Identifying Business Opportunities

Abstract

One of the major reasons for entrepreneurs' failure is poor analysis before investment. This article reviews the essential elements for success: a unique business idea, a business concept that makes the entrepreneur stand out of the crowd, and the ability to distinguish between a nice idea and a real opportunity. Important sources of business opportunities are identified: unsatisfied needs due to the difficult economic environment, and new avenues opened by changes in government regulations, demography and technology.


LBS Management Review Vol.6(2) 2001: 82-88