, capital investment costs, federal and local regulatory compliance issues that may make certain opportunities less attractive to pursue?
- How can I surmount potential barriers?
- Which opportunity seems to make the most sense to pursue after initial consideration of pros and cons?
- Should I start a business from scratch , purchase an existing business, or become a franchisee (see options below)?
- Who are the customers?
- What value will you provide to them?
- How will this value be provided
- How will you market your business? Will you use professional networking sites?
