• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint

Sources of Opportunities

Entrepreneurial opportunities are situations in which a person has a chance to introduce a product that generates more revenues than it costs to produce. These situations exist when customers’ needs are not being satisfied or when it is possible to satisfy those needs in a better way than is currently being done. So, why do these opportunities exist? After all, if the opportunities are valuable, then why hasn’t someone else exploited them already?

One reason why is that some type of change has just occurred to open up an opportunity to do something new or do something in a better way.[1] Take, for example, the opportunity to record music on compact disks. This opportunity did not exist until the invention of the laser made it possible.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint