Business Opportunities Are: Characteristics, Factors, Sources and Examples
Business Opportunities Are: Characteristics, Factors, Sources and Examples – In this discussion we will explain about Business Opportunities. Which includes the definition, characteristics, influencing factors, sources and examples of business opportunities with complete and easy-to-understand discussion.
Business Opportunities Are: Characteristics, Factors, Sources and Examples
Let's discuss the meaning of business opportunities first.
Definition of Business Opportunity
The word business opportunity consists of two words, namely from the words Opportunity and Business. Opportunity itself can also be interpreted as an opportunity that comes or something that can happen and can generate a profit. As for the word effort itself, it can be interpreted as an act by directing energy and also thoughts in achieving targets or goals.
Therefore, the notion of a business opportunity is an opportunity that comes and can be used to make a profit. Or it could also be interpreted as opportunities that arise at certain times that can provide great opportunities as well as get a profit if at the time of the opportunity an action is carried out by directing energy and thought.
Definition of Business Opportunities According to Experts
The following is a definition of business opportunities put forward by experts.
1. Thomas W. Zimmerer
According to Thomas W. Zimmerer's understanding of business opportunities is an application consisting of creativity and innovation to solve problems and see opportunities that are being faced every day.
2. Robbin and Coulter
According to Robbin and Coulter, the notion of business opportunity is a process that involves individuals or groups who use business as well as certain means of creating an added value to meet a need regardless of the resources used.
3. Arif F. Hadiparanata
According to Arif F. Hadiparanata, the notion of a business opportunity is a risk that must be taken and faced in order to manage and regulate all matters related to finance.
4. Wikipedia
Sourced from Wikipedia, the definition of business opportunity is a process of identifying, developing, and planning a business that can create a process to become better at doing something so that this can create new businesses that are formed in conditions full of risk and not sure.
Characteristics of Business Opportunities
There are several types of business opportunities including potential business opportunities and good business opportunities. The characteristics of each type of business opportunity are as follows:
Characteristics of Potential Business Opportunities
There are several characteristics of a potential business opportunity, including:
- Has a high resale value
- Not only limited to ambition but also must be real
- It can last a long time or be sustainable in the market
- The scale of the business can be enlarged or increased
- The capital spent is not too much, and the investment is not too big, but this has the potential to be profitable and so on.
Characteristics of a Good Business Opportunity
Meanwhile, there are also characteristics of a good business opportunity, including the following:
- Business opportunities do not imitate other people but are original from the results of one's own research and one's own thinking
- Opportunities must also be able to anticipate changes in competition in the market
- Having faith can make it happen
- The opportunity must be in accordance with the will
- The business feasibility has been tested
- There is pleasure when running it
Factors Influencing the Emergence of Inspirational Business Opportunities
There are two influential factors in the emergence of inspirational business opportunities, including:
Internal factors
Internal factors are factors that originate from oneself, namely:
- Insight or knowledge that is in oneself
- Experience in the world of business or enterprise
- Experience and ability when solving a problem
- Ability or understanding of something or situations and conditions
External Factors
External factors, namely a factor that comes from outside, namely:
- Problems that arise and are faced and have not been resolved
- Difficulty in finding solutions to problems
- Good thinking in making something new out of a condition
- Needs that have not been met or fulfilled for oneself or others.
Sources of Business Opportunities
A business opportunity has various sources that can generate enthusiasm in trying, including:
Self
Business opportunities that have high potential are sourced from oneself, as well as hobbies, knowledge expertise and also from research or environmental observations. The reason why good opportunities come from yourself is because:
- To run a business you need to be consistent and also have commitment
- Running a business requires a long process, until the business becomes successful
- In running a business, it is necessary to keep trying and never give up, with the support of creativity and having sufficient knowledge to achieve success
From the Environment
There are many sources of business opportunities that can be obtained from the surrounding environment, such as:
- The business owned by the parents continues to be developed, so that the business becomes bigger and wider
- In the neighborhood around the house
- Self habit
From Consumers
Requests, complaints, suggestions or consumer expectations for an item or service in the market can be a source of ideas in creating a business.
From the Changes That Happened
Business opportunities can also arise from various changes in the environment when the person can read situations that can be used as business opportunities.
From Educational Background
Not only that, business opportunities can also arise from an educational background, for example someone who has the educational background of a chief, with a background behind his education and finally he can create a variety of new dishes that can make it a new business opportunity.
Or someone who has an educational background in the field of music, with his educational background he can create new songs according to the wishes of the people, and finally it can make him become a creator song.
Examples of Business Opportunities
An example is like doing business online, doing business online is very promising if you keep trying, and always innovate and be able to compete with many sellers in Indonesia market.
An online business that can be pursued is like selling smartphones or cameras and until whenever products will also trend, namely selling clothes or fashion and accessories.
Benefits of Business Opportunities
The following are some of the benefits obtained from business opportunities, namely:
- Be independent from an early age
- Have a longer time
- More time to enjoy success
- Have thick savings
Business Opportunity Strategy
The following are some of the strategies contained in business opportunities, namely:
- You need to determine where to start in finding a source of opportunity.
- Find the right sector for you to enter.
- Empower the power of your product so that it has a selling point.
- Evaluate and empower your opportunity to become a product (a business).
Thus has been explained about Business Opportunities Are: Characteristics, Factors, Sources and Examples, hopefully can add to your insight and knowledge. Thank you for visiting and don't forget to read other articles.
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